ETFs

ETF (UCITS compliant)

L&G Multi-Strategy Enhanced Commodities UCITS ETF

An ETF which takes advantage of the growth tailwinds, diversification benefits and inflation hedging properties associated with the commodity futures market.

ISINIE00BFXR6159

Price

TER0.30%

Fund aim

The L&G Multi Strategy Enhanced Commodities UCITS ETF (the "ETF") aims to track the performance of the Barclays Backwardation Tilt Multi-Strategy Capped Total Return Index (the “Index”).

Fund snapshot

  • Broad commodities exposure

Basket of commodity futures with dynamically determined expiry dates

  • Diversification

Commodities are a distinct asset class with returns that are largely independent of stock and bond returns

  • Inflation hedge

Commodity indices tend to benefit from rising inflation

Fund facts

Fund size$1753.2m
Base currencyUSD
Fund launch date5 Jul 2021
DomicileIreland
Share class launch5 Jul 2021
Replication methodSynthetic - unfunded swap backed by collateral
As at 12 Feb 2024

Benchmark

Barclays Backwardation Tilt Multi-Strategy Capped Total Return

Index description

Barclays Backwardation Tilt Multi-Strategy Capped Total Return Index

The Index provides broad-based exposure to commodities via a diversified basket of commodity futures with different expiry dates of up to 1 year, selecting specific contracts based on shape of the futures curve or other idiosyncratic properties.

The Index provides a return equivalent to a fully “collateralised” investment in a diversified portfolio of commodity “futures contracts” across the following sectors: (1) Energy; (2) Industrial metals; (3) Precious metals; (4) Agriculture; and (5) Livestock.

The Index return is comprised of: (1) the "spot" return which reflects the day-to-day changes in the prices of the commodity futures contracts; (2) the "roll" return associated with periodically selling the futures contracts that are nearing their expiry dates with later dated equivalents in order to maintain exposure to the commodity futures on an ongoing basis); and (3) the "collateral" return which reflects the interest that a commodity investor would earn where they deposit with a bank (for safe keeping) the cash that they will need to settle the contract at the future delivery date.

Index data

ProviderBarclays
Bloomberg codeBCC3C3TT
Reuters code.BCC3C3TT
TypeTotal Return
WebsiteGo to website

Performance

Performance for the USD Accumulating unit class in USD, launched on 05 July 2021. Source: Lipper. Performance assumes all ETF charges have been taken and that all income generated by the investments, after deduction of tax, remains in the ETF.
Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past. The tables and charts above shows the fund's performance as the percentage loss or gain per year over the last 10 years.
Share class launch date:05 Jul 2021
Benchmark:Barclays Backwardation Tilt Multi-Strategy Capped Total Return Index
Share class launch date:05 Jul 2021
Benchmark:Barclays Backwardation Tilt Multi-Strategy Capped Total Return Index
    Share class launch date:05 Jul 2021
    Benchmark:Barclays Backwardation Tilt Multi-Strategy Capped Total Return Index

    Performance scenarios

    The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back.
    What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted.
    The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product with input from the over the last 10 years. Markets could develop very differently in the future.

    Example investment:10,000 USD

    Scenarios1 year(Recommended holding period) 5 years
    Minimum

    There is no minimum guaranteed return. You could lose some or all of your investment.

    Stress scenario
    What you might get back after costs3,610USD2,630USD
    Average return each year (%)-63.88USD-23.42USD
    Unfavourable scenario
    What you might get back after costs7,400USD7,210USD
    Average return each year (%)-25.96USD-6.33USD
    Moderate scenario
    What you might get back after costs10,140USD14,080USD
    Average return each year (%)1.40USD7.08USD
    Favourable scenario
    What you might get back after costs16,450USD22,940USD
    Average return each year (%)64.52USD18.06USD

    Portfolio breakdown

    Top 10 constituents71.0%
    Rest of Index29.0%
    No. of constituents in Index24

    Top 10 constituents (%)

    Brent Crude14.9
    Gold 100 troy ounces9.7
    Soybean9.0
    Coffee7.8
    Sugar No. 116.7
    Soybean Meal5.1
    Gas Oil5.0
    Soybean Oil4.5
    RBOB Gasoline4.3
    Crude Oil4.1

    Sector (%)

    Agriculture
    41.0
    Energy
    35.2
    Precious Metals
    12.4
    Industrial Metals
    8.5
    Livestock
    3.0

    All data source LGIM unless otherwise stated. Totals may not sum to 100% due to rounding. The breakdowns shown relate to the Index.

    Fund managers

    ETF Investment Management Team

    Legal & General Investment Management Limited is the investment manager for this ETF and is responsible for its day-to-day investment management decisions. The team is highly experienced with respect to all aspects relating to the management of an ETF portfolio, including collateral management, OTC swap trading, adherence to UCITS regulations and counterparty exposure and monitoring.

    Literature

    Prices

    Pricing information

    Price time16:00 EST (NY)
    CurrencyUSD
    Monthly price history

    Download full price history

    Listings and codes

    Listings

    ExchangeCurrencyTickerISINBloombergReutersListing dateTrading hours (local)
    London Stock Exchange
    GBPENCGIE00BFXR6159ENCG LNENCG.L08/07/202108:00 - 16:30
    London Stock Exchange
    USDENCOIE00BFXR6159ENCO LNENCO.L08/07/202108:00 - 16:30
    Borsa Italiana
    EURENCOIE00BFXR6159ENCO IMENCO.MI23/09/202109:00 - 17:30
    Deutsche Börse Xetra
    EUREN4CIE00BFXR6159EN4C GYEN4C.DE23/09/202109:00 - 17:30
    SIX Swiss Exchange
    CHFENCOIE00BFXR6159ENCO SWENCO.S17/11/202109:00 - 17:30

    Codes

    ISINIE00BFXR6159
    SEDOL-
    BloombergENCO
    MEX-

    Dealing information

    IssuerLegal & General UCITS ETF Plc
    Depositary and TrusteeThe Bank of New York Mellon SA/NV, Dublin Branch
    Securities regulatorCentral Bank of Ireland

    Country registration

    This share class is registered for sale in the following countries:

    Austria
    Denmark
    Finland
    France
    Germany
    Ireland
    Italy
    Luxembourg
    Netherlands
    Norway
    Singapore*
    Spain
    Sweden
    Switzerland
    United Kingdom

    *The Fund is on the list of restricted collective investment schemes, but is not authorised or recognised by the Monetary Authority of Singapore (the “MAS”) and the Shares cannot be offered or marketed to retail clients.