DB Gold Double Long ETN due February 15, 2038
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DB Gold Double Long ETN due February 15, 2038 (DGP) is an Exchange-Traded Note designed to provide investors with leveraged exposure to gold. It is a debt instrument issued by Deutsche Bank AG and is structured to deliver returns that are linked to the performance of an underlying gold futures index.
This note specifically tracks the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return. The index itself is designed to reflect the performance of certain gold futures contracts. The ETN aims to deliver twice the daily return of its benchmark index, which seeks to capture price changes in the gold futures market. This means the note is a leveraged product, amplifying both daily gains and losses relative to the movement of its underlying index. The note itself is an unsecured debt obligation, not a direct investment in physical gold or a fund of physical assets.
Investors should note that the leveraged nature of the ETN makes it more volatile than products tracking gold's spot price directly. The returns over periods longer than a single day will differ from twice the index's return for that period due to the effects of daily compounding. The note has a stated maturity date in February 2038, at which point it will pay a cash amount based on the final index value.