# UBS ETRACS NYSE Pickens Core Midstream Index ETN (PYPE) ETF

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> **Last updated:** 2026-03-15 UTC  
> **Disclaimer:** This is not financial advice. Educational purposes only.

## Quick Answer

The securities are senior unsecured medium-term notes issued by UBS with a return linked to the performance of the index. 0.85% expense ratio, $4M AUM, inception 2018.

## Fund Snapshot

- **Fund Name:** UBS ETRACS NYSE Pickens Core Midstream Index ETN
- **Symbol:** PYPE
- **Asset Class:** Equity
- **Issuer:** UBS
- **Domicile:** US
- **Expense Ratio:** 0.85%
- **NAV:** $21.35
- **AUM:** $4.13M
- **Inception Date:** 2018-08-20
- **Holdings Count:** 0
- **Dividend Yield:** 662.00%
- **Beta:** 0.89

## About UBS ETRACS NYSE Pickens Core Midstream Index ETN

The securities are senior unsecured medium-term notes issued by UBS with a return linked to the performance of the index. The securities may pay a quarterly coupon during their term. The index measures the performance of the common stock of corporations and units of master limited partnerships (“MLPs”) which represent U.S. midstream energy fundamentals, agnostic of entity structure.

## Investment Strategy

The securities are senior unsecured medium-term notes issued by UBS with a return linked to the performance of the index. The securities may pay a quarterly coupon during their term. The index measures the performance of the common stock of corporations and units of master limited partnerships (“MLPs”) which represent U.S. UBS ETRACS NYSE Pickens Core Midstream Index ETN provides exposure to the equity market.

## Risk Profile

UBS ETRACS NYSE Pickens Core Midstream Index ETN holds only 0 positions, creating elevated concentration risk where poor performance from a few holdings can significantly impact returns. The 0.85% expense ratio is above average and will reduce net returns over time. With $4M in assets, the fund may face liquidity constraints and wider bid-ask spreads.

## Frequently Asked Questions

### What is UBS ETRACS NYSE Pickens Core Midstream Index ETN (PYPE)?

The securities are senior unsecured medium-term notes issued by UBS with a return linked to the performance of the index. The securities may pay a quarterly coupon during their term. With $4M in assets under management, it is a funds in its category.

### What is the expense ratio for PYPE?

UBS ETRACS NYSE Pickens Core Midstream Index ETN has an expense ratio of 0.85%, which is considered higher than average for equity ETFs. This means for every $10,000 invested, annual fees would be approximately $85. Lower expense ratios generally lead to better long-term returns, all else being equal.

### How long has PYPE been around?

UBS ETRACS NYSE Pickens Core Midstream Index ETN was launched in 2018, making it 8 years old. It has several years of operating history for investors to evaluate. It is managed by UBS.

### Does PYPE pay dividends?

Yes, UBS ETRACS NYSE Pickens Core Midstream Index ETN currently offers a dividend yield of approximately 6.62%. This is a high-yield ETF relative to the broader market. Dividend distributions are typically paid quarterly, though the amount can vary.

### What is the current NAV of PYPE?

UBS ETRACS NYSE Pickens Core Midstream Index ETN has a net asset value (NAV) of approximately $21.35 per share. The NAV represents the per-share value of the fund's underlying assets minus liabilities. Market price may differ slightly from NAV due to supply and demand dynamics during trading hours.

## Data Sources

- Yahoo Finance (ETF bundle)
- Issuer prospectus
- Stock Expert AI proprietary analysis

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All content on Stock Expert AI is for educational and informational purposes only. Nothing here constitutes financial, investment, trading, or any other professional advice. Users should consult qualified financial advisors before making investment decisions.

ETF data is sourced from Yahoo Finance and other third-party providers and may contain errors or delays. Past performance does not guarantee future results. Expense ratios, holdings, and fund facts can change — always verify with the issuer's official prospectus before investing.

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