AGATF

DB Agriculture Double Short ETN
*Unless otherwise stated, data provided by FactSet.

AGATF Fund Description

The DB Agriculture Double Short ETN provides monthly -2x exposure to an index that tracks the performance of futures contracts on corn, soybeans, sugar and wheat.

AGATF Factset Analytics Insight

AGA is, like most leveraged and inverse products, designed to provide -2x exposure to its index for a set period of time—monthly in this case. 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 -2x exposure. The note’s index tracks a single futures contract on 4 agricultural commodities: corn, wheat, soybeans and sugar. The index tracks the futures contract on each commodity determined to be least influenced by contango. Baked into the index’s performance are the changes in price of the futures contracts, 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 AGA is designed for round-trip intraday trading. To that end, it’s nearly untradeable. The fund barely trades, and spreads are obscenely wide. What’s more, AGA's market price is untethered to fair value because the note is closed for creations, which can lead to premiums and discounts.

AGATF Charts And Performance

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
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Select ETFs to compare their performance:
PERFORMANCE [as of 05/20/20] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
AGATF 44.11% 19.69% 31.04% 15.92% 3.00% 0.49% -5.02%
ticker (NAV) 0.36% 31.25% 35.73% 23.91% 24.83% 11.70% 0.50%
Deutsche Bank Liquid Commodity Index - Optimum Yield Agriculture -0.21% -13.65% -14.07% -12.99% -12.35% -8.45% 0.50%
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

AGATF Summary Data

Deutsche Bank
04/14/08
Exchange-Traded Note
0.75%
$262.45K
39.22%

AGATF Portfolio Data

0.00%
N/A

AGATF Index Data

Fixed
Fixed
N/A

AGATF Fund Structure

No
N/A
N/A / N/A
Deutsche Bank AG
Medium
High
-2
Daily

AGATF Tax Exposures

20.00% / 39.60%
--
No
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -

AGATF Factset Analytics Block Liquidity

As of 05/22/20
5
4
3
2
1

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

AGATF Tradability

1
0
1
0
39.22%
$11.00
-44.14%
-43.85% / -45.24%
Potential
0.00%
50,000
0.00
0.00%
--
--
$52.49
5