SZO

DB Crude Oil Short ETN
*Unless otherwise stated, data provided by FactSet.

SZO Fund Description

The DB Crude Oil Short ETN provides monthly inverse exposure to an index that tracks the performance of a futures contract on light sweet crude oil determined to be least impacted by contango.

SZO Factset Analytics Insight

SZO is, like most leveraged and inverse products, designed to provide -1x exposure to its index only with its monthly reset period. Investors holding it beyond the next monthly reset date will be subject to the effects of compounding—a dynamic that can cause the note’s performance to drift from its promised -1x exposure. The note’s index tracks a single futures contract on light sweet crude oil determined to be least influenced by contango. The index measures the changes in price of the oil futures contract, the returns from rolling those contracts over, and the cost of borrowing (collateral) as measured by the 3-month Treasury bill. Although its 75 bp fee is entirely reasonable compared with other inverse products, trading costs are of greater importance, since SZO is designed for round-trip intraday trading. To that end, the market for SZO is both shallow and wide, with very little trading volume, at too-wide spreads. Investors interested in inverse oil ETPs will find better liquidity in DNO or DTO.

SZO CHARTS AND PERFORMANCE

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
COMPARE
RESET
Select ETFs to compare their performance:
PERFORMANCE [as of 07/12/18] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
SZO -22.12% -34.56% -41.67% -52.20% -11.21% 3.67% 6.67%
SZO (NAV) -8.23% -7.64% -18.02% -37.89% -2.23% 9.80% 9.89%
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

SZO Summary Data

06/16/08
Exchange-Traded Note
0.75%
$1.68M
12.86%

SZO Portfolio Data

0.00%
N/A

SZO Index Data

Single Asset
Single Asset
N/A

SZO Fund Structure

No
N/A
N/A / N/A
Deutsche Bank AG
Low
High
-1
Daily

SZO Tax Exposures

20.00% / 39.60%
--
No
Bats Book Viewer
TOP OF BOOK
LAST 10 TRADES
Bats BZX Real-time Quote -
Daily Spread
Premium/Discount
Volume

SZO Factset Analytics Block Liquidity

As of 07/18/18
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of SZO. SZO is rated a 5 out of 5.

SZO Tradability

19
$865.89
0
0
12.86%
$8.21
1.25%
20.13% / -29.50%
Potential
0.00%
200,000
0
0.05%
--
--
$61.52
5