ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN
SMHBStock · monthly payer
Forward Yield
22.16%
Annual Dividend
$0.77
Payout Ratio
—
5-Yr Growth
-6.9%
Ex-Date
—
Frequency
Monthly
Summary
As of September 2026, ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN (SMHB) yields 22.16% ($0.77 per share annually), with a blended fair-value estimate of $9.55 — +172% upside, so it screens as undervalued. Dividend safety grade: C (55/100).
Is SMHB a good dividend stock?
MixedETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN (SMHB) pays a monthly dividend yielding 22.16% ($0.77/yr), with 0 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
Risks
- Cut its dividend in 2025
- Dividend has been shrinking, not growing
- Very high yield can signal elevated risk
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 22.16%
- Payout Ratio
- —
- Annual Dividend
- $0.77
- 5-Yr Avg Growth
- -6.9%
- Ex-Dividend Date
- —
- Years of Growth
- 0
- Frequency
- monthly
- Beta
- —
- Market Cap
- —
- P/E Ratio
- —
- 5-Yr Total Return
- -71%
- 52-Week Range
- $3.36 – $4.71
- Dividend Safety
- C · 55/100
- Ever Cut?
- Yes (2025)
Frequently Asked Questions
SMHB Price — Last 12 Months
Daily close
Price Return
1 Year
-15%
3 Years
-31%
5 Years
-71%
52-Week Range
$3.36 – $4.71
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is SMHB worth?
Undervaluedlow confidenceOur blended fair-value estimate for ETRACS 2xMonthly Pay Leveraged US Small Cap High Dividend ETN is $9.55 per share, versus a market price of $3.51. That implies 172% of upside — a margin of safety of about 63%.
Fair Value
$9.55
Current Price
$3.51
Upside
+172%
Margin of Safety
63%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Assumptions: 9.3% discount rate (CAPM), -5.0% stage-1 growth, 2.5% terminal growth, $0.77 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
SMHB Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full SMHB dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 14, 2026 | — | $0.0470 | regular |
| Aug 12, 2026 | — | $0.0310 | regular |
| Jul 14, 2026 | — | $0.1040 | regular |
| Jun 12, 2026 | — | $0.0480 | regular |
| May 13, 2026 | — | $0.0780 | regular |
| Apr 13, 2026 | — | $0.0720 | regular |
| Mar 13, 2026 | — | $0.0420 | regular |
| Feb 12, 2026 | — | $0.0700 | regular |
| Jan 13, 2026 | — | $0.0810 | regular |
| Dec 12, 2025 | — | $0.0420 | regular |
| Nov 12, 2025 | — | $0.0340 | regular |
| Oct 10, 2025 | — | $0.1220 | regular |
| Sep 15, 2025 | — | $0.0590 | regular |
| Aug 12, 2025 | — | $0.0310 | regular |
Income Calculator
At $0.77 / yr per share
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