JJEiPath Series B Bloomberg Energy Subindex Total Return ETN
JJE Fund Description
JJE tracks an index of futures contracts, rolled every other month, on five energy commodities: natural gas, Brent and WTI crude oil, unleaded gasoline, and ULS diesel (heating oil).
JJE Factset Analytics Insight
JJE distinguishes itself from front-month competitors by only holding every other contract on the five energy commodities it tracks. The note's index begins tracking most of the contracts two months from maturity, and holds them until shortly before expiration. Brent crude exposure is slightly different: contracts are tracked starting three months from maturity and held until one month before delivery. The result is an index that strikes a balance between spot-price sensitivity and contango/roll costs. The five contracts are weighted by a combination of contract liquidity and global production. JJE replaced an older ETN with the same ticker. It also includes a call provision. The newer, series B note tracks the same index, but avoids path dependency issues. The new version traded under the ticker JJEB until November 16, 2018.
JJE Portfolio Management
JJE Tax Exposures
JJE Fund Structure
JJE Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of JJE. JJE is rated a 5 out of 5.
JJE Sector Breakdown
JJE Tenor Strategy
JJE 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.
JJE Rolling Strategy
JJE rolls contracts over an annually pre-determined 5 day period each month.