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The MSCI USA Minimum Volatility (USD) Index aims to reflect the performance characteristics of a minimum variance strategy applied to the large and mid cap USA equity universe. The index is calculated by optimizing the MSCI USA Index, its parent index, in USD for the lowest absolute risk (within a given set of constraints). Historically, the index has shown lower beta and volatility characteristics relative to the MSCI USA Index.
Etracs 2X Leveraged MSCI US Minimum Volatility Factor Tr ETN trades on the ARCA stock market under the symbol USML.
As of March 20, 2026, USML stock price declined to $40.09 with 198 million shares trading.
USML has a market cap of $4.01 million. This is considered a Sub-Micro Cap stock.
In the last 3 years, USML traded as high as $47.66 and as low as $25.62.
USML has underperformed the market in the last year with a price return of -3.2% while the SPY ETF gained +16.6%. However, in the short term, USML had mixed performance relative to the market. It has outperformed in the last 3 months, returning -4.3% vs -4.4% return in SPY. But in the last 2 weeks, USML shares have been beat by the market, returning -8.2% compared to an SPY return of -3.3%.
USML support price is $40.40 and resistance is $41.46 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that USML shares will trade within this expected range on the day.
