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COMIX
CM Commodity Index Fund - Class I

Daily Price as of 06/01/23

NAV† DAILY CHANGE
$4.47 $0.07 / +1.59%

Class I Details: COMIX

INCEPTION DATE GROSS/NET EXPENSES1
12/31/10 0.82%/0.65%
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Index Design Limits Losses in Q1
Index Design Limits Losses in Q1

Fund Summary and Key Points

The VanEck CM Commodity Index Fund (the "Fund") seeks to track, before fees and expenses, the UBS Constant Maturity Commodity Index (the “CMCI”). 

  • CMCI is a next-generation commodity index diversified across maturities, minimizing its exposure to the front end of the futures curves
  • By spreading its exposure across multiple maturities and maintaining a constant maturity per commodity, CMCI seeks to mitigate the impacts of negative roll yield in contango environments
  • Diversified across five commodity sectors and 29 commodity components; energy allocation typically around 35%
  • In contrast with many “enhanced” commodity funds, offers “pure” commodity exposure by investing in commodity-linked derivative instruments and more conservative fixed income securities, such as U.S. Treasury Bills
  • No K-1s – Access to commodities without burdensome K-1 tax reporting

Making the Investment Case for CMCI

Fund Details
as of 04/30/23

  • Net Assets (All Classes)
    $584.5M
  • Number of Commodity Sectors
    5
  • Number of Commodity Components
    29
  • Avg. Weighted Contract Maturity
    6.6Months
  • Benchmark Index
    UBS Constant Maturity Commodity (CMCITR) Index

Investment Approach

  • The VanEck CM Commodity Index Fund is a passively-managed mutual fund that seeks to track the CMCI by primarily investing in commodity-linked derivative instruments and conservatively-managed fixed income instruments.

    • The Fund may invest in instruments linked to the value of a particular commodity or commodity futures contract, or a subset of commodities or commodity futures contracts, through a wholly owned subsidiary of the Fund formed in the Cayman Islands.
       

Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(12/31/10)
VanEck CM Commodity Index Fund: Class I
At Net Asset Value
 -0.85 -4.49 -2.30 -8.73 27.56 7.57 0.73 --
UBS Constant Maturity Commodity Index2
 -0.69 -4.30 -1.83 -7.34 29.13 8.79 1.86 --
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(12/31/10)
VanEck CM Commodity Index Fund: Class I
At Net Asset Value 0.00 -1.46 -1.46 -6.35 26.96 8.31 0.45 --
UBS Constant Maturity Commodity Index2 0.06 -1.15 -1.15 -5.02 28.49 9.53 1.59 --

*Returns less than one year are not annualized.

The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the Fund incurred all expenses and fees1, investment returns would have been reduced. Expenses: Class I: Gross 0.82% and Net 0.65%. Expenses are capped contractually through 05/01/24 at 0.65% for Class I. Investment returns and Fund share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

CMCI Target Sector Weightings (%): Overview as of 2023-2024

SECTOR % OF NET ASSETS
■
Energy
31.9
■
Agriculture
30.9
■
Industrial Metals
25.9
■
Precious Metals
6.7
■
Livestock
4.5