GAZ

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

GAZ Fund Description

GAZ tracks second-month natural gas futures contracts.

GAZ Factset Analytics Insight

GAZ offers every-other-month natural gas futures exposure in an ETN wrapper. The contract included is the Henry Hub Natural Gas traded on NYMEX. The note’s index follows a pre-determined roll schedule, which rolls the expiring contract into a contract two months out, then holds the contract for two months. This strategy reduces contango effects and roll costs, while keeping the note relatively sensitive to spot natural gas prices. The ETN wrapper means it's backed by Barclay's credit, not actual futures as in a commodity pool. Investors will get a 1099 at tax time, not a K-1. GAZ replaced an older ETN with the same ticker. The newer, series B note tracks the same index and avoids path dependency issues. It also includes a call provision. The new version traded under the ticker GAZB until November 16, 2018.

PERFORMANCE [as of 09/20/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
GAZ 30.10% 52.86% 84.31% 47.49% -10.85% -- --
GAZ (NAV) 27.66% 52.59% 81.71% 41.36% -12.73% 114.07% --
Bloomberg Natural Gas Subindex 27.71% 52.77% 82.30% 42.00% -12.33% -14.34% -20.95%
S&P GSCI Natural Gas Index 28.84% 54.08% 88.54% 47.51% -11.28% -13.38% -19.27%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

GAZ Summary Data

Barclays
iPath
03/08/17
Exchange-Traded Note
0.45%
$6.87M
$111.96K
0.31%
UNG, UNL

GAZ Portfolio Data

Futures
Front Month
Annually
--

GAZ Index Data

Single Asset
Single Asset
S&P GSCI Natural Gas Index

GAZ Portfolio Management

0.45%
-0.35%
-0.24%
-0.68%

GAZ Tax Exposures

20.00% / 39.60%
--
No

GAZ Fund Structure

Exchange-Traded Note
No
N/A
Barclays Bank PLC
Low
High
Daily

GAZ Factset Analytics Block Liquidity

As of 09/21/21
5
4
3
2
1

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

GAZ Tradability

4,638
$111.96K
1,770
$38.32K
0.31%
$0.07
-0.01%
3.08% / -1.98%
None
100.00%
50,000
0.04
0.00%
--
56
$26.69
5

GAZ Sector Breakdown


GAZ
Segment Benchmark
100.00%
100.00%

GAZ Tenor Strategy

GAZB invests solely in second-month futures contracts. This means that the fund will be slightly less sensitive to changes in spot prices compared to front-month futures products.

GAZ Rolling Strategy

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

GAZ Performance Statistics

1.00
0.98
--
--
0.00%