NEXT NOTES Dubai Crude Oil Futures Bear ETN

NEXT NOTES Dubai Crude Oil Futures Bear ETN (2039) is an ETN listed on the Japanese market. Rather than individual companies, these stocks are positioned as listed products that reflect the price movements of an index, theme, asset class, or real estate/infrastructure asset. When reading the product overview, it will be easier to understand the characteristics if you check the linked items, whether there is currency hedging, trust fees, liquidity, distribution policy, and the discrepancy between the base price and the market price. Prices and distributions may be affected by interest rates, exchange rates, price fluctuations of component assets, changes in management policies, and the management structure of the sponsor and management company. When comparing products of the same type, the main materials to check are the total net assets, trading value, distribution history, expense level, linkage accuracy, and tax treatment. For stock-type products, the selected stocks and sector allocation, for bond-type products, the duration and credit risk, and for real estate-type products, the property use and occupancy rate are clues to understanding the product. When reading an overview on a financial website, you can get a more concrete understanding of the product's characteristics by checking the explanation as well as the management company's materials, the composition of the target index, distribution history, and returns after deducting expenses.