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WisdomTree Enhanced Commodity UCITS ETF - CHF Hedged Acc

The WisdomTree Enhanced Commodity UCITS ETF - CHF Hedged Acc (the “Fund”) seeks to track the performance, before fees and expenses of the Optimized Roll Commodity Monthly CHF-Hedged Total Return Index (the "Index"). The Fund also aims to outperform the Bloomberg Commodity Index TR over the long term. The Fund invests in US Treasury Bills and uses total return swaps to deliver the Index performance. The swaps are collateralised on a daily basis and reset monthly. Learn more about the Index that COMS is designed to track.


Potential Benefits

  • Diversified index which provides broad commodity exposure 
  • Designed to maximise potential roll returns by selecting the futures contract with the highest implied roll yield for each commodity
  • Proceeds are invested in T-Bills, and collateral consists of G7 bonds 
  • Currency volatility is minimised through the use of currency forward contracts
  • The ETF is physically backed and UCITS compliant

Potential Risks 

  • The returns payable on the Fund are dependent 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 
  • The performance of commodity indices may differ significantly from spot commodity prices 
  • An investment in commodities may experience high volatility and should be considered as a longer term investment 
  • Investment risk may be concentrated in specific sectors, countries, companies or currencies 
  • The return of the forward currency contracts, which are rolled on a monthly basis, are designed to minimise currency fluctuations but may not perfectly offset the actual fluctuations
  • This list does not cover all risks-further risks are disclosed in the KIID and Prospectus


The price of any Shares or the value of an investment in ETPs may go up or down and an investor may not get back the amount invested. Past performance is not a reliable indicator of future performance. This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any financial instrument or product or to adopt any investment strategy.

Fund Overview
Use of Income Accumulating
Dividend Frequency N/A
Base Currency CHF
Inception Date 11 Dec 2019
Exchange Ticker COMS
TER 0.35%
Net Asset Value As of 06 Apr 2020
Daily Change N/A
Total AUM of fund $192,478,382.09
Replication Method US TBills With Swap Overlay
Legal Form Plc
Fund Umbrella WisdomTree Issuer Plc
Domicile Ireland
Structure Open-ended Exchange Traded Fund
Financial Year End 31 December
UCITS Compliant Compliant
Key Service Providers
Custodian State Street Custodial Services (Ireland) Limited
Administrator State Street Fund Services (Ireland) Limited
Fund Manager Assenagon Asset Management S.A
Trustee State Street Custodial Services (Ireland) Limited
Auditor Ernst & Young Ireland
Passported Countries
Austria Austria
Spain Spain
United Kingdom

Listings & Codes

Listings & Codes


As of 06 Apr 2020
*Holdings are subject to change without notice.

Sector Breakdown

As of 06 Apr 2020
*Sectors are subject to change without notice

Country Allocation

Country Allocation
As of 06 Apr 2020

Recent Distributions

Recent Distributions
There have been no recent distributions for this fund.
Index Details

Optimized Roll Commodity Monthly CHF-Hedged Total Return Index


The Index is a Swiss Franc denominated index whose main objective is to provide a broad and diversified UCITS compliant commodity exposure, covering four broad commodity sectors: Energy, Agriculture, Industrial Metals and Precious Metals. The Index uses futures to track the performance of the individual constituents of the Bloomberg Commodity Index TR (a basket of 22 commodities).The Index employs a rule based approach for each of its components when it 'rolls' from one futures contract to another for each commodity in the Index. Rather than selecting the new future based on a predefined schedule (e.g. monthly) the Index rolls to the future which generates the maximum implied roll yield. The Index aims to maximise the potential roll benefits in backwardated markets and minimise the loss from rolling down the curve in contango markets. 

The currency hedging methodology consists of entering into a one-month forward currency contract (a contract between two parties to buy or sell a specific currency in the future at an agreed upon exchange rate) in order to hedge the underlying foreign currency exposure arising as a result of the difference between the Swiss Franc and the US Dollar.

Index Details

Index Details
Index Name Optimized Roll Commodity Monthly CHF-Hedged Total Return Index
Currency USD
Index Provider S&P
Bloomberg Ticker EBCIWTCT
Leverage Factor N/A

Collateral Details

Collateral Details 02 Apr 2020
Collateralised Collateral not required
Over Collateralised Collateral not required
Custodian State Street Custodial Services (Ireland) Limited

Collateral Structure

Currency Hedging and Counterparty Risk Management


Some share classes of this Fund offer currency hedged exposure. These share classes obtain their currency hedged exposure by entering into foreign exchange (FX) forward contracts with one or more counterparties (the “Counterparty”).


Counterparty risk resulting from the Fund’s currency hedging activities is managed through the daily delivery of collateral by the Counterparty to the Fund. 


Daily Marked-to-Market


The value of the collateral required from the Counterparty is based on the Fund’s counterparty exposure, which is marked-to-market daily. Collateral may be exchanged daily [subject to a minimum transfer amount of USD 50,000. 


Eligible Assets


The assets posted as collateral by the Counterparty is of a high quality and may only include cash (US Dollars only) or government bonds of US, UK, France or Germany, with a minimum rating of AA-/Aa3 (“eligible collateral assets”). 




When valuing bonds posted as collateral, a haircut is applied to each bond's value based on the issuing country and the bond's maturity, as specified in the following table. Applying a haircut to the value of eligible collateral typically results in the collateral value exceeding the counterparty exposure and in any exposure being “over-collateralised”.


Haircuts / Over-Collateralisation Applied to Collateral Securities





The up-to-date exact collateral composition delivered by the Fund’s counterparties is available to view on our website.



“WisdomTree” is a registered trademark of WisdomTree Investments, Inc. Neither the Company, the Manager, the Investment Manager, WisdomTree nor their affiliates guarantee the accuracy or the completeness of the Index or any data included therein and shall have no liability for any errors, omissions or interruptions therein. Such parties make no warranty, express or implied, to the owners of Shares of the Fund or to any other person or entity, as to results to be obtained by the Fund from the use of the Index or any data included therein. Without limiting any of the foregoing, in no event shall such parties have any liability for any special, punitive, direct, indirect or consequential damages (including lost profits), even if notified of the possibility of such damages.


The Company is required to provide details of WisdomTree’s website to enable Shareholders to obtain further details of the Index (including its constituents). Neither the Company, the Manager nor the Investment Manager has any responsibility for the contents of such website and are not involved in any way in sponsoring, endorsing or otherwise involved in the establishment, maintenance or contents of the website.


The methodology of and rules governing the index (the "Index Methodology" and the "Index") are proprietary and shall not be reproduced or disseminated without the prior written consent of the “Index Sponsor” (as defined in the “Index Rules” available on of the Index Sponsor, the index calculation agent (where such party is not also the Index Sponsor, the "Index Calculation Agent") nor, where applicable, the index Investment Advisor (the "Index Investment Advisor") guarantee that there will be no errors or omissions in computing or disseminating the Index. The Index Methodology is based on certain assumptions, certain pricing models and calculation methods adopted by the Index Sponsor, the Index Calculation Agent and, where applicable, the Index Investment Advisor, and may have certain inherent limitations. Information prepared on the basis of different models, calculation methods or assumptions may yield different results. You have no authority to use or reproduce the Index Methodology in any way, and neither the Index Sponsor nor any of its affiliates shall be liable for any loss whatsoever, whether arising directly or indirectly from the use of the Index or Index Methodology or otherwise in connection therewith. The Index Sponsor reserves the right to amend or adjust the Index Methodology from time to time in accordance with the rules governing the Index and accepts no liability for any such amendment or adjustment. Neither the Index Sponsor nor the Index Calculation Agent are under any obligation to continue the calculation, publication or dissemination of the Index and accept no liability for any suspension or interruption in the calculation thereof which is made in accordance with the rules governing the Index. None of the Index Sponsor, the Index Calculation Agent nor, where applicable, the Index Investment Advisor accept any liability in connection with the publication or use of the level of the Index at any given time. The Index Methodology embeds certain costs in the strategy which cover amongst other things, friction, replication and repo costs in running the Index. The levels of such costs (if any) may vary over time in accordance with market conditions as determined by the Index Sponsor acting in a commercially reasonable manner. The Index Sponsor and its affiliates may enter into derivative transactions or issue financial instruments (together, the "Products") linked to the Index. The Products are not in any way sponsored, endorsed, sold or promoted by the sponsor of any index component (or part thereof) which may comprise the Index (each a "Reference Index") that is not affiliated with BNP Paribas (each such sponsor, a "Reference Index Sponsor"). The Reference Index Sponsors make no representation whatsoever, whether express or implied, either as to the results to be obtained from the use of the relevant Reference Index and/or the levels at which the relevant Reference Index stands at any particular time on any particular date or otherwise. No Reference Index Sponsor shall be liable (whether in negligence or otherwise) to any person for any error in the relevant Reference Index and the relevant Reference Index Sponsor is under no obligation to advise any person of any error therein. None of the Reference Index Sponsors makes any representation whatsoever, whether express or implied, as to the advisability of purchasing or assuming any risk in connection with the Products. The Index Sponsor and its affiliates have no rights against or recourse to any Reference Index Sponsor should any Reference Index not be published or for any errors in the calculation thereof or on any other basis whatsoever in relation to any Reference Index, its production, or the level or constituents thereof. The Index Sponsor and its affiliates shall have no liability to any party for any act or failure to act by any Reference Index Sponsor in connection with the calculation, adjustment or maintenance of the relevant Reference Index and have no affiliation with or control over any Reference Index or the relevant Reference Index Sponsor or the computation, composition or dissemination of any Reference Index. Although the Index Calculation Agent will obtain information concerning each Reference Index from publicly available sources that it believes reliable, it will not independently verify this information. Accordingly, no representation, warranty or undertaking (express or implied) is made and no responsibility is accepted by the Index Sponsor or any of its affiliates nor the Index Calculation Agent as to the accuracy, completeness and timeliness of information concerning any Reference Index. The Index Sponsor and/or its affiliates may act in a number of different capacities in relation to the Index and/or products linked to the Index, which may include, but not be limited to, acting as market-maker, hedging counterparty, issuer of components of the Index, Index Sponsor and/or Index Calculation Agent. Such activities could result in potential conflicts of interest that could influence the price or value of a Product.