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Issuer
UBS
Inception Date
Feb 5, 2021
Region
North America (U.S.)
Leveraged
2x
Index Tracked
MSCI USA Sector Neutral Quality Index
Distribution Policy
Accumulating
Asset Class
Equity
Assets Under Management
$6M

Share Price Chart


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Performance

QULL Performance Chart

ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) is up 15.0% since the beginning of the year. QULL is currently trading at $65 per share. Investors who bought $1,000 worth of QULL shares 5 years ago would now be looking at an investment worth $2,110.


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S&P 500 Index

Returns By Period

ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) has returned 15.03% so far this year and 43.30% over the past 12 months.


ETRACS 2x Leveraged MSCI US Quality Factor TR ETN

1D
-0.40%
1M
1.21%
YTD
15.03%
6M
13.54%
1Y
43.30%
3Y*
31.05%
5Y*
16.11%
10Y*

Benchmark (S&P 500 Index)

1D
-0.37%
1M
-0.01%
YTD
9.16%
6M
8.64%
1Y
25.22%
3Y*
19.78%
5Y*
11.99%
10Y*
13.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QULL Monthly Returns History

Based on dividend-adjusted daily data since Feb 5, 2021, QULL's average daily return is +0.09%, while the average monthly return is +1.89%. At this rate, an investment would double in approximately 3.1 years.

Historically, 66% of months were positive and 34% were negative. The best month was Jul 2022 with a return of +19.1%, while the worst month was Jun 2022 at -20.2%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.

On a daily basis, QULL closed higher 52% of trading days. The best single day was Apr 9, 2025 with a return of +20.8%, while the worst single day was Apr 4, 2025 at -11.4%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20263.22%2.13%-12.81%16.35%7.43%0.12%15.03%
20255.55%-2.59%-11.54%-2.74%8.53%5.95%0.57%4.79%5.89%1.29%1.49%0.77%17.61%
20244.10%12.34%4.42%-9.00%10.34%6.08%0.43%6.39%1.74%-3.22%9.32%-7.73%38.03%
202313.05%-5.32%8.83%2.77%0.84%12.44%6.58%-1.26%-10.71%-3.46%17.25%8.80%57.07%
2022-13.35%-9.04%8.77%-16.80%-0.52%-20.15%19.08%-9.72%-19.78%15.95%13.78%-10.02%-42.00%
2021-1.80%8.98%9.11%2.13%6.43%6.31%5.60%-12.33%15.27%-1.36%6.56%51.36%

Benchmark Metrics

ETRACS 2x Leveraged MSCI US Quality Factor TR ETN has an annualized alpha of -3.96%, beta of 2.03, and R2 of 0.94 versus S&P 500 Index. Calculated based on daily prices since February 05, 2021.

  • This ETF captured 231.92% of S&P 500 Index gains and 172.86% of its losses - amplifying both gains and losses, but participating more in upside than downside.
  • This ETF had an annualized alpha of -3.96% versus S&P 500 Index - delivering less than market exposure alone would predict.
  • Beta of 2.03 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.

Alpha
-3.96%
Beta
2.03
0.94
Upside Capture
231.92%
Downside Capture
172.86%

Expense Ratio

QULL has a high expense ratio of 0.95%, indicating above-average management fees.


Return for Risk

Risk / Return Rank

QULL ranks 53 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.


QULL Risk / Return Rank: 5353
Overall Rank
QULL Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
QULL Sortino Ratio Rank: 5252
Sortino Ratio Rank
QULL Omega Ratio Rank: 4848
Omega Ratio Rank
QULL Calmar Ratio Rank: 4949
Calmar Ratio Rank
QULL Martin Ratio Rank: 6161
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) and compare them to S&P 500 Index.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.


QULLBenchmarkDifference
Sharpe ratioReturn per unit of total volatility

-0.26

Sortino ratioReturn per unit of downside risk

-0.32

Omega ratioGain probability vs. loss probability

1.30

1.37

-0.07

Calmar ratioReturn relative to maximum drawdown

2.36

2.78

-0.42

Martin ratioReturn relative to average drawdown

10.50

12.44

-1.94

Dividends

Dividend History


ETRACS 2x Leveraged MSCI US Quality Factor TR ETN doesn't pay dividends

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


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Worst Drawdowns

The table below displays the maximum drawdowns of the ETRACS 2x Leveraged MSCI US Quality Factor TR ETN. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the ETRACS 2x Leveraged MSCI US Quality Factor TR ETN was 51.83%, occurring on Oct 14, 2022. Recovery took 329 trading sessions.

The current ETRACS 2x Leveraged MSCI US Quality Factor TR ETN drawdown is 2.86%.


Related event

Drawdown

Fall

Recovery

Underwater

Bear market2022
-51.83%Oct 2022
9mo 18d1y 3mo
2y 1moDec 2021 - Feb 2024
2025 selloff2025
-36.82%Apr 2025
4mo 4d5mo 6d
9mo 10dDec 2024 - Sep 2025
2026 correction2026
-18.43%Mar 2026
1mo 2d18d
1mo 20dFeb 2026 - Apr 2026
2024 correction2024
-15.88%Aug 2024
19d16d
1mo 5dJul 2024 - Aug 2024
2021 correction2021
-14.53%Oct 2021
1mo 4d25d
1mo 29dAug 2021 - Oct 2021

Drawdown Indicators


QULLBenchmarkDifference

Max Drawdown

Largest peak-to-trough decline

-51.83%

-56.78%

+4.95%

Max Drawdown (1Y)

Largest decline over 1 year

-18.43%

-9.10%

-9.33%

Max Drawdown (3Y)

Largest decline over 3 years

-36.82%

-18.90%

-17.92%

Max Drawdown (5Y)

Largest decline over 5 years

-51.83%

-25.43%

-26.40%

Max Drawdown (10Y)

Largest decline over 10 years

-33.92%

Current Drawdown

Current decline from peak

-2.86%

-1.80%

-1.06%

Average Drawdown

Average peak-to-trough decline

-13.93%

-10.71%

-3.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.14%

2.03%

+2.11%

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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Portfolio Analyzer

Build a portfolio with QULL

Add ETRACS 2x Leveraged MSCI US Quality Factor TR ETN to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Analyzer with QULL