### Comment:
No it doesn’t.  
  
 Leverage decay != contango

### REPLY:
I didn't see anyone claim beta slippage as contango, but perhaps I missed it. As a durable commodity with a carry cost, gold spends a lot of time in contango. It's just not readily present or useful in JNUG. 
  
 I'm special needs though, so you shouldn't listen to me.

### END.