This ETN was delisted on July 12, 2020, and now trades over-the-counter on the pink sheets. As a result, shareholders should anticipate ultra-wide spreads, minimal trading volumes, and prices well above or below NAVs. Like most geared inverse products, DGLD is designed as a tactical trading tool, not as a buy-and-hold investment. The note promises to provide -3x exposure to its referenced indexthe S&P GSCI Gold Excess Return Indexfor a one-day holding period. The daily reset function means investors holding DGLD for periods of longer than one trading day will be exposed to the effects of compounding, and could see returns vary greatly from the headline -3x exposure. Since DGLD tracks an excess return version of the S&P GSCI Gold Index, returns will reflect both the changes in the price of gold and returns from rolling futures contracts, but not any income from collateral. Although its fee is extremely high, trading costs are of greater importance, since the fund is designed for intraday round-trip trades. The market for this ETN is strong, with decent daily volume and small spreads, so those trading costs should not be too bad.