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Trending ETFs

BlackRock Institutional Trust Company N.A. - iShares Bloomberg Roll Select Commodity Strategy ETF

ETF
CMDY
Payout Change
Pending
Price as of:
$50.08 +0.09 +0.18%
primary theme
Commodity
CMDY (ETF)

BlackRock Institutional Trust Company N.A. - iShares Bloomberg Roll Select Commodity Strategy ETF

Payout Change
Pending
Price as of:
$50.08 +0.09 +0.18%
primary theme
Commodity
CMDY (ETF)

BlackRock Institutional Trust Company N.A. - iShares Bloomberg Roll Select Commodity Strategy ETF

Payout Change
Pending
Price as of:
$50.08 +0.09 +0.18%
primary theme
Commodity

Name

As of 06/11/2024

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

6.4%

1 yr return

7.5%

3 Yr Avg Return

4.6%

5 Yr Avg Return

8.3%

Net Assets

$224 M

Holdings in Top 10

32.9%

52 WEEK LOW AND HIGH

$50.0
$45.48
$52.91

Expenses

OPERATING FEES

Expense Ratio 0.69%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 0.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 06/11/2024

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

CMDY - Profile

Distributions

  • YTD Total Return 6.4%
  • 3 Yr Annualized Total Return 4.6%
  • 5 Yr Annualized Total Return 8.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.16%
DIVIDENDS
  • Dividend Yield 4.8%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    BlackRock Institutional Trust Company N.A. - iShares Bloomberg Roll Select Commodity Strategy ETF
  • Fund Family Name
    INVESCOETF
  • Inception Date
    Apr 05, 2018
  • Shares Outstanding
    6150000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Greg Savage

Fund Description

The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in a combination of financial instruments that are economically linked to the world’s most heavily traded commodities. Commodities are assets that have tangible properties, such as oil, agricultural produce or raw metals.Under normal circumstances, the Fund invests, either directly or through a wholly-owned subsidiary (the “Subsidiary”), in a combination of four categories of investments: (i) exchange-traded futures contracts on underlying commodities (“Commodities Futures”); (ii) other instruments whose value is derived from or linked to price movements of underlying physical commodities, represented by exchange-traded futures contracts on commodity indices, commodity-linked notes, exchange-traded options on Commodities Futures, swaps on commodities and commodity-related forward contracts (collectively, these are “Commodity-Linked Instruments”); (iii) exchange-traded products related to or providing exposure to commodities (i.e., commodity-linked equity securities, investment companies, other ETFs, exchange-traded notes (“ETNs”) and commodity pools), as described further below (collectively, the “Commodity-Related Assets”); and (iv) cash, cash-like instruments or high-quality securities (collectively, “Collateral”). The Collateral may consist of (1) U.S. Government securities, such as bills, notes and bonds issued by the U.S. Treasury; (2) money market funds; and/or (3) corporate debt securities, such as commercial paper and other short-term unsecured promissory notes issued by businesses that are rated investment grade or determined by the Adviser to be of comparable quality. Such Collateral is designed to provide liquidity, serve as margin or otherwise collateralize investments in the Commodities Futures and Commodity-Linked Instruments.While the Fund may invest directly in Commodity-Related Assets and Collateral, it may not invest directly in physical commodities, Commodities Futures or Commodity-Linked Instruments. Instead, the Fund attempts to obtain investment returns that are highly correlated to the commodities markets by investing in these instruments indirectly through its Subsidiary. The Fund’s investment in the Subsidiary is expected to provide the Fund with exposure to Commodities Futures and Commodity-Linked Instruments in accordance with the limits of the federal tax laws, which limit the ability of investment companies like the Fund to invest directly in such investments. The Fund’s investment in the Subsidiary may not exceed 25% of the Fund’s total assets at each quarter-end of the Fund’s fiscal year. The Subsidiary operates under Cayman Islands law. It is wholly-owned and controlled by the Fund and advised by the Adviser. The Subsidiary has the same investment objective as the Fund and will follow the same general investment policies and restrictions, except that unlike the Fund, it may invest without limit in Commodities Futures and Commodity-Linked Instruments. Except as noted, for purposes of this Prospectus, references to the Fund’s investment strategies and risks include those of its Subsidiary.The Subsidiary invests in Commodities Futures that are components of the Bloomberg Roll Select Commodity Total Return Index (the “Benchmark”), an index composed of 23 futures contracts of varying maturities on up to 21physical commodities: aluminum, coffee, copper, corn, cotton, crude oil, diesel oil, gold, lean hogs, live cattle, natural gas, nickel, silver, soybeans, soybean meal, soybean oil, sugar, unleaded gasoline, wheat, and zinc. Although the Subsidiary generally holds the components of the Benchmark, the Fund is not an “index tracking” ETF and instead seeks to exceed the performance of the Benchmark. Therefore, the Subsidiary may not invest in all of the Benchmark’s components or in the same proportion as the Benchmark. At times, it also may invest in Commodities Futures outside the Benchmark and emphasize some commodity sectors more than others. The Adviser employs a rules-based investment approach when selecting futures contracts for the Subsidiary so that the weight of the futures contracts in the Subsidiary’s portfolio reflects the Adviser’s view of the economic significance and market liquidity of the corresponding, underlying commodities. The Adviser may select Commodities Futures with expirations beyond those contained in the Benchmark, and will limit the Fund’s indirect economic exposure to any single commodity to no more than 15% of the Fund’s assets, and to any sector to no more than 33% of the Fund’s assets.The Subsidiary also invests a portion of its assets in Commodity-Linked Instruments to seek to increase its investment returns or hedge against declines in the value of its other investments. Although the Fund does not seek leveraged returns, investing in Commodity-Linked Instruments may have a leveraging effect on the Fund. The Commodity-Linked Instruments may be exchange-traded or traded over-the-counter (“OTC”).The Fund (and the Subsidiary) may invest directly in Commodity-Related Assets. Such investments include the Invesco DB Commodity Index Tracking Fund (the “Commodity Pool”), a commodity pool that seeks to track the performance of the Benchmark. The Fund will limit its investments in the Commodity Pool and other pools so that no single pool represents more than 25% of the Fund’s total assets. The Fund also may invest directly in ETNs, ETFs and other investment companies (including U.S. registered open-end investment companies (i.e., mutual funds), closed-end investment companies traded on U.S. exchanges, or exchange-traded non-U.S. investment companies traded on foreign exchanges), to the extent permitted by the Investment Company Act of 1940, as amended (the “1940 Act”), and certain exemptive relief therefrom. In addition, the Fund may invest in exchange-traded common stocks of companies that operate in commodities, natural resources and energy businesses, and in associated businesses, as well as companies that provide services or have exposure to such businesses.The Fund (and the Subsidiary, as applicable) invests its remaining assets directly in Collateral, which consists of high-quality securities such as U.S. Treasuries, other U.S. Government obligations, money market funds, cash and cash-like equivalents (e.g., high quality commercial paper and similar instruments that are rated investment grade or, if unrated, of comparable quality as the Adviser may determine) that provide liquidity, serve as margin or collateralize the Subsidiary’s investments in Commodities Futures and Commodity-Linked Instruments.The Fund is “non-diversified” and therefore is not required to meet certain diversification requirements under the Investment Company Act of 1940, as amended (the “1940 Act”).
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CMDY - Performance

Return Ranking - Trailing

Period CMDY Return Category Return Low Category Return High Rank in Category (%)
YTD 6.4% -19.2% 22.7% 55.30%
1 Yr 7.5% -34.7% 26.4% 72.73%
3 Yr 4.6%* -32.0% 288.9% 63.85%
5 Yr 8.3%* -23.4% 136.3% 65.87%
10 Yr N/A* -25.7% 45.7% 31.09%

* Annualized

Return Ranking - Calendar

Period CMDY Return Category Return Low Category Return High Rank in Category (%)
2023 -13.7% -64.0% 30.1% 92.42%
2022 10.2% -40.8% 2475.6% 19.85%
2021 8.6% -23.3% 106.7% 46.92%
2020 1.0% -71.9% 295.5% 44.88%
2019 2.6% -31.8% 53.9% 82.54%

Total Return Ranking - Trailing

Period CMDY Return Category Return Low Category Return High Rank in Category (%)
YTD 6.4% -19.2% 22.7% 55.30%
1 Yr 7.5% -34.7% 26.4% 72.73%
3 Yr 4.6%* -32.0% 288.9% 63.85%
5 Yr 8.3%* -23.4% 136.3% 65.87%
10 Yr N/A* -25.7% 45.7% N/A

* Annualized

Total Return Ranking - Calendar

Period CMDY Return Category Return Low Category Return High Rank in Category (%)
2023 -9.3% -64.0% 41.1% 88.64%
2022 14.5% -15.1% 5648.8% 45.80%
2021 26.4% -23.3% 188.1% 70.00%
2020 1.2% -67.8% 296.1% 45.67%
2019 4.9% -31.8% 53.9% 78.57%

CMDY - Holdings

Concentration Analysis

CMDY Category Low Category High CMDY % Rank
Net Assets 224 M 2.34 M 62.8 B 60.25%
Number of Holdings 67 1 1056 44.70%
Net Assets in Top 10 84.2 M 2.66 M 63.2 B 78.03%
Weighting of Top 10 32.94% 21.1% 160.7% 92.97%

Top 10 Holdings

  1. United States Treasury Bills 0% 8.46%
  2. BlackRock Cash Funds Treasury SL Agency 8.07%
  3. United States Treasury Bills 0% 7.13%
  4. United States Treasury Bills 0% 6.40%
  5. United States Treasury Bills 0% 5.83%
  6. United States Treasury Bills 0% 5.50%
  7. United States Treasury Bills 0% 5.43%
  8. United States Treasury Bills 0% 5.27%
  9. United States Treasury Bills 0% 5.04%
  10. United States Treasury Bills 0% 4.79%

Asset Allocation

Weighting Return Low Return High CMDY % Rank
Cash
66.82% 0.00% 100.00% 19.23%
Bonds
33.42% 0.00% 114.44% 49.24%
Convertible Bonds
2.83% 0.00% 3.89% 1.55%
Stocks
0.00% 0.00% 49.98% 60.61%
Preferred Stocks
0.00% 0.00% 0.07% 49.23%
Other
-0.24% -3.38% 100.00% 93.08%

Bond Sector Breakdown

Weighting Return Low Return High CMDY % Rank
Cash & Equivalents
59.01% 0.00% 100.00% 41.03%
Corporate
2.82% 0.00% 42.72% 31.03%
Securitized
0.00% 0.00% 36.61% 61.21%
Municipal
0.00% 0.00% 1.45% 50.86%
Government
0.00% 0.00% 100.00% 93.10%
Derivative
-0.24% -3.38% 100.00% 92.31%

Bond Geographic Breakdown

Weighting Return Low Return High CMDY % Rank
US
33.42% 0.00% 102.17% 46.15%
Non US
0.00% 0.00% 16.01% 51.54%

CMDY - Expenses

Operational Fees

CMDY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.69% 0.21% 4.07% 88.35%
Management Fee 0.59% 0.00% 1.75% 38.51%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.45% N/A

Sales Fees

CMDY 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

CMDY 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.

CMDY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 162.00% 17.39%

CMDY - Distributions

Dividend Yield Analysis

CMDY Category Low Category High CMDY % Rank
Dividend Yield 4.79% 0.00% 19.94% 11.18%

Dividend Distribution Analysis

CMDY Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Monthly Annually

Net Income Ratio Analysis

CMDY Category Low Category High CMDY % Rank
Net Income Ratio -0.16% -55.71% 52.26% 33.33%

Capital Gain Distribution Analysis

CMDY Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

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CMDY - Fund Manager Analysis

Managers

Greg Savage


Start Date

Tenure

Tenure Rank

Apr 03, 2018

4.16

4.2%

Greg Savage, Managing Director; has been associated with BlackRock Fund Advisors since 2009. Mr. Savage has been a senior portfolio manager for BFA and BTC since 2009. Prior to his employment with BFA and BTC, Mr. Savage was a senior portfolio manager from 2006 to 2009 for BGFA and BGI and a portfolio manager from 2001 to 2006 for BGFA and BGI.

Richard Mejzak


Start Date

Tenure

Tenure Rank

Apr 03, 2018

4.16

4.2%

Richard Mejzak has been with BlackRock since 1990, including his years with Merrill Lynch Investment Managers, which was acquired by BlackRock in 2006. Mr. Mejzak became a portfolio manager for BlackRock Fund Advisors in 2012.

Amy Whitelaw


Start Date

Tenure

Tenure Rank

Mar 01, 2019

3.25

3.3%

Amy Whitelaw is Managing Director of BlackRock, Inc. since 2013 and was Director of the firm from 2009 to 2012. Ms. Whitelaw's service with the firm dates back to 1998, including her years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Ms. Whitelaw served as Principal of BGI from 2000 to 2009. Previously Ms. Whitelaw worked in the Transition Services group as a transition manager and strategist, and was also an international equity trader on BGI’s trading desk.

Paul Whitehead


Start Date

Tenure

Tenure Rank

Jan 01, 2022

0.41

0.4%

Paul Whitehead is responsible for supporting the day-to-day management of the MML Blend Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund. Mr. Whitehead is a Managing Director of BlackRock, Inc., Co-Head of Index Equity, and Co-Head of BlackRock’s ETF and Index Investments business. Mr. Whitehead also oversees the management of BlackRock’s Institutional and iShares funds. Mr. Whitehead was previously the Global Head of Equity Trading and the Global Head of Transition Management within BlackRock’s Global Trading Group. Mr. Whitehead’s service with the firm dates back to 1996, including his years with Barclays Global Investors, which merged with BlackRock in 2009. Prior to his current role, Mr. Whitehead was Head of Americas Equity Trading. Previously, he managed the trading team responsible for all Institutional Index funds, Exchange Traded funds, and Transition Management mandates. Mr. Whitehead represents BlackRock on the board of Luminex, a buy-side owned Alternative Trading System launched in 2015.

Tenure Analysis

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