The iPath Optimized Currency Carry ETN (Ticker: ICI) seeks investment results that correspond generally to the performance, before fees and expenses, to the Barclays Intelligent Carry Index. The index offers long/short currency exposure to the G10 currencies. The G10 currencies includes the U.S. dollar, the euro, the Japanese yen, the Canadian dollar, the Swiss franc, the British pound sterling, the Australian dollar, the New Zealand dollar, the Norwegian krone and the Swedish krona. The index is designed to reflect the total return of an "Intelligent Carry Strategy," which, through an objective and systematic methodology, seeks to capture the returns that are potentially available from a strategy of investing in high-yielding currencies with the exposure financed by borrowings in low-yielding currencies sometimes referred to as the "carry trade." The index’s strategy generally invests in high-yielding major currencies and finances the exposure by borrowing in low-yielding major currencies.
