ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT 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
11/21/2025 | 04:29 pm
USD 14.39

Current Spot Price USD 14.36
11/21/2025 | 04:10 pm

Index Profile

Underlying Index	MVIS US Mortgage REITs Index
Ticker symbol	MVMORT

About the index

The MVIS US Mortgage REITs Index is a modified capitalization-weighted, float-adjusted index designed to give investors a means of tracking the overall performance of publicly-traded mortgage REITs that are listed and incorporated in the United States and derive at least 50% (25% for current Index components) of their revenues from mortgage-related activity. This includes REITs that are primarily engaged in the purchase or service of commercial or residential mortgage loans or mortgage-related securities. The Index is a price return index (i.e., the reinvestment of dividends is not reflected in the value of the Index). The Index was created in August 4, 2011 and has no live performance history prior to that date.

Index Historical Returns

Name	1 Month	3 Months	6 Months	1 Year	3 Years
MVIS US Mortgage REITs Index	-1.57%	-4.12%	4.22%	-6.78%	-17.67%

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
Annaly Capital Management Inc	NLY	15.96
American Capital Agency Corp	AGNC	14.85
New Residential Investment Corp	RITM	7.58
Starwood Property Trust Inc	STWD	7.51
Blackstone Mortgage Trust Inc	BXMT	5.07
Armour Residential Reit Inc	ARR	4.88
Dynex Capital Inc	DX	4.58
Ellington Financial LLC (EFC)	EFC	3.64
Arbor Realty Trust Inc	ABR	3.49
Orchid Island Capital Inc	ORC	3.35
Ladder Capital Corp	LADR	3.29
Apollo Commercial Real Estat	ARI	3.09
Chimera Investment Corp	CIM	2.52
TWO HARBORS INVESTMENT CORP	TWO	2.47
Pennymac Portgage Investment	PMT	2.43
MFA Financial Inc	MFA	2.39
Franklin Bsp Realty Trust Inc	FBRT	2.04
Brightspire Capital Inc	BRSP	1.78
ADAMAS TRUST INC	ADAM	1.69
Invesco Mortgage Capital	IVR	1.49
Tpg Re Finance Trust Inc	TRTX	1.48
Redwood Trust Inc	RWT	1.46
Kkr Real Estate Finance Trus	KREF	1.13
Ready Capital Corp	RC	1.06
Chicago Atlantic Real Estate Finance Inc	REFI	0.78

Source: MV Index Solutions GmbH, as of November 21, 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

For information as to which entity provides the services in each jurisdiction click here.

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").