XXV: Barclays Abandons iPath Brand with Inverse Volatility ETN

Barclays launched a new inverse volatility exchange-traded note yesterday (7/19/10).  Offering no explanation in the press release, Barclays decided to abandon the popular and successful iPath brand of its two existing “long” volatility products.  Instead, Barclays is using the ETN+ brand that is currently associated with several struggling products. The new ETN is called Barclays ETN+ Inverse S&P 500 VIX Short-Term Futures ETN (XXV).  Adding to the confusion, the XXV overview page on the BARX (the leading candidate for new brand name) website has a prominent ad for iPath, although it’s designed to look like part of the page. XXV notes are set to mature in 2020, will pay no dividends, and are linked to the inverse performance of the S&P 500 VIX Short-Term Futures Index Excess Return.  They are…