DTUL

iPath US Treasury 2-year Bull ETN
*Unless otherwise stated, data provided by FactSet.

DTUL Fund Description

DTUL tracks the Barclays 2Y US Treasury Futures Targeted Exposure Index. The index increases when yield decreases and the note gains 10 cents for each 1 point gain in the index.

DTUL Factset Analytics Insight

DTUL offers atypical exposure to 2-year US Treasurys in an ETN that trades big for its small size. The “Bull” in the note’s name indicates direction—that it rises when yields fall, just as a bond would. DTUL differs from most leveraged products in that it does not set exposure based on a set multiple like 2x or 3x. Instead it aims for a fixed dollar exposure to its index, so it increases a dime for each one point increase in the index. The index itself (inversely) moves a point for each bp of change in yield with whole idea being fixed dollar exposure relative to changes in yield. And there’s the rub: A 10-cent increase on a $50 handle is a 20 bp move, while the same increase if the note stands at $100 produces a 10 bp move. This adds up to “variable” exposure compared with the more typical fixed-multiple daily-reset geared products as the note offers fixed exposure to Treasurys in dollars. The note has tiny AUM but trades well with reasonable spreads, indicating than most participants take a position for a day or two. Even with DTUL’s role as a tactical tool in mind, keep tabs on the note’s status as a viable entity as we see high risk that it could delist or be called away.

DTUL 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 08/19/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
DTUL 5.00% 9.19% 20.67% 17.02% -0.78% 2.15% --
DTUL (NAV) 3.40% 8.56% 12.07% 17.75% -0.19% 1.95% --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

DTUL Summary Data

iPath
08/09/10
Exchange-Traded Note
0.75%
$5.62M
0.78%

DTUL Portfolio Data

0.00%
N/A

DTUL Index Data

Single Asset
Single Asset
N/A

DTUL Fund Structure

No
N/A
N/A / N/A
Barclays Bank PLC
Low
High
Variable
Monthly

DTUL Tax Exposures

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

DTUL Factset Analytics Block Liquidity

As of 08/20/19
5
4
3
2
1

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

DTUL Tradability

47
$3.20K
0
0
0.78%
$0.50
-0.29%
5.59% / -10.04%
None
0.00%
0
0
0.00%
--
--
$65.92
N/A