VanEck CMCI Commodity Strategy ETF (CMCI)

VanEck CMCI Commodity Strategy ETF is an exchange-traded fund from VanEck that seeks to track the UBS Constant Maturity Commodity Index, a broad benchmark of commodity futures covering energy, industrial and precious metals, agriculture and livestock.

What distinguishes the underlying index is its constant-maturity design: rather than concentrating in the nearest futures contracts, it spreads exposure across several contract maturities for each commodity. This approach is intended to reduce the effects of rolling front-month contracts and to provide a more diversified view of the commodity futures curve.

The fund obtains its commodity futures exposure largely through a wholly owned subsidiary and holds Treasury securities and cash equivalents as collateral. It is structured as a regular investment company ETF rather than a commodity pool that issues a Schedule K-1.