USML - ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN
USML offers 2x the daily performance of the MSCI USA Minimum Volatility Index, an index that optimizes the MSCI USA Index (parent index) to create a minimum-volatility portfolio within a given set of constraints. This optimization process uses an estimated co-variance matrix based on the Barra multi-factor equity model. Index constituents are constrained such that each individual constituent has a weight greater than 0.
- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Market Cap
- $8.7M
- Beta
- 0.99
- 52-Week Range
- 38.969-44.837
- IPO Date
- Feb 9, 2021
- Exchange
- AMEX
USML Options Snapshot
Options pricing data for USML is refreshed daily after the close. When listed contracts exist, this page surfaces the latest at-the-money implied volatility, max pain strike, dealer gamma exposure (GEX), and 25-delta skew. Listed contracts and live snapshots appear once the options chain has been published by the exchange for the most recent session.
What This Page Covers
The USML overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks. Microstructure data is available on short interest, short volume, fail-to-deliver, and market structure.
Frequently asked USML overview questions
- What is USML?
- USML is the ticker symbol for ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN, an listed exchange-traded fund. USML offers 2x the daily performance of the MSCI USA Minimum Volatility Index, an index that optimizes the MSCI USA Index (parent index) to create a minimum-volatility portfolio within a given set of constraints. This optimization process uses an estimated co-variance matrix based on the Barra multi-factor equity model. Listed on AMEX. USML is the ETF ticker shown on this page; ETF traders use the fund for diversified exposure to its underlying basket, for sector and factor rotation, and for hedging or replication strategies via the listed options chain.
- What are USML's key statistics?
- ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML) carries a market capitalization of $8.7M, 52-week range of 38.969-44.837. Full holdings disclosure, expense ratio, and tracking-error history live on the per-ticker fundamentals page or the sponsor's site; daily NAV and premium/discount-to-NAV are accessible from the same view. These structural inputs frame how the ETF options market prices implied volatility relative to its constituents.
- What sector or industry does USML belong to?
- ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN operates in the Financial Services sector, in the Asset Management - Leveraged industry. Sector classification affects how the ticker correlates with sector ETFs, how it reacts to macro factors like rate moves and commodity prices, and how its options pricing compares to sector peers. Compare USML's implied volatility and skew against sector benchmarks to gauge whether the options market is pricing single-name or systemic risk relative to the broader peer group.
- How current is the USML data on this page?
- Options snapshots refresh after each trading session; if no snapshot is currently posted for USML, it usually reflects low options liquidity or a recently listed name. Fund-level fields (sponsor, expense ratio, holdings concentration where available) refresh from the vendor feed nightly. ETF-specific filings (N-CSR, N-PX, N-CEN) update on the SEC EDGAR cadence. FINRA microstructure data refreshes on the source's cadence; for ETFs the off-exchange volume signal is dominated by authorized-participant creation and redemption rather than directional flow.