The Coffee ETN Just Got Creamed, Down 3.3% On The Day

The iPath Bloomberg Coffee Sub-Index Total Return ETN (JO) underperformed all other non-leveraged, non-inverse exchange traded products in the U.S. today on a percentage basis, producing a -3.3% one-day return and trailing the wider markets by a total of 3.37 percentage points.

Behind The Losses

JO closed today at $20.81 per share, down $0.71 (-3.30%). Putting this move in context, the S&P 500 index — largely considered the most popular and useful benchmark for equity performance — closed up $0.15 (+0.07%) on the day.

JO’s trading volume today was a total of 303,056 shares, which was an increase of 73% versus its average daily trading volume of 175,089. Rising trading volume generally an indicator of increased demand for a particular security, and is typically associated with a specific news event or trend that draws investors into or out of specific asset classes, or sectors or subsectors within those classes.

Including any dividends as well as today’s losses, JO has still gained a total of 6.39% year-to-date, versus a 1.9% gain in the S&P 500 during the same timeframe.

A Look Under The Hood

iPath Bloomberg Coffee Sub-Index Total Return ETN is a Commodity-focused product issued by iPath. Its expense ratio of 0.75% makes it the #53 cheapest ETF among 119 total funds in the Commodity ETFs category.

JO currently boasts $149.52M in assets under management (AUM), placing it #28 of 119 ETFs in its category, and #759 of 1922 total ETFs in the U.S. exchange traded universe.

The investment objective of the iPath Dow Jones-UBS Coffee Subindex Total Return ETN is to provide investors with exposure to the Dow Jones-UBS Coffee Subindex Total Return. With coffee futures getting slammed today, the JO naturally fell as well.

JO SMART Grade

JO currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #78 of 120 funds in the Commodity ETFs category.

For more information about this ETF, including full ratings, news, data, and more, please visit JO’s ticker page.

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