JJGiPath Series B Bloomberg Grains Subindex Total Return ETN
JJG Fund Description
JJG tracks an index of grain futures contracts selected according to liquidity and diversity requirements. Contract maturity can range from one to five months.
JJG Factset Analytics Insight
JJG tracks an index of futures on three grains: corn, soybeans, and wheat. The contracts can vary in maturity, from one to five months, at any given time. While the note tracks the same three grains as our segment benchmark, it weights them differently—the benchmark is production-weighted, while JJG is weighted by both production and liquidity. Additionally, the note charges a reasonable fee relative to its peers. As an ETN, JJG does not issue a K-1 form at tax time, but investors will be exposed to the counterparty risk of issuer Barclays. JJG replaced an older ETN with the same ticker. The newer, “series B” note tracks the same index, but charges a lower fee and avoids path dependency issues that made its predecessor more expensive to hold over time. It also includes a call provision. The new version traded under the ticker JJGB until November 16, 2018.
JJG Portfolio Management
JJG Tax Exposures
JJG Fund Structure
JJG Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of JJG. JJG is rated a 5 out of 5.
JJG Sector Breakdown
JJG Tenor Strategy
JJG 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.
JJG Rolling Strategy
JJG rolls contracts over an annually pre-determined 5 day period each month.