ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN

An intraday "indicative value" is used to measure the intrinsic value of each ETN and is for reference purposes only. Note: The market price (the actual trading price) of ETNs may be different from their indicative value.
Current Indicative Value
10/29/2020 | 08:00 pm
USD 24.72

Current Spot Price USD 24.73
10/29/2020 | 04:10 pm

Index Profile

Underlying Index	S-Network Composite Closed-End Fund Index
Ticker symbol	CEFX

About the index

The S-Network Composite Closed-End Fund 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. The Index is a price return index (i.e., the reinvestment of dividends is not reflected in the value of the Index). The Index contains closed-end funds selected from three main taxable annual yield sectors: Investment Grade Fixed Income Closed-End Funds, High-Yield Fixed Income Closed-End Funds, and Option Income Closed-End Funds. The Index was created in January 7, 2010 and has no live performance history prior to that date.

Index Historical Returns

Name	1 Month	3 Months	6 Months	1 Year	3 Years
S-Network Composite Closed-End Fund Index	-1.76%	-2.83%	5.35%	-11.94%	-16.80%

Source: UBS Investment Bank, publicly available data.

Historical information presented is furnished as a matter of information only. Historical performance of the Index is not an indication of future performance. Future performance of the Index may differ significantly from historical performance, either positively or negatively.

Index Historical Returns presented are based on intraday levels.

Constituent Weightings

Name	Ticker symbol	% Weight
Eaton Vance Limited Duration Income Fund	EVV	2.63
Nuveen Pfd Sec Income Fd	JPS	2.43
Blackrock Corporate High Yield Fund	HYT	2.19
BlackRock Credit Allocation Income Trust	BTZ	2.16
Nexpoint Credit	NHF	1.90
Alliancebernstein Global High Income Fund Inc	AWF	1.83
BlackRock Taxable Municipal Bond Trust	BBN	1.82
Doubleline Income Solutions	DSL	1.77
Nuveen Credit Strategies Income Fund	JQC	1.66
Templeton Global Icm	GIM	1.55
Western Asset Emerging Markets Debt Fund	EMD	1.50
BlackRock Resources & Commodities Strategy Trust	BCX	1.20
Western Asset High Income Opportunity Fund Inc	HIO	1.19
Nuveen Preferred Income Opportunities Fund	JPC	1.18
Brookfield R A Incm	RA	1.17
Prudential Global Short Duration High Yield Fundd	GHY	1.16
BlackRock International Growth and Income Trust	BGY	1.09
BlackRock Enhanced Capital and Income Fund, Inc.	CII	1.07
Voya Prime Rate Trst	PPR	1.05
Blackrock Multi-Sector Income	BIT	1.01
Western Asset High Income Fund II	HIX	1.01
Voya Global Equity Dividend and Premium Opportunity Fund	IGD	0.98
Eaton Vance Floating-Rate Income Trust	EFT	0.95
First Trust High Income Long/short Fund	FSD	0.95
John Hancock T/a Dvd Income	HTD	0.94
Blackrock Ltd Dur In	BLW	0.92
Wells Fargo Advantage Income Opportunities Fund	EAD	0.90
PGIM High Yield Bond Fund Inc	ISD	0.88
Cohen & Steers Limited Duration	LDP	0.84
Flaherty & Crumrine Preferred Securities Income	FFC	0.83
Eaton Vance Sr Fltg	EFR	0.82
BlackRock Floating Rate Income Strategie	FRA	0.82
Templeton Emerg Mkts Inc Fd	TEI	0.75
Western Asset Global High Income fund Inc	EHI	0.71
MFS Intermediate Income	MIN	0.71
MFS Charter Income Trust	MCR	0.70
MFS Multimarket Income Trust	MMT	0.64
PIMCO Income Strategy Fund II	PFN	0.59
Wells Fargo Advantage Multi Sector Income Fund	ERC	0.57

Source: S-Network, as of June 1st, 2020

Constituent Weightings

Important legal information specific to ETRACS ETNs.

UBS AG has filed a registration statement (including a prospectus and supplements thereto) with the Securities and Exchange Commission, or SEC, for the offerings of securities to which this communication relates. Before you invest, you should read the applicable prospectus, along with the applicable prospectus, pricing or product supplement to understand fully the terms of the securities and other considerations that are important in making a decision about investing in the ETRACS. The applicable offering document for each ETRACS may be obtained by clicking on the ticker symbol of each ETRACS identified above or as otherwise indicated. You may also get these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. The securities related to the offerings are not deposit liabilities and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency of the United States, Switzerland or any other jurisdiction.

The information in this section of the website may not be accessed in respect of any member state of the European Economic Area ("EEA") by persons who are retail investors. The securities referred to herein are not to be offered, sold or otherwise made available to to any retail investor in the EEA and any person who is a retail investor in the EEA should not act or rely on this information or any of its contents. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); (ii) a customer within the meaning of Directive 2002/92/EC (the "Insurance Mediation Directive"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in Directive 2003/71/EC (as amended, the "Prospectus Directive").

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