ETRACS 2x Leveraged US Size Factor TR ETN (IWML) ETF Holdings & Analysis

What IWML does

IWML is a leveraged exchange-traded note (ETN) designed to deliver twice the daily performance of the Russell 2000 index. Given its geared structure, it is inappropriate for long-term holding and should instead be utilized as a short-term tactical trading instrument. The underlying Russell 2000 benchmark primarily tracks small-capitalization companies, but its composition also extends to include mid-cap and a significant number of micro-cap firms, collectively representing approximately 10% of the total market value. A critical characteristic is that its 2x leverage resets daily, meaning it targets two times the daily return of the index, not cumulative returns over extended periods. Additionally, the ETN's leverage target is rebalanced on a quarterly schedule. As an exchange-traded note, investors are exposed to the credit risk of its issuer, UBS. The underlying index itself undergoes an annual reconstitution process.

Fund profile

PortView Portfolio Insights

PortView analyzes how IWML fits your actual portfolio — position weight, ETF overlap with your other funds, sector and geographic exposure, concentration, and how this fund contributes to your portfolio risk and return. Connect a portfolio to see your personalized figures; PortView never shows another user's private holdings.

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Frequently asked questions

What does IWML track?

IWML is the ETRACS 2x Leveraged US Size Factor TR ETN, a Other ETF.

What is the expense ratio of IWML?

Expense ratio data for IWML is shown on the page when available from our data provider.

What are the largest holdings in IWML?

IWML's top holdings are listed on this page when available.

How can PortView analyze IWML overlap with other ETFs?

PortView computes the holdings overlap between IWML and the other ETFs and stocks you own, plus your combined sector and geographic exposure, so you can see true diversification.