iPath Bloomberg Copper Subindex Total Return ETN(OTC:JJCTF)

This ETN was delisted on April 12, 2018, and now trades over-the-counter on the pink sheets. As a result, shareholders should anticipate ultra-wide spreads, minimal trading volumes, and prices well above or below NAVs. The note has been replaced by JJCB, which provides identical exposure. JJC tracks an index consisting of a single copper futures contract at a time. Following a fixed schedule, the index rolls into contracts two months from maturity in February, April, and June, and three months from maturity in August and November. The index continues tracking each contract until shortly before expiration. Although not a great proxy for spot copper, the note does a decent job of tracking the copper futures market. Until a product comes to market that holds physical copper, JJC is a solid substitute. The note trades well and comes at a low price relative to its competitors, making it a good choice for investors wanting to add copper exposure to their portfolio. As an ETN, JJC does not issue a K-1 at tax time, but investors must accept a small amount of counterparty risk from issuer Barclays.