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UBRT and DBRT try to reflect the daily performance of 3x leveraged long and 3x leveraged inverse, respectively, of the S&P GSCI Brent Crude ER. Potential traders should note that the two ETNs rebalance on a daily basis and “do not attempt to, and should not be expected to, provide returns that reflect 3-to-1 positive or inverse leverage on the return of the Index for periods longer than a single day,” according to Credit Suisse.

ETNs are debt securities issued by financial institutions that promise to pay the return of an index, minus fees and taxes. Therefore, investors are exposed to the credit risk or the possibility the underwriting bank goes bankrupt. The note can be vulnerable if the issuer gets into financial trouble, otherwise known as a default. With an ETN, an investor can lose some or all of their investment if the ETN issuer goes under.

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