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Diversified Commodity Index Funds
This is a ranking of diversified commodity exchange-traded funds and notes. The list is from the ETF Database.
The funds are ranked by the most recently available market capitalization (closing price X units outstanding) as of May 27th. The iShares S&P GSCI Commodity Index Trust, however, has a different structure and because of that is represented by net assets under management.
The list contains first, second and third generation products-as defined by John Hyland in Founders. Several of the funds are based on the first-generation Goldman Sachs Commodity Index. These came into the market earlier.
The PowerShares fund that heads the list with a market cap of $6.2 billion has an underlying index that is second generation, from Deutsche Bank.
The US Commodity Index Fund, launched in August 2010 and based on the SummerHaven index, is an example of the third generation. See the interview with Mr. Hyland for a discussion of how the indexes differ in methodology and performance.
Note that an ETN is the debt obligation of its issuer and distinct from an ETF, though the investment program can be similar.
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This article was published in Opalesque Futures Intelligence.
 
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