BAL

iPath Series B Bloomberg Cotton Subindex Total Return ETN
*Unless otherwise stated, data provided by FactSet.

BAL Fund Description

BAL tracks a single cotton futures contract with one month to five months to maturity, depending on the time of year.

BAL Factset Analytics Insight

BAL tracks an index of cotton futures contracts anywhere from one to five months from maturity. This particular tenor strategy takes into consideration the lifecycle of the cotton plant — holding longer contracts during incubation and shorter contracts during harvest. It also allows the index to select the most liquid contracts available given the lifecycle constraints. This method differentiates the note from its front-month benchmark, so expect BAL to deviate slightly from the benchmark. Structured as an ETN, investors avoids a K1 form at tax time, but carries the counterparty risk of its issuer. Note: BAL replaced an older ETN with the same ticker. The newer, series B note tracks the same index, but avoids path dependency issues. It also includes a call provision. The new version traded under the ticker BALB until November 16, 2018.

PERFORMANCE [as of 05/06/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
BAL 10.97% 2.37% 8.29% 59.64% -2.60% -- --
BAL (NAV) 12.47% 5.93% 12.16% 57.49% -1.37% -- --
Bloomberg Cotton Subindex Total Return 12.52% 6.05% 12.33% 58.20% -0.93% 6.41% -3.06%
S&P GSCI Cotton Index -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

BAL Summary Data

iPath
01/17/18
Exchange-Traded Note
0.45%
$14.39M
$407.55K
0.54%

BAL Portfolio Data

Futures
Extended Term
Annually
0

BAL Index Data

Single Asset
Single Asset
S&P GSCI Cotton Index

BAL Portfolio Management

0.45%
-0.48%
-0.33%
-0.71%

BAL Tax Exposures

20.00% / 39.60%
--
No

BAL Fund Structure

Exchange-Traded Note
No
N/A
Barclays Bank PLC
Low
High
None
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -

BAL Factset Analytics Block Liquidity

As of 05/07/21
5
4
3
2
1

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

BAL Tradability

8,461
$407.55K
5,287
$259.92K
0.54%
$0.26
-0.02%
1.39% / -1.85%
None
100.00%
50,000
0.11
--
--
209
$50.48
5

BAL Sector Breakdown


BAL
Segment Benchmark
100.00%
100.00%

BAL Tenor Strategy

BAL invests solely in second-month futures contracts. This means that the fund will be particularly sensitive to changes in spot prices, but may be priced higher or lower than spot, sometimes dramatically.

BAL Rolling Strategy

BAL rolls contracts over an annually pre-determined 5 day period each month.

BAL Performance Statistics

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--
--
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0.00%