RJAElements Rogers International Commodity Index-Agriculture TR ETN
RJA Fund Description
RJA tracks a consumption-based index of agricultural commodities chosen by the RICI committee. It gains exposure using front-month futures contracts.
RJA Factset Analytics Insight
RJA represents the value of a basket of 21 agricultural futures contracts for commodities consumed in the global economy. The note’s index gets its exposure via front-month futures contracts, where expiring contracts are rolled into the next-nearest month. Individual components in the index are selected on the basis of volume and liquidity data as monitored and considered by the RICI committee. RJA is a consumption-weighted portfolio that cuts its benchmark's weights to corn and soybeans, and expands its coverage to include agricultural feedstock and livestock. With this, and its pumped-up exposure to cotton, sets RJA apart from its benchmark. Structured as an ETN, RJA avoids K-1 distributions, but carries the counterparty risk of its issuer.
RJA Summary Data
RJA Portfolio Data
RJA Index Data
RJA Portfolio Management
RJA Tax Exposures
RJA Fund Structure
RJA Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of RJA. RJA is rated a 5 out of 5.
RJA Sector Breakdown
RJA Tenor Strategy
RJA invests solely in front-month futures contracts. This means that the fund will be particularly sensitive to changes in spot prices, but may be priced higher or lower than spot, sometimes dramatically.
RJA Rolling Strategy
RJA rolls its underlying contracts over a 15 day period during the month preceeding a given contract's expiration.