LDiPath Bloomberg Lead Subindex Total Return ETN
LD Fund Description
The iPath Bloomberg Lead Subindex Total Return ETN tracks an index that consists of one futures contract on tin, rolled over every other month.
LD Factset Analytics Insight
LD tracks an index that provides exposure to lead by holding a single contract at a time, starting two months from maturity and rolled over shortly before expiration. This practice serves as a decent proxy for spot tin prices; however, LD suffers from extremely poor liquidity and massive bid/ask spreads making it incredibly difficult and costly to trade. Months have gone by without a single share changing hands. Unfortunately, LD’s sister fund, LEDD, is more expensive and just as illiquid. The note is at high risk of closure due to small AUM and minimal trading volume (ETN’s rarely close outright, but may be delisted by the issuer).
LD CHARTS AND PERFORMANCE
LD Portfolio Management
LD Tax Exposures
LD Fund Structure
LD Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of LD. LD is rated a 5 out of 5.
LD SECTOR BREAKDOWN
LD Tenor Strategy
LD tracks an index of a single contract starting two months from maturity and held until shortly before expiration.
LD Rolling Strategy
LD rolls contracts between the 6th and 10th business day of pre-determined roll months.