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Xtrackers Bloomberg Commodity Swap UCITS ETF 1cIndex, costs, backtest, listings and taxation

ISIN: LU2278080713Issuer: Xtrackers
Issuer-declared data
Declared index
Bloomberg Commodity Index Total Return 3 Month Forward (USD)
TER
0.12%
Transaction costs
0.00% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics — inferred (issuer documents do not declare art. 8/9) what does it mean?
Fund assets
636 mln EUR
Domicile
Luxembourg
Inception date
3 November 2021
Data as declared by Xtrackers in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Xtrackers Bloomberg Commodity Swap UCITS ETF 1c tracks the issuer-declared index: Bloomberg Commodity Index Total Return 3 Month Forward (USD). The declared annual cost (TER) is 0.12%, 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 3 November 2021 and is domiciled in Luxembourg. In our registry it is the largest by assets among the 2 ETFs declaring the same index.

The fund’s objective — in the issuer’s words

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).

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. Twenty-five commodities are eligible for inclusion in the index.

Keep reading the KID section ▾

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 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. 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 KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.12%: below the median of commodity products we track (0.30%).
  • Average tracking difference over the last 3 years: -0.03% p.a., against a declared TER of 0.12%.
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Nov 2021 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+73.0%
Annualised
+12.0%
Volatility (ann.)
14.8%
Max drawdown
-21.95%
-8%+14%+35%+57%+78%Nov 2021Feb 2023Apr 2024Jul 2025Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+73%Nov 2021Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-5%-10%-15%-20%-25%-30%20222023202420252026−21.95% · 31 May 2023
Max drawdown
-21.95%
peak → trough
Trough
31 May 2023
from the 09 Jun 2022 peak
Recovery time
919 days
recovery only: trough to break-even · ≈ 2 years and 6 months
Underwater
1,275 days
decline + recovery: peak to break-even · ≈ 3 years and 6 months · → recovered on 05 Dec 2025

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
09 Jun 202231 May 2023-21.95%05 Dec 20251,275
12 May 202624 Jun 2026-12.07%31 Aug 2026111
08 Mar 202216 Mar 2022-7.37%12 Apr 202235
29 Jan 202602 Feb 2026-7.12%05 Mar 202635
25 Nov 202101 Dec 2021-6.84%11 Jan 202247

Calendar-year returns

2021
-0.4%
2022
19.4%
2023
-7.1%
2024
6.1%
2025
16.5%
2026
26.6%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20267.92.34.94.5-1.1-7.55.47.21.226.6
20254.20.64.0-4.90.12.3-0.52.12.12.62.40.716.5
20240.1-1.14.12.91.9-2.0-3.3-0.24.5-1.50.10.86.1
20230.4-4.2-0.2-0.9-5.63.25.7-0.7-1.40.5-1.4-2.3-7.1
20227.35.99.24.51.7-10.94.40.4-7.62.03.7-0.819.4
20214.7-0.4
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Source: Xtrackers. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 1 of the last 4 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.03% /anno
Declared TER
0.12%
YearFundIndexDifference
2025+16.47%+16.26%+0.21%
2024+6.14%+6.20%-0.06%
2023-7.12%-6.88%-0.24%
2022+19.43%+19.53%-0.10%
Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsFull history
Volatility (ann.)15.32%13.71%15.95%
Max drawdown-9.38%-14.59%-22.48%
Sharpe1.980.590.62
Sortino2.960.840.88
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.21%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
138
Top-10 weight
44.3%

Top 10 holdings

SEAGATE TECHNOLOGY HOLDINGS PLC
7.84%
MICROSOFT
6.97%
ACCENTURE PLC CLASS A
4.85%
VERIZON COMMUNICATIONS INC
4.46%
HONEYWELL INTERNATIONAL INC WHEN I
4.17%
CISCO SYSTEMS INC
3.44%
META PLATFORMS CLASS A
3.41%
AMAZON COM INC
3.25%
LAM RESEARCH
3.06%
WALMART INC
2.89%
Download the full portfolio — Excel, 138 rows
Full portfolio declared by Xtrackers, as of 2 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding. Synthetic replication: the list shows the substitute basket (securities held as swap collateral), which can differ substantially from the replicated index. The fund’s economic exposure is that of its declared index.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

ETFs declaring the same index

FundTERIncomeFund size
Xtrackersnot on Borsa Italiana
0.24%Acc.636 mln EUR
2 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

Stock exchange listings

ExchangeTickerTrading since
Börse DüsseldorfXCMC16 Nov 2021
Börse FrankfurtXCMC9 Nov 2021
Börse HamburgXCMC15 Dec 2021
Börse HannoverXCMC9 Dec 2024
Börse München / gettexXCMC9 Nov 2021
Börse StuttgartXCMC18 Nov 2021
Nasdaq Stockholm24 Jun 2026
Tradegate ExchangeXCMC13 Jan 2023
Xetra (Deutsche Börse)XCMC9 Nov 2021
+ 11 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Xtrackers Bloomberg Commodity Swap UCITS ETF 1c track?
The issuer Xtrackers declares the benchmark: Bloomberg Commodity Index Total Return 3 Month Forward (USD).
How much does Xtrackers Bloomberg Commodity Swap UCITS ETF 1c cost?
The issuer-declared TER is 0.12% per year; the transaction costs estimated in the KID are 0.00%.
What is the fund size of Xtrackers Bloomberg Commodity Swap UCITS ETF 1c?
The fund size declared by Xtrackers is about 636 million euro.
When was Xtrackers Bloomberg Commodity Swap UCITS ETF 1c launched?
The fund was launched on 3 November 2021: it has 4 years of history.
How does Xtrackers Bloomberg Commodity Swap UCITS ETF 1c replicate its index?
It is a passively managed ETF: it follows the declared index. Synthetic (swap) (issuer wording: “Sintetica - swap (dal KID)”).
Does Xtrackers Bloomberg Commodity Swap UCITS ETF 1c pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).
Where does Xtrackers Bloomberg Commodity Swap UCITS ETF 1c trade?
Per the official ESMA register it trades on 9 main exchanges, including Börse Düsseldorf (XCMC), Börse Frankfurt (XCMC), Börse Hamburg (XCMC), Börse Hannover (XCMC), Börse München / gettex (XCMC), Börse Stuttgart (XCMC).
What was Xtrackers Bloomberg Commodity Swap UCITS ETF 1c's worst fall?
Over the available history (since 2021), the maximum drawdown was -21.95%, reached in May 2023. Past performance is not indicative of future results.
What is Xtrackers Bloomberg Commodity Swap UCITS ETF 1c's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.03% per year versus its index (from issuer-declared series).
How many securities does Xtrackers Bloomberg Commodity Swap UCITS ETF 1c hold?
The declared portfolio holds 138 securities; the top 10 positions weigh 44.3%.
Transparency note
The data in this sheet is declared by Xtrackers in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.