VelocityShares 3x Inverse Gold ETN Linked to the S&P GSCI Gold Index ER
DGLD
NASDAQ Global Market- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- IPO Date
- Oct 14, 2011
- Similar Companies
- Business
- VelocityShares 3x Inverse Gold ETN Linked to the S&P GSCI Gold Index ER (DGLD) is an exchange-traded note issued by Credit Suisse AG, Nassau Branch, that seeks to provide three times the inverse daily performance, net of fees, of the S&P GSCI Gold Index Excess Return. The underlying index tracks gold futures contracts, with the ETN achieving exposure through short positions in gold futures; it was launched on October 14, 2011, originally listed on NASDAQ, and is scheduled to mature on October 14, 2031. The product targets investors seeking leveraged inverse exposure to gold price movements in global commodity markets, with assets under management recently around $20.88 million and a net expense ratio of 1.35%. Domiciled in Switzerland, it operates without physical gold holdings, focusing instead on derivatives-based replication of the benchmark's excess returns. The ETN's core offering centers on its leveraged inverse tracking mechanism, delivering approximately -3x the daily total return of the S&P GSCI Gold Index ER, which reflects gold futures roll yields and price changes; it does not distribute dividends and carries risks associated with leverage, compounding, and commodity volatility. Trading under the ticker DGLD, it provides short-term tactical tools for bearish gold positions, with no direct ownership of physical gold or other assets beyond the issuer's futures positions. Significant changes include its delisting from NASDAQ and other exchanges effective July 12, 2020, as part of Credit Suisse's portfolio rationalization, after which it traded over-the-counter with suspended new issuances. In October 2023, Credit Suisse accelerated the ETN's redemption at its option, setting a final acceleration date of November 1, 2023, for DGLD among other VelocityShares products, effectively winding down the instrument ahead of its 2031 maturity. These actions followed Credit Suisse's broader restructuring amid its 2023 acquisition by UBS, shifting focus away from certain leveraged ETN offerings.