Commodity ETFs Upping Their Game?
We keep regular tabs on a handful of long-only commodity ETFs, specifically how much these funds underperform the futures contracts for the same underlying commodity. But new ETF offerings are aiming to avoid some of the problems that have plagued such investments in the past. But the new approach is not without problems of its own.
Checking in on the Gundlach Spreads
Jeff Gundlach of Doubleline has been creating a stir with his big spread trade ideas lately. And while they definitely aren’t the traditional spread trade, some of his recent trading calls have turned out to be trends that managed futures can enjoy.
The VIX – Too Quiet?
Volatility remained fairly low throughout the run up to the fiscal cliff, but this week it plunged to a nearly 6-year low. Is this the calm before the storm, and if so, will it give way to a volatility spike that managed futures can capitalize on?
The Greener Grass of Ag Traders
We’ve talked a lot about the good performance of Agriculture Traders last year, and with the 2012 numbers nearly all in, we couldn’t help but compare the Ag numbers to the rest of the managed futures world. Ag traders have a performance profile all their own, as one look at the data makes clear.
Platinum Outshining Gold in the New Year
With gold falling throughout the end of 2012 and platinum spiking since the beginning of 2013, the change has been enough to bring the price of an ounce of gold below that of an ounce of platinum for the first time since April of last year. But we wanted to know how this fits in the bigger picture, and whether it means anything for the future of the two metals.
Disclaimers
Managed futures, commodity trading, forex trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. You should not rely on any of the information as a substitute for the exercise of your own skill and judgment in making such a decision on the appropriateness of such investments.
The entries on this blog are intended to further subscribers understanding, education, and – at times – enjoyment of the world of alternative investments. Unless distinctly noted otherwise, the data and graphs included herein are intended to be mere examples and exhibits of the topic discussed, are for educational and illustrative purposes only, and do not represent trading in actual accounts. Opinions expressed are that of the author.
The mention of specific asset class performance (i.e. +3.2%, -4.6%) is based on the noted source index (i.e. Newedge CTA Index, S&P 500 Index, etc.), and investors should take care to understand that any index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.
The performance data for various Commodity Trading Advisor (“CTA”) and Commodity Pools are compiled from various sources, including Barclay Hedge, RCM’s own estimates of performance based on account managed by advisors on its books, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor’s disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor’s track record.
The mention of general asset class performance (i.e. managed futures did well, stocks were down, bonds were up) is based on RCM’s direct experience in those asset classes, estimates of performance of dozens of CTAs followed by RCM, and averaging of various indices designed to track said asset classes.
The mention of market based performance (i.e. Corn was up 5% today) reflects all available information as of the time and date of the publication.
The owner of this blog, RCM Alternatives, may receive various forms of compensation from certain investment managers highlighted and/or mentioned within the blog, including but not limited to retaining: a portion of trade commissions, a portion of the fees charged to investors by the investment managers, a portion of the fees for operating a fund for the investment managers via affiliate Attain Portfolio Advisors, or via direct payment for marketing services.
Managed Futures Disclaimer:
Past Performance is Not Necessarily Indicative of Future Results. The regulations of the CFTC require that prospective clients of a managed futures program (CTA) receive a disclosure document when they are solicited to enter into an agreement whereby the CTA will direct or guide the client’s commodity interest trading and that certain risk factors be highlighted. The disclosure document contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA.
See the full terms of use and risk disclaimer here.
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