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ETFs

ETRACS 2x Leveraged IFED Invest with the Fed TR Index ETN

FEDL
$—
Today’s Change
— (—)

Snapshot
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Inception Date
Sep 14, 2021
Expense Ratio
0.95%
Type
US Equities
Fund Owner
UBS
Volume (1m avg. daily)
$982
AUM
$29,470,000
Associated Index
IFED Large-Cap US TR Equity Index
Inverse/Leveraged
Leveraged (2x)
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View
Invest with FEDL

What is FEDL?

The ETRACS 2x Leveraged IFED Invest with the Fed TR Index ETN is designed to provide 2 times leveraged long exposure to the compounded quarterly performance of the IFED Large-Cap US Equity Index Total Return, less financing costs and tracking fees. The Underlying Index tracks large-cap U.S. equities that are determined by the Index Sponsor to be best positioned to benefit from the prevailing monetary environment.

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ETFs related toFEDL

ETFs correlated to FEDL include FEX, AVUS, FNDB

FEDL
UBS AG London Branch - ETRACS 2x Leveraged IFED Invest with the Fed TR Index ETN
FEX
First Trust Exchange-Traded Fund III - First Trust Large Cap Core AlphaDEX Fund
AVUS
American Century ETF Trust - Avantis U.S. Equity ETF
FNDB
Schwab Strategic Trust - Schwab Fundamental U.S. Broad Market Index ETF
DFAC
Dimensional ETF Trust - Dimensional U.S. Core Equity 2 ETF
JVAL
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan U.S. Value Factor ETF
AVLV
American Century ETF Trust - Avantis U.S. Large Cap Value ETF
PRF
Invesco Capital Management LLC - Invesco FTSE RAFI US 1000 ETF
FNDX
Schwab Strategic Trust - Schwab Fundamental U.S. Large Company Index ETF
RDVY
First Trust Exchange-Traded Fund III - First Trust Rising Dividend Achievers ETF
AVSU
American Century ETF Trust - Avantis Responsible U.S. Equity ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

FEDL is a US Equities ETF. The ETRACS 2x Leveraged IFED Invest with the Fed TR Index ETN is designed to provide 2 times leveraged long exposure to the compounded quarterly performance of the IFED Large-Cap US Equity Index Total Return, less financing costs and tracking fees. The Underlying Index tracks large-cap U.S. equities that are determined by the Index Sponsor to be best positioned to benefit from the prevailing monetary environment.

FEDL tracks the IFED Large-Cap US TR Equity Index.

No, FEDL is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, FEDL is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FEDL is 0.0201%. This is the percent change in the value of FEDL over the most recent 1-month period. The 3-month return on FEDL is 0.0528%. This is the percent change in the value of FEDL over the most recent 3-month period.

The standard deviation of FEDL for the past year is 0.3698%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FEDL include IFED, SSO, and TNA.

ETFs correlated to FEDL include FEX, AVUS, and FNDB.

ETFs that are inversely correlated to FEDL include SH, SDS, and SPDN.

Yes, FEDL is a Leveraged (2x) ETF: This means that FEDL will try to match the performance of IFED Large-Cap US TR Equity Index, but with 2x the returns.

No, FEDL is not an inverse ETF.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

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We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.

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