Active vs Passive Commodity Exposure — September

Below is our monthly look at how the various commodity ETFs track the futures markets they utilize to give investors the exposure their looking for. It’s been a year of outperformance for the energy ETFs so far this year, while the rest of the space is mixed (with Wheat especially poor).

But the key to this table, in our opinion, isn’t whether buy and holding December futures outperforms buying and holding commodity ETFs; the key for us is looking at how long/short commodities (or tactical commodities, or active commodities – as they are sometimes called). And that’s why that last line is in the table, comparing BarclayHedge’s Ag Trader Index with the average passive/long only commodity exposure… just your typical 1400 basis point outperformance (past performance is not necessarily indicative of future results).

ETF comparison Sept(Disclaimer: Past performance is not necessarily indicative of future results).





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