SLVOUBS ETRACS Silver Shares Covered Call ETN
Provides exposure to a monthly covered call strategy on iShares Silver Trust (SLV) shares, paying variable monthly cash coupons from notional call option premiums.
By UBS AG · Launched 2013
0.65%
#3,297 of 5,562 · average
$382M
#1,790 of 5,562 · large
46.02%
13 years
#1,072 of 5,562 · established
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundAsset class
AlternativeRegion
North americaStrategy
Option income
Index tracked
Credit Suisse NASDAQ Silver FLOWS 106 Index
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Where to buy
Listing
- Exchange
- NASDAQ Global Select Market
Full fund details
- Objective
- Provides exposure to a monthly covered call strategy on iShares Silver Trust (SLV) shares, paying variable monthly cash coupons from notional call option premiums.
- Strategy
- Tracks the Credit Suisse NASDAQ Silver FLOWS 106 Index, which reflects a covered call strategy on iShares Silver Trust (SLV) shares — combining changes in the SLV share price with notional premiums received from the monthly sale of call options on SLV, less notional transaction costs. Pays variable monthly cash coupons funded by those notional option premiums.
- Inception date
- April 16, 2013
- Fund family
- UBS AG
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Covered call ETF — yield ≠ total return
The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.
Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
Why we flagged this: strategy=option_income + option_income_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-06-19