DTYL

iPath US Treasury 10-year Bull ETN
*Unless otherwise stated, data provided by FactSet.

DTYL Fund Description

DTYL tracks the Barclays 10Y U.S. Treasury Futures Targeted Exposure Index. The index gains a point for each 1 bp drop in yield and the note gains 10 cents for each 1 point gain in the index.

DTYL Factset Analytics Insight

DTYL offers atypical exposure to 10 year US Treasurys in a thinly traded ETN. The note has exposure to bonds with 6-1/2 to 10 years remaining maturity. Regarding direction, the note rises when yields fall, just as a bond would. But regarding the magnitude of exposure, DTYL differs from most leveraged products in that it does not set exposure based on a fixed multiple like 2x or 3x. Instead it aims for a fixed dollar exposure to its index, so it increases a dime for each 1 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. This also means “variable” exposure compared with the more typical fixed-multiple daily-reset geared products as the note offers fixed exposure to Treasurys in dollars. For example, 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. While some geared Treasury products have massive interest, DTYL isn’t one of them. We have real doubts about the note’s viability. Worse, the note’s liquidity has gone from bad to worse—it doesn’t trade most days.

DTYL Charts And Performance

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PERFORMANCE [as of 05/28/20] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
DTYL -0.10% 5.35% 15.61% 20.31% 8.40% 5.14% --
ticker (NAV) -0.16% 5.29% 15.22% 19.88% 7.50% 5.11% --
Bloomberg Barclays Intermediate U.S. Treasury Index 0.06% 2.37% 5.56% 8.28% 3.99% 2.87% 2.68%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

DTYL Summary Data

iPath
08/09/10
Exchange-Traded Note
0.75%
$6.23M
0.15%

DTYL Portfolio Data

0.00%
N/A

DTYL Index Data

Single Asset
Single Asset
Bloomberg Barclays Intermediate U.S. Treasury Index

DTYL Fund Structure

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

DTYL Tax Exposures

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

DTYL Factset Analytics Block Liquidity

As of 05/29/20
5
4
3
2
1

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

DTYL Tradability

72
$5.79K
2
0
0.15%
$0.15
-0.01%
0.57% / -2.34%
None
0.00%
0
0
0.00%
--
0
$97.45
N/A