JO
iPath Series B Bloomberg Coffee Subindex Total Return ETNJO Fund Description
JO tracks an index that holds a single coffee futures contract with varying maturities.
JO Factset Analytics Insight
JO is just about the only practical choice for getting exposure to coffee prices in an ETP wrapper. The note tracks a single coffee futures contract at a time, purchased two or three months out and held until the month of maturity. The note tracks every other contract from February through July, but switches to every third contract during the fall and winter months. Although this methodology does not perfectly imitate our segment benchmark—which uses front month contracts year-round—JO still serves as a decent proxy for spot coffee prices. JO enjoys strong liquidity, trading in steady volume with manageable spreads, and it can be traded at a reasonable price in blocks. JO charges a reasonable fee. JO 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 BJO until November 16, 2018.
JO Charts And Performance
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1 Month
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3 Months
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YTD
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1 Year
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3 Years
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5 Years
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Max
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1 Month
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3 Months
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YTD
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1 Year
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3 Years
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5 Years
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JO Summary Data
JO Portfolio Data
JO Index Data
JO Portfolio Management
JO Tax Exposures
JO Fund Structure
JO Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of JO. JO is rated a 5 out of 5.
JO Tradability
JO Sector Breakdown
JO
JO Tenor Strategy
JO 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.
JO Rolling Strategy
JO rolls contracts over an annually pre-determined 5 day period each month.
JO Performance Statistics
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