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SMHB ETF ANALYSIS

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SMHB ETF FUNDAMENTALS
SMHB ETF PERFORMANCE

SMHB ISSUER

The issuer of the SMHB ETF, UBS, offers investors a leveraged approach to dividend-paying US small-cap stocks. Launched as a replacement (Series B) for its sibling SMHD, SMHB tracks an index that selects the top 100 small-cap companies with the highest estimated 12-month forward dividend yield from the 2000 smallest companies among the 3000 largest US stocks. The ETF applies a 2x leverage factor with monthly resets, making it suitable for longer-term holding periods. It also features a unique reset mechanism triggered by a 20% decline in the underlying index from the previous month, including intraday movements, which sets it apart from other leveraged products.

SMHB DIVIDEND

The UBS ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN (SMHB) offers investors a unique approach to dividend distribution. SMHB provides double leverage on the performance of the Solactive Small Cap High Dividend Index, which comprises high-yielding small-cap stocks. Dividend distributions from SMHB occur on a monthly basis, making it an attractive option for income-focused investors. However, it's important to note that the ETF's leverage can amplify both gains and losses, which may impact the consistency and stability of its dividend payments.

SMHB TRACKING

The ProShares UltraPro Short MidCap 400 ETF (SMHB) aims to track the performance of the S&P MidCap 400 Index with a 3x inverse leverage factor. This ETF provides investors with a means to profit from a decline in the mid-cap segment of the U.S. equity market. SMHB is designed to deliver three times the inverse daily return of the index, making it a tool for traders and investors who have a bearish outlook on mid-cap stocks. It's important to note that due to the compounding effect of daily returns, SMHB's performance over longer holding periods may deviate from three times the index's inverse return.

SMHB CORRELATION

The correlation aspect of the UBS ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN (SMHB) is known for its strong linkage to the performance of small-cap dividend-paying U.S. stocks. Given its strategy of providing 2x leveraged exposure to the 100 small-cap companies with the highest estimated 12-month forward dividend yield, SMHB's correlation with the broader small-cap and dividend-paying sectors is expected to be notable. This makes SMHB a useful tool for investors looking to amplify their exposure to this specific segment of the market. To delve deeper into SMHB's correlations and gain valuable insights, investors can utilize ETF Insider's web app, which offers comprehensive data visualization tools and the ability to identify overlap with other U.S. ETFs.

SMHB SECTOR

The UBS ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN (SMHB) primarily focuses on the small-cap segment of the U.S. equity market. It selects its holdings from the 2000 smallest companies among the 3000 largest U.S. stocks, emphasizing those with the highest estimated 12-month forward dividend yield. These holdings are weighted based on a 3-month average daily dollar volume, with an individual security cap of 5%. SMHB applies a 2x leverage factor to its underlying index, reset monthly, making it suitable for longer-term holdings. Additionally, it pays a monthly coupon equal to twice the yield of the underlying index. In the event of a 20% or more drop in the underlying index from the previous month, including intraday, SMHB's leverage will reset.

SMHB EXPOSURE

The exposure characteristic of the UBS ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN (SMHB) underscores its leveraged approach to dividend-paying US small-cap stocks. This ETN's underlying index selects from the 2000 smallest companies among the 3000 largest US stocks, focusing on the 100 small-caps with the highest estimated 12-month forward dividend yield. Holdings are weighted based on 3-month average daily dollar volume, with a single security cap of 5%. SMHB applies a 2x leverage factor to this index, reset monthly, making it suitable for longer holding periods, although investors should be mindful of compounding effects. The note pays a monthly coupon equal to twice the yield of the underlying index. For detailed insights into SMHB's exposure, its overlap with other assets, and correlations, you can use our ETF Insider web app, which offers comprehensive data and visualization tools for US ETFs.

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FREQUENTLY ASKED QUESTIONS

Can you explain the correlation of SMHB with the U.S. equity market?
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How does SMHB's dividend strategy compare to other funds like QQQ and IWM?
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What does SMHB mean on the stock market?
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