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ETNs offer distinct characteristics to investors, such as:

  • Benchmarking
    ETNs track, exactly, the performance of their underlying market benchmark
  • Liquidity
    ETNs are open-ended securities, and therefore are not limited to on-exchange volumes
  • Accessibility
    ETNs are traded and settled on a stock exchange, the same as any equity, and can be purchased and held in ordinary brokerage or custodial accounts
  • Ease of Ownership
    ETNs do not involve any of the difficulties with buying and then managing a futures position (eg. worrying about margin calls, contracts expiring and rolling positions) or in buying and storing physical assets.
  • Transparency
    ETN pricing is based on a transparent formula with the pricing updated daily by the issuer
    ETNs are priced using published settlement prices
  • Flexibility
    Investors can long or short ETNs