Exchange-traded products have become the preferred instrument for many investors looking to add core, as well as tactical, commodities exposure to their portfolios. The “toolbox” continues to expand as investors have more than 130 commodity ETPs to choose from, with some allowing for targeted exposure to a specific resource, while many instruments offer broad-based access. One of the newest commodity-basket ETNs on the market is the iPath Pure Beta S&P GSCI-Weighted ETN (SBV), which has accumulated a little over $5 million since its launch in mid-2011 [also see 12 High-Yielding Commodities For 2012]. SBV is similar to other broad commodity ETPs in many ways, however, its product structure, portfolio composition, and one-of-a-kind weighting methodology results in a unique risk/return profile that may attract some investors, while potentially turning away others.