UBS' New Commodity ETNs Could Be Overkill

Last week, UBS listed eight commodity-related ETNs under the brand name E-TRACS.

I am hard-pressed to think another gold or silver exchange-traded product is needed on the U.S. market. "Me-too" products, whether they are for equities, currencies or commodities, will struggle to attract assets. The other six products offer the chance at some differentiation.

The new ETNs are:

UBS Bloomberg CMCI Gold(UBZ Quote)

UBS Bloomberg CMCI Silver(USV Quote)

UBS Bloomberg CMCI Index(UCI Quote)

UBS Bloomberg CMCI Industrial Metal(UBM Quote)

UBS Bloomberg CMCI Energy(UBN Quote)

UBS Bloomberg CMCI Livestock(UBC Quote)

UBS Bloomberg CMCI Food(FUD Quote)

UBS Bloomberg CMCI Agriculture(UAG Quote)

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