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About Deutsche Bank Aktiengesellschaft
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Inception date
Apr 14, 2008
Structure
Exchange-Traded Note
Dividend treatment
Distributes
Distribution tax treatment
No distributions
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
ISIN
US25154H5413
This ETN was delisted and now trades over-the-counter on the pink sheets. As a result, shareholders should anticipate ultra-wide spreads, minimal trading volumes, and prices well above or below NAVs. ADZ is, like most leveraged and inverse products, designed to provide -1x exposure to its index for a fixed period of timemonthly in this case. Investors holding it beyond the next monthly reset will be subject to the effects of compoundinga dynamic that can cause the note`s performance to drift from its promised -1x exposure. The note`s index tracks a single futures contract on four agricultural commodities: corn, wheat, soybeans and sugar. The index tracks the futures contract on each commodity determined to be least influenced by contango. The index measures the changes in price of the futures contracts, the returns from rolling those contracts over, and the cost of borrowing (collateral) as measured by the 3-month Treasury bill. Although its expense ratio is entirely reasonable compared with other inverse products, trading costs are of greater importance, since ADZ is designed for round-trip intraday trading. To that end, it`s nearly untradeable. Median volume is zero, meaning that most days, not a single share changes hands, and spreads are obscenely wide. Investors face substantial premiums or discounts, too, as the note is closed for creations, preventing arbitrageurs from doing their job.
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Classification
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
ADZCF assets under management is 144.03 K USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
ADZCF expense ratio is 0.75%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
ADZCF is an inverse fund, meaning it's structured to generate returns opposite to the trends of the underlying index or assets.
No, ADZCF doesn't pay dividends to its holders.
ADZCF shares are issued by Deutsche Bank AG
ADZCF follows the DB Liquid Commodity - Optimum Yield Agriculture (ER). ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Apr 14, 2008.
The fund's management style is passive, meaning it's aiming to replicate the performance of the underlying index by holding assets in the same proportions as the index. The goal is to match the index's returns.