COM
NAV (Net Asset Value)$27.81As of Feb 20, 2024
1 Day NAV change$-0.11(-0.38%)As of Feb 20, 2024
Overall Morningstar Rating
4 out of 5 stars
Overall Morningstar RatingTM out of 100 US Fund Commodities Broad Basket funds based on risk adjusted returns as of 12/31/2023†.
Operational Updates
- 01/30/2024
2023 Year End COMmodity Recap
Read Full Article - 01/23/2024
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Documents & Downloads
- COM Fact Sheet (pdf)
- COM Brochure (pdf)
- COM Methodology (pdf)
- Direxion ETFs List (pdf)
- Prospectus
- Daily Fund Holdings (csv)
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.
Why Consider Long/Flat Commodities?
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 | Long |
| Silver | Long |
| Agriculture | |
| Soybeans | Flat |
| Corn | Flat |
| Wheat | Flat |
| Cotton | Long |
| Sugar | Flat |
| Energy | |
| Crude Oil | Flat |
| Natural Gas | Flat |
| Gasoline | Flat |
| Heating Oil | Long |
All data as of 02/16/2024 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.
Pricing & Performance
NAV and Market Price information as of 02/20/2024.
COM
Direxion Auspice Broad Commodity Strategy ETF
Net Asset Value (NAV)
$27.81Nav
$-0.11Change
-0.38%Change
Market Price Closing
$27.78Market
$-0.14Change
-0.50%Change
Premium / Discount
$-0.03Change from Last Day Trading
Premium/Discount tool
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| 1M | 3M | YTD | 1Y | 3Y | 5Y | 10Y | Since Inception | Expense Ratio* (Gross / Net%) | Inception Date | |
|---|---|---|---|---|---|---|---|---|---|---|
| COM NAV | 1M 0.40 | 3M -3.62 | YTD 0.40 | 1Y -4.70 | 3Y 10.15 | 5Y 7.49 | 10Y — | Since 5.42 | Expense Ratio* 0.81 / 0.81* | Inception 03/30/2017 |
| COM Market Close | 1M 0.22 | 3M -3.88 | YTD 0.22 | 1Y -4.92 | 3Y 10.27 | 5Y 7.47 | 10Y — | Since 5.40 | Expense Ratio* 0.81 / 0.81* | Inception 03/30/2017 |
As of January 31, 2024
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.
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate. An investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized. For the most recent month-end performance please visit the funds website at www.direxioninvestments.com.
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.
Index Information
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 invest directly in an index.
View Daily Fund Holdings
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 |
| 2023 | -6.02 | -9.11 | -12.58 | -10.10 |
Data Range: 01/01/2011 – 12/31/2023.
| Annualized Return1 | 1.52 | -3.02 | -2.58 | -0.10 |
| Total Return | 22.03 | -33.24 | -29.10 | -1.37 |
| Annualized Std. Deviation2 | 8.84 | 21.56 | 14.56 | 17.53 |
| Max Drawdown | -43.08% | -79.62% | -66.09% | -64.99% |
Date Range: 01/01/2010 – 12/31/2023
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.
Distributions
| Record Date | Ex Date | Pay Date | Income Dividend | Short-Term Capital Gain | Long-Term Capital Gain |
|---|---|---|---|---|---|
| 12/22/2023 | 12/21/2023 | 12/29/2023 | 0.19525 | — | — |
| 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 | — | — |
Record Date12/22/2023 Ex Date12/21/2023 Pay Date12/29/2023 Income Dividend0.19525 Short-Term Capital Gain— Long-Term Capital Gain— Record Date09/20/2023 Ex Date09/19/2023 Pay Date09/26/2023 Income Dividend0.31414 Short-Term Capital Gain— Long-Term Capital Gain— Record Date06/22/2023 Ex Date06/21/2023 Pay Date06/28/2023 Income Dividend0.54710 Short-Term Capital Gain— Long-Term Capital Gain— Record Date12/21/2022 Ex Date12/20/2022 Pay Date12/28/2022 Income Dividend0.86080 Short-Term Capital Gain— Long-Term Capital Gain— Record Date06/23/2022 Ex Date06/22/2022 Pay Date06/29/2022 Income Dividend1.16408 Short-Term Capital Gain— Long-Term Capital Gain— Record Date03/23/2022 Ex Date03/22/2022 Pay Date03/29/2022 Income Dividend0.50349 Short-Term Capital Gain— Long-Term Capital Gain— | |||||
Documents
Fund Documents
- COM Fact Sheet (pdf)
- COM Brochure (pdf)
- COM Methodology (pdf)
- Direxion ETFs List (pdf)
- Prospectus
- Daily Fund Holdings (csv)
Tax Documents
Download the following Tax Reporting Documents
Form 8937
- (2023)
- (2020)
How to Buy
ETFs are generally available for purchase on exchanges, much like stocks—and can be bought and sold throughout the trading day whenever exchanges are open. Direxion ETFs cannot be purchased directly from Direxion, but are available for trading on most trading platforms.
We strongly recommend that you take the time to educate yourself on how leveraged and inverse ETFs function and behave in various market conditions before you endeavor to trade them in your account. It’s always a good idea to consult a financial advisor or brokerage account representative if you have questions about any ETFs.
Please note, your advisor or broker may charge commissions or other transaction fees.If you have any questions specific to Direxion products, please contact us direct at [emailprotected] or 866-476-7523.
