VelocityShares 3x Inverse Crude Oil ETNs linked to the S&P GSCI Crude Oil Index ER New
DWT
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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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 - Leveraged
- Address
- United States of America
- IPO Date
- Dec 8, 2016
- Similar Companies
- Business
- VelocityShares 3x Inverse Crude Oil ETNs linked to the S&P GSCI Crude Oil Index ER New (DWT) is an exchange-traded note (ETN) that seeks to provide investors with three times the inverse daily performance, net of fees and expenses, of the S&P GSCI Crude Oil Index Excess Return (ER), which tracks futures contracts on NYMEX light sweet crude oil. Issued by Citigroup Global Markets Holdings Inc. and guaranteed by Citigroup Inc., the ETN offers leveraged exposure to declines in crude oil prices through a single holding structure that resets daily, subjecting it to compounding effects and volatility decay, with a scheduled maturity date of December 15, 2031. It targets sophisticated investors seeking short-term trading vehicles in the commodities sector, particularly those betting against crude oil price movements, and trades on U.S. exchanges with high volatility metrics, including a beta of -3.91. The ETN's core product is a senior unsecured debt obligation designed for daily leveraged inverse replication of the underlying index; it pays no interest, guarantees no principal at maturity or redemption, and carries risks of total loss due to leverage, acceleration events, or issuer credit risk. Unlike ETFs, DWT holds no physical assets or futures contracts directly but delivers cash payments based on index performance, making it suitable only for short-term horizons given its decay characteristics over longer periods. Geographic operations focus on U.S. markets, with global exposure via the index's NYMEX crude oil futures. Launched in December 2016 under the VelocityShares brand—previously associated with Janus Capital Group, later Henderson—DWT replaced earlier Credit Suisse-issued versions (DWTI) that were delisted, marking a key issuer transition to Citigroup amid ongoing ETN portfolio adjustments. No major funding rounds, acquisitions, or new product launches have been reported for DWT in the last 1-2 years; however, the ETN remains active amid volatile energy markets, with notable price swings such as a 319% YTD return in legacy data periods driven by oil price fluctuations. Headquartered through its issuer in New York, USA, it operates without subsidiaries under the VelocityShares marquee now managed post-brand shifts.