Citywire Selection Verdict: This ETN invests across the commodity spectrum using rolling futures contracts to gain access to energy (35.4%), agriculture (27.7%), industrial metals (15.6%), precious metals (11.6%) and livestock (5.4%). The top three holdings in Natural Gas, WTI Crude oil and Gold account for nearly one-third of the portfolio. Given its weighting to industrial metals and their lacklustre performance the fund has made a loss of 5.3%. In the extreme event of this ETF provider defaulting, investors would be able to lay claim to AAA rated bonds which serve as collateral.
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