Trade VelocityShares 3x Long Crude Oil ETN - UWT CFD

As a levered product, UWT is not a buy-and-hold ETF; it’s a short-term tactical instrument. Like many levered funds, it delivers its 3x exposure for only 1 day. Over longer periods, returns can vary significantly from 3x the return of its underlying index. As an ETN, UWT is subject to counterparty risk; original investor capital plus any return is subject to Citigroup’s ability to pay that obligation. UWT’s expense ratio is high but, as a short-term product, annual fees are relatively less important than trading costs. Leveraged ETPs can experience rapid swings in investor interest, so check the latest trading spreads and volume. Investors and traders can also consider competing fund UCO—which offers 2x rather than 3x exposure.Note: UWT replaced UWTI, a nearly identical product under the VelocityShares brand that was delisted the same day UWT launched. Notable differences are a higher fee and a new credit counterparty (Citigroup instead of Credit Suisse).