ETF (UCITS compliant)

L&G All Commodities UCITS ETF

USD Accumulating ETF Class
ISIN
TER
NAV$14.01
As at28 Sep 2023

Fund facts

Fund size*
$73.4m
Base currency
USD
Listing date
11 Jul 2017
Domicile
Ireland
Index ticker
BCOMTR
Replication method
Synthetic - unfunded swap backed by collateral

Statistics

*As at 28 Sep 2023

Fund aim

The L&G All Commodities UCITS ETF (the "ETF") aims to track the performance of the Bloomberg Commodity Index Total Return (the "Index").

  • Broad commodities exposure
    Basket of short-dated commodity futures
  • 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

Further details

Charges and tax

TER
0.15%
ISA eligible
Yes
SIPP eligible
Yes
UK Fund Reporting Status
Yes

Management / administration

Issuer
Legal & General UCITS ETF Plc
Depositary and Trustee
The Bank of New York Mellon SA/NV, Dublin Branch
Securities regulator
Central Bank of Ireland

Country registration

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

Listings

Details
Codes
ExchangeCurrencyTickerListing dateISINBloombergReutersTrading hours (local)
London Stock ExchangeGBPBCOG11/07/2017IE00BF0BCP69BCOG LNBCOG.L08:00 - 16:30
London Stock ExchangeUSDBCOM11/07/2017IE00BF0BCP69BCOM LNBCOM.L08:00 - 16:30
Deutsche Börse XetraEURETLF04/08/2017IE00BF0BCP69ETLF GYETLF.DE09:00 - 17:30

Bloomberg Commodity Index

The Index provides broad-based exposure to commodities as an asset class. The Index provides broad-based exposure to commodities via a diversified basket of short-dated commodity futures.

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) Precious Metals; (3) Industrial Metals; (4) Livestock; (5) Grains; and (6) Softs. Within the Index, the commodities are weighted according to their relative "liquidity" (a measure of how actively a commodity has historically traded) and "economic significance" (determined by reference to historical production levels). 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

Provider
Bloomberg
Bloomberg code
BCOMTR
Reuters code
.BCOMTR
Type
Total Return
Website
www.bloombergindices.com

Fund updates

Performance

Source: Lipper.

Performance for the USD Accumulating ETF class in USD, listed on 11 July 2017. 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.

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 31 Aug 2023

    CumulativeFundBenchmark
    1 month-0.79-0.77
    6 months2.422.53
    Year to date-2.92-2.77
    3 years51.9752.81
    5 years36.8538.20
    Since launch41.10-
    AnnualisedFundBenchmark
    1 year-8.84-8.67
    3 years14.9715.18
    5 years6.476.68
    Since launch--

    Benchmark: Bloomberg Commodity TR

    Share class launch date: 11 Jul 2017

    As at 30 Jun 2023

    CumulativeFundBenchmark
    Quarterly-2.61-2.56
    Year to date-7.89-7.79
    3 years62.6863.55
    5 years24.7626.00
    Since launch33.87-
    AnnualisedFundBenchmark
    1 year-9.79-9.61
    3 years17.6117.82
    5 years4.524.73
    Since launch--

    Benchmark: Bloomberg Commodity TR

    Share class launch date: 11 Jul 2017

    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

    Rolling 12-month performance to last quarter end (%)

    FundBenchmark
    2014--
    2015--
    2016--
    2017--
    2018--
    2019-6.97-6.75
    2020-17.57-17.38
    202145.3945.61
    202224.0324.27
    2023-9.79-9.61

    Calendar year performance (%)

    FundBenchmark
    2013--
    2014--
    2015--
    2016--
    2017--
    2018-11.52-11.25
    20197.467.69
    2020-3.31-3.12
    202126.9227.11
    202215.8716.09

    Monthly performance (%)

     

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund-8.8414.976.47-
    Benchmark-8.6715.186.68-

    Data as at 31.08.2023

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund-9.7917.614.52-
    Benchmark-9.6117.824.73-

    Data as at 30.06.2023

    Portfolio

    As at 31 Aug 2023. All data source LGIM unless otherwise stated. Totals may not sum to 100% due to rounding.

    The breakdowns shown relate to the Index.

    Sector (%)

    Energy29.0
    Agriculture27.4
    Precious Metals20.6
    Industrial Metals14.5
    Livestock5.7
    Consumer Discretionary2.8

    Commodity (%)

    Gold15.8
    WTI Crude Oil8.8
    Brent Crude8.1
    Natural Gas7.5
    Soybeans5.4
    Copper (COMEX)5.2
    Silver4.8
    Corn4.1
    Aluminum4.0
    Other36.5
    Top 10 constituents67.4
    Rest of Index32.6
    No. of constituents in Index24

    Top 10 constituents (%)

    Gold15.8
    WTI Crude Oil8.8
    Brent Crude8.1
    Natural Gas7.5
    Soybeans5.4
    Copper (COMEX)5.2
    Silver4.8
    Corn4.1
    Aluminum4.0
    Live Cattle3.9

    Investment Manager

    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

    Key literature

    Fact sheet
    31 Aug 2023
    KIID
    21 Jul 2023
    Prospectus
    23 Feb 2022
    First Addendum to Prospectus
    28 Nov 2022
    Fund supplement
    23 Feb 2022
    Brochure
    31 Dec 2022

    Fact sheets

    2023Change date
    Fact sheet
    Choose share class

    Marketing documents

    Brochure
    31 Dec 2022
    ETF product list
    01 Sep 2022

    Legal documents

    KIID
    21 Jul 2023
    Prospectus
    23 Feb 2022
    First Addendum to Prospectus
    28 Nov 2022
    Fund schedule supplement
    28 Nov 2022
    Fund supplement
    23 Feb 2022
    MiFID II EMT Costs and Charges
    31 Aug 2023
    MiFID II EPT Costs and Charges
    15 Dec 2022
    Supplementary information document
    01 Nov 2021
    Constitution
    20 Apr 2020

    Execution venues

    2020Change date
    Top 5 Execution Venues Report
    30 Apr 2020
    Top 5 Execution Venues Report
    30 Apr 2019
    Top 5 Execution Venues Report Data
    30 Apr 2020
    Top 5 Execution Venues Report Data
    30 Apr 2019

    Reports and accounts

    2022Change date
    Annual Report and Accounts
    30 Jun 2022
    Annual Report and Accounts
    30 Jun 2021
    Annual Report and Accounts
    30 Jun 2020
    Annual Report and Accounts
    30 Jun 2019
    Annual Report and Accounts
    30 Jun 2018
    Interim Report and Accounts
    31 Dec 2022
    Interim Report and Accounts
    31 Dec 2021
    Interim Report and Accounts
    31 Dec 2020
    Interim Report and Accounts
    31 Dec 2019
    Interim Report and Accounts
    31 Dec 2018
    Interim Report and Accounts
    31 Dec 2017

    Reportable income

    2022Change date
    Reportable income
    30 Jun 2022
    Reportable income
    30 Jun 2021
    Reportable income
    30 Jun 2020
    Reportable income
    30 Jun 2019
    Reportable income
    30 Jun 2018

    Trading information

    Dealing day calendar
    28 Sep 2023
    Best execution & order handling policy
    01 Feb 2022
    Dealing deadlines
    27 Sep 2023
    Fund valuation points
    27 Sep 2023
    iNav codes summary
    27 Sep 2023

    Shareholder notices

    2022Change date
    ICSD transition announcement
    20 Apr 2020
    ICSD transition FAQs
    23 Mar 2020
    Results of Sanction Hearing
    20 Mar 2020
    Change in Management Company
    13 Mar 2020
    Change of Investment Manager
    14 Oct 2021
    Results of Scheme Meeting and EGM
    27 Feb 2020
    Notice of AGM
    15 Nov 2022
    Notice of AGM
    09 Nov 2021
    Notice of AGM
    05 Nov 2020
    Notice of EGM
    04 Feb 2020
    Results of AGM
    08 Dec 2022
    Results of AGM
    03 Dec 2021
    Results of AGM
    03 Dec 2020
    Results of AGM
    31 Dec 2019
    Legal Notice
    03 Mar 2020

    Prices

    Name
    USD Acc
    Currency
    USD
    NAV
    14.01
    Price time
    16:00 EST (NY)

    Key risks

    The value of an investment and any income taken from it is not guaranteed and can go down as well as up. You may not get back the amount you originally invested.

    Past performance is not a guide to the future.

    An investment in the ETF involves a significant degree of risk. Any decision to invest should be based on the information contained in the relevant prospectus. Prospective investors should obtain their own independent accounting, tax and legal advice and should consult their own professional advisers to ascertain the suitability of the ETF as an investment.

    Market trading in commodity futures contracts can be extremely “volatile”. This means that the prices of the futures contracts comprised in the Index may fluctuate rapidly based on numerous factors, including supply and demand relationships, weather, agriculture, trade, economic or political events, technological developments, interest rates and governmental policies.

    If a swap counterparty is no longer willing or able to continue entering into swaps with the ETF, the ETF will not be able to continue tracking the Index.

    If a swap counterparty increases the cost of entering into swaps with the ETF, the ETF’s performance will be negatively impacted.

    Third party service providers (such as swap counterparties or the ETF’s depositary) may go bankrupt and fail to pay money due to the ETF or return property belonging to the ETF.

    If the Index provider stops calculating the Index or if the ETF’s license to track the Index is terminated, the ETF may have to be closed.

    It may not always be possible to buy and sell ETF shares on a stock exchange or at prices closely reflecting the NAV.

    There is no capital guarantee or protection on the value of the ETF. Investors can lose all the capital invested in the ETF.

    Please refer to the “Risk Factors” section of the Issuer’s Prospectus and the Fund Supplement.

    For more information, please refer to the key investor information document.

    Important information

    In the United Kingdom and outside the European Economic Area, it is issued by Legal & General Investment Management Limited, authorised and regulated by the Financial Conduct Authority, No. 119272. Registered in England and Wales No. 02091894 with registered office at One Coleman Street, London, EC2R 5AA.

    In the European Economic Area, it is issued by LGIM Managers (Europe) Limited, authorised by the Central Bank of Ireland as a UCITS management company (pursuant to European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. No. 352 of 2011), as amended) and as an alternative investment fund manager with “top up” permissions which enable the firm to carry out certain additional MiFID investment services (pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257 of 2013), as amended). Registered in Ireland with the Companies Registration Office (No. 609677). Registered Office: 70 Sir John Rogerson’s Quay, Dublin, 2, Ireland. Regulated by the Central Bank of Ireland (No. C173733).

    LGIM Managers (Europe) Limited operates a branch network in the European Economic Area, which is subject to supervision by the Central Bank of Ireland. In Italy, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Commissione Nazionale per le società e la Borsa (“CONSOB”) and is registered with Banca d’Italia (no. 23978.0) with registered office at Via Uberto Visconti di Modrone, 15, 20122 Milan, (Companies’ Register no. MI - 2557936). In Germany, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the German Federal Financial Supervisory Authority (“BaFin”). In the Netherlands, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Dutch Authority for the Financial Markets (“AFM“) and it is included in the register held by the AFM and registered with the trade register of the Chamber of Commerce under number 74481231. Details about the full extent of our relevant authorisations and permissions are available from us upon request.

    We are a member of the Irish Funds Association.

    All features described on this website are those current at the time of publication and may be changed in the future. Nothing on this website should be construed as advice and it is therefore not a recommendation to buy or sell securities. If in doubt about the suitability of this product, you should seek professional advice. Copies of the prospectus, key investor information document, annual and semi-annual reports & accounts are available free of charge on request or at www.lgimetf.com.

    This website is only directed at investors resident in jurisdictions where our funds are registered for sale. It is not an offer or invitation to persons outside of those jurisdictions. We reserve the right to reject any applications from outside of such jurisdictions.

    Source and third party data

    Source: Unless otherwise indicated all data contained on this website is sourced from Legal & General Investment Management Limited.

    Where this document contains third party data ('Third Party Data’), we cannot guarantee the accuracy, completeness or reliability of such Third Party Data and accept no responsibility or liability whatsoever in respect of such Third Party Data

    Index disclaimer

    “Bloomberg®”, “Bloomberg Commodity Index TOTAL RETURNSM” and “Bloomberg Commodity IndexSM" are service marks of Bloomberg Finance L.P. and its affiliates (collectively, “Bloomberg”) and have been licensed for use for certain purposes by Legal & General UCITS ETF Plc (the "Issuer") and its affiliates. Although the L&G All Commodities UCITS ETF (the “ETF”) issued by the Issuer is based on the Bloomberg Commodity IndexSM, neither Bloomberg nor UBS Securities LLC and its affiliates (collectively “UBS”) are affiliated with the Issuer and Bloomberg and UBS do not approve, endorse, review, or recommend the ETF. Neither Bloomberg nor UBS guarantees the timeliness, accurateness, or completeness of any data or information relating to the Bloomberg Commodity IndexSM and make no representation regarding the advisability of investing in the ETF.

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