Commodity Strategy ETF

OverviewPerformance & CharacteristicsFund InsightsPortfolio ManagersDocumentsInvest

Invest in DCMT

  1. Charles Schwab
  2. E*Trade
  3. Fidelity
  4. Interactive Brokers
  5. Robinhood
  6. SoFi
  7. Vanguard

If you don't see your brokerage listed here, search for DCMT on your brokerage of choice.

Email your financial professional to discuss the benefits of investing in DCMT.

If you have questions about DCMT or ETFs, we are here to help:

(855) 937-0772     [email protected]

Disclosure

ETFs are listed on major US Stock Exchanges and can be bought and sold throughout the trading day through a brokerage account. Since ordinary brokerage commissions apply for each ETF buy and sell transaction, frequent trading activity may increase the cost of ETFs. Investors should confirm these or any additional costs with their broker, financial professional, or other intermediary prior to placing any trades. Not all DoubleLine ETFs are available on all platforms, investors should consult their financial professional before placing a trade.

DoubleLine makes no representations, warranties, endorsements, or recommendations regarding any broker, financial professional, or other financial intermediary. Brokerage firms and hyperlinks on this website are provided as a convenience only and DoubleLine does not claim any responsibility for information, services or products found on the linked websites, nor is this an all-inclusive list brokerage firms. DoubleLine is not affiliated with any of the firms listed herein, nor were they involved in the creation of this content. DoubleLine has not reviewed the brokerage firm’s websites and does not guarantee any claims or assume any responsibility for the content.

DoubleLine ETFs are distributed by Foreside Fund Services, LLC. and do not provide financial advisory services or tax advice. Investors should consult a financial professional before making any investment decisions. Investors should also consult their own tax professionals for information regarding their own tax situations. This content is for informational purposes only and should not be construed as legal, tax, investment, financial, or other advice; nor should it be construed as a solicitation, recommendation, endorsement, or offer for any investment strategy or product for a particular investor.

Objective

The DoubleLine Commodity Strategy ETF (DCMT), an actively managed exchange-traded fund, seeks to generate total return over full market cycles through long exposures to commodity-related investments.

Summary

DCMT provides long-only exposure to a diversified basket of commodities across the five major sectors of the commodity market: energy, industrial metals, precious metals, agriculture and livestock. The investment universe comprises all 24 commodities in the Bloomberg Commodity Index. The fund overweights the 10 commodities with the highest roll yield and underweights the 14 commodities with the lowest roll yield. Within each commodity, DCMT actively selects futures contracts along the curve to enhance return via known factors such as carry, seasonality and momentum.

Backwardation and Contango

Investment Universe

Investment Universe

Trading Questions?

Contact us by telephone: (855) 937-0772
or email: ETFinfo@doubleline.com

 

Fund Facts

  • Fund Inception: January 31, 2024
    CUSIP 25861R501
    Ticker DCMT
    Intraday NAV Ticker ^DCMT-IV
    Benchmark Bloomberg Commodity Index Total Return
    30-Day SEC Yield % (Oct 31, 2024) 3.18
    Gross Expense Ratio % 0.65

Portfolio Holdings
Commodity Exposure
Fact Sheet

Daily Data

  • As of November 19, 2024 Closing
    NAV $ 25.47
    ETF Market Price $ 25.52
    Premium/Discount (bps) 18
    Yield to Maturity % 4.56
    30 Day SEC Yield % (November 18, 2024) 3.14
    Assets Under Management $ 21,393,789

Bid/Ask Spread - The amount by which the ask price exceeds the bid price for an asset in the market. The bid-ask spread is essentially the difference between the highest price that a buyer is willing to pay for an asset and the lowest price that a seller is willing to accept.

Net Asset Value (NAV) - the price per share of the fund on a specific date or time. The NAV is the value of a fund's assets minus the value of its liabilities.

Closing Price - The final market price at which the fund traded at the end of the trading day. The closing price is considered the most accurate valuation of a security until trading resumes on the next trading day.

Price to NAV Premium/Discount

First Quarter of 2024* Second Quarter of 2024 Third Quarter of 2024
Days Traded at Premium 22 36 34
Days Traded at Discount 18 27 30

* Partial - Since Inception

Premium/Discount - A premium or discount to the net asset value (NAV) occurs when the market price of an ETF on the exchange rises above or falls below its NAV. If the market price is higher than the NAV, the ETF is said to be trading at a "premium." If the price is lower, it is trading at a "discount.

Performance & Characteristics

As of October 31, 2022

Daily Portfolio Characteristics

  • Assets Under Management $ 21,393,789
    Number of Holdings 5
    Avg Price $ 99.37
    Duration (Years) 0.13
    30 Day SEC Yield % (November 18, 2024) 3.14
    Yield to Maturity % 4.56

Daily Trading

  • ETF Market Price $ 25.52
    ETF Net Asset Value $ 25.47
    Shares Outstanding 840,001
    3 Month Avg Trading Volume (Shares) 15,167
    3 Month Avg Trading Volume (Notional) 382,648
    30 Day Median Bid-Ask Spread % 0.20

Collateral (%)

As of November 19, 2024

  • Cash 4.91
    Treasury Bill 95.09

INSIGHTS

Fund Insights

2-22-24_ETF_Webcast_YTThumbnail
FEATURED Webcast
February 22, 2024

DoubleLine ETF Launch Webcast

Commodity Strategy ETF, Fortune 500 Equal Weight ETF
Article
Sep 2024

Investing With DoubleLine's Exchange-Traded Funds (ETFs)

Jeffrey Gundlach, Jeffrey Sherman, CFA
Video
Mar 2024

ETF Guide Takes a First Look at DCMT

Samuel Lau
Article
Sep 2024

Commodity Strategy ETF Frequently Asked Questions

Commodity Strategy ETF

PORTFOLIO MANAGERS

Portfolio Managers

  • Jeffrey Sherman, CFA

    Deputy Chief Investment Officer
    READ BIO

    Jeffrey Sherman, CFA

    Deputy Chief Investment Officer

    As DoubleLine’s Deputy Chief Investment Officer, Jeffrey Sherman oversees and administers DoubleLine’s Investment Management sub-committee coordinating and implementing policies and processes across the investment teams. He also serves as lead portfolio manager for multi-sector and derivative-based strategies. Mr. Sherman is a member of DoubleLine’s Executive Management and Fixed Income Asset Allocation Committees. He can be heard regularly on his podcast “The Sherman Show” (Twitter @ShermanShowPod, ShermanShow@Doubleline.com) where he interviews distinguished guests, giving listeners insight into DoubleLine’s current views. In 2018, Money Management Executive named Jeffrey Sherman as one of “10 Fund Managers to Watch” in its yearly special report. Prior to joining DoubleLine in 2009, Mr. Sherman was a Senior Vice President at TCW where he worked as a portfolio manager and quantitative analyst focused on fixed income and real-asset portfolios. He was a statistics and mathematics instructor at both the University of the Pacific and Florida State University. Mr. Sherman taught Quantitative Methods for Level I candidates in the CFA LA/USC Review Program for many years. He holds a B.S. in Applied Mathematics from the University of the Pacific and an M.S. in Financial Engineering from the Claremont Graduate University. Mr. Sherman is a CFA® charterholder.

    2020

    "The Sherman Show" Named One of the "10 Must-Listen Podcasts" by Business Insider

  • Samuel Lau

    Portfolio Manager
    READ BIO

    Samuel Lau

    Portfolio Manager

    Mr. Lau joined DoubleLine in 2009. He is a Strategist on the Fixed Income Asset Allocation (FIAA) Committee and a contributing member on the Global Asset Allocation and Macro Committees. Mr. Lau is a Portfolio Manager on DoubleLine’s strategic commodity strategy while working in portfolio management and trading for derivatives-based and multi-asset strategies, including DoubleLine's Shiller Enhanced CAPE®, Shiller Enhanced International CAPE®, Real Estate and Income, and Multi-Asset Trend strategies. He also co-hosts the Sherman Show (Twitter @ShermanShowPod, ShermanShow@Doubleline.com) and Monday Morning Minutes (Twitter @DLineMinutes, Minutes@Doubleline.com) podcasts. Prior to DoubleLine, Mr. Lau was a Vice President at TCW where he worked under Jeffrey Gundlach as a Research Analyst in the Mortgage Group. He holds a B.S. from the University of Wisconsin, Madison and an MBA from the Marshall School of Business at the University of Southern California.

  • Jeffrey Mayberry

    Portfolio Manager
    READ BIO

    Jeffrey Mayberry

    Portfolio Manager

    Mr. Mayberry joined DoubleLine in 2009. He is a Portfolio Manager on DoubleLine’s strategic commodity strategy while working in portfolio management and trading for derivatives‐based and multi‐asset strategies. Mr. Mayberry is a Strategist on the Fixed Income Asset Allocation Committee and a contributing member on our Global Asset Allocation and Macro committees. He also co-hosts DoubleLine’s weekly Monday Morning Minutes (Twitter @DLineMinutes, Minutes@Doubleline.com) podcast. Prior to DoubleLine, Mr. Mayberry was a Senior Vice President at TCW for nine years within the Mortgage Group, where he specialized in portfolio and fund monitoring and analytics. He holds a B.S. in Engineering from Harvey Mudd College and an M.S. in Financial Engineering from the Peter F. Drucker Graduate School of Management at Claremont Graduate University.

Documents

[Prospectuses and SAI]
[Fact Sheets]
[Fund Holdings]
[Dividends and Capital Gains]
[Reports and Disclosures]
[Tax-Related]
ALL FUND DOCUMENTS

The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contain this and other important information about the investment company and may be obtained by calling (855) 937-0772, or downloading from the fund document library on this website. Read them carefully before investing.

Investing in Exchange-Traded Funds involves risk. Principal loss is possible.

Sector allocations and fund holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security. Portfolio holdings generally are made available 30 days after month-end by visiting www.doubleline.com. The source for the information in this report is DoubleLine Capital, which maintains its data on a trade date basis.

The risk that the value of the Fund’s shares may be affected by changes in the values of the Fund’s investment exposures to commodities or commodity-related instruments, which may be extremely volatile and difficult to value.

Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.

Investments in lower-rated and non-rated securities present a greater risk of loss to principal and interest than higher-rated securities.

Investments in ABS and MBS include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments.

Investments in floating rate securities include additional risks that investors should be aware of such as credit risk, interest rate risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments.

The fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets.

The fund may use leverage which may cause the effect of an increase or decrease in the value of the portfolio securities to be magnified and the Fund to be more volatile than if leverage was not used.

Derivatives involve special risks including correlation, counterparty, liquidity, operational, accounting and tax risks. These risks, in certain cases, may be greater than the risks presented by more traditional investments.

Investing in ETFs involves additional risks such as the market price of the shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a fund's ability to sell its shares.

Yield to maturity (YTM) does not represent return. YTM provides a summary measurement of an investment’s cash flows, including principal received at maturity based on a given price. Actual yields may fluctuate due to a number of factors such as the holding period, changes in reinvestment rates as cash flows are received and redeployed, receipt of timely income and principal payments. DoubleLine views YTM as a characteristic of a portfolio of holdings often used, along with other risk measures such as duration and spread, to determine the relative attractiveness of an investment.

30-Day SEC Yield – Standard yield calculation developed by the U.S. Securities and Exchange Commission (SEC) that allows for fairer comparisons of bond funds. It is based on the most-recent 30-day period covered by the fund’s filings with the SEC. The yield figure reflects the fund’s dividends and interest earned during the period after the deduction of the fund’s expenses. It is also referred to as the “standardized yield.”

DoubleLine ETFs are distributed by Foreside Fund Services, LLC.

DoubleLine ETFs are distributed by Foreside Fund Services, LLC.