BCMiPath Pure Beta Broad Commodity ETN
BCM Fund Description
BCM tracks an index of commodities futures contracts whose tenors are chosen to mitigate the effects of contango.
BCM Factset Analytics Insight
BCM tries to beat the Barclays Commodity Index (BCI) by dynamically picking the futures contracts it uses to gain exposure to the BCI's commodities. The BCI weights its holdings based on liquidity, and caps the weight of commodity sectors at 35% and commodity groups (i.e., energy, metals, softs) at 20%. BCM has a unique basket and dynamic contract picking strategy. In contrast to BCI which rolls its exposure to the futures contracts on a monthly basis in accordance with a pre-determined roll schedule, BCM uses a quantitative approach to generate commodity returns by choosing a point on the futures curve that is intended to be more representative of commodities market.
BCM Portfolio Management
BCM Tax Exposures
BCM Fund Structure
BCM Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of BCM. BCM is rated a 5 out of 5.
BCM Sector Breakdown
BCM Tenor Strategy
BCM's optimized tenor selection aims to replicate front-year returns without being subject to front-month market disruptions.
BCM Rolling Strategy
BCM rolls contracts over an annually pre-determined 5 day period each month.