CMDYiShares Bloomberg Roll Select Commodity Strategy ETF
CMDY Fund Description
CMDY tracks an index that holds futures contracts on a roll-cost optimized broad market commodity index.
CMDY Factset Analytics Insight
CMDY’s underlying index tracks futures contracts on 20 different commodities, covering the agriculture, energy, and metals sectors. Index components are weighted by a combination of production and liquidity. In addition, the index selects contract tenors with the least amount of contango or the greatest degree of backwardation. This feature should aid CMDY’s performance over longer holding periods, but also means that it may not be very sensitive to short-term changes in commodity prices. CMDY gets its exposure by holding futures contracts on the index via a Cayman Islands subsidiary — A common structure in the commodity space that allows investors to avoid the complex tax rules that apply to commodity pools. The Index is rebalanced annually each January. Prior to March 1, 2021, CMDY was an actively-managed fund but seeks maximum correlation to the index.
CMDY Portfolio Management
CMDY Tax Exposures
CMDY Fund Structure
CMDY Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of CMDY. CMDY is rated a 5 out of 5.
CMDY Tenor Strategy
CMDY invests in contracts that are optimized for the highest degree of backwardation and will vary in tenor during every rebalance.
CMDY Rolling Strategy
CMDY's contract selection is on the 4th business day of each month and rolled on the 6th through the 10th business day of the month.