What is JJA?

JJA tracks an index of seven agricultural commodity futures contracts that are selected according to liquidity and production.

PERFORMANCE [as of 11/25/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
JJA 0.10% -0.94% 11.60% 9.07% 19.83% -- --
JJA (NAV) -0.13% 6.43% 11.94% 18.93% 20.75% 11.87% --
Bloomberg Agriculture Subindex Total Return -0.09% -0.55% 12.39% 10.02% 20.44% 8.13% -1.44%
S&P GSCI Agriculture -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

JJA Factset Analytics Insight

JJA tracks an index of futures contracts on agricultural commodities. The notes’ targeted contracts include corn, soybeans, sugar, wheat, soybean oil, coffee, and cotton. The index eliminated cocoa futures from its basket in 2005. The methodology weights the contracts by liquidity (2/3) and US dollar-weighted production (1/3). Each commodity contract has a roll schedule that is set by the index provider, Bloomberg, and varies in length from one to five months to maturity. Investors avoid a K-1 at tax time due to the ETN wrapper, but also accept some counterparty risk from issuer Barclays. JJA 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 JJAB until Nov. 16, 2018.

JJA Summary Data

01/17/18
0.45%
$16.27M
S&P GSCI Agriculture
Exchange-Traded Note

Peers

S&P GSCI Agriculture

Fund Flows

-- 5 Days
-- 30 Days
-- 90 Days

JJA Portfolio Data

Futures
Front Month
Annually
--

JJA Index Data

Multi-Factor
Fixed
S&P GSCI Agriculture

JJA Portfolio Management

0.45%
-0.57%
-0.48%
-0.67%

JJA Tax Exposures

20.00% / 39.60%
--
No

JJA Fund Structure

Exchange-Traded Note
Yes
No
Barclays Bank PLC
Low
High
None

Factset Analytics Block Liquidity

As of 11/28/22

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

JJA Tradability

5,472
$137.30K
2,695
$66.83K
0.55%
$0.14
0.07%
27.89% / -0.90%
None
100.00%
50,000
0.05
--
--
6
$24.78
5

JJA Performance Statistics

--
--
--
--
0.00%

JJA Tenor Strategy

JJA 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.

JJA Rolling Strategy

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