{
 "ticker": "SMHB",
 "name": "ETRACS Monthly Pay 2x Leveraged Small Cap High Dividend ETN Series B",
 "issuer": "ETRACS",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/smhb",
 "html": "https://etfiq.com/funds/smhb",
 "markdown": "https://etfiq.com/funds/smhb.md",
 "as_of": "2026-10-09",
 "verdict": "SMHB aims to return +2 times Small Cap High Dividend's move each day, then resets. Over one day it does that.",
 "key_facts": [
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "an exchange traded note holds no assets; it is the issuing bank\u2019s unsecured debt",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "SMHB, net assets: an exchange traded note holds no assets; it is the issuing bank\u2019s unsecured debt, as of Oct 9, 2026."
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "Small Cap High Dividend (no investable tracker)",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "SMHB, underlying: Small Cap High Dividend (no investable tracker), as of Oct 9, 2026."
  },
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of Small Cap High Dividend, reset daily",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "SMHB, sets out to return: +2 times the daily move of Small Cap High Dividend, reset daily, as of Oct 9, 2026."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of Small Cap High Dividend, reset daily",
   "source": null
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "Small Cap High Dividend (no investable tracker)",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "broad index, index variant",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "an exchange traded note holds no assets; it is the issuing bank\u2019s unsecured debt",
   "source": null
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "not read by ETFIQ",
   "source": null
  },
  {
   "key": "first_traded",
   "label": "First traded",
   "value": "Nov 14, 2018",
   "source": null
  }
 ],
 "periods": [],
 "questions": [
  {
   "q": "Why does SMHB not return +2 times over a year?",
   "a": "Because it resets daily. SMHB aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  }
 ],
 "generated": "2026-10-10",
 "license": "https://etfiq.com/license/",
 "license_text": "Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, SMHB, leveraged ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/smhb"
}