About CMCAX
VanEck Constant Maturity Commodity Index Fund Class A is a passively managed mutual fund focused on providing broad-based exposure to the commodities market. Its primary objective is to track, before fees and expenses, the performance of the UBS Constant Maturity Commodity Total Return Index. This benchmark is notable for its rules-based approach and its diversification across 29 commodity components in five major sectors: energy, agriculture, industrial metals, precious metals, and livestock. The fund achieves its tracking strategy mainly by investing in commodity-linked derivatives, complemented by more conservative fixed income securities such as U.S. Treasury bills.
A distinguishing feature of the fund’s approach is its allocation across multiple futures maturities, rather than concentrating at the front end of the futures curve. This design helps reduce the impact of contango and negative roll yield, challenges often faced in commodities investing. The fund's diversified sector exposure allows investors to participate in a wide array of commodity price movements while aiming for improved roll returns through its constant maturity methodology. With an inception date of December 31, 2010, and sizable assets under management, VanEck Constant Maturity Commodity Index Fund Class A plays a significant role for those seeking efficient, index-based access to physical commodities within a mutual fund structure.
Fund Family VanEck
Category Commodities Broad Basket
Performance Rating Average
Risk Rating Below Average
Stock Exchange Nasdaq
Ticker Symbol CMCAX
Share Class Class A
Index UBS Constant Maturity Commodity TR USD
CMCAX had a total return of 34.29% in the past year, including dividends. Since the fund's
inception, the average annual return has been 1.88%.
