Powershares DB Gold Short ETN 2x
Ticker Symbol: DZZ
Security Name: DB Gold Short ETN 2x
ETF Provider: PowerShares
Asset Category: Gold
Description: PowerShares DB Gold Short ETN, a gold Exchange Traded Note, tracks the performance of the Deutsche Bank Liquid Commodity index - Optimum Yield Gold Excess Return. The underlying index reflects changes in the value of particular gold futures contracts, but consists of a single unfunded gold futures contract.
DZZ is an inverse ETN as it tracks the underlying index in the opposite direction. As the index falls in price, this inverse gold Exchange Traded Note rises. Also, since this ETN is leveraged, investors will receive 2x the market performance change.