WisdomTree Broad Commodities UCITS ETF – USD Acc
The Fund seeks to track the performance, before fees and expenses of the Bloomberg Commodity Total Return Index using an innovative replication method which includes direct exposure to spot prices for the precious metals portion of the index. Learn more about the Index that PCOM is designed to track.
- Designed to track the BCOM index, which is a diversified benchmark index for broad commodity exposure
- Direct exposure to physical precious metals allows the Fund to reduce roll cost on the precious metals portion of the BCOM index, potentially improving performance versus full swap-based replication
- Swap portion of the portfolio is guaranteed by high quality collateral (e.g., G7 government bonds)
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 to which the fund may be exposed through physical replication
- An investment in commodities may experience high volatility and should be considered as a longer-term investment
- This list does not cover all risks-further risks are disclosed in the KIID and Prospectus
Overview
| Product Overview | |
|---|---|
| Use of Income | Accumulating |
| Dividend Frequency | N/A |
| Base Currency | USD |
| Inception Date | 29 Nov 2021 |
| Exchange Ticker | PCOM/COMX |
| Index Name | Bloomberg Commodity Index |
| TER | 0.19% |
| Annual Swap Rate | 0.10%* |
| Structure | |
|---|---|
| Replication Method | Physical precious metals ETCs and T-Bills with swap overlay |
| Legal Form | Irish Collective Asset-management Vehicle (ICAV) |
| Fund Umbrella | WisdomTree Issuer ICAV |
| Domicile | Ireland |
| Structure | Open-ended Exchange Traded Fund |
| Financial Year End | 31 December |
| UCITS Compliant | Compliant |
| Further Legal and Tax Information | |
|---|---|
| ISA | Eligible |
| SIPP | Eligible |
| UCITS Eligible | Eligible |
| PEA Eligible | No |
| Key Service Providers | |
|---|---|
| Custodian | The Bank of New York Mellon SA/NV, Dublin Branch |
| Administrator | BNY Mellon Fund Services (Ireland) Designated Activity Company |
| Fund Manager | Assenagon Asset Management S.A |
| Auditor | Deloitte Ireland LLP |
Austria
Denmark
Finland
France
Germany
Ireland
Italy
Luxembourg
Netherlands
Norway
Spain
Sweden
Switzerland
United Kingdom
Listings & Codes
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Benchmark Composition
Sector Breakdown
Fund Holdings
| Security | Weight |
|---|---|
| 1. "Wisdomtree Core Physical Gld (BN2CJ30)" | 8.48% |
| 2. "US Treasury Bill (BT9R101)" | 7.31% |
| 3. "US Treasury Bill (BTY4Z50)" | 7.09% |
| 4. "US Treasury Bill (BVBFK11)" | 7.09% |
| 5. "US Treasury Bill (BSSBJ03)" | 6.79% |
| 6. "US Treasury Bill (BTPGTR5)" | 6.69% |
| 7. "US Treasury Bill (BV3PBJ4)" | 6.24% |
| 8. "US Treasury Bill (BVPJDQ5)" | 6.22% |
| 9. "US Treasury Bill (BT3F9K7)" | 6.14% |
| 10. "US Treasury Bill (BVN7R03)" | 5.38% |
| 11. "US Treasury Bill (BRT7WS2)" | 5.28% |
| 12. "US Treasury Bill (BVMNBH7)" | 5.24% |
| 13. "US Treasury Bill (BV2FL84)" | 3.96% |
| 14. "GOLD BULLION SECURITIES LTD" | 3.95% |
| 15. "US Treasury Bill (BTWQYX9)" | 3.28% |
| 16. "US Treasury Bill (BTMT074)" | 3.27% |
| 17. "WISDOMTREE COR PHYSCL SILVER" | 3.14% |
| 18. "US Treasury Bill (BVCJP39)" | 2.26% |
| 19. "" | 1.93% |
| 20. "CASH W-O" | 0.29% |
| 21. "EURO INCOME A/C" | 0.00% |
Index Details
Bloomberg Commodity Index
The Bloomberg Commodity Index (“BCOM” or the “Index”) is designed to be a highly liquid and diversified benchmark for commodity investments. BCOM provides broad-based exposure to commodities, and no single commodity or commodity sector dominates the Index. Rather than being driven by micro-economic events affecting one commodity market or sector, the diversified commodity exposure of BCOM potentially reduces volatility in comparison with non-diversified commodity investments. The Index covers 4 broad commodity sectors: Energy, Agriculture, Industrial Metals and Precious Metals.
Currently, the Index is made up of commodity futures contracts weighted to account for economic significance and market liquidity. BCOM is rebalanced annually on a price-percentage basis to maintain diversified commodities exposure over time.
| Index Details | |
|---|---|
| Index Name | Bloomberg Commodity Index |
| Currency | USD |
| Index Provider | Bloomberg |
| Bloomberg Ticker | BCOMTR |
| Leverage Factor | N/A |
| Documents and Links |
|---|
| Security | 03 Jun 2026 |
|---|---|
| 1. Gold | 14.18% |
| 2. Brent Crude | 11.20% |
| 3. WTI Crude Oil | 9.43% |
| 4. Copper | 5.69% |
| 5. Silver | 5.23% |
| 6. Natural Gas | 4.86% |
| 7. Gasoil | 4.86% |
| 8. Soybeans | 4.72% |
| 9. Aluminium | 4.22% |
| 10. Soybean Oil | 4.06% |
| 11. Corn | 3.82% |
| 12. Heating Oil | 3.67% |
| 13. Live Cattle | 3.38% |
| 14. Unleaded Gasoline | 2.77% |
| 15. Soybean Meal | 2.47% |
| 16. Chicago Wheat | 2.19% |
| 17. Zinc | 2.10% |
| 18. Sugar | 2.03% |
| 19. Nickel | 1.96% |
| 20. Coffee | 1.85% |
| 21. Kansas Wheat | 1.47% |
| 22. Cotton | 1.31% |
| 23. Lean Hogs | 1.31% |
| 24. Lead | 0.69% |
| 25. Cocoa | 0.53% |
Responsible Investing
SFDR Disclosure
The EU Sustainable Finance Disclosures Regulation (SFDR) took effect on 10 March 2021 as part of the EU Action Plan on Sustainable Finance. The SFDR lays down harmonised sustainability related disclosure rules for EU financial market participants and advisors and requires certain sustainability disclosures to be made for financial products which promote environmental or social characteristics (Article 8 SFDR) and funds which have a sustainable investment objective (Article 9 SFDR).
There are different SFDR product categorisations for these sustainability disclosure requirements:
+ Article 6 products: require disclosures relating to the manner in which sustainability risks are integrated into the decision-making process.
+ Article 8 products: promote, among other characteristics, environmental or social characteristics or a combination of those characteristics, provided that the companies in which the investments are made follow good governance practices.
+ Article 9 products: have sustainable investment as their objective
Please refer to EU regulation guidelines for more details: https://www.esma.europa.eu/sections/sustainable-finance
| SFDR categorisations | |
|---|---|
| SFDR Disclosure | Article 6 |
| Sustainability Characteristics | |
|---|---|
| MSCI ESG Fund Ratings (AAA-CCC) | A |
Collateral Details
Collateral Structure
Replicating Exposure to Commodities Through a Swap
The Fund aims to track the Bloomberg Commodity Index (the “Index”). The Fund gains indirect exposure to the energy, agriculture and industrial metals constituents of the Index through the use of swaps on a version of the Index which excludes precious metals, namely the Bloomberg Commodity ex-Precious Metals Index. The Fund also invests into exchange traded notes or certificates that are listed or traded on a Regulated Market in order to gain indirect exposure to the precious metal components of the Index. The Fund also holds a portfolio of short-term US T-bills.
Structure Diagram
Counterparty Risk Management
Counterparty risk is primarily managed through the daily exchange of collateral between the Fund and its swap provider(s) (also referred to as the swap counterparty).
The value of the collateral required is based on a daily calculation of counterparty exposure using the prior day’s mark-to-market of the swaps and any unsettled cash flowing between the Fund and the swap provider.
Assets posted as collateral 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 the bonds posted as collateral, a haircut is applied to each bond's value based on the issuing country and the bond's maturity. 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”.
Documents
Other Documents
Prospectus
DISCLAiMERS
The products discussed in this document are issued by WisdomTree Issuer ICAV (“WT Issuer”). WT Issuer is an umbrella investment company with variable capital having segregated liability between its funds organised under the laws of Ireland as an Irish Collective Asset-management Vehicle and authorised by the Central Bank of Ireland (“CBI”). WT Issuer is organised as an Undertaking for Collective Investment in Transferable Securities (“UCITS”) under the laws of Ireland and shall issue a separate class of shares ("Shares”) representing each fund.
The Fund is described in a Key Information Document (KID) or Key Investor Information Document (KIID) for UK investors, and the prospectus of WT Issuer (“WT Prospectus”). A copy of the WT Prospectus and the KID / KIID is available, for EEA/UK only, in English at www.wisdomtree.eu. Where required under national rules, the KID will also be available in the local language of the relevant EEA Member State. Investors should read the WT Prospectus before investing and should refer to the section of the WT Prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in the Shares.
The summary of investor rights associated with an investment in the fund is available in English on WisdomTree Europe’s website. WisdomTree Management Limited may decide to terminate the arrangements made for the marketing of its collective investment undertakings. In such circumstances, shareholders in the affected EEA Member State will be notified of this decision and will be provided with the opportunity to redeem their shareholding in the fund free of any charges or deductions for at least 30 working days from the date of such notification.
“Bloomberg®” and the Bloomberg Commodity Index(es)SM referenced herein are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the indices (collectively, “Bloomberg”) and have been licensed for use for certain purposes by WisdomTree UK Limited and its permitted affiliates including WisdomTree Management Limited and WisdomTree Issuer ICAV (together, WisdomTree). Bloomberg is not affiliated with WisdomTree, and Bloomberg does not approve, endorse, review, or recommend the WisdomTree Broad Commodities UCITS ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the index(es).