Deutsche Bank launched four new exchange traded notes (ETNs) with a twist, coming out ahead of rivals such as ProShares.

The new broad-based ETNs focus on agriculture and commodities, but come in long, double-long, short and double-short varieties, rounding out a complete set for a commodities index, reports Murray Coleman for Index Universe.

The new notes are tied to the Deutsche Bank Liquid Commodity Index and the Deutsche Bank Liquid Commodity Index-Optimum Yield.

• DB Commodity Double-Short (DEE)
• DB Commodity Double-Long (DYY)
• DB Commodity Short (DDP)
• DB Commodity Long (DPU)

The securities will be issued in $25 denominations. As their name implies, these new funds give investors long and short exposure to the agriculture and commodities sector. All four notes are senior unsecured obligations of Deutsche Bank.

These notes join Deutsche Bank’s launch of ETNs allowing investors to go long or short on gold and agriculture.

The newest additions to the ETN family add to the growing list of launches for 2008.

Tags: Agriculture, Commodity ETFs, ETNs, Sector ETFs