The ETRACS 2X Leveraged MSCI USA Quality ETF (QULL) is an exchange-traded fund (ETF) that seeks to track the performance of the MSCI USA Enhanced Value Index. The fund aims to provide leveraged exposure to the index by using swaps and other derivatives.
The MSCI USA Enhanced Value Index is a subset of the MSCI USA Index that includes large and mid-cap companies with higher quality and value characteristics. The index uses a factor-based approach to identify companies with strong balance sheets, stable earnings growth, and attractive valuations.
As a leveraged ETF, QULL is designed to provide double the daily return of the index it tracks. However, this means that QULL can also experience double the losses of the index if it goes down. Leveraged ETFs are generally considered to be more complex and risky than traditional ETFs and are typically used by experienced investors who understand their unique characteristics and risks.
QULL charges an expense ratio of 0.85% and trades on the NYSE Arca exchange. It is issued by UBS ETRACS and has been trading since 2015.
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