ETRACS IFED Invest with the Fed TR 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
12/31/2025 | 07:00 pm
USD 46.33

Current Spot Price USD 46.35
12/31/2025 | 04:10 pm

Index Profile

Underlying Index	IFED Large-Cap US TR Equity Index
Ticker symbol	IFEDLT

About the index

The IFED Large-Cap US Equity Index Total Return is a composite of large-cap U.S. equities that is designed to maximize exposure to those equities best positioned to benefit from the prevailing monetary environment. The Underlying Index uses a combination of Federal Reserve Board (the “Federal Reserve”) policy developments and twelve firm-specific metrics to select and weight stocks via a transparent and rules-based active strategy. The Underlying Index sponsor has developed empirical research that presents support for the view that, if measured properly, there is a significant and consistent association between the Federal Reserve monetary policy shifts and subsequent return on equities and other securities. The Underlying Index was first disseminated publicly on June 8, 2020 and has no live history prior to that date.

Index Historical Returns

Name	1 Month	3 Months	6 Months	1 Year	3 Years
IFED Large-Cap US TR Equity Index	--	--	--	--	--

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 are calculated on the basis of intraday index levels or closing index levels where relevant.

Constituent Weightings

Name	Ticker symbol	% Weight
Warner Bros. Discovery Inc	WBD	4.03
Gilead	GILD	3.26
SNOWFLAKE INC	SNOW	3.15
3M	MMM	3.02
Booking Holdings Inc	BKNG	2.98
Bristol-Myers Squibb	BMY	2.88
DoorDash INC	DASH	2.77
Electronic Arts	EA	2.71
CARDINAL HEALTH INC	CAH	2.36
Take-Two Interactive	TTWO	2.27
ROBLOX CORP		2.21
Expedia Group Inc	EXPE	1.97
Monster Beverage Corp	MNST	1.79
Estée Lauder	EL	1.77
ZSCALER INC	ZS	1.75
Las Vegas Sands	LVS	1.74
Alnylam Pharmaceuticals:Inc.		1.73
Airbnb Inc	ABNB	1.69
Atlassian Corp	TEAM	1.67
eBay	EBAY	1.61
DOLLAR TREE INC	DLTR	1.46
Southwest Airlines Co	LUV	1.37
Philip Morris International	PM	1.35
Nike	NKE	1.31
Lowes Companies	LOW	1.30
Mckesson Corp	MCK	1.28
Jabil Circuit INC		1.28
AT&T Inc.	T	1.24
DATADOG INC	DDOG	1.23
Rivian Auto Inc	RIVN	1.21
Ralph Lauren	RL	1.19
Twilio Inc		1.18
OTIS WORLDWIDE CORP		1.17
KIMBERLY-CLARK	KMB	1.16
Kroger	KR	1.15
Illumina, Inc.	ILMN	1.14
Colgate-Palmolive	CL	1.12
Adobe Systems	ADBE	1.11
Toast Inc		1.10
Autodesk	ADSK	1.09
Verisign		1.07
United Therapeutics Corp		1.07
CARVANA CL A ORD	CVNA	1.06
GLOBAL PAYMENTS INC	GPN	1.04
Zoom Video Communications Inc	ZM	0.95
Veeva Systems Inc		0.95
Fidelity National Info	FIS	0.94
Northern Trust Corp		0.93
COUPANG INC		0.91
Tapestry	TPR	0.88
INCYTE CORPORATION	INCY	0.87
Domino's Pizza Inc.	DPZ	0.81
Verizon Communications Inc.	VZ	0.80
Okta Inc.		0.80
HP Inc.	HPQ	0.79
Best Buy	BBY	0.78
YUM CHINA HOLDINGS INC	YUMC	0.76
NetApp	NTAP	0.75
State Street	STT	0.75
MASCO CORP		0.74
Chewy Inc.		0.73
AmerisourceBergen	COR	0.69
DocuSign Inc.	DOCU	0.68
PPG Industries, Inc.	PPG	0.67
Fortinet	FTNT	0.65
Nutanix Inc		0.64
GUIDEWIRE SOFTWARE INC		0.63
F5 Networks	FFIV	0.63
NRG Energy Inc		0.63
Samsara Inc	IOT	0.63
Humana	HUM	0.61
JACOBS SOLUTIONS INC.		0.58
Insulet Corp		0.52
Molina Healthcare Inc	MOH	0.51
Duolingo Inc	DUOL	0.44
Verisk Analytics Inc.	VRSK	0.43
Hims & Hers Health Inc		0.43
Paycom Software Inc.	PAYC	0.43

Source: INDXX, as of December 31, 2025.

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 prospectus, along with the applicable prospectus 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 prospectus supplement for each ETRACS may be viewed by clicking on the ticker symbol of each ETRACS identified above. You may also view any of 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.

Disclaimer Business continuity

Important legal and regulatory information:

The products, services, information and/or materials contained within these web pages may not be available for residents of certain jurisdictions. Please consult the sales restrictions relating to the products or services in question for further information. Activities with respect to US securities are conducted through UBS Securities LLC, a US broker dealer. Member of SIPC

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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 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").

The information in this section of the website may not be accessed in respect of the United Kingdom by persons who are retail investors. The securities referred to herein are not to be offered, sold or otherwise made available to any retail investor in the United Kingdom and any person who is a retail investor in the United Kingdom 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: a retail client as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "EUWA"); (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (the "FSMA") and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of the Prospectus Regulation as it forms part of domestic law by virtue of the EUWA ("UK Prospectus Regulation").