Overview
The investment objective of the fund is to deliver the performance of the UBS CMCI Future Commodity Index Net Total Return. The stock exchange price may differ from the net asset value. (this sub-fund's "Index").
The fund synthetically replicates the index performance by investing in a swap.
We target to over-collateralise the funds exposure to the swap counterparty by 105%.
The fund is passively managed.
Benefits
Clients benefit from the flexibility of an exchange-traded investment.
Provides access to the performance of the index.
Optimised risk/return profile thanks to a broad diversification across a range of sectors.
The fund offers a high degree of transparency and cost efficiency.
UCITS compliant fund.
Risks
The fund delivers the return of a broadly diversified commodity index and may therefore be subject to high fluctuations in value. This Fund may not be appropriate for investors who plan to withdraw their money before the recommended holding period disclosed in the PRIIPs KID. The returns payable on the fund are dependant on payments received by the fund from the swap counterparty under the terms of the relevant swap and therefore are subject to the credit risk of the swap counterparty. In the event that the swap counterparty defaults under the terms of the relevant swap, the fund may suffer a loss. Every fund has specific risks, which can significantly increase under unusual market conditions. The fund’s assets are passively managed. As a result, the net asset value of the fund’s assets is materially dependent on the performance of the underlying investments. Losses that could be avoided via active management will not be offset.
Features
| Name of fund |
UBS CMCI Future Commodity SF UCITS ETF
|
| Share class |
UBS CMCI Future Commodity SF UCITS ETF USD acc
|
| Fund domicile |
Ireland
|
| Launch date |
24.05.2023
|
| TER (flat fee) |
0.34%
|
| Securities no. |
125663096
|
| Reuters ID |
BCFC.DE, CDTR.L, RENEW.S
|
| Fund type |
open-end
|
| SFDR Classification |
Art.8
|
| UCITS V |
yes
|
| Currency of share class |
USD
|
| Accounting year end |
30 June
|
| Replication methodology |
Synthetic (Fully Funded + Total Return Swap)
|
| Shares outstanding |
28,742
|
| Assets (m) |
USD 3.45
|
| Total fund assets (m) |
USD 3.45
|
| EUA Spot Price |
94.58
|
| Daily Carbon Entitlement per ETC |
2718418.65
|
| Total EUA Holding |
79.6342
|
| Total Value of EUA Holdings |
2,288,847.58
|
Performance and prices
Volatility (as of last month end)
| 1Y | 2Y | 3Y | 5Y | |
| Fund Volatility | - | 8.71% | - | - |
| Benchmark Volatility | - | 8.71% | 9.69% | - |
| Tracking Error (ex post) | - | 0.03% | - | - |
Latest dividend declaration
| Pay date | — |
| Distribution date | — |
| Distribution | — |
| Currency | — |
Net Asset Values
Last 7 days
From
28-Jul-2021
To
04-Aug-2021
|
Date
|
Adjusted NAV
|
Official NAV
|
Index
|
Distribution
|
Currency
|
| 07.01.2026 | USD 117.3653 | USD 117.3653 | 118.89 | ||
| 08.01.2026 | USD 117.1284 | USD 117.1284 | 118.65 | ||
| 09.01.2026 | USD 118.2032 | USD 118.2032 | 119.74 | ||
| 12.01.2026 | USD 118.9288 | USD 118.9288 | 120.48 | ||
| 13.01.2026 | USD 119.1741 | USD 119.1741 | 120.73 | ||
| 14.01.2026 | USD 120.0230 | USD 120.0230 | 120.73 |
Sustainability
No sustainable investment objective
This financial product promotes environmental or social characteristics, but does not have as its objective sustainable investment.
Environmental or social characteristics of the financial product
The following characteristic(s) are promoted by the financial product:
1. This financial product is passively managed and tracks an index (“Index/Reference Index”). The following characteristics are promoted by the financial product: • tracks/tracking of a benchmark with a sustainability profile ecological-social score (the “ES Score”) that is higher than the parent benchmark’s ES Score to achieve an improvement in the portfolio level ES Score over time. The parent benchmark is the UBS Constant Maturity Commodity Index. The Reference Index designated for the purpose of attaining the characteristic pro-moted by the financial product is the UBS CMCI Future Commodity Index.
The Reference Benchmark designated for the purpose of attaining the characteristic promoted by the financial product is the UBS Constant Maturity Commodity Index.
The above characteristic(s) is / are measured using the following indicators respectively:
1. The Reference Index is constructed by incorporating ecological and social criteria into the UBS Constant Maturity Commodity Index (the “CMCI” - parent benchmark) to achieve an improvement in the portfolio level ecological-social score (the “ES Score”) over time. To calculate this ES Score, the Index Owner uses an external provider, Reinhard Friesenbichler Unternehmensberatung or “RFU”, to assess the current and future sustainability prospects of commodities within the CMCI across the energy, agriculture and metals industries. The ES score is a numerical value per commodity that is computed by combining a continuous variable that assesses the sustainability of commodities from a production, utilisation, ecological and social perspective (e.g., with regard to waste and emissions, end-user industry impact, human rights, health and safety and supply chain impact), with a categorical variable that reflects the sustainability outlook of that commodity from a future utilisation and production.
Investment strategy
The following binding element(s) of the investment strategy is / are used to select the investments to attain the characteristic(s) promoted by this financial product:
1. The investment objective of the financial product is to track the performance before fees and expenses of the Reference Index. The Reference Index aims to incorporate ecological and social criteria that has been developed by RFU, specialists in sustainable and investment research, into the UBS Constant Maturity Commodity Index (the “CMCI” - parent benchmark) and gradually improve its portfolio level Ecological-Social (E-S) score each year by +0.245. This gradual improvement will happen until no feasible solution as part of the optimisation process can be found to increase the score. Beyond the year-on-year improvement of the index E-S score by +0.245, the CMCI Sustainability Transition leverages CMCI's tenor diversification to enhance these characteristics. For the Ecological-Social (E-S) score, a total rating for each commodity is calculated, based on deep analysis of contributory factors four key areas broken into two sub-groups (Social and Ecological, and Production and Utilization
Together, this results in a score on the scale from -10 to +10, transformed into a rating on the nine-point scale from C- to A+. The weightings with which the individual criteria and dimensions are included in the overall rating are dependent on the commodity group:
Social impact : 44%–53% weighting
Ecological impact: 47%–56% weighting
Production impact: 51%–60% weighting
Utilization: 40%–49% weighting
The E-S Score for the reference index is calculated annually (every January).
Proportion of investments
The minimum proportion of the investments used to meet the environmental and/or social characteristics promoted by the financial product is 100%.
The Fund gains exposure to the Reference Index through swaps (such swaps may include funded, unfunded or total return swaps), as such the Fund promotes the same environmental characteristics as those of the reference Index, which is to gain indirect exposure to an index of commodity futures which aims to incorporate ecological and social criteria that has been developed by RFU, specialists in sustainable and investment research, into the UBS Constant Maturity Commodity Index (the “CMCI” - parent benchmark) and gradually improve its portfolio level Ecological-Social (E-S) score each year.
Methodologies
The methodology of the construction of the Index can be found in the annex to the prospectus or supplement.
Data sources and processing
The data sources used to attain the stated environmental or social characteristics are supplied from a leading industry vendor
1. The data sources used to attain the stated environmental or social characteristics are as follows: The UBS Constant Maturity Commodity Index, supplied by the index provider
Data is consumed from leading provider(s)
Limitations to methodologies and data
We apply a minimum coverage threshold for the data sources used to attain the stated environmental or social characteristics of the financial product, these thresholds ensure that the binding targets can be monitored and measured. Accuracy of data is dependent on 3rd party providers, coverage of data sources can be less than 100% due to uncovered asset types, incomplete or inconsistent data and gaps in the coverage of these 3rd party providers.
Due diligence
Due diligence is carried out on index providers and/or data providers. This financial product is passively managed and seeks to track the performance and the ESG profile of the Index. Sustainability characteristics and risks are considered as part of the Index selection process.
Engagement policies
In terms of passive strategies tracking sustainability indexes as is the case with this financial product, the engagement process helps us to identify companies where material ESG and sustainability factors may present a future negative risk. While the UBS AM engagement program is across all asset classes and portfolios, the impact on passively managed fixed income strategies might be reduced, mainly due to the lack of voting rights and that companies which failed in UBS AM's engagement process are typically not excluded due to the passive management style. Nevertheless, passively managed fixed income assets are part of the engagement with senior management, as all other assets the firm manages, in order to achieve the biggest possible impact.
Designated reference benchmark
The Reference Index is constructed by incorporating ecological and social criteria into the UBS Constant Maturity Commodity Index (the “CMCI”) to achieve an improvement in the portfolio level ecological-social score (the “ES Score”) over time. To calculate this ES Score, the Index Owner (as defined below) uses an external provider, Reinhard Friesenbichler Unternehmensberatung or “RFU”, to assess the current and future Sustainability prospects of commodities within the CMCI across the energy, agriculture and metals industries. The ES score is a numerical value per commodity that is computed by combining a continuous variable that assesses the sustainability of commodities from a production, utilisation, ecological and social perspective (e.g., with regard to waste and emissions, end-user industry impact, human rights, health and safety and supply chain impact), with a categorical variable that reflects the sustainability outlook of that commodity from a future utilisation and production point of view.
The composition of the Reference Index is rebalanced to new commodity target weights on an annual basis and the allocation to each commodity component is determined via the aid of optimization. The optimization objective is to minimize deviations from the CMCI target weights subject to: (i) liquidity, (ii) diversification constraints, and (iii) achieving an overall improvement in the ES Score at the Reference Index level.
The Fund synthetically replicates the performance of the Reference Index by receiving the return of the Reference Index through Swaps.
The Reference Index is constructed by incorporating ecological and social criteria into the UBS Constant Maturity Commodity Index (the relevant broad market index) to achieve an improvement in the portfolio level ecological-social score over time.
The Reference Index is governed by MerQube, Inc (the “Index Administrator”) via its internal processes. The Index Administrator controls the creation and operation of the administrative process, including all stages and processes involved in the production and dissemination of the Reference Index. UBS AG (“Index Owner”) is the sole owner of the intellectual property rights with respect to the Reference Index. More details on the Reference Index, including its underlying components, can be found at: https://merqube.com/files/9056055b-fa51-42f6-be8c-ebc0d6ad9163/methodology/UBS%20CMCI%20Technical%20Document.pdf
Holdings
Collateral Information
| Security | ISIN | Sedol Code | Country | Asset Type | Weight % |
| US DOLLAR | - | - | - | Cash | 100.00 |
The table above lists the securities that are used as collateral for the securities lent with UBS ETFs. The information presented was obtained from internal and external sources deemed reliable. However, we cannot provide any guarantee of their accuracy and completeness. It should be noted that securities lending is subject to a certain risk where the borrower does not return the borrowed securities according to his/her obligation, and where the value of the collateral provided does not cover the costs of repurchase of the securities. In this case, the borrower shall be liable for any claims arising from the securities lending and not covered by the sale of the securities concerned.
Source: State Street, 13.01.2026
Securities Lending as of 11-Jan-2022
From
11-Jan-2021
To
11-Jan-2022
No distributions. Continuous reinvestment of income
Distributions
Sales Authorisations
Brochures
|
Document type
|
Document Language
|
| Fact Sheet |
Agreement / Prospectus
|
Document type
|
Document Language
|
| Fund documentation M&A |
|
| Key Information Document |
|
| Past performance |
|
| Previous performance scenario |
|
| Prospectus |
|
| Supplement |
|
Annual and semi-annual report
|
Document type
|
Document Language
|
| Annual report |
|
| Semi-annual report |
|
Contact
| Exchange | Currency | iNAV | Bid | Ask | Total volume | Total turnover | |
 |
London Stock Exchange Domestic/UK Market 1st Currency | GBP | - | 88.7600 | 89.2200 | - | - |
|
SIX Swiss Exchange USD | USD | - | 118.8400 | 119.4400 | - | - |
Terms
For marketing and information purposes by UBS. UBS funds under Irish law. Arrangements for marketing fund units mentioned in this document may be terminated at the initiative of the management company of the fund(s). Prospectuses, key information document (KID) where applicable, the articles of association or the management regulations as well as annual and semi-annual reports are available for the purpose of inspection and obtaining copies thereof in a language required by the local applicable law free of charge at UBS SA国际传谋, Regeringsgatan 38, 11153 Stockholm or from UBS Europe SE, Denmark Branch, filial af UBS Europe SE, Sankt Annae Plads 13, 1 TH, 1250 Copenhagen, Denmark and online at www.fundinfo.com. The product described herein aligns to Article 8 Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector. Information on sustainability-related aspects pursuant to that regulation can be found on www.ubs.com/funds. Before investing in a product please read the latest prospectus and key information document or similar legal documentation carefully and thoroughly. Any decision to invest should take into account all the characteristics or objectives of the product as described in its prospectus, or similar legal documentation. Investors are acquiring units or shares in a fund, and not in a given underlying asset such as building or shares of a company. The information and opinions contained in this document have been compiled or arrived at based upon information obtained from sources believed to be reliable and in good faith, but is not guaranteed as being accurate, nor is it a complete statement or summary of the securities, markets or developments referred to in the document. Any Index referenced in this document is not administered by UBS. Members of the UBS Group may have a position in and may make a purchase and / or sale of any of the securities or other financial instruments mentioned in this document. Units of UBS funds mentioned herein may not be eligible for sale in all jurisdictions or to certain categories of investors and may not be offered, sold or delivered in the United States. The information mentioned herein is not intended to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not a reliable indicator of future results. The calculated performance takes all costs on the product level into consideration (ongoing costs). The entry and exit costs, which would have a negative impact on the performance, are not taken into consideration. If whole or part of the total costs to be paid is different from your reference currency, the costs may increase or decrease as a result of currency and exchange rate fluctuations. Commissions and costs have a negative impact on the investment and on the expected returns. If the currency of a financial product or financial service is different from your reference currency, the return can increase or decrease as a result of currency and exchange rate fluctuations. This information pays no regard to the specific or future investment objectives, financial or tax situation or particular needs of any specific recipient. Future performance is subject to taxation which depends on the personal situation of each investor and which may change in the future. The details and opinions contained in this document are provided by UBS without any guarantee or warranty and are for the recipient's personal use and information purposes only. This document may not be reproduced, redistributed or republished for any purpose without the written permission of UBS SA国际传谋 Switzerland AG or a local affiliated company. Source for all data and charts (if not indicated otherwise): UBS SA国际传谋. A summary of investor rights in English can be found online at www.ubs.com/funds-regulatoryinformation. More explanations of financial terms can be found at www.ubs.com/am-glossary. © UBS 2026. SA国际传谋. All rights reserved.
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