About CREDIT SUISSE AG (Nassau Branch)
This ETN was delisted on July 12,2020, 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. As a levered product, UGLD is not a buy-and-hold ETF, it's a short-term tactical instrument. Like many levered funds, it promises 3x exposure only for one day. Over longer periods, returns can vary significantly from 3 times the performance of the underlying index. UGLD's linked index is an excess return index, consequently, it reflects returns due to price changes on its futures contracts as well as any gain or loss from rolling those futures contracts, but not any income from collateral. As an ETN, any returns earned on UGLDand the original principalare subject to Credit Suisse's ability to pay its obligations as they're due. UGLD's expense ratio is high, but as a short-term product, holding fees are relatively less important than trading costs. UGLD has tended to be eminently tradable, with deep liquidity and small spreads, but compare the latest volume and spread figures to those of competing ETFs.