Last checked at 15 Jan 2019 10:04
ETFS Commodity Securities Limited
LEI: 21380068Q1JSIAN4FO63
15 January 2019
Rebalancing of Index Securities
The annual rebalancing of the Bloomberg Commodity Index and Bloomberg Commodity Index 3 Month Forward, and consequently the adjustment to the number of Micro Securities in each of the twenty-eight categories of Index Securities (comprising eighteen categories of Classic Index Securities and ten categories of Longer Dated Index Securities) issued by ETFS Commodity Securities Limited has been completed.
Tables 1 and 2 show the new number of Micro Securities comprised in each Index Security for Classic Index Securities and Longer Dated Index Securities. No further changes will occur until the next rebalancing, scheduled for early January 2020.
Table 3 shows the effective weight of each commodity based on the new number of Micro Securities and current commodity prices (as at close on 14 January 2019).
For further information, please contact
Ciaran Hocking
R&H Fund Services (Jersey) Limited
Tel: +44 (0) 1534 825200
Fax: +44 (0) 1534 825335
E-mail address: ciaran.hocking@rhfsl.com
Table 1 -Number of Micro Classic Securities in each class of Classic Index Security on 15 January 2019
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| Classes of Micro Securities |
| Number of Micro Classic Securities in each class of Classic Index Security. These are the numbers until the next rebalancing (scheduled for January 2020) |
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| All Commodities | Energy |
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| Ex-Energy |
| Ex-Agriculture& Livestock |
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| Natural Gas |
| 19,725,345 | 28,050,037 | Petroleum |
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| 35,369,738 |
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| WTI Crude Oil |
| 84,203 | 120,000 | 513,911 |
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| 151,229 |
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| Brent Crude |
| 23,808 | 33,856 | 144,868 |
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| 42,691 |
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| Unleaded Gasoline |
| 9,157 | 13,022 | 55,716 |
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| 16,419 |
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| Heating Oil |
| 15,950 | 22,682 | 97,069 |
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| 28,604 |
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| Low Sulphur Gas Oil |
| 12,489 | 18,092 | 77,730 |
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| 22,634 |
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| Industrial Metals |
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| Aluminium |
| 119,059 | 920,992 |
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| 171,247 |
| 213,357 |
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| Copper (COMEX) |
| 24,058 | 185,634 |
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| 34,517 |
| 43,171 |
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| Zinc |
| 34,038 | 262,168 |
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| 48,808 |
| 61,093 |
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| Nickel |
| 20,095 | 155,528 |
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| 28,909 |
| 36,029 |
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| PM |
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| Gold |
| 65,114 | 819,405 |
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| 93,678 |
| 116,755 |
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| Silver |
| 20,371 | 255,976 |
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| 29,271 |
| 36,519 |
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| Livestock |
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| Live Cattle |
| 47,803 | 300,461 |
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| 68,774 |
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| Lean Hogs |
| 251,500 | 1,580,343 |
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| 361,843 |
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| Agriculture | Grains |
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| Wheat |
| 399,550 | 703,304 | 959,188 |
| 574,839 |
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| Kansas Wheat |
| 40,164 | 70,701 | 96,429 |
| 57,786 |
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| Corn |
| 578,675 | 1,018,615 | 1,389,226 |
| 832,557 |
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| Soybeans |
| 26,345 | 46,359 | 63,273 |
| 37,893 |
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| Soybean Meal |
| 4,050 | 7,120 |
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| 5,822 |
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| Softs |
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| Sugar |
| 34,790 | 61,199 | 197,096 |
| 50,033 |
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| Cotton |
| 48,842 | 85,970 | 276,780 |
| 70,270 |
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| Coffee |
| 234,437 | 410,878 | 1,324,749 |
| 336,260 |
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| Soybean Oil |
| 78,007 | 136,506 |
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| 111,752 |
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| Classes of Micro Securities | Number of Micro Classic Securities in each class of Classic Index Security. These are the numbers until the next rebalancing (scheduled for January 2020) |
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| Ex-Petroleum | Ex-Agri | Ex-IM | Ex-PM | Ex-Livestock | Ex-Grains | Ex-Softs |
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| Natural Gas | 44,229,258 | 29,330,722 | 36,481,123 | 37,239,006 | 41,392,604 | 42,237,359 | 27,483,405 |
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| WTI Crude Oil | - | 125,334 | 155,673 | 159,017 | 176,766 | 180,504 | 117,317 |
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| Brent Crude | - | 35,402 | 44,032 | 44,944 | 49,958 | 50,976 | 33,170 |
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| Unleaded Gasoline | - | 13,616 | 16,933 | 17,287 | 19,212 | 19,607 | 12,755 |
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| Heating Oil | - | 23,721 | 29,502 | 30,114 | 33,473 | 34,156 | 22,225 |
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| Low Sulphur Gas Oil | - | 18,725 | 23,127 | 23,628 | 26,229 | 26,926 | 17,411 |
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| Aluminium | 267,009 | 177,023 | - | 224,742 | 249,713 | 254,782 | 165,912 |
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| Copper (COMEX) | 53,850 | 35,808 | - | 45,426 | 50,477 | 51,541 | 33,523 |
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| Zinc | 76,169 | 50,676 | - | 64,276 | 71,414 | 72,931 | 47,435 |
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| Nickel | 45,053 | 29,879 | - | 37,936 | 42,164 | 43,024 | 27,998 |
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| Gold | 145,999 | 96,821 | 120,423 | - | 136,637 | 139,425 | 90,724 |
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| Silver | 45,646 | 30,302 | 37,697 | - | 42,734 | 43,613 | 28,386 |
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| Live Cattle | 107,184 | 71,079 | 88,408 | 90,240 | - | 102,354 | 66,600 |
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| Lean Hogs | 563,933 | 373,973 | 465,142 | 474,804 | - | 538,533 | 350,419 |
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| Wheat | 895,889 | - | 738,945 | 754,295 | 838,430 | - | 556,691 |
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| Kansas Wheat | 90,062 | - | 74,287 | 75,827 | 84,285 | - | 55,966 |
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| Corn | 1,297,542 | - | 1,070,235 | 1,092,470 | 1,214,323 | - | 806,271 |
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| Soybeans | 59,079 | - | 48,759 | 49,729 | 55,258 | - | 36,711 |
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| Soybean Meal | 9,077 | - | 7,497 | 7,645 | 8,494 | - | 5,644 |
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| Sugar | 77,991 | - | 64,362 | 65,676 | 72,990 | 74,477 | - |
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| Cotton | 109,516 | - | 90,331 | 92,204 | 102,492 | 104,582 | - |
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| Coffee | 524,603 | - | 433,733 | 442,707 | 491,952 | 502,384 | - |
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| Soybean Oil | 174,445 | - | 144,371 | 147,319 | 163,674 | 167,198 | 108,708 |
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Table 2- Number of Micro Longer Dated Securities in each class of Longer Dated Index Security on 15 January 2019
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| Classes of Micro Securities |
| Number of Micro Classic Securities in each class of Classic Index SecurityThese are the numbers until the next rebalancing (scheduled for January 2020) |
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| All Commodities |
| Energy |
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| Ex-Energy |
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| Natural Gas |
| 833,996 |
| 2,697,474 |
| Petroleum |
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| WTI Crude Oil |
| 47,209 |
| 152,824 |
| 408,864 |
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| Brent Crude |
| 38,618 |
| 124,903 |
| 333,656 |
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| Unleaded Gasoline |
| 7,178 |
| 23,208 |
| 61,996 |
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| Heating Oil |
| 15,184 |
| 49,108 |
| 131,186 |
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| Low Sulphur Gas Oil |
| 22,115 |
| 72,517 |
| 195,034 |
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| Industrial Metals |
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| Aluminium |
| 172,175 |
| 866,515 |
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| 193,092 |
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| Copper (COMEX) |
| 36,209 |
| 182,081 |
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| 40,524 |
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| Zinc |
| 54,812 |
| 274,925 |
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| 61,256 |
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| Nickel |
| 30,215 |
| 152,365 |
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| 33,927 |
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| Precious Metals |
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| Gold |
| 151,379 |
| 836,190 |
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| 170,043 |
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| Silver |
| 43,934 |
| 242,192 |
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| 49,248 |
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| Livestock |
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| Live Cattle |
| 57,096 |
| 719,851 |
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| 64,137 |
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| Lean Hogs |
| 35,591 |
| 449,288 |
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| 39,983 |
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| Agriculture |
| Grains |
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| Wheat |
| 272,776 |
| 393,054 |
| 519,530 |
| 306,403 |
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| Kansas Wheat |
| 51,971 |
| 74,889 |
| 98,983 |
| 58,381 |
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| Corn |
| 477,911 |
| 688,640 |
| 910,219 |
| 536,824 |
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| Soybeans |
| 61,030 |
| 87,942 |
| 116,306 |
| 68,555 |
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| Soybean Meal |
| 14,822 |
| 21,359 |
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| 16,647 |
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| Softs |
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| Sugar |
| 42,701 |
| 61,448 |
| 201,445 |
| 47,923 |
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| Cotton |
| 41,497 |
| 59,795 |
| 195,860 |
| 46,614 |
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| Coffee |
| 395,952 |
| 567,964 |
| 1,863,411 |
| 443,101 |
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| Soybean Oil |
| 102,469 |
| 146,787 |
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| 114,480 |
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Table 3 -Effective Weight of each Commodity in the ETFS All Commodities Index Securities and ETFS Longer Dated All Commodities Index Securities
(as at the close on 14 January 2019)
Commodity | Effective weights based on current commodity prices (Classic Securities) | Effective weights based on current commodity prices (Longer Dated Securities) |
Natural Gas | 9.38% | 8.75% |
WTI Crude Oil | 7.80% | 7.85% |
Brent Crude | 7.43% | 7.45% |
Gasoline | 2.30% | 2.32% |
Heating Oil | 2.21% | 2.22% |
Low Sulphur Gas Oil | 2.66% | 2.68% |
Aluminium | 4.21% | 4.26% |
Copper | 7.21% | 7.27% |
Zinc | 3.15% | 3.18% |
Nickel | 2.72% | 2.74% |
Gold | 12.04% | 12.14% |
Silver | 3.81% | 3.84% |
Live Cattle | 4.10% | 4.07% |
Lean Hogs | 1.84% | 1.78% |
Wheat | 3.07% | 3.10% |
Kansas Wheat | 1.26% | 1.27% |
Corn | 5.73% | 5.79% |
Soybeans | 5.79% | 5.85% |
Soy Meal | 3.28% | 3.31% |
Sugar | 3.12% | 3.16% |
Cotton | 1.40% | 1.41% |
Coffee | 2.44% | 2.47% |
Soybean Oil | 3.06% | 3.08% |
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Total | 100.00% | 100.00% |