ETF (UCITS compliant)

L&G Longer Dated All Commodities ex-Agriculture and Livestock UCITS ETF

Fund facts

Fund size*
$3.3m
Base currency
USD
Listing date
11 Jul 2017
Domicile
Ireland
Index ticker
BU3XALCT
Replication method
Synthetic - unfunded swap backed by collateral

Statistics

*As at 27 Sep 2021

Fund aim

The L&G Longer Dated All Commodities ex-Agriculture and Livestock UCITS ETF (the "ETF") aims to track the performance of the Bloomberg ex-Agriculture and Livestock 15/30 Capped 3 Month Forward Total Return Index (the "Index").

  • Targeted commodities exposure

Basket of longer-dated commodity futures excluding agriculture and livestock

  • 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

Bloomberg ex-Agriculture & Livestock 15/30 Capped 3 Month Forward Index

The Index provides broadbased exposure to commodities via a diversified basket of longdated commodity futures excluding agriculture and livestock.

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; and (3) Industrial Metals. 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 safekeeping) the cash that they will need to settle the contract at the future delivery date. The Index is a “longer dated” index which means that it refers to versions of the relevant commodity futures that have expiry dates further into the future than the versions of the commodity futures comprised in the Bloomberg Commodity Index.

Index data

Provider
Bloomberg
Bloomberg code
BU3XALCT
Reuters code
.BU3XALCT
Type
Total Return
Website
www.bloombergindices.com

Fund updates

Performance

Source: LGIM (index data), Lipper (fund data) .

Performance (%)
Select period:
Change

    Performance summary (%)

    As at 31 Aug 2021

    CumulativeFundBenchmark
    1 month0.100.13
    6 months15.3915.60
    Year to date25.6325.91
    3 years25.7127.15
    5 years--
    Since launch45.5747.92
    AnnualisedFundBenchmark
    1 year26.29-
    3 years7.928.33
    5 years--
    Since launch9.499.91

    As at 30 Jun 2021

    CumulativeFundBenchmark
    Quarterly14.5214.61
    Year to date21.4921.69
    3 years15.9317.26
    5 years--
    Since launch40.7742.96
    AnnualisedFundBenchmark
    1 year40.9141.39
    3 years5.055.44
    5 years--
    Since launch8.999.41
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

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

    12 months to 30 June 2017 2018 2019 2020 2021
    Fund---7.24-11.3140.91
    Benchmark---6.86-10.9641.39

    Calendar year performance (%)

    2016 2017 2018 2019 2020
    Fund---10.5311.53-1.45
    Benchmark---10.1812.01-1.08

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund26.297.92-9.49
    Benchmark-8.33-9.91

    Annualised performance (%)

    1 year3 years5 yearsSince launch
    Fund40.915.05-8.99
    Benchmark41.395.44-9.41

    Performance for the USD Accumulating ETF class in USD, listed on 11 July 2017. Source: LGIM (index data), Lipper (fund data) . 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 guide to the future.

    Portfolio

    As at 31 Aug 2021. All data source LGIM unless otherwise stated. Totals may not sum to 100% due to rounding.

    The breakdowns below relate to the Index.

    Sector (%)

    Energy41.7
    Industrial Metals32.8
    Precious Metals21.8
    Agriculture3.6

    Commodity (%)

    Natural Gas15.5
    Gold14.9
    Copper (COMEX)11.4
    WTI Crude Oil11.1
    Aluminum10.1
    Brent Crude9.1
    Silver6.9
    Zinc6.1
    Nickel5.3
    Other9.7
    Top 10 constituents94.0
    Rest of Index6.0
    No. of constituents in Index12

    Top 10 constituents (%)

    Natural Gas15.5
    Gold14.9
    Copper (COMEX)11.4
    WTI Crude Oil11.1
    Aluminum10.1
    Brent Crude9.1
    Silver6.9
    Zinc6.1
    Nickel5.3
    Gas Oil3.6

    Investment Manager

    GO ETF Solutions LLP 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

    Name
    USD Acc
    Currency
    USD
    NAV
    15.32
    Price time
    16:00 EST (NY)

    Further details

    Charges and tax

    TER
    0.30%
    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 dateISINBloomberg codeReuters codeTrading hours (local)
    London Stock ExchangeGBPXAGG11/07/2017IE00BYQJ1388XAGG LNXAGG.L08:00 - 16:30
    London Stock ExchangeUSDXAGS11/07/2017IE00BYQJ1388XAGS LNXAGS.L08:00 - 16:30
    Deutsche BörseEURETLE04/08/2017IE00BYQJ1388ETLE GYETLE.DE09:00 - 17:30

    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, 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 ex-Agriculture & Livestock 15/30 Capped 3 MONTH FORWARD TOTAL RETURNSM” and “Bloomberg Commodity Index 3 MONTH FORWARDSM” 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 Longer Dated All Commodities Ex-Agriculture and Livestock UCITS ETF (the “ETF”) issued by the Company is based on the Bloomberg Commodity Index 3 MONTH FORWARDSM, 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 Index 3 MONTH FORWARDSM and make no representation regarding the advisability of investing in the ETF.