iPath Pure Beta Industrial Metals ETN (HEVY)

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Investment Objective

The investment seeks to replicate, net of expenses, the returns of the Barclays Capital Commodity Index Industrial Metals Pure Beta TR. The index is comprised of a basket of exchange traded futures contracts, and uses an allocation methodology designed to mitigate the effects of certain distortions in the commodity markets on such returns. Unlike many commodity indices which roll their exposure to the corresponding futures contract on a monthly basis in accordance with a pre-determined roll schedule, the index may roll into one of a number of futures contracts with varying expiration dates, as selected using the Barclays Capital Pure Beta Series 2 Methodology.

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