The ETP had major equivalent
positions in the iShares Russell 1000
Value ETF (IWD), Vanguard
Value ETF (VTV), iShares Core S&P Total U.S. Stock Market ETF (ITOT), SPDR ® S&P ® 500
Value ETF (SPYV), PowerShares BuyBack Achievers Portfolio (PKW), and Guggenheim S&P 500 ®
Pure Value ETF (RPV).
DDs differ from
pure straddle
positions in that gains in the
value of the underlying security above the range of the straddle payoff are generally capped, and losses in the
value of the underlying security beyond that range lead to losses for the DD investor, including perhaps a total loss of principal.