Van Eck Global - since 1955 
October 7, 2011
Weekly Commodity Update
Recap of Our Constant Maturity Commodity Benchmark: CMCI

Week Ending: Friday, October 7, 2011 

Key Points
Weekly Summary
(10/1 - 10/7)
Most commodities rallied, led by crude and copper; natural gas and wheat declined.

CMCI Performance

UBS Bloomberg Constant Maturity Commodity Index (CMCI) returned 1.66%
Roll Impact on Performance
(Contango vs. Backwardation)

CMCI:        -0.03%
DJUBS:        0.00%
S&P GSCI:   0.00%

Comparative Index Performance

As of Friday, October 7, 2011
  Total Return Impact of Roll Yield
(10/1 - 10/7) 
(10/1 - 10/7) 
CMCI  1.66% -7.82% -0.03% -0.44%
DJUBS 1.15% -12.63% 0.00% -3.70%
S&P GSCI 2.65% -6.90% 0.00% -3.08%
Shape of Front Month
Commodity Futures Curves

As of Friday, October 7, 2011
Highlights: Brent's backwardation expanded during the week, while natural gas contango steepened.
Commodity  Shape of Curve 
Aluminum Steady Contango
Brent Crude Oil Backwardation
Coffee Congango to Backwardation
Copper Mild Contango
Corn Contango to Backwardation
Cotton Contango to Backwardation
Gold Contango
Lead Backwardation to Contango
Lean Hogs Humpbacked Contango
Live Cattle Humpbacked Contango
Natural Gas Steep Contango
Sugar Steep Backwardation
Silver Backwardation to Contango
Soybeans Contango to Backwardation
Wheat Unrelenting Contango
WTI Crude Oil Mild Contango
Zinc Steady Contango

For more information on commodity futures, please visit THE CONTANGO REPORT.

Related Information
Learn about Van Eck's Commodity Solutions4

Visit for More Index Details

For More Information
Contact your Sales Representative 
Key Accounts Inquiries
Susan Marino
RIA Inquiries
Kurt Gustafson
Institutional Inquiries
Bill Best

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1CMCI's live inception date is January 1 2007. All performance information presented for the Index covering the period prior to January 1, 2007 is based on hypothetical, back-tested data. Prior to such date, the Index was not calculated in real time by an independent calculation agent. Hypothetical, back-tested performance has inherent limitations and is not indicative of future results. No representation is being made that any investment will achieve performance similar to that shown. In addition, hypothetical performance does not involve financial risk, and no hypothetical performance can completely account for the impact of financial risk (such as the ability to withstand losses) or other factors in actual trading.

3All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index's performance is not illustrative of a fund's performance. Indices are not securities in which investments can be made. Results reflect past performance and do not guarantee future results. This performance is historical and is provided to illustrate market trends. The DJUBS is composed of futures contracts on 19 physical commodities. The S&P GSCI is composed of futures contracts on 24 physical commodities, with high energy concentration and limited diversification. Both indices buy and sell short-term (i.e., "front month") futures contracts. In comparison, the UBS CMCI is composed of futures contracts on 27 physical commodities and buys and sells contracts with maturities of three months and, for some commodities, up to three years.

4Please note that Van Eck Securities Corporation offers the Van Eck CM Commodity Index Fund ("Fund") that invest in the asset class included in this email.

If this material is distributed outside of your firm, you are responsible for ensuring that the distribution complies with applicable laws, rules and regulations.

UBS and Bloomberg own or exclusively license, solely or jointly as agreed between them all proprietary rights with respect to the Index. In no way do UBS or Bloomberg sponsor or endorse, nor are they otherwise involved in the issuance and offering of the Fund nor do either of them make any representation or warranty, express or implied, to the holders of the Fund or any member of the public regarding the advisability of investing in the Fund or commodities generally or in futures particularly, or as to results to be obtained from the use of the Index or from the Fund.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. Commodities are assets that have tangible properties, such as oil, metals, and agriculture. Commodities and commodity-linked derivatives may be affected by overall market movements and other factors that affect the value of a particular industry or commodity such as weather, disease, embargos or political or regulatory developments. The value of a commodity-linked derivative is generally based on price movements of a commodity, a commodity futures contract, a commodity index or other economic variables based on the commodity markets. Derivatives use leverage, which may exaggerate a loss. The Fund is subject to the risks associated with its investments in commodity-linked derivatives, risks of investing in wholly owned subsidiary, risk of tracking error, risks of aggressive investment techniques, leverage risk, derivatives risks, counterparty risks, non-diversification risk, credit risk, concentration risk and market risk. The use of commodity-linked derivatives such as swaps, commodity-linked structured notes and futures entails substantial risks, including risk of loss of a significant portion of their principal value, lack of a secondary market, increased volatility, correlation risk, liquidity risk, interest-rate risk, market risk, credit risk, valuation risk and tax risk. Gains and losses from speculative positions in derivatives may be much greater than the derivative's cost. At any time, the risk of loss of any individual security held by the Fund could be significantly higher than 50% of the security's value. Investment in commodity markets may not be suitable for all investors. The Fund's investment in commodity-linked derivative instruments may subject the fund to greater volatility than investment in traditional securities. For a description of these and other risk considerations, please refer to the Fund's prospectuses, which should be read carefully before you invest. Again, the Fund offers investors exposure to the broad commodity markets, currently by investing in a combination of commodity-linked structured notes and swaps. The Fund has obtained a private letter ruling from the IRS confirming that the income produced by certain types of structured notes constitutes "qualifying income."

Please call 800.826.2333 or visit for performance information current to the most recent month end and for a free prospectus and summary prospectus. An investor should consider the Fund's investment objective, risks, and charges and expenses carefully before investing. The prospectus and summary prospectus contains this and other information. Please read it carefully before investing.

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