JJNiPath Series B Bloomberg Nickel Subindex Total Return ETN
JJN Fund Description
JJN tracks an index of a single nickel futures contract, rolled according to a fixed schedule.
JJN Factset Analytics Insight
JJN tracks an index consisting of a single nickel futures contract at a time, beginning with two months left to maturity and rolling shortly before expiration. Expect to see some deviation from our segment benchmark, which utilizes a front-month-only strategy. The use of futures contracts for exposure means the note may deviate significantly from spot price returns, which can only be had by holding physical nickelno ETPs do so. As an ETN, JJN does not issue a K-1 form at tax time, though investors must accept the counterparty risk of issuer Barclays. JJN 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 BJJN until November 16, 2018.
JJN Portfolio Management
JJN Tax Exposures
JJN Fund Structure
JJN Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of JJN. JJN is rated a 5 out of 5.
JJN Sector Breakdown
JJN Tenor Strategy
JJN 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.
JJN Rolling Strategy
JJN rolls contracts over an annually pre-determined 5 day period each month.