This Nickel Sub-Index ETN, Down 5.7%, Is The Worst Performing ETP Of Jan. 11

January 11, 2017 5:25pm NYSE:JJN

liquid metal

The iPath Bloomberg Nickel Sub-Index Total Return ETN (JJN) underperformed all other non-leveraged, non-inverse exchange traded products in the U.S. today, producing a -5.69% one-day return and trailing the wider markets by a total of 5.97 percentage points.


Behind The Gains

JJN closed today at $12.10 per share, down $0.73 (-5.69%). Putting this move in context, the S&P 500 index — largely considered the most popular and useful benchmark for equity performance — closed up $0.64 (+0.28%) on the day.

JJN’s trading volume today was a total of 33,793 shares, which was an increase of 19% versus its average daily trading volume of 28,453. Rising trading volume generally an indicator of increased demand for a particular security, and is typically associated with a specific news event or trend that draws investors into or out of specific asset classes, or sectors or subsectors within those classes.

Including any dividends as well as today’s losses, JJN is now flat year-to-date, versus a 1.6% gain in the S&P 500 during the same timeframe.

A Look Under The Hood

The iPath Bloomberg Nickel Sub-Index Total Return ETN is a Commodity-focused product issued by iPath. Its expense ratio of 0.75% makes it the #54 cheapest ETF among 121 total funds in the Commodity ETFs category.

JJN currently boasts $10.42M in assets under management (AUM), placing it #74 of 121 ETFs in its category, and #1460 of 1917 total ETFs in the U.S. exchange traded universe.

The investment objective of the iPath Dow Jones-UBS Nickel Subindex Total Return ETN to provide investors with exposure to the Dow Jones-UBS Nickel Subindex, which “reflects the returns that are potentially available through an unleveraged investment in the futures contracts on nickel,” according to fund literature.

JJN SMART Grade

JJN currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #80 of 123 funds in the Commodity ETFs category.

For more information about this ETF, including full ratings, news, data, and more, please visit JJN’s ticker page.

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