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Non-Leveraged ETFs

COM

The Direxion Auspice Broad Commodity Strategy ETF seeks to provide total returns that exceed that of the Auspice Broad Commodity Index over a complete market cycle. There is no guarantee the fund will meet its stated investment objective.

Overall Morningstar RatingTM ««««
Overall Morningstar RatingTM out of 101 US Fund Commodities Broad Basket funds based on risk adjusted returns as of 06/30/2023.

 

NAVas of Sep 29, 2023
1 Day NAV Changeas of Sep 29, 2023
$29.66
$-0.22(-0.74 %)

Related Links

Overview

Fund Information

Fund SymbolIntra-day ValueBenchmark IndexSecurity IdentifierExpense Ratio (gross/net %)Inception Date
COMCOM.IVABCERI25460E3070.81 / 0.81*Mar 30, 2017

Documents & Downloads

Strategy & Benefits

Strategy Description

  • A 40 Act, non K-1 generating approach to commodity investing
  • Exposure to 12 commodities that can individually be long or flat (if a short signal is triggered the position is moved to cash)
  • The ability to make position changes intra-month based on trends
  • Month-end review where the position size of each component is modified if volatility exceeds certain predetermined risk levels
  • A “smart” contract roll approach designed to select cost effective futures contracts to roll into upon expiration of current contract.

Why Consider Long/Flat Commodities?

Most traditional commodity funds can only benefit if commodity prices rise. However, these long-only commodity strategies have shown to be inconsistent over time because:

  • Commodity returns are typically cyclical and sporadic
  • Individual commodity sub-sectors tend to perform dissimilarly in different market environments
  • Significant draw-downs can be damaging to the long-term performance of a portfolio

Within the inherently volatile commodity markets, a long/flat approach is potentially more adaptive to whip-sawing market conditions.

Fund Details

Component Sectors and Current Positioning

Metals Position (Long/Flat)
Copper Flat
Gold Flat
Silver Flat
Agriculture
Soybeans Long
Corn Flat
Wheat Flat
Cotton Long
Sugar Long
Energy
Crude Oil Long
Natural Gas Flat
Gasoline Long
Heating Oil Long

All data as of 09/01/2023 and is subject to change at any time and are not recommendations to buy or sell any security. When the positions within the various components are flat, they will be invested in cash and U.S. Treasury Bills. Individual components may vary based on risk levels.

 


Target Index

The Auspice Broad Commodity Index (ABCERI) is a rules-based long/flat broad commodity index that seeks to capture the majority of the commodity upside returns, while seeking to mitigate downside risk. The Index is made up of a diversified portfolio of 12 commodities futures contracts (Silver, Gold, Copper, Heating Oil, Natural Gas, Gasoline, Crude Oil, Wheat, Soybeans, Corn, Cotton, and Sugar) that based on price trends can individually be Long or Flat (in Cash). One cannot directly invest in an index.

Index Comparison

Calendar Year Total Returns %
Return/Risk Characteristics of ABCERI vs Notable Broad Commodity Indices

ABCERI S&P GSCI4 BCOM5 DBC CI6
2011 0.54 -1.23 -13.37 -2.44
2012 -1.29 -0.34 -1.13 3.77
2013 -3.27 -1.28 -9.58 -6.60
2014 -8.97 -33.08 -17.04 -26.45
2015 -13.45 -32.90 -24.70 -26.72
2016 8.55 11.00 11.40 19.15
2017 -7.94 4.78 0.75 5.18
2018 -0.98 -15.43 -12.92 -12.84
2019 -3.06 15.17 5.44 10.60
2020 5.92 -23.97 -3.49 -7.85
2021 28.24 40.29 27.05 42.53
2022 8.71 23.52 13.79 18.86

Data Range: 01/01/2011 – 12/31/2022.

Annualized Return1 1.96 -3.13 -2.50 -0.05
Total Return 28.11 33.34 -27.66 -0.65
Annualized Std. Deviation2 8.88 21.70 14.75 17.64
Max Drawdown3 -43.08% -79.62% -66.09% -64.99%

Date Range: 09/30/2010 – 06/30/2023

1Annualized Return and past performance does not guarantee future results. Index returns and correlations are historical and are not representative of any Fund performance. Total returns of the Index include reinvested dividends. One cannot invest directly in an index.

2Standard Deviation is a measure of the dispersion of a set of data from its mean.

3Maximum Drawdown is the greatest percent decline from a previous high.

4S&P GSCI Excess Return Index (S&P GSCI), a composite index of commodity sector returns representing an unleveraged, long-only investment in commodity futures that is broadly diversified across the spectrum of commodities

5Bloomberg Commodity Excess Return Index (BCOM), a broadly diversified index that allows investors to track 19 commodity futures through a single, simple measure.

6Deutsche Banc Liquid Commodity Optimum Yield Index (DBC CI), an index composed of futures contracts on 14 of the most heavily-traded and important physical commodities in the world.

 

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Pricing & Performance

NAV and Market Price information as of September 29, 2023. Line chart shows pricing trend over the last 30 days.

Net asset value (NAV)
  • 29.66
    NAV $
  • -0.22
    Change $
  • -0.74
    Change %
Market price closing
  • 29.69
    Market $
  • -0.21
    Change $
  • -0.69
    Change %
Premium / Discount
0.03
monthly1M %3M %YTD %1Y %3Y %5Y %10Y %Since InceptionInception DateExpense Ratio*
(Gross / Net %)
NAV-0.74 -1.63 2.64 3.09 16.32 8.30 6.51 03/30/20170.81 / 0.81*
Market Close-0.77 -1.82 2.61 3.06 16.16 8.25 6.50
As of August 31, 2023
quarterly1M %3M %YTD %1Y %3Y %5Y %10Y %Since InceptionInception DateExpense Ratio*
(Gross / Net %)
NAV-2.53 -2.18 1.71 -0.46 18.70 8.22 6.54 03/30/20170.81 / 0.81*
Market Close-2.52 -2.27 1.89 -0.48 18.70 8.23 6.56
ABCERI-2.87 -3.15 -0.17 -3.29 18.25 6.95 5.28 -
As of June 30, 2023

The Primary Listing Exchange is the NYSE Arca, Inc.

*The Fund’s adviser, Rafferty Asset Management, LLC (“Rafferty”) has entered into an Operating Services Agreement with the Fund. Under this Operating Services Agreement, Rafferty has contractually agreed to pay all expenses of the Fund as long as it is the advisor of the Fund other than the following: management fees, Rule 12b-1 distribution and/or service fees, taxes, swap financing and related costs, dividends or interest on short positions, other interest expenses, brokerage commissions, expenses incurred in connection with any merger or reorganization, acquired fund fees and expenses, and extraordinary expenses. If these expenses were included, the expense ratio would be higher.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate. An investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized. For the most recent month-end performance please visit the funds website at www.direxioninvestments.com.

Short-term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. For additional information, see the fund’s prospectus.


Distributions

Record DateEx DatePay DateIncome DividendShort-Term Capital GainLong-Term Capital Gain
09/20/202309/19/2023 09/26/2023 0.31414
06/22/202306/21/2023 06/28/2023 0.54710
12/21/202212/20/2022 12/28/2022 0.86080
06/23/202206/22/2022 06/29/2022 1.16408
03/23/202203/22/2022 03/29/2022 0.50349
12/22/202112/21/2021 12/29/2021 3.01016

Tax Documents

Download the following Tax Reporting Documents