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About VanEck ETF Trust VanEck CMCI Commodity Strategy ETF
Expense ratio
0.65%
Home page
Inception date
Aug 21, 2023
CMCI offers diversified exposure to the five commodity sectors through a broad portfolio of 29 commodity components. The fund reaches diversification by evenly weighing each commodity based on economic significance and consumption data. Specifically, the index blends liquidity and fundamental metrics in order to select specific commodities. Liquidity is determined by consumption data, open interest, and market volume. The fundamentals draw from economic indicators such as CPI, PPI, and GDP. Instead of holding front-month contracts for each commodity, CMCI spreads the exposure across five separate maturities, targeting 3, 6, 12, 24, and 36 months for each commodity. Continuous exposure is maintained by rolling exposures daily, in an attempt to minimize the effects of contango. The fund gains up to 25% of its exposure through the use of a Cayman Islands Subsidiary, thus avoiding K-1 forms. The fund holds a large portion of its assets in fixed-income securities for margin requirements or as collateral.
Classification
What's in the fund
Exposure type
Government
Mutual fund
Bonds, Cash & Other100.00%
Government68.85%
Mutual fund31.15%
Cash−0.00%