This article needs additional citations for verification. Similar to other debt securities, ETNs have a maturity date and are backed only by the 외환 of the issuer.
ETNs are designed to provide investors access to the returns of various market benchmarks. The returns of ETNs are usually linked to the performance of a market benchmark or strategy, less investor fees. When an investor buys an ETN, the underwriting bank promises to pay the amount reflected in the index, minus fees upon maturity. Often linked to the performance of a market benchmark, ETNs are not equities, equity-based securities, index funds or futures. Although ETNs are usually traded on an exchange and can be sold short, ETNs don’t actually own any underlying assets of the indices or benchmarks they are designed to track.