The 12 ETFs tracking the Bloomberg Commodity Index have witnessed -$1.04 billion in combined outflows over the past three months as investors cash out the gains led by the energy commodities rally in the third quarter. The ETFs have $4.01 billion in combined assets and generated a 3-month loss of -2.36%.
The Bloomberg Commodity Index is designed to be a benchmark for commodity investments. It reflects the performance of a broad basket of commodities including Livestock (6%), Softs (7%), Industrial Metals (15%), Precious Metals (19%), Grains (23%), and Energy commodities (30%). The goal of the index is to provide diversified exposure to commodities as an asset class. It is important to note that the index is based on financial derivatives (futures) and not physical commodities.
The two largest ETFs in the group are the iShares Diversified Commodity Swap UCITS ETF (ICOM, $1.94 billion) and the Invesco Bloomberg Commodity UCITS ETF (CMOD, $1.36 billion). Over the past month, ICOM and CMOD lost -5.8% each.
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