5. PowerShares DB US Inflation ETN ( INFL) seeks to provide exposure to month-over-month returns of the DBIQ Duration-Adjusted Inflation Index. The fund seeks to provide investors with the ability to gain exposure to US inflation expectations as implied by the difference in yields between TIPS and US Treasury bond indexes before a 0.75% expense ratio. This ETN takes a notional long position in TIPS and a notional short position in US Treasury bonds. If the inflation protected Treasuries outperform normal Treasuries of similar maturity then these ETNs can gain value on the expectation of future inflation. In January, the fund gained 1.5%. As these securities are exchange-traded notes, they are unsecured debt obligations of Deutsche Bank AG, London Branch ( DB) subject to the credit risk of the issuer. Other important risks include no protection of principal, concentrated exposure, and the issuer's right to call the securities.