UBS Investment Bank has launched two new ETNs on the NYSE Arca – the ETRACS ISE Exclusively Homebuilders ETN (HOMX) and the ETRACS Monthly Reset 2xLeveraged ISE Exclusively Homebuilders ETN (HOML).
HOMX is linked to the performance of the ISE Exclusively Homebuilders Total Return Index and HOML is linked to the monthly compounded 2x leveraged performance of the ISE Exclusively Homebuilders Total Return Index.
“The current market offering of homebuilders exchange traded products often conflates exposure between actual homebuilders and home related consumer discretionary equities”, says Christopher Yeagley, Head of ETRACS. “We believe HOMX and HOML add value to investors by providing direct exposure to exclusively homebuilders.”
