TAPRBarclays Inverse U.S. Treasury Composite ETN
TAPR Fund Description
TAPR tracks an index of equally weighted short positions in front-month futures contracts on 2-year, 5-year, 10-year, long-bond and ultra-long US Treasurys.
TAPR Factset Analytics Insight
TAPR’s index uses an equal weighting scheme for short positions in a variety of US Treasury futures contracts: 2-year, 5-year, 10-year, long-bond, and ultra-long. The note will appreciate in value if prices of Treasurys fall (and rates rise) across the yield curve, also known as a parallel shift. The note can be used as a broad hedge against rising rates, an anticipated effect of the balance sheet reduction (“tapering”) begun by the Federal Reserve in 2017. However, a parallel shift rarely happens in real life, making the notes unsuitable for precise duration hedging. As an ETN, TAPR does not hold Treasury futures and collateral, but is only backed by the credit of Barclays Bank PLC. Unfortunately, TAPR has gathered few assets since launching in 2014, and can be quite difficult to trade at times.
TAPR CHARTS AND PERFORMANCE
TAPR Portfolio Data
TAPR Index Data
TAPR Fund Structure
TAPR Tax Exposures
TAPR Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of TAPR. TAPR is rated a 5 out of 5.