DB Gold Double Long ETN
DGP
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- DB Gold Double Long ETN (DGP) is an exchange-traded note issued by Deutsche Bank AG London Branch that provides investors with twice the daily performance, net of fees, of the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return; the underlying index tracks the returns from a single gold futures contract selected to minimize the negative effects of contango through an optimized rolling strategy involving gold futures and implied interest from short-term Treasuries. The ETN offers leveraged exposure to gold commodity markets without physical ownership of gold or direct futures trading, targeting sophisticated investors seeking short-term bullish positions on gold prices; it does not pay dividends and carries counterparty credit risk from the issuer as an unsecured debt obligation maturing on February 15, 2038. Launched on February 27, 2008, and formerly known as PowerShares DB Gold Double Long ETN, DGP is listed on NYSE Arca with an expense ratio of 0.75% and recent assets under management around $169-179 million USD. The product operates globally through U.S. exchanges, domiciled in Germany with issuer headquarters in Frankfurt, Germany, serving retail, institutional, and trading clients focused on leveraged commodities. No major recent partnerships, acquisitions, funding rounds, or product launches specific to DGP have been announced in the last 1-2 years; the ETN continues standard daily leverage reset operations amid strong 2025 performance driven by gold price rallies, with year-to-date returns exceeding 55% as of mid-2025.