Big uh-oh for new Claymore Oil ETFsAaron Pressman
Greg Newton over at the NakedShorts blog has highlighted a huge defect in the new Claymore Macroshares oil ETFs today. Recall, this is the paired ETF, with one tracking the price of an oil futures contract (under the symbol UCR) and the other doing the opposite (under the symbol DCR). The idea was to cut the costs of actually having to manage a portfolio of futures contracts and instead just have assets switched back and forth through a derivatives contract between the two ETFs.
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