Barclays launched the first-ever iPath exchange-traded notes (ETNs) in June 2006, and it recently announced that they now have more than $3 billion in assets. Of their eight ETNs, the iPath Dow Jones-AIG Commodity Index Total Return ETN (DJP) holds 70% of those assets, says Heather Bell for Index Universe. Currently, DJP is up 9.4% year-to-date. DJP tracks one of the most widely watched commodity indexes at a time when commodities are extremely hot. It was one of the first ETNs launched and has had the most time to gather assets.
Another 16% of the assets are in the iPath MSCI India Index ETN (INP). One of the reasons investors might be so interested in investing in INP is because it provides one of few methods to invest in India’s stock market. Investors have been excited about India because of the tremendous growth within its economy. Currently, INP is up 37.5%.
The third-largest of the ETNs is the iPath S&P GSCI Total Return Index ETN (GSP). GSP is up 16.7% year-to-date. The rest of the assets are scattered throughout the remaining five ETNs, the smallest of which is the iPath GBP/USD Exchange Rate ETN (GBB). Having launched in May, GBB is up 2.4% for the last three months.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.