This ETN was delisted after the market close on April 12, 2018, 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. JJP tracks an index of futures contracts on both gold and silver. Contracts are tracked beginning at two to four months to maturity, according to a fixed schedule, and held until shortly before expiration. JJP weights the two metals using a combination of liquidity and production data, which means it overweights silver compared to our production-weighted, gold-heavy benchmark index. Like our benchmark, JJP has no exposure to platinum or palladium. Because it uses futures, JJP will not perfectly track the spot price of gold and silver. Unlike most other commodities, spot-tracking ETPs are available for both gold and silverand they`re generally cheaper to hold. JJP is unpopular, so it`s difficult to trade (raising all-in costs) and subject to increased closure risk (ETNs rarely close outright, but may be de-listed). As an ETN, JJP is subject to the counterparty risk of its issuer, Barclays. However, JJP offers two advantages over other products: it issues a 1099 at tax time (not a complex K-1), and it`s taxed at the usual capital gains rate (not the higher collectibles rate).