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PowerShares DB Short Gold ETN
The PowerShares DB Gold Short Gold ETN (NYSE Arca: DGZ) is a short gold ETF, although technically it is a gold ETN or Exchange Traded Note issued by the London branch of Deutsche Bank. This shortg gold etf aims to mimic the inverse or short the investment returns of the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold This is achieved through the investment in gold futures contracts and treasury bills.
Since this short gold etf does not take actual positions in gold bullion its investment results are not identical to the inverse of the price performance of gold bullion or etfs that hold physical gold such as GLD. This is because DGZ utilizes gold futures that have to be rolled over at expiration hence the investment results will have a tracking error to the inverse performance of physical gold that can be material.
The PowerShares DB Gold Double Short ETN (DGZ) vital stats:
Symbol: DGZ Exchange: NYSE Arca Expense Ratio: 0.75% Dividend Yield: NA Price at issuance: $25 Options: No Inception Date: 2/27/2008 Maturity Date: 2/15/38
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