DYYDB Commodity Double Long ETN
DYY Fund Description
The DB Commodity Double Long ETN provides 2x exposure to an index of futures contracts on wheat (11%), corn (11%), oil (55%), aluminum (13%) and gold (10%).
DYY Factset Analytics Insight
As a levered product, DYY is not a buy-and-hold ETF; it’s a short-term tactical instrument. Unlike most levered funds—which usually reset daily—DYY offers 2x exposure over one-month periods. Over periods that span one or more monthly reset dates, returns can vary significantly from its promised 2x exposure. Crucially, the plumbing that keeps DYY trading in line with its indicative value is broken: DYY has been closed for creations since February 2012. Consequently, it’s subject to premiums that may persist indefinitely. Management fees are reasonable, but as a short-term product, trading costs are relatively more important here. Access could be prohibitively expensive: in the past, average spreads have been extremely wide and variable, and the fund barely trades. AUM is low too. Only the most resolute and experienced investors should even consider navigating DYY’s myriad challenges.
DYY CHARTS AND PERFORMANCE
DYY Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of DYY. DYY is rated a 5 out of 5.