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 %)
Overview
Fund Information
| Fund Symbol | Intra-day Value | Benchmark Index | Security Identifier | Expense Ratio (gross/net %) | Inception Date |
|---|---|---|---|---|---|
| COM | COM.IV | ABCERI | 25460E307 | 0.81 / 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.
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.
Watch the Video.
Pricing & Performance
NAV and Market Price information as of September 29, 2023. Line chart shows pricing trend over the last 30 days.
- COM
Net asset value (NAV)
- 29.66NAV $
- -0.22Change $
- -0.74Change %
Market price closing
- 29.69Market $
- -0.21Change $
- -0.69Change %
Premium / Discount
0.03
| monthly | 1M % | 3M % | YTD % | 1Y % | 3Y % | 5Y % | 10Y % | Since Inception | Inception Date | Expense Ratio* (Gross / Net %) |
|---|---|---|---|---|---|---|---|---|---|---|
| NAV | -0.74 | -1.63 | 2.64 | 3.09 | 16.32 | 8.30 | — | 6.51 | 03/30/2017 | 0.81 / 0.81* |
| Market Close | -0.77 | -1.82 | 2.61 | 3.06 | 16.16 | 8.25 | — | 6.50 |
| quarterly | 1M % | 3M % | YTD % | 1Y % | 3Y % | 5Y % | 10Y % | Since Inception | Inception Date | Expense Ratio* (Gross / Net %) |
|---|---|---|---|---|---|---|---|---|---|---|
| NAV | -2.53 | -2.18 | 1.71 | -0.46 | 18.70 | 8.22 | — | 6.54 | 03/30/2017 | 0.81 / 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 | — | - |
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.
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
- COM
| Record Date | Ex Date | Pay Date | Income Dividend | Short-Term Capital Gain | Long-Term Capital Gain |
|---|---|---|---|---|---|
| 09/20/2023 | 09/19/2023 | 09/26/2023 | 0.31414 | — | — |
| 06/22/2023 | 06/21/2023 | 06/28/2023 | 0.54710 | — | — |
| 12/21/2022 | 12/20/2022 | 12/28/2022 | 0.86080 | — | — |
| 06/23/2022 | 06/22/2022 | 06/29/2022 | 1.16408 | — | — |
| 03/23/2022 | 03/22/2022 | 03/29/2022 | 0.50349 | — | — |
| 12/22/2021 | 12/21/2021 | 12/29/2021 | 3.01016 | — | — |
Tax Documents
Download the following Tax Reporting Documents
- Form 8937 (2020)