CEFD – ETRACS Monthly Pay 1.5X Lvgd CE Fd ETN – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to provide 1.5 times leveraged long exposure to the compounded quarterly performance of the S-Network Composite Closed-End Fund Index (the “index”), reduced by the Accrued Fees. The index is a mutual fund index designed to serve as a benchmark for closed-end funds listed in the U.S. that are principally engaged in asset management processes designed to produce taxable annual yield.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
CEFD	ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN	ETF	Open	—	—	Jun 2, 2020	$7.13M	—	—	—	−$1.01M

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