The VanEck CMCI Commodity Strategy ETF (OTCMKTS:CMCI) is an exchange-traded fund managed by VanEck Associates Corporation, a New York–based asset manager founded in 1955. The fund provides investors with broad exposure to commodity markets by tracking a constant-maturity commodity futures index. VanEck leverages its decades of experience in commodities and alternative strategies to offer a single vehicle that seeks to capture returns from energy, agriculture, industrial metals, and precious metals futures without requiring direct futures trading by the investor.
The fund seeks to replicate the performance of the Bloomberg Constant Maturity Commodity Index (CMCI), an index originally developed by Société Générale and now maintained by Bloomberg. This index measures the collateralized returns of rolling a diversified basket of commodity futures contracts at a fixed one-year maturity. By maintaining a constant maturity, the index aims to reduce the impact of rolling costs and spot-curve fluctuations that can erode returns in traditional commodity futures strategies.
Capitalizing on this methodology, the VanEck CMCI Commodity Strategy ETF maintains dynamic weightings across major commodity sectors. The index methodology rebalances monthly, adjusting exposures to 26 individual commodity futures contracts based on liquidity, open interest and other factors. Through this systematic approach, the fund seeks to offer investors smoother return patterns and improved diversification benefits relative to spot-weighted or production-weighted commodity benchmarks.
Since its launch, the VanEck CMCI Commodity Strategy ETF has expanded its distribution to both institutional and retail investors in North America, Europe and Asia. The product is overseen by VanEck’s commodities team, which includes senior portfolio managers with expertise in futures markets and risk management. As part of VanEck’s broader lineup of exchange-traded products, CMCI complements fixed income, equity and alternative allocations by providing direct access to the performance drivers of the global commodities complex.
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