Most of the CEFs in the index pay quarterly so the monthly should reflect that in a much smaller 1st coupon. Since it is an ETN it will also reset in price to exactly track the underlining index x2 so don't chase it. Instead wait for a monthly reset. Bad timing could get you a 2x leveraged downside move. The underlining have often sold off at year's end in the past. Great income potential if you can handle a little more volatility.