What is COM?

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.

PERFORMANCE [as of 11/28/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
COM -0.62% -2.35% 6.93% 8.21% 14.11% 8.15% --
COM (NAV) -0.65% -2.20% 7.18% 8.46% 14.11% 8.17% --
Auspice Broad Commodity Index -- -- -- -- -- -- --
S&P GSCI -4.45% -9.18% 24.08% 29.18% 11.43% 6.83% -3.40%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

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

Direxion
03/30/17
0.72%
$279.45M
Auspice Broad Commodity Index
S&P GSCI
Open-Ended Fund

Peers

S&P GSCI

Fund Flows

$0.00B 5 Days
-$0.02B 30 Days
-$0.05B 90 Days

COM Portfolio Data

Futures
Optimized
N/A
--

COM Index Data

Auspice Broad Commodity Index
Technical
Fixed
S&P GSCI

COM Portfolio Management

0.72%
--
--
--

COM Tax Exposures

20.00% / 39.60%
--
No

COM Fund Structure

Open-Ended Fund
Yes
No
N/A
N/A
Low
Daily

Factset Analytics Block Liquidity

As of 11/29/22

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 Tradability

66,525
$1.99M
42,302
$1.26M
0.15%
$0.04
0.02%
1.49% / -0.47%
None
100.00%
50,000
0.85
0.00%
--
73
$29.67
5

COM Sector Breakdown

COM Segment
Benchmark
82.08% --
17.92% --

COM Top 10 Targeted Commodity Weights

17.92%
100.00%

COM Performance Statistics

0.65
0.30
--
--
0.00%

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.