Lights Going Out For OFF and ONN

The creators of UBS AG ETRACS Fisher-Gartman Risk On ETN (ONN) and UBS AG ETRACS Fisher-Gartman Risk Off ETN (OFF) thought these ETNs would live for 30 years and set the due date accordingly.  However, the November 27, 2041 maturity will never be reached.  Their values will be frozen on May 6, their... 

Thursday Is Last Day To Trade Four VelocityShares ETNs

VelocityShares is pulling the plug on four of its commodity related exchange traded notes (“ETNs”).  Thursday, December 26, will be the last day of trading for VelocityShares 3x Long Brent Crude Oil ETN (UOIL), VelocityShares 3x Inverse Brent Crude Oil ETN (DOIL), VelocityShares 2x Long Platinum... 

JPMorgan Delisting Three ETNs But Only Liquidating Two

Some ETP sponsors make shareholder satisfaction a top priority while others exhibit little concern for their shareholders.  JPMorgan Chase & Co. (JPM) appears to be a member of the latter group.  Last Friday (9/20/13), JPMorgan announced its intent to delist the KEYnotes First Trust Enhanced 130/30... 

DVHI: New ETRACS Diversified High Income ETN an Attractive Offering

UBS (UBS) rolled out the ETRACS Diversified High Income ETN (DVHI) on Thursday (9/19/13).  The new exchange traded note (“ETN”) is targeted at investors desiring significant monthly income from a diversified multi-asset mix.  It will track the new NYSE Diversified High Income Index minus the 0.84%... 

UBS Mortgage REIT ETP Yielding 27%

Yield seeking investors need to be aware of an exchange traded product (“ETP”) issued by UBS.  The ETRACS Monthly Pay 2xLeveraged Mortgage REIT ETN (MORL) is about a month away from its first anniversary but has already solidified its reputation as the highest yielding U.S.-listed ETP.  MORL’s... 

Checking In On The MLPI-AMLP Taxman Trade

Three years ago today, investors received their first warnings about the problems of owning MLPs inside an ETF.  Unlike all the other ETFs that came before it, the Alerian MLP ETF (AMLP) from ALPS was the first ETF structured as a C-corporation and saddled with federal and state income tax liabilities. ... 

UBS Calls 7 ETRACS ETNs For Redemption

Wednesday, June 5, 2013 will be the last day of trading for seven exchange traded notes (“ETNs”) issued by UBS under the ETRACS brand.  The final redemption value will be determined at the close of business the following day (June 6).  To avoid any closure related surprises, we believe it is in... 

Broken Product Count Jumps To 39 With Deutsche Bank ETN Creation Suspensions

Deutsche Bank (DB) announced it will temporarily suspend creations of 26 exchange-traded notes (“ETNs”) after the close of trading on March 29, 2013 (sic).  DB apparently forgot March 29 is a market holiday, so the last day of “non-broken” status for these ETNs will actually be March 28.  The... 

RBS Rolls Out Five Rogers Enhanced Commodity ETNs

The Royal Bank of Scotland (RBS) introduced five new exchange traded notes (“ETNs”) on November 15.  The new ETNS are based on “enhanced” versions of Rogers International Commodity Indexes (“RICI”).  The underlying indexes were developed by RBS and Jim Rogers in October 2007 and have been maintained... 

New Barclays Shiller CAPE Sector Rotation ETN

Barclays introduced a new exchange traded note (“ETN”) on October 11 under the ETN+ brand instead of the more familiar iPath brand.  The Barclays ETN+ Shiller CAPE ETN (CAPE) will track the Shiller Barclays CAPE US Core Sector Index minus the 0.45% annual fee.  The Cyclically Adjusted Price Earnings... 

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