The best commodity ETFs

How do I invest in a broad commodities basket?

Investing in commodities is considered risky. However, from a diversification perspective it can be interesting to invest in commodities. In particular, the historically negative correlation of commodities to stocks can improve portfolio diversification. A commodities investment is generally realised through an investment in forward or futures contracts. Commodity indices usually track a basket of commodities.

There are several indices available to invest with ETFs in a broad basket of commodities. There are also subindices on single or selected commodity segments, which are usually derived from broad basket indices. This Investment Guide will help you navigate among the peculiarities of the most important commodity indices, which vary substantially in their methodologies. It will allow you to find the most suitable ETFs for you by ranking them according to your preferences.

0,15% p.a. - 0,46% p.a.
annual total expense ratio (TER) of commodity ETFs
on commodities, which are tracked by ETFs
on commodities
 
The best indices for commodity ETFs

El mejor commodity ETF por rentabilidad del fondo a un año a partir del 30/9/22

Todos los commodity ETFs clasificados por la rentabilidad del fondo

 

El mayor commodity ETF por patrimonio del fondo en euros

Todos los commodity ETFs clasificados por patrimonio del fondo

 

El commodity ETF más barato por gastos corrientes totales

Todos los commodity ETFs clasificados por gastos corrientes totales

 
 

Commodity indices compared

Diversification of the most important commodity indices

 

Source: justETF Research; Strategic weights of the single commodity segments

 

Methodologies of the most important commodity indices

Bloomberg Commodity Rogers International Commodity (RICI) Refinitiv/ CoreCommodity CRB
Number of ETFs 5 ETFs 0 ETFs 1 ETF
Number of commodities 23 38 19
Index review annually annually
(index is rebalanced monthly)
annually
(index is rebalanced monthly)
Selection criteria Economic significance (production), diversification, continuity and liquidity Global consumption and liquidity (reviewed by a committee) Liquidity, economic importance, correlation and contribution to strategic asset allocation (reviewed by a committee)
Index weighting 1/3 production
2/3 liquidity
Global consumption and liquidity (reviewed by a committee) Grouped by liquidity (4 groups). Petroleum products capped at 33%, other 3 groups equal weighted
Cap on single commodity 15% - Group-specific
Cap on commodities segment 33% - -
 
Optimised Roll Commodity UBS Bloomberg CMCI
Number of ETFs 2 ETFs 1 ETF
Number of commodities 23 29
Index review annually annually
(index is rebalanced monthly)
Selection criteria Economic significance (production), diversification, continuity and liquidity Fundamental factors and liquidity
Index weighting 1/3 production
2/3 liquidity
Fundamental factors and liquidity
Cap on single commodity 15% 35% largest commodity
20% all others
Cap on commodities segment 33% -

Source: justETF Research; As of 31/05/2021

 

Performance of the commodity indices in comparison

Performance of the commodity indices in comparison
 

Bloomberg Commodity Index

The Bloomberg Commodity index (previously: Dow Jones UBS Commodity index) is based on the economic significance of the commodities. Besides diversification, continuity and market liquidity are considered when selecting and weighting the index components. Currently, the Bloomberg Commodity index tracks 23 commodities from the energy, precious metals, industrial metals, livestock and agriculture segments.

 

Methodology of the Bloomberg Commodity FactsheetMethodology

  • Broad commodities basket of 23 components
  • Commodities are selected by economic significance (production), diversification, continuity and market liquidity
  • Annual index review and rebalancing
  • Monthly roll period
  • Single commodity is capped at 15%
  • Commodities segment is capped at 33%
  • The index was introduced in 1998

Further subindex

Bloomberg Commodity 3 Month Forward

 

Refinitiv/CoreCommodity CRB Index

The Refinitiv/CoreCommodity CRB index (previously: Thomson Reuters/CoreCommodity CRB index) is a broad commodities index that tracks 19 commodities. Dependent on their liquidity, the commodities are segmented into four groups. The first group contains petroleum products and is capped at 33%. The second group contains seven highly liquid commodities (which are equal weighted at 6%) and is capped at 42%. The third group contains four liquid commodities (equal weighted at 5%) capped at 20%. Finally, the last group contains five commodities (equal weighted at 1%) capped at 5%.

 

Methodology of the Refinitiv/CoreCommodity CRB FactsheetMethodology

  • Commodities basket of 19 components
  • Commodities are selected by liquidity, global economic significance, correlations of commodity sectors and their contribution to strategic asset allocation
  • Annual index review
  • Index is rebalanced on a monthly basis
  • Monthly roll period
  • The index was introduced in 1994

Further subindex

Refinitiv/CoreCommodity CRB Non-Energy

 

Optimised Roll Commodity Index

The Optimised Roll Commodity index is based on the Bloomberg Commodity index in terms of composition and target weighting of the various commodities. Thus, commodities are selected and weighted according to their economic significance. Diversification, continuity and market liquidity are also taken into account. As the Bloomberg Commodity index, the Optimised Roll Commodity index tracks 23 commodities from the energy, precious metals, industrial metals, livestock and agriculture segments. The Optimised Roll Commodity index aims to outperform the Bloomberg Commodity index over the long term by optimising roll returns. To achieve this, the maturity of new futures contracts is adjusted monthly based on liquidity criteria.

 

Methodology of the Optimised Roll Commodity FactsheetMethodology

  • Broad commodities basket of 23 components
  • Index composition and target weights are identical to the Bloomberg Commodity index
  • Commodities are selected by economic significance (production), diversification, continuity and market liquidity
  • Annual index review and rebalancing
  • Maturity of futures contracts is adjusted monthly to optimise roll return
  • Single commodity is capped at 15%
  • Commodities segment is capped at 33%
 

UBS Bloomberg CMCI Index

The UBS Bloomberg CMCI index tracks 29 commodities representing five broad sectors including energy, precious metals, base metals, agriculture and livestock. The index diversifies its futures across the maturity curve and thus offers constant maturities. Therewith, the index tries to minimise the risk of a negative roll yield.

 

Methodology of the UBS Bloomberg CMCI FactsheetMethodology

  • Broad commodities basket of 29 components
  • Commodities are selected according to economic indicators like CPI, PPI, and GDP. Secondary factor is their market liquidity
  • Largest commodity is capped at 35%, all other commodities are capped at 20%
  • Constant maturity to reduce the negative roll yield
  • Annual index review
  • Index is rebalanced on a monthly basis
  • Daily roll period
  • The index was introduced in 2007

Further subindex

UBS Bloomberg CMCI Ex Agriculture Ex Livestock Capped

 
 

Commodity ETFs en comparación

Los factores más importantes de un vistazo

A la hora de elegir el a commodity ETF hay que tener en cuenta otros factores además de la metodología del índice subyacente y el rendimiento de un ETF. Para una mejor comparación, encontrarás una lista de todos los commodity ETFs con detalles sobre el patrimonio, el coste, la edad, los ingresos, el domicilio y el método de replicación clasificados por patrimonio del fondo.

Compara todos los commodity ETFs en detalle
Compara todos los commodity ETFs en un gráfico

ETF
ISIN
  Patrimonio
en m EUR
Gastos corrientes
en %
Uso del beneficio Domicilio del fondo Método de replica
Invesco Bloomberg Commodity UCITS ETF AccIE00BD6FTQ80 1.899 0,19% p.a. Acumulación Irlanda Swap sin fondos
iShares Diversified Commodity Swap UCITS ETFIE00BDFL4P12 1.604 0,19% p.a. Acumulación Irlanda Swap sin fondos
Lyxor Commodities Refinitiv/CoreCommodity CRB TR UCITS ETF - AccLU1829218749 1.429 0,35% p.a. Acumulación Luxemburgo Swap sin fondos
UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-accIE00B53H0131 1.165 0,34% p.a. Acumulación Irlanda Swap
L&G Longer Dated All Commodities UCITS ETFIE00B4WPHX27 555 0,30% p.a. Acumulación Irlanda Swap sin fondos
iShares Diversified Commodity Swap UCITS ETF (DE)DE000A0H0728 422 0,46% p.a. Acumulación Alemania Swap sin fondos
WisdomTree Enhanced Commodity UCITS ETF USDIE00BZ1GHD37 330 0,35% p.a. Distribución Irlanda Swap sin fondos
WisdomTree Enhanced Commodity UCITS ETF USD AccIE00BYMLZY74 219 0,35% p.a. Acumulación Irlanda Swap sin fondos
L&G All Commodities UCITS ETFIE00BF0BCP69 87 0,15% p.a. Acumulación Irlanda Swap sin fondos
Xtrackers Bloomberg Commodity Swap UCITS ETF 1CLU2278080713 4 0,19% p.a. Acumulación Luxemburgo Swap sin fondos
WisdomTree Broad Commodities UCITS ETFIE00BKY4W127 3 0,19% p.a. Acumulación Irlanda Swap sin fondos

Fuente: justETF.com; A partir de 2/10/22

 

Comparación del rendimiento de todos los commodity ETFs

La tabla muestra los rendimientos de todos los commodity ETFs en comparación. Todas las cifras de rentabilidad incluyen los dividendos a final de mes. Además de la rentabilidad es importante la fecha de referencia en la que se realiza la comparación. Para encontrar el mejor ETF, también puedes realizar una comparación gráfica.

ETF   1 mes
en %
3 meses
en %
6 meses
en %
1 año
en %
3 años
en %
Lyxor Commodities Refinitiv/CoreCommodity CRB TR UCITS ETF - Acc -5,58% -0,04% 3,33% 41,22% 74,59%
L&G Longer Dated All Commodities UCITS ETF -4,95% 3,72% 3,91% 37,98% 83,98%
WisdomTree Enhanced Commodity UCITS ETF USD -4,59% -0,27% 1,30% 33,97% 66,34%
UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc -3,40% -0,10% -0,12% 33,54% 73,18%
WisdomTree Enhanced Commodity UCITS ETF USD Acc -5,22% -0,84% 0,66% 33,16% 65,33%
iShares Diversified Commodity Swap UCITS ETF (DE) -5,89% 3,43% 2,28% 32,76% 60,02%
L&G All Commodities UCITS ETF -5,98% 2,26% 1,62% 32,75% 62,40%
Invesco Bloomberg Commodity UCITS ETF Acc -5,59% 2,49% 1,63% 32,57% 62,32%
iShares Diversified Commodity Swap UCITS ETF -6,26% 1,84% 1,13% 31,93% 61,57%
WisdomTree Broad Commodities UCITS ETF -5,48% 2,80% 2,00% - -
Xtrackers Bloomberg Commodity Swap UCITS ETF 1C -4,87% 3,89% 4,19% - -
ETF   2022
en %
2021
en %
2020
en %
2019
en %
2018
en %
Lyxor Commodities Refinitiv/CoreCommodity CRB TR UCITS ETF - Acc 36,54% 48,62% -17,30% 13,09% -6,71%
Xtrackers Bloomberg Commodity Swap UCITS ETF 1C 33,21% - - - -
L&G Longer Dated All Commodities UCITS ETF 32,77% 43,78% -5,60% 10,07% -5,42%
WisdomTree Broad Commodities UCITS ETF 32,36% - - - -
L&G All Commodities UCITS ETF 31,91% 37,47% -11,43% 9,48% -7,32%
Invesco Bloomberg Commodity UCITS ETF Acc 31,85% 37,23% -11,29% 9,55% -7,43%
iShares Diversified Commodity Swap UCITS ETF 31,20% 37,34% -11,33% 9,49% -7,43%
iShares Diversified Commodity Swap UCITS ETF (DE) 31,09% 39,23% -14,29% 8,60% -6,62%
WisdomTree Enhanced Commodity UCITS ETF USD 28,26% 36,94% -6,84% 9,29% -5,52%
WisdomTree Enhanced Commodity UCITS ETF USD Acc 27,49% 36,96% -6,82% 9,20% -5,50%
UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc 25,63% 45,02% -7,12% 10,98% -6,87%

Fuente: justETF.com; A partir de 30/9/22; Cálculos en EUR, incluidos los dividendos