COMDirexion Auspice Broad Commodity Strategy ETF
COM Fund Description
COM tracks a broad-market index consisting of 12 commodity futures contracts, weighted by historical volatility, which can toggle to cash based on momentum. The fund will also hold short-term fixed income securities as collateral.
COM Factset Analytics Insight
COM tracks a broad commodity index that considers 12 different commodity futures contracts in the agriculture, energy, and metals sectors. Futures positions are weighted by historical volatility and each position can be either long or “flat” (i.e. moved to cash) based on prevailing price trends in the contract. Contract tenor is determined by an optimized, rules-based process that selects contracts within the next 13-month period. The adviser also invests COM’s collateral in T-bills, money market funds, cash, and other short-term, highly rated corporate and government debt. Rather than a commodity pool, the fund uses a Cayman structure (getting exposure through a wholly-owned Cayman Islands subsidiary). As such, taxable investors avoids a K-1 form at tax time. Prior to August 31, 2021, COM was thought of as an index-tracking fund with an active overlay.
COM Summary Data
COM Portfolio Data
COM Index Data
COM Portfolio Management
COM Tax Exposures
COM Fund Structure
COM Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of COM. COM is rated a 5 out of 5.
COM Top 10 Targeted Commodity Weights
COM Tenor Strategy
COM uses a rules-based optimization process to choose contracts over the next 13 months that have the best possible implied roll yield.
COM Rolling Strategy
COM replaces expiring futures contracts based on an optimization process.