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Xtrackers Bloomberg Commodity Swap UCITS ETF 2c Eur Hedged tracks the issuer-declared index: Bloomberg Commodity Index Total Return 3 Month Forward (USD). Mind the share class: this is the version hedged to EUR — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.24%, plus 0.00% in transaction costs estimated by the issuer in the KID. Replication is synthetic replication via a swap contract, as the KID declares; income is accumulated and reinvested in the fund. The fund has assets of about 636 million euro, was launched on 9 July 2009 and is domiciled in Luxembourg. In our registry it is the largest by assets among the 2 ETFs declaring the same index.
The fund is passively managed.
INVESTMENT OBJECTIVE:The aim is for your investment to reflect the performance of Bloomberg Commodity Index Total Return 3 Month Forward (index), while seeking to minimise foreign currency fluctuations at share class level.
DESCRIPTION OF INDEX:The index is designed to be a highly liquid and diversified benchmark for longer dated commodity investments and represents the returns of a diversified basket of commodity futures.
Keep reading the KID section ▾
Twenty-five commodities are eligible for inclusion in the index. Each designated commodity future contract, which is eligible for the index, is weighted based on the following relative figures: (i) commodity production percentage (based on the average U.S. dollar-adjusted value of production, which measures the economic significance of the commodity), and (ii) commodity liquidity percentage (based on the average volume of trading). Among the designated commodity future contracts selected for inclusion, weighting limits both at single commodity and commodity group level are applied annually. Single commodities must have a minimum weight of 2% in the index and are capped at 15%. Single commodities together with their derivatives (e.g., West Texas Intermediate (WTI) crude oil and Brent crude oil, together with ULS diesel and unleaded gas), are capped at 25% of the index. Related groups of commodities (e.g., energy, precious metals, livestock or grains) are capped at 33% of the index. The composition of the index is reweighted and rebalanced annually. Between rebalancings, weightings may fluctuate to levels outside the above limits.
INDEX REBALANCING, CALCULATION AND ADMINISTRATION:The index is calculated on a total return net basis which means that all dividends and distributions by the companies are reinvested in the shares after tax.
INVESTMENT POLICY:To achieve the aim, the fund will i) invest in transferable securities and enter into financial contracts (derivatives) with one or more swap counterparties relating to transferable securities and the index, in order to obtain the return on the index, and ii) enter into financial contracts (derivatives) which attempt to reduce the effect of exchange rate fluctuations between the currency of the index components and the currency of your shares. The fund may employ techniques and instruments in order to manage risk, reduce costs and improve results. These techniques and instruments may include the use of financial contracts (derivatives). FURTHER INFORMATION: Certain information (including the latest share prices of the fund, indicative net asset values, full disclosure on the composition of the fund's portfolio and information on the index constituents) are available on your local DWS website or at www.Xtrackers.com. Transaction costs and taxes, unexpected fund costs and market conditions such as volatility or liquidity issues may affect the ability of the fund to track the index. The anticipated level of tracking error in normal market conditions is 1 per cent. The currency of the fund is USD. Returns and gains are not distributed but are reinvested in the fund. You may request the redemption of shares generally on a daily basis.
| From the peak of | Trough | Depth | Back to break-even | Days underwater |
|---|---|---|---|---|
| 29 Apr 2011 | 18 Mar 2020 | -68.65% | ongoing | 5,611 |
| 06 Jan 2010 | 04 Jun 2010 | -15.60% | 02 Nov 2010 | 300 |
| 09 Nov 2010 | 16 Nov 2010 | -8.35% | 21 Dec 2010 | 42 |
| 05 Aug 2009 | 25 Sept 2009 | -7.14% | 16 Oct 2009 | 72 |
| 04 Mar 2011 | 15 Mar 2011 | -6.22% | 24 Mar 2011 | 20 |
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | Year | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.7 | 2.2 | 4.9 | 4.2 | -1.3 | -7.8 | 5.3 | 7.0 | 1.2 | 24.8 | |||
| 2025 | 4.1 | 0.5 | 3.8 | -5.1 | -0.1 | 2.2 | -0.8 | 1.9 | 1.8 | 2.4 | 2.3 | 0.5 | 13.9 |
| 2024 | -0.0 | -1.3 | 3.9 | 2.9 | 1.8 | -2.1 | -3.3 | -0.4 | 4.4 | -1.7 | -0.0 | 0.6 | 4.5 |
| 2023 | 0.1 | -4.5 | -0.4 | -1.1 | -5.8 | 2.9 | 5.4 | -0.8 | -1.6 | 0.4 | -1.5 | -2.5 | -9.5 |
| 2022 | 7.2 | 5.8 | 9.3 | 4.5 | 1.6 | -11.3 | 4.4 | -0.0 | -8.1 | 1.6 | 3.3 | -1.1 | 16.2 |
| 2021 | 1.8 | 6.4 | -1.7 | 7.0 | 3.3 | 2.5 | 2.0 | 0.0 | 4.6 | 2.4 | -5.4 | 4.6 | 30.5 |
| 2020 | -7.5 | -5.5 | -10.3 | -0.7 | 4.1 | 2.6 | 5.9 | 4.3 | -2.5 | -0.3 | 4.6 | 4.8 | -2.1 |
| 2019 | 4.9 | 0.8 | -1.2 | -1.2 | -3.1 | 2.1 | -1.0 | -2.7 | 0.3 | 1.6 | -2.1 | 4.8 | 2.8 |
| 2018 | 2.3 | -2.0 | -0.4 | 1.8 | 1.7 | -3.9 | -2.2 | -2.2 | 1.7 | -3.1 | -4.8 | -2.6 | -13.1 |
| 2017 | 0.8 | 0.5 | -2.6 | -1.3 | -1.6 | -0.6 | 1.9 | 0.2 | -0.2 | 2.8 | -0.7 | 2.0 | 1.2 |
| 2016 | -1.1 | -1.1 | 3.3 | 7.3 | -0.4 | 4.6 | -4.4 | -2.0 | 2.6 | -0.0 | 1.4 | 1.0 | 11.3 |
| 2015 | -3.7 | 2.3 | -4.9 | 4.1 | -3.2 | 1.7 | -10.4 | -0.9 | -3.3 | 0.1 | -6.4 | -2.8 | -25.0 |
| 2014 | -1.4 | 5.9 | 0.1 | 2.2 | -2.9 | 1.0 | -4.6 | -0.9 | -6.9 | -0.8 | -4.8 | -6.7 | -18.8 |
| 2013 | 1.5 | -4.8 | 0.6 | -2.5 | -2.1 | -5.3 | 0.7 | 3.3 | -2.2 | -0.9 | -1.2 | 0.3 | -12.4 |
| 2012 | 3.1 | 2.6 | -4.0 | -1.0 | -9.0 | 4.3 | 5.6 | 1.6 | 1.0 | -3.4 | 0.5 | -2.1 | -1.7 |
| 2011 | 1.6 | 2.1 | 2.5 | 3.7 | -4.9 | -4.5 | 2.8 | 1.2 | -15.5 | 5.8 | -2.2 | -3.5 | -12.1 |
| 2010 | -7.0 | 3.6 | -1.0 | 2.5 | -7.6 | -0.9 | 5.7 | -2.2 | 6.6 | 5.0 | -0.5 | 9.6 | 12.9 |
| 2009 | 0.6 | 0.1 | 3.6 | 4.6 | 1.0 | 20.8 |
We do not publish a tracking difference for this share class — and it is not an oversight.
this share class is hedged to EUR; the index the issuer places next to it in its documents is the unhedged, foreign-currency version. Subtracting one from the other does not measure replication quality: it measures the exchange rate. In a year when the currency moves 5%, “the TD” would come out near 5 points — a plausible-looking number, with decimals, and wrong.
Other sites publish that number. We would rather show one figure less than one figure wrong: the TD will return here the day we have the EUR-hedged index series, which the issuer does not publish today.
| Last year | Last 3 years | Last 5 years | Last 10 years | Full history | |
|---|---|---|---|---|---|
| Volatility (ann.) | 14.54% | 12.48% | 14.99% | 13.39% | 13.85% |
| Max drawdown | -12.44% | -12.44% | -25.55% | -36.08% | -68.65% |
| Sharpe | 1.87 | 0.69 | 0.57 | 0.44 | 0.10 |
| Sortino | 2.70 | 0.96 | 0.79 | 0.59 | 0.13 |
| Fund | TER | Income | Fund size |
|---|---|---|---|
Xtrackersnot on Borsa Italiana | 0.12% | Acc. | 636 mln EUR |
| Exchange | Ticker | Trading since |
|---|---|---|
| Börse Düsseldorf | — | 17 Feb 2012 |
| Börse Frankfurt | — | 23 May 2011 |
| Börse Hamburg | — | 4 Oct 2010 |
| Börse Hannover | — | 28 Dec 2022 |
| Börse München / gettex | — | 4 Jul 2014 |
| Börse Stuttgart | — | 24 Jul 2009 |
| Tradegate Exchange | — | 24 Mar 2011 |
| Xetra (Deutsche Börse) | XCBE | 24 Jul 2009 |