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iShares GSCI Commodity Dynamic Roll Strategy ETF
ETF
COMT
Payout Change
Pending
Price as of:
$26.03
+0.03
+0.12%
primary theme
Commodity
COMT (ETF)
iShares GSCI Commodity Dynamic Roll Strategy ETF
Payout Change
Pending
Price as of:
$26.03
+0.03
+0.12%
primary theme
Commodity
COMT (ETF)
iShares GSCI Commodity Dynamic Roll Strategy ETF
Payout Change
Pending
Price as of:
$26.03
+0.03
+0.12%
primary theme
Commodity
Name
As of 11/29/2024Price
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
3.8%
1 yr return
1.7%
3 Yr Avg Return
7.7%
5 Yr Avg Return
6.3%
Net Assets
$723 M
Holdings in Top 10
22.6%
52 WEEK LOW AND HIGH
$26.0
$24.59
$27.90
Expenses
OPERATING FEES
Expense Ratio 0.49%
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 11/29/2024Price
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
COMT - Profile
Distributions
- YTD Total Return 3.8%
- 3 Yr Annualized Total Return 7.7%
- 5 Yr Annualized Total Return 6.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -0.38%
- Dividend Yield 5.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameiShares GSCI Commodity Dynamic Roll Strategy ETF
-
Fund Family NameBlackRock-advised Funds
-
Inception DateOct 15, 2014
-
Shares Outstanding66900000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGreg Savage
Fund Description
The Fund seeks to track the investment results of the S&P GSCI Dynamic Roll
(USD) Total Return Index (the “Underlying Index”), which measures the performance of futures contracts such as aluminum, Brent crude oil, cocoa, coffee, copper, corn, cotton, gas oil, feeder cattle, gold, heating oil, lean hogs, lead, live cattle, natural gas, nickel, silver, soybeans, sugar, unleaded gasoline, wheat, West Texas Intermediate crude oil and zinc. The Underlying Index is rebalanced on an annual basis.
In seeking to achieve its investment objective, the Fund will invest in a combination of exchange-traded commodity futures contracts, exchange-traded options on commodity-related futures contracts and exchange-cleared commodity related swaps (together, “Commodity-Linked Investments”), thereby obtaining exposure to the
commodities markets. Commodity-Linked Investments may also include exchange-cleared swaps on commodities and exchange-traded options on futures that provide exposure to the investment returns of the commodities markets, without investing directly in physical commodities. Investing in Commodity-Linked Investments may have a leveraging effect on the Fund.
The Fund also seeks to generate interest income and capital appreciation on the cash balances arising from its investment in Commodity-Linked Investments through a cash management strategy consisting primarily of investments in short-term, investment-grade fixed-income securities that include U.S. government and agency securities, treasury inflation-protected securities, sovereign debt obligations of non-U.S. countries, and repurchase agreements, money market instruments and cash and other cash equivalents (collectively, “Fixed-Income Investments”). The Fund uses Fixed-Income Investments as investments and to provide sufficient assets to account for (or “cover”) mark-to-market changes and to collateralize the Subsidiary's (as defined below) Commodity-Linked Investments exposure on a day-to-day basis. As of October 31, 2023, the Underlying Index was comprised of 24 components.
BFA uses an indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “beat” the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued.
Indexing may eliminate the chance that the Fund will substantially outperform the Underlying Index but also may reduce some of the risks of active management, such as poor selection of securities and/or other instruments. Indexing seeks to achieve lower costs and better after-tax performance by aiming to keep portfolio turnover low in comparison to actively managed investment companies.
BFA uses a representative sampling indexing strategy to manage the Fund. “Representative sampling” is an indexing strategy that involves investing in a representative sample of securities and/or other instruments that collectively has an investment profile similar to that of an applicable underlying index. The securities and/or other instruments selected are expected to have, in the aggregate, investment characteristics (based on factors such as market value and industry weightings), fundamental characteristics (such as return variability, duration, maturity, credit ratings and yield) and liquidity measures similar to those of an applicable underlying index. The Fund may or may not hold all of the securities and/or other instruments in the Underlying Index.
The Fund will seek to gain exposure to Commodity-Linked Investments by investing through a wholly-owned subsidiary organized in the Cayman Islands (the “Subsidiary”). The Subsidiary is advised by BFA and has the same investment objective as the Fund. Unlike the Fund, the Subsidiary is not an investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). The
Subsidiary will invest solely in Commodity-Linked Investments and cash.
In compliance with Subchapter M of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), the Fund may invest up to 25% of its total assets in the Subsidiary. The Fund’s Commodity-Linked Investments held in the Subsidiary are intended to provide the Fund with exposure to commodity markets within the limits of current U.S. federal income tax laws applicable to investment companies such as the Fund, which limit the ability of investment companies to invest directly in Commodity-Linked Investments.
The remainder of the Fund’s assets will be invested directly by the Fund, primarily in Fixed-Income Investments.
The Fund or the Subsidiary may from time to time invest in other exchange-traded funds (“ETFs”), exchange-traded notes or commodity-linked notes.
The Commodity Futures Trading Commission (“CFTC”) has adopted certain requirements that subject registered investment companies and their advisers to regulation by the CFTC if a registered investment company invests more than a prescribed level of its net asset value (“NAV”) in CFTC-regulated futures, options and swaps, or if a registered investment company markets itself as providing investment exposure to such instruments. Due to the Fund's potential use of CFTC-regulated futures, options and swaps above the prescribed levels, it is considered a “commodity pool” under the Commodity Exchange Act (“CEA”).
The Underlying Index is sponsored by S&P Dow Jones Indices LLC (the “Index Provider”), which is independent of the
Fund and BFA. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index.
Industry Concentration Policy. The Fund will concentrate its investments i.e., hold 25% or more of its total assets) in (i) equity securities issued by commodity-related companies, derivatives with exposure to commodity-related companies or investments in securities and derivatives linked to the underlying price movement of commodities, including but not limited to commodity-linked derivatives such as commodity-linked notes, commodity futures, forward contracts and swaps and other similar derivative instruments and investment vehicles that invest in commodities, or commodity-linked derivatives, and (ii) the industry or group of industries that constitutes the energy sector. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry.
COMT - Performance
Return Ranking - Trailing
| Period | COMT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.8% | -28.8% | 29.0% | 69.29% |
| 1 Yr | 1.7% | -33.8% | 28.3% | 70.08% |
| 3 Yr | 7.7%* | -36.2% | 280.5% | 33.60% |
| 5 Yr | 6.3%* | -27.4% | 134.3% | 81.97% |
| 10 Yr | 1.2%* | -26.8% | 47.8% | 55.68% |
* Annualized
Return Ranking - Calendar
| Period | COMT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -11.1% | -64.0% | 30.1% | 67.72% |
| 2022 | -8.7% | -40.8% | 2475.6% | 67.46% |
| 2021 | 15.8% | -23.3% | 106.7% | 32.00% |
| 2020 | -19.0% | -71.9% | 295.5% | 84.43% |
| 2019 | 7.9% | -31.8% | 53.9% | 36.36% |
Total Return Ranking - Trailing
| Period | COMT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.8% | -28.8% | 29.0% | 69.29% |
| 1 Yr | 1.7% | -33.8% | 28.3% | 70.08% |
| 3 Yr | 7.7%* | -36.2% | 280.5% | 33.60% |
| 5 Yr | 6.3%* | -27.4% | 134.3% | 81.97% |
| 10 Yr | 1.2%* | -26.8% | 47.8% | 55.68% |
* Annualized
Total Return Ranking - Calendar
| Period | COMT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -6.5% | -64.0% | 41.1% | 58.27% |
| 2022 | 18.9% | -15.1% | 5648.8% | 26.19% |
| 2021 | 36.9% | -23.3% | 188.1% | 20.80% |
| 2020 | -18.7% | -67.8% | 296.1% | 85.25% |
| 2019 | 10.8% | -31.8% | 53.9% | 47.11% |
COMT - Holdings
Concentration Analysis
| COMT | Category Low | Category High | COMT % Rank | |
|---|---|---|---|---|
| Net Assets | 723 M | 2.34 M | 27.6 B | 42.95% |
| Number of Holdings | 158 | 1 | 968 | 33.07% |
| Net Assets in Top 10 | 217 M | 2.66 M | 30.7 B | 70.08% |
| Weighting of Top 10 | 22.63% | 20.9% | 172.5% | 99.19% |
Top 10 Holdings
- BlackRock Cash Funds: Treasury, SL Agency Shares 9.95%
- U.S. Treasury Bills 2.01%
- U.S. Treasury Bills 1.67%
- U.S. Treasury Bills 1.66%
- U.S. Treasury Bills 1.47%
- U.S. Treasury Bills 1.45%
- Bell Telephone Co of Canada or Bell Canada/The 1.15%
- PPG Industries Inc 1.09%
- Bayerische Landesbank/New York 1.09%
- PACCAR Financial Corp 1.09%
Asset Allocation
| Weighting | Return Low | Return High | COMT % Rank | |
|---|---|---|---|---|
| Cash | 84.84% | 0.00% | 100.00% | 16.80% |
| Bonds | 18.12% | 0.00% | 109.63% | 55.91% |
| Convertible Bonds | 1.01% | 0.00% | 3.89% | 18.55% |
| Stocks | 0.00% | 0.00% | 57.05% | 63.78% |
| Preferred Stocks | 0.00% | 0.00% | 0.11% | 52.00% |
| Other | -2.96% | -7.17% | 100.03% | 94.40% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | COMT % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 74.54% | 0.00% | 100.00% | 31.86% |
| Corporate | 2.63% | 0.00% | 42.72% | 30.36% |
| Securitized | 0.00% | 0.00% | 19.62% | 62.50% |
| Municipal | 0.00% | 0.00% | 1.45% | 51.79% |
| Government | 0.00% | 0.00% | 100.00% | 93.75% |
| Derivative | -2.96% | -7.17% | 100.03% | 85.84% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | COMT % Rank | |
|---|---|---|---|---|
| US | 18.12% | 0.00% | 95.25% | 56.80% |
| Non US | 0.00% | 0.00% | 14.38% | 54.40% |
COMT - Expenses
Operational Fees
| COMT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.49% | 0.21% | 5.23% | 92.93% |
| Management Fee | 0.48% | 0.00% | 1.75% | 25.00% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.05% | 0.45% | N/A |
Sales Fees
| COMT 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
| COMT 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.
| COMT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 0.00% | 0.00% | 162.00% | 18.39% |
COMT - Distributions
Dividend Yield Analysis
| COMT | Category Low | Category High | COMT % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.00% | 0.00% | 19.94% | 11.54% |
Dividend Distribution Analysis
| COMT | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Quarterly | Annual |
Net Income Ratio Analysis
| COMT | Category Low | Category High | COMT % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.38% | -55.71% | 52.26% | 44.35% |
Capital Gain Distribution Analysis
| COMT | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 20, 2023 | $1.302 | OrdinaryDividend |
| Dec 13, 2022 | $8.398 | OrdinaryDividend |
| Dec 13, 2021 | $5.494 | OrdinaryDividend |
| Dec 14, 2020 | $0.096 | OrdinaryDividend |
| Dec 16, 2019 | $0.858 | OrdinaryDividend |
| Dec 18, 2018 | $3.104 | OrdinaryDividend |
| Sep 26, 2018 | $0.209 | OrdinaryDividend |
| Jun 26, 2018 | $0.129 | OrdinaryDividend |
| Mar 22, 2018 | $0.111 | OrdinaryDividend |
| Dec 21, 2017 | $1.596 | OrdinaryDividend |
| Sep 26, 2017 | $0.113 | OrdinaryDividend |
| Jun 27, 2017 | $0.076 | OrdinaryDividend |
| Mar 24, 2017 | $0.090 | OrdinaryDividend |
| Dec 28, 2016 | $0.197 | ExtraDividend |
| Dec 22, 2016 | $0.029 | OrdinaryDividend |
| Sep 26, 2016 | $0.044 | OrdinaryDividend |
| Jun 21, 2016 | $0.026 | OrdinaryDividend |
| Mar 23, 2016 | $0.060 | OrdinaryDividend |
| Dec 24, 2015 | $0.015 | OrdinaryDividend |
| Sep 25, 2015 | $0.137 | OrdinaryDividend |
| Jun 24, 2015 | $0.221 | OrdinaryDividend |
| Mar 25, 2015 | $0.036 | OrdinaryDividend |
| Dec 24, 2014 | $0.230 | OrdinaryDividend |
COMT - Fund Manager Analysis
Managers
Greg Savage
Start Date
Tenure
Tenure Rank
Oct 15, 2014
7.63
7.6%
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
Oct 26, 2016
5.6
5.6%
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
Dec 31, 2018
3.42
3.4%
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.
Tim Parsons
Start Date
Tenure
Tenure Rank
Dec 31, 2019
2.42
2.4%
Tim Parsons has been with BlackRock since 2007, including his time with Barclays Global Investors, which merged with BlackRock in 2009. Mr. Parsons has been employed by BlackRock Fund Advisors or its affiliates as a portfolio manager since 2016.
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 | 6.2 | 11.51 |
