Daily Price as of 06/08/2023
NAV† | DAILY CHANGE |
---|---|
$4.37 |
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Class A Details: CMCAX
INCEPTION DATE | GROSS/NET EXPENSES1 |
---|---|
12/31/10 | 1.26%/0.95% |
Fund Literature
Fund Summary and Key Points
The VanEck CM Commodity Index Fund (the "Fund") seeks to track, before fees and expenses, the UBS Constant Maturity Commodity Index (the “CMCI”).
- CMCI is a next-generation commodity index diversified across maturities, minimizing its exposure to the front end of the futures curves
- By spreading its exposure across multiple maturities and maintaining a constant maturity per commodity, CMCI seeks to mitigate the impacts of negative roll yield in contango environments
- Diversified across five commodity sectors and 29 commodity components; energy allocation typically around 35%
- In contrast with many “enhanced” commodity funds, offers “pure” commodity exposure by investing in commodity-linked derivative instruments and more conservative fixed income securities, such as U.S. Treasury Bills
- No K-1s – Access to commodities without burdensome K-1 tax reporting
Making the Investment Case for CMCI
Fund Details
as of 04/30/2023
-
Net Assets (All Classes)$584.5M
-
Number of Commodity Sectors5
-
Number of Commodity Components29
-
Avg. Weighted Contract Maturity6.6Months
-
Benchmark IndexUBS Constant Maturity Commodity (CMCITR) Index
Investment Approach
- The VanEck CM Commodity Index Fund is a passively-managed mutual fund that seeks to track the CMCI by primarily investing in commodity-linked derivative instruments and conservatively-managed fixed income instruments.
- The Fund may invest in instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts, through a wholly owned subsidiary of the Fund formed in the Cayman Islands.
Performance History:
Average Annual Total Returns* (%)
|
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE (12/31/10) |
---|---|---|---|---|---|---|---|---|
VanEck CM Commodity Index Fund: Class A | ||||||||
At Net Asset Value
|
-0.88 | -4.66 | -2.39 | -8.92 | 27.19 | 7.22 | 0.43 | -- |
At Maximum 5.75% Sales Charge
|
-6.58 | -10.14 | -8.00 | -14.16 | 24.70 | 5.96 | -0.16 | -- |
UBS Constant Maturity Commodity Index2
|
-0.69 | -4.30 | -1.83 | -7.34 | 29.13 | 8.79 | 1.86 | -- |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE (12/31/10) |
|
---|---|---|---|---|---|---|---|---|
VanEck CM Commodity Index Fund: Class A | ||||||||
At Net Asset Value | 0.00 | -1.52 | -1.52 | -6.62 | 26.57 | 7.98 | 0.15 | -- |
At Maximum 5.75% Sales Charge | -5.75 | -7.18 | -7.18 | -11.99 | 24.10 | 6.71 | -0.44 | -- |
UBS Constant Maturity Commodity Index2 | 0.06 | -1.15 | -1.15 | -5.02 | 28.49 | 9.53 | 1.59 | -- |
CMCI Target Sector Weightings (%): Overview as of 2023-2024
SECTOR | % OF NET ASSETS |
---|---|
■
Energy
|
31.9 |
■
Agriculture
|
30.9 |
■
Industrial Metals
|
25.9 |
■
Precious Metals
|
6.7 |
■
Livestock
|
4.5 |
Total |