DB Agriculture Double Short ETN
AGA
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 875 Third Avenue New York NY United States of America 10022
- IPO Date
- Jun 18, 2004
- Website
- db.com
- Similar Companies
- Business
- DB Agriculture Double Short ETN (AGA) is an exchange-traded note issued by Deutsche Bank AG (London) that provides investors with twice the inverse (-2x) of the monthly performance of the Deutsche Bank Liquid Commodity Index – Optimum Yield Agriculture, plus the returns of the DB 3-Month T-Bill Index as collateral; the underlying index tracks futures contracts on key agricultural commodities including corn, soybeans, wheat, and sugar. Launched on April 14, 2008, with a maturity date of April 1, 2038, the ETN is listed on NYSE Arca in the United States and categorized as an uncollateralized senior unsecured debt obligation in the Trading--Inverse Commodities segment, targeting investors seeking leveraged short exposure to broad agriculture commodity futures markets globally. The ETN features a net expense ratio of 0.75% and minimal assets under management, reflecting its niche focus and limited liquidity. Deutsche Bank AG, headquartered in Frankfurt, Germany, serves as the parent issuer through its London branch, offering a broad range of exchange-traded notes (ETNs) linked to commodity indices as part of its investment banking and capital markets operations. The issuer maintains global operations across major financial centers, providing structured products to institutional and retail investors in commodities, equities, and fixed income. In recent developments, the ETN trades with low volume and has been flagged as potentially delisted on certain exchanges, contributing to illiquidity and price discrepancies amid Deutsche Bank's ongoing management of legacy commodity ETNs; no new issuances have occurred following a 2019 suspension of similar agriculture-linked products, with secondary market trading showing elevated volatility (e.g., 50-day volatility around 64%). Deutsche Bank continues to prioritize capital returns and solvency improvements, reporting a CET1 ratio of 13.8% and €2.1 billion in shareholder distributions for 2025, while focusing on revenue growth without specific announcements on ETN expansions or redemptions for AGA. The product remains available for repurchase by existing holders but carries issuer credit risk inherent to unsecured debt instruments.