Continue to site >
Trending ETFs

Name

As of 05/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Vitals

YTD Return

9.7%

1 yr return

10.9%

3 Yr Avg Return

10.1%

5 Yr Avg Return

11.6%

Net Assets

$22.6 M

Holdings in Top 10

53.1%

52 WEEK LOW AND HIGH

$33.5
$29.71
$34.11

Expenses

OPERATING FEES

Expense Ratio 0.37%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 05/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

BCD - Profile

Distributions

  • YTD Total Return 9.7%
  • 3 Yr Annualized Total Return 10.1%
  • 5 Yr Annualized Total Return 11.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.24%
DIVIDENDS
  • Dividend Yield 4.1%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    abrdn ETF - abrdn Bloomberg All Comm Longer Dt Strategy K-1 Free ETF
  • Fund Family Name
    ABERDEENFU
  • Inception Date
    Mar 31, 2017
  • Shares Outstanding
    8250001
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Austin Wen

Fund Description

The Fund employs a “passive management” – or indexing – investment approach designed to track the performance of the Index. The Fund operates as an index fund and is not actively managed.

Bloomberg Commodity Index 3 Month Forward Total ReturnSM

The Index is a three-month forward version of the Bloomberg Commodity Index Total ReturnSM (“BCOMTR”), which reflects the return on a fully collateralized investment in the Bloomberg Commodity IndexSM (“BCOM”). The Fund is called “Longer Dated” because the Index it seeks to track is designed to track commodity futures with a longer maturity than that of the BCOMTR and BCOM.

The BCOM is composed of futures contracts on physical commodities and is designed to be a highly liquid and broad-based benchmark for commodities futures investments. Futures contracts on commodities generally are agreements between two parties where one party agrees to buy, and the counterparty to sell, a set amount of a physical commodity (or, in some contracts, a cash equivalent) at a pre-determined future date and price. The value of commodity futures contracts is based upon the price movements of the underlying commodities.

The BCOMTR combines the returns of the BCOM with the returns on cash collateral invested in 3-month U.S. Treasury Bills. These returns are calculated by using the most recent weekly auction high rate for 13 week (3 Month) U.S. Treasury Bills, as reported on the website http://www.treasurydirect.gov/ published by the Bureau of the Public Debt of the U.S. Treasury, or any successor source, which is generally published once per week on Monday.

The BCOM is a widely followed commodity index which is calculated and published by Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited, the administrator of the Index (collectively, “Bloomberg” or the “Index Provider”). BCOM has been published since 1998 and tracks movements in the price of a rolling position in a basket of commodity futures with a maturity between 1 and 3 months (4 to 6 months for the Index). “Rolling” means selling a futures contract as it nears its expiration date and replacing it with a new futures contract that has a later expiration date. The difference between the prices of the two contracts when they are rolled is sometimes referred to as a “roll yield,” and the change in price that contracts experience while they are components of the BCOM is sometimes referred to as a “spot return.” The Index is designed to track commodity futures contracts and is not linked to the current “spot” or cash price of the underlying commodities. Futures contracts may perform very differently from the current or “spot” prices of underlying commodities.

Futures contracts with a longer term to expiration may be priced higher than futures contracts with a shorter term to expiration, a relationship called “contango.” When rolling futures contracts that are in contango, the BCOM will sell the expiring contract at a lower price and buy a longer-dated contract at a higher price, resulting in a negative roll yield. Conversely, futures contracts with a longer term to expiration may be priced lower than futures contracts with a shorter term to expiration, a relationship called “backwardation.” When rolling futures contracts that are in backwardation, the Fund will sell the expiring contract at a higher price and buy a longer-dated contract at a lower price, resulting in a positive roll yield.

As of the date of this Prospectus, the BCOM consists of 23 commodities futures contracts with respect to 21 commodities: aluminum, coffee, copper, corn, cotton, crude oil (West Texas Intermediate, or WTI, and Brent), gold, lean hogs, live cattle, low sulfur gas oil, natural gas, nickel, RBOB (reformulated blendstock for oxygenate blending) gasoline, silver, soybean meal, soybean oil, soybeans, sugar, wheat (Chicago and KC hard red winter), ULS (ultra low sulfur) diesel and zinc. As of the date of this Prospectus, there are 25 commodity futures eligible for inclusion in the BCOM but 4 of those commodities (cocoa, lead, platinum and tin) are currently not included in the BCOM. With the exception of certain metals contracts (aluminum, lead, tin, nickel and zinc) that trade on the London Metals Exchange (“LME”) and the contracts for Brent crude oil and low sulphur gas oil, each of the commodities is the subject of at least one futures contract that trades on a U.S. exchange. The BCOM uses a consistent, systematic process to represent the commodity markets. The weightings of the components of the BCOM are based on (1) liquidity data; (2) U.S. dollar-weighted production data; and (3) diversification rules that attempt to reduce disproportionate weightings of any single commodity or sector, which potentially reduces volatility in comparison with narrower commodity baskets. Liquidity data is the relative amount of trading activity for a particular commodity and U.S. dollar-weighted production data takes the figures for production in the overall commodities market for all commodities in the BCOM and weights them in the BCOM in the same proportion in U.S. dollar terms. The value of the BCOM is computed on the basis of hypothetical investments in the basket of commodities that make up the BCOM. As of the date of this Prospectus, the BCOM invests significantly in, and therefore the Fund has significant exposure to, the agriculture, energy and industrial/precious metals sectors.

The Index is sponsored by Bloomberg, which is independent of the Fund, the Advisor and Sub-Advisor. Bloomberg determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index.The composition of the BCOM is rebalanced and published annually in the month of January.

The Fund’s Investment Strategy

The Fund uses a “passive” or representative sampling indexing approach to attempt to achieve its investment objective. The Fund does not try to outperform the Index and does not generally take temporary defensive positions. The Fund will invest in only a representative sample of the instruments in the Index, and the Fund may invest in or gain exposure to instruments not contained in the Index or in financial instruments, with the intent of tracking the Index. The Fund will also hold short-term fixed-income securities, which may be used as collateral for the Fund’s commodities futures holdings or to generate interest income and capital appreciation on the cash balances arising from its use of futures contracts (thereby providing a “total return” investment in the underlying commodities). In managing the assets of the Fund, the Advisor and Sub-Advisor do not invest the assets of the Fund in instruments based on their view of the investment merit of a particular instrument nor does it conduct conventional investment research or analysis or forecast market movement or trends. The Fund seeks to remain fully invested at all times in financial instruments that, in combination, track the returns of the Index without regard to market conditions, trends or direction. The Fund will rebalance its portfolio when the Index rebalances. Additionally, if the Fund receives a creation unit in cash, the Fund repositions its portfolio in response to assets flowing into or out of the Fund.

Under normal market conditions, the Fund intends to achieve its investment objective by investing in exchange-traded commodity futures contracts through a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). As a means to provide investment returns that are designed to track those of the Index, the Subsidiary may also invest directly in commodity-linked instruments, including pooled investment vehicles (such as exchange-traded funds and other investment companies), swaps and exchange-traded options on futures contracts, to the extent permitted under the Investment Company Act of 1940, as amended (the “1940 Act”) and any applicable exemptive relief (collectively, “Commodities-Related Assets” and, together with exchange-traded commodities futures contracts, “Commodities Instruments”). The Fund may invest up to 25% of its total assets in the Subsidiary. The Fund is called “K-1 Free” because it is designed to operate differently than commodity-based investments that distribute a “Schedule K-1” to shareholders. Schedule K-1 is a tax form containing information regarding a fund’s income and expenses, which shareholders may find complicates tax return preparation, thus requiring additional time, or the help of a professional tax adviser, at additional cost. By comparison, the Fund is designed to be taxed like a conventional mutual fund and shareholders will instead receive a Form 1099 from the broker-dealer or other financial intermediary through which they invest, from which income, gains, and losses can be entered onto the shareholder’s tax return.

The remainder of the Fund’s assets that are not invested in the Subsidiary (i.e., at least 75% of the Fund’s total assets) will principally be invested in: (1) short-term investment grade fixed-income securities that include U.S. government securities and money market instruments; and (2) cash and other cash equivalents. The Fund seeks to use such instruments to generate a total return on the cash balances arising from the use of futures contracts that, when combined with the Fund’s other investments, tracks the total return of the Index.

As noted previously, the Fund will not invest directly in commodity futures contracts but, instead, expects to gain exposure to these investments exclusively by investing in the Subsidiary. The Fund’s investment in the Subsidiary is intended to enable the Fund to gain exposure to relevant commodity markets within the limits of current federal income tax laws applicable to a regulated investment company (“RIC”) such as the Fund, which limit the ability of RICs to invest directly in commodity futures contracts. The Subsidiary and the Fund have the same investment objective. However, the Subsidiary may invest without limitation in the Commodities Instruments. Except as otherwise noted, for the purposes of this Prospectus, references to the Fund’s investments include the Fund’s indirect investments through the Subsidiary.

The Advisor and Sub-Advisor will determine the percentage of the Fund’s assets allocated to the Commodities Instruments held by the Subsidiary that will be invested in exchange-traded commodity futures contracts or Commodities-Related Assets. The Fund does not seek leveraged returns. However, the Fund’s use of instruments to collateralize the Subsidiary’s investments in Commodity Instruments has a leveraging effect and is designed to provide a total return that tracks the return of the Index.

The Fund is classified as “non-diversified” under the 1940 Act.

Read More

BCD - Performance

Return Ranking - Trailing

Period BCD Return Category Return Low Category Return High Rank in Category (%)
YTD 9.7% -12.0% 27.4% 34.85%
1 Yr 10.9% -32.3% 29.8% 50.76%
3 Yr 10.1%* -29.7% 294.4% 30.00%
5 Yr 11.6%* -26.6% 136.1% 26.98%
10 Yr N/A* -26.2% 45.9% 45.38%

* Annualized

Return Ranking - Calendar

Period BCD Return Category Return Low Category Return High Rank in Category (%)
2023 -11.6% -64.0% 30.1% 70.45%
2022 12.5% -40.8% 2475.6% 12.21%
2021 21.5% -23.3% 106.7% 23.85%
2020 3.4% -71.9% 295.5% 37.01%
2019 5.7% -31.8% 53.9% 65.08%

Total Return Ranking - Trailing

Period BCD Return Category Return Low Category Return High Rank in Category (%)
YTD 9.7% -12.0% 27.4% 34.85%
1 Yr 10.9% -32.3% 29.8% 50.76%
3 Yr 10.1%* -29.7% 294.4% 30.00%
5 Yr 11.6%* -26.6% 136.1% 26.98%
10 Yr N/A* -26.2% 45.9% N/A

* Annualized

Total Return Ranking - Calendar

Period BCD Return Category Return Low Category Return High Rank in Category (%)
2023 -7.6% -64.0% 41.1% 71.21%
2022 18.4% -15.1% 5648.8% 28.24%
2021 31.7% -23.3% 188.1% 41.54%
2020 4.8% -67.8% 296.1% 37.01%
2019 7.3% -31.8% 53.9% 65.08%

BCD - Holdings

Concentration Analysis

BCD Category Low Category High BCD % Rank
Net Assets 22.6 M 2.34 M 54.2 B 85.71%
Number of Holdings 60 1 926 46.21%
Net Assets in Top 10 148 M 2.66 M 63.2 B 71.97%
Weighting of Top 10 53.13% 21.1% 143.4% 69.53%

Top 10 Holdings

  1. United States Treasury Bill 7.00%
  2. United States Treasury Bill 6.42%
  3. United States Treasury Bill 5.38%
  4. United States Treasury Bill 5.37%
  5. United States Treasury Bill 5.02%
  6. United States Treasury Bill 5.01%
  7. United States Treasury Bill 5.00%
  8. United States Treasury Bill 4.99%
  9. United States Treasury Bill 4.66%
  10. United States Treasury Bill 4.28%

Asset Allocation

Weighting Return Low Return High BCD % Rank
Bonds
90.68% 0.00% 120.99% 12.12%
Cash
8.73% 0.00% 100.26% 68.46%
Other
0.59% -12.64% 100.00% 66.92%
Stocks
0.00% 0.00% 62.82% 97.73%
Preferred Stocks
0.00% 0.00% 0.07% 94.62%
Convertible Bonds
0.00% 0.00% 3.89% 94.57%

Bond Sector Breakdown

Weighting Return Low Return High BCD % Rank
Government
56.79% 0.00% 100.00% 17.24%
Cash & Equivalents
3.71% 0.00% 100.26% 80.34%
Derivative
0.59% -3.42% 99.82% 44.44%
Securitized
0.00% 0.00% 36.61% 93.97%
Corporate
0.00% 0.00% 42.72% 95.69%
Municipal
0.00% 0.00% 1.45% 93.97%

Bond Geographic Breakdown

Weighting Return Low Return High BCD % Rank
US
90.68% 0.00% 106.15% 11.54%
Non US
0.00% 0.00% 14.84% 94.62%

BCD - Expenses

Operational Fees

BCD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.37% 0.21% 4.07% 95.15%
Management Fee 0.36% 0.00% 1.75% 10.56%
12b-1 Fee 0.00% 0.00% 1.00% 29.31%
Administrative Fee N/A 0.02% 0.45% N/A

Sales Fees

BCD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

BCD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BCD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 162.00% N/A

BCD - Distributions

Dividend Yield Analysis

BCD Category Low Category High BCD % Rank
Dividend Yield 4.11% 0.00% 19.94% 16.77%

Dividend Distribution Analysis

BCD Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Annually Annually

Net Income Ratio Analysis

BCD Category Low Category High BCD % Rank
Net Income Ratio -0.24% -55.71% 52.26% 39.53%

Capital Gain Distribution Analysis

BCD Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

BCD - Fund Manager Analysis

Managers

Austin Wen


Start Date

Tenure

Tenure Rank

Oct 30, 2018

3.59

3.6%

Austin Wen, CFA has seven years of investment management experience. Mr. Wen is a Portfolio Manager at Vident, specializing in portfolio management and trading of equity portfolios and commodities based portfolios, as well as risk monitoring and investment analysis. Previously, Mr. Wen was an analyst for Vident Financial, working on the development and review of investment solutions. He began his career as a State Examiner for the Georgia Department of Banking and Finance. Mr. Wen obtained a BA in Finance from the University of Georgia and holds the Chartered Financial Analyst designation.

Ryan Dofflemeyer


Start Date

Tenure

Tenure Rank

Apr 30, 2022

0.08

0.1%

Ryan Dofflemeyer, Senior Portfolio Manager of Vident. Mr. Dofflemeyer has over 16 years of trading and portfolio management experience across various asset classes including both ETFs and mutual funds. He is Senior Portfolio Manager for Vident, specializing in managing and trading of global equity and multi-asset portfolios. Prior to joining Vident, he was a Senior Portfolio Manager at ProShares for over $3 billion in ETF assets across global equities, commodities and volatility strategies. Before that, he was a Research Analyst at the Investment Company Institute in Washington DC. Mr. Dofflemeyer holds a BA from the University of Virginia and an MBA from the University of Maryland.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 17.03 6.1 11.51