Looking at the UBS site, it shows a March 2015 distribution considerably higher than others. I understand that the amount of dividends varies by month and that they usually follow a 3 month cycle, but was this a one-off distribution or has the index remained roughly the same and can one reasonably expect a large distribution in June to fit this pattern?
Go to the UBS Website (Google "UBS ETRACS"), list of ETNS, and click on MORL on that list. Look at the tabs "Distributions" and "Components". This gives you plenty of info. Also Google "Lance Brofman MORL" on Seeking Alpha. Every month he puts out a projection of what MORL distribution may be (not always accurate) and shows you how distributions are calculated using the index components and their weights.