Leveraged gearing reflects a multiple of the leveraged trend of each fund's underlying Precious Metals Index, tracking gold or silver and mining
The selection hightlights the correlation - or the divergence - between Precious Metals Commodity Futures and Basic Materials Gold mining equities
Aiming at returns over one day, the funds, invested in futures contracts, will not provide a geared leveraged return of the underlying index’s cumulative return for periods greater than a day : the funds are “daily trading tools for traders and similarly sophisticated investors to express short-term market views and manage daily trading risks”
ETNs, offered by MicroSectors™ are distinct from ETFs as senior, unsecured, unsubordinated debt securities that provide investors with exposure to the total returns of a chosen index
For a summary of benefits, risk exposure and tax treatment of ETNs and Futures ETFs, check details in Broad Commodities Futures
By controlling for performance and volatility of the funds over short time frames, shifts in market anticipations will be highlighted
Select short time frames - top right tab - from one week on, to magnify market trends and shifts in market anticipations
Momentum signals trends of 5-day average against a 20-day average