![]() ETNs may have call features that allow the issuer to call the ETN. ETNs containing components traded in foreign currencies are subject to foreign exchange risk. Leveraged and inverse ETNs are subject to substantial volatility risk and other unique risks that should be understood before investing. ETNs may be subject to specific sector or industry risks. ![]() The market value of an ETN may be impacted if the issuer's credit rating is downgraded. The repayment of the principal, any interest, and the payment of any returns at maturity or upon redemption depend on the issuer's ability to pay. ETNs are not secured debt and most do not provide principal protection. Exchange-Traded Notes (ETNs)ETNs are not funds and are not registered investment companies.
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