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  iPath Pure Beta Seasonal Natural Gas ETN (DCNG) - NYSEARCA

DCNG vs. ETF Alternatives
DCNG Description
The iPath® Seasonal Natural Gas ETN is linked to the Barclays Capital Natural Gas Seasonal TR Index (the "Index"). The Index reflects the returns that are potentially available by maintaining an unleveraged investment in a rolling position in Henry Hub Natural Gas futures contracts plus the rate of interest that could be earned on cash collateral invested in specified Treasury Bills. The Index is comprised of a single exchange traded futures contract, except during the roll period when the Index may be comprised of two futures contracts. However, unlike many commodity indices, which roll their exposure to the corresponding futures contract on a monthly basis in accordance with a pre-determined roll schedule, the Index is composed of a single contract that expires in December and rolls annually. In October of each year the Index closes out its position in the current year's December contract and rolls into a Natural Gas futures contract expiring in December of the next calendar year.
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