UBS ETRACS CMCI Silver Total Return ETN

Frequently Asked Questions About USV

What does USV invest in?

The investment seeks to track the price and performance yield, before fees and expenses, of the UBS Bloomberg CMCI Silver Total Return index. The fund is designed to be representative of the entire liquid forward curve of the silver contracts. The index measures the collateralized returns from a basket of silver futures contracts. It is comprised of the silver futures contracts included in the CMCI with five target maturities.

What is the expense ratio of USV?

UBS ETRACS CMCI Silver Total Return ETN (USV) charges an expense ratio of 0.40%. This is the annual fee deducted from fund assets to cover management and operations.

How big is USV?

UBS ETRACS CMCI Silver Total Return ETN (USV) manages $1.4M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is USV actively managed or an index fund?

USV is a passive index fund — it tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (USV's is 0.40%) because there's no security selection cost.

When was USV launched?

UBS ETRACS CMCI Silver Total Return ETN (USV) launched in January 2009 and is managed by UBS.

How has USV performed?

USV's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.