Sun, Sep 21, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Opalesque Futures Intelligence

Top Ten: Diversified commodity ETFs-a second generation index fund is the largest.

Friday, June 03, 2011

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.

Market Cap (in millions of dollars)

PowerShares DB Commodity Index Tracking Fund $6,249
iPath Dow Jones-UBS Commodity Index ETN $3,184
iShares S&P GSCI Commodity Index Trust $1,701
ELEMENTS Rogers International Commodity ETN $917
GreenHaven Continuous Commodity Index $762
US Commodity Index Fund $477
GS Connect S&P GSCI Enhanced Comm.TR $165
UBS ETRACS CMCI TR ETN $160
iPath S&P GSCI Total Return Index $123
UBS E-Tracs DJ¢â‚¬â€œUBS Commodity Index $26



 
This article was published in Opalesque Futures Intelligence.
Opalesque Futures Intelligence
Opalesque Futures Intelligence
Opalesque Futures Intelligence
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali