ETRACS Monthly Pay 2xLeveraged US Small Cap High Dividend ETN Series B

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
12/23/2025 | 10:48 am
USD 3.92

Current Spot Price USD 3.93
12/23/2025 | 11:00 am

Index Profile

Underlying Index	Solactive US Small Cap High Dividend Index
Ticker symbol	SOLSMHD

About the index

The Solactive US Small Cap High Dividend Index is intended to track the price movements of stocks which are publicly traded on US stock exchanges and fulfill certain minimum requirements in terms of market capitalization. From this universe, the stocks with high Forward Looking Distribution Yield.
The Index was created on January 26, 2015, and therefore, has no performance history prior to that date.

Index Historical Returns

Name	1 Month	3 Months	6 Months	1 Year	3 Years
Solactive US Small Cap High Dividend Index	3.16%	-7.14%	-3.36%	-9.43%	-8.06%

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
Western Un Co	WU	5.55
Civitas Resources Inc	CIVI	4.99
Noble Corp Plc	NE	4.43
Americold Realty Trust	COLD	3.88
Armour Residential Reit Inc	ARR	3.81
Common stock of Huntsman Corporation	HUN	3.50
Dynex Capital Inc	DX	3.44
Robert Half Intl Inc	RHI	3.43
Kinetik Holdings Inc	KNTK	3.09
Northern Oil And Gas Inc	NOG	2.89
Uwm Holdings Corp	UWMC	2.57
Flowers foods	FLO	2.55
Fs Kkr Capital Corp	FSK	2.46
Park Hotels & Resorts Inc	PK	2.32
Outfront Media Inc	OUT	2.15
Apple Hospitality Reit Inc	APLE	2.15
Orchid Island Capital Inc	ORC	1.93
FMC	FMC	1.89
National Storage Affiliates Trust	NSA	1.76
Cogent Communications Holdings Inc	CCOI	1.67
Blackstone Mortgage Trust Inc	BXMT	1.53
TWO HARBORS INVESTMENT CORP	TWO	1.39
Hercules Technology Growth Capital Inc	HTGC	1.27
Artisan Partners Asset Management Inc	APAM	1.26
Arbor Realty Trust Inc	ABR	1.11
Golub Capital BDC Inc	GBDC	1.11
Monro Inc	MNRO	1.05
Oxford Industries Inc	OXM	1.05
Ellington Financial LLC (EFC)	EFC	1.04
Atlas Energy Solutions Inc	AESI	1.04
Rlj Lodging Trust	RLJ	1.00
Bloomin Brands Inc	BLMN	0.99
Innovative Industrial Proper	IIPR	0.96
Invesco Mortgage Capital	IVR	0.91
Dineequity Inc	DIN	0.88
MFA Financial Inc	MFA	0.87
Rent-a-center Inc	UPBD	0.85
Capital Southwest Corp	CSWC	0.83
Alexanders Inc	ALX	0.75
Global Net Lease Inc	GNL	0.74
Trinity Capital Inc	TRIN	0.74
Pennymac Portgage Investment	PMT	0.67
B&g Foods Inc	BGS	0.66
Easterly Government Properties Inc	DEA	0.64
TPG Specialty Lending Inc	TSLX	0.62
PennantPark Floating Rate Capital Ltd	PFLT	0.62
Getty Realty Corp	GTY	0.58
Apollo Commercial Real Estat	ARI	0.56
Oaktree Specialty Lending Corp	OCSL	0.52
Sinclair Inc	SBGI	0.50
Ladder Capital Corp	LADR	0.49
Brandywine Realty Trust	BDN	0.48
Goldman Sachs Bdc Closed End Fund	GSBD	0.47
Chimera Investment Corp	CIM	0.46
Sila Realty Trust Inc	SILA	0.46
Gray Television Inc	GTN	0.46
Vitesse Energy Inc	VTS	0.41
American Assets Trust Inc	AAT	0.40
Tcg Bdc Inc	CGBD	0.40
GLOBAL MEDICAL REIT INC	GMRE	0.39
Kkr Real Estate Finance Trus	KREF	0.38
Redwood Trust Inc	RWT	0.38
Tpg Re Finance Trust Inc	TRTX	0.37
Ready Capital Corp	RC	0.37
Franklin Bsp Realty Trust Inc	FBRT	0.35
New Mountain Finance Corp	NMFC	0.34
Cto Realty Growth Inc	CTO	0.34
Tfs Financial Corp	TFSL	0.32
Gladstone Commercial Corp	GOOD	0.31
ADAMAS TRUST INC	ADAM	0.29
Washington Trust Bancorp	WASH	0.28
Bain Capital Specialty Finance Inc	BCSF	0.27
Armada Hoffler Properties Inc	AHH	0.26
Barings Bdc Inc	BBDC	0.26
Community Healthcare Trust Inc	CHCT	0.25
Brightspire Capital Inc	BRSP	0.25
GLADSTONE CAPITAL CORP	GLAD	0.25
TCP Capital Corp	TCPC	0.24
Fidus Investment Corp	FDUS	0.23
Solar Capital Ltd	SLRC	0.20
Crescent Capital Bdc Inc.	CCAP	0.20
Universal Health Realty Income Trust	UHT	0.18
Midland States Bancorp Inc	MSBI	0.17
Movado Group Inc	MOV	0.17
Granite Ridge Resources Inc	GRNT	0.16
Newtek Business Services Corp	NEWT	0.16
Curiositystream Inc	CURI	0.15
Ares Commercial Real Estate Corp	ACRE	0.13
Saul Centers Inc	BFS	0.13
Acco Brands Corp	ACCO	0.12
AG MORTGAGE INVESTMENT TRUST	MITT	0.11
Karat Packaging Inc	KRT	0.11
The Rmr Group Inc	RMR	0.10
Spok Holdings Inc	SPOK	0.10
Chicago Atlantic Real Estate Finance Inc	REFI	0.10
One Liberty Properties Inc	OLP	0.09
Angel Oak Mortgage Inc	AOMR	0.08
Alpine Income Property Trust Inc	PINE	0.08
Braemar Hotels & Resorts Inc	BHR	0.07
Evolution Petroleum Corp	EPM	0.05

Source: Solactive, as of December 22, 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

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