UBS ETRACS Silver Shares Covered Call ETN
UBS ETRACS Silver Shares Covered Call ETN (NASDAQ: SLVO) is an exchange-traded fund listed on NASDAQ, trading at $65.17 (about ₹6,261 a unit) as of 29 Sep 2026, 3:44 PM ET. It has an expense ratio of 0.65%. Indian residents can buy SLVO through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$64.60
Today's high
$65.31
52 week low
$61.01
52 week high
$107.41
SLVO opened at $64.72, closed previously at $64.66, and has traded between $61.01 and $107.41 over the past 52 weeks.
About
SLVO is neither the choice for those looking for exposure to physical silver nor does it provide pure exposure to silver futures. SLVO is structured as an ETN so it promises to track silver (and options on silver), not to hold it. Furthermore, its index has a notional short call position against the notional long position in the physically backed silver ETF, SLV. The calls are set to about 106% of the SLV`s price level. The covered call strategy gives investors indirect exposure to silver, but with limited upside as the nominal long position will get called away in periods of sharply rising prices or in volatile market environments. The tradeoff is yield as premiums from writing calls on an otherwise yield-less asset. SLVO aims to distribute the yield monthly, atypical for an ETN. Prior to May 31, 2024 the Issuer and counterparty credit risk of this ETN was Credit Suisse AG.
Key statistics
Expense ratio
0.65%
Assets (AUM)
$403.8M
Holdings
—
NAV
$64.66
Avg. volume
—
1-year price change
-29.00%
5-year price change
-33.77%
Price change excludes dividends.
How to buy SLVO from India
Indian residents can buy SLVO units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search SLVO and buy
Find the fund by its ticker, SLVO, on NASDAQ, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in SLVO from India
Trading and taxes when buying SLVO from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- 12.5% or slab rateGains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation. Gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate.Capital gains explained
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India. The US withholds tax on dividends paid to Indian residents at the treaty rate; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the SLVO price today?
UBS ETRACS Silver Shares Covered Call ETN (SLVO) last traded at $65.17 on NASDAQ, as of 29 Sep 2026, 3:44 PM ET. That is ₹6,261 a unit at the 28 Sep 2026 USD/INR rate.
When does SLVO trade, in Indian time?
NASDAQ trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is SLVO, and what does it cost to hold?
UBS ETRACS Silver Shares Covered Call ETN manages about $403.8M. Its expense ratio is 0.65% a year, deducted inside the fund. It launched in 2013.
Does SLVO pay dividends?
Yes. SLVO is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate. The US withholds 25% tax on dividends before they reach you; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit when you file in India.
How are gains on SLVO taxed in India?
Units held for more than 24 months are long-term and taxed at 12.5% without indexation; units held for 24 months or less are taxed at your income-tax slab rate. The gain is worked out in rupees, so the currency move counts.
Can I buy fractional units of SLVO?
Yes. You can buy SLVO by amount rather than by whole unit, and there is no minimum trade size.
How has SLVO performed?
SLVO's price is down 29.0% over the past year and down 33.8% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.