COM vs COMB

COMCDirexion Auspice Broad Commodity Strategy ETF

COMBAGraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF

In short

COM Most broad commodity funds ride the whole basket down through every slump. COM tracks a rules-based index that holds a commodity while its trend holds and steps to cash when it doesn't, one market at a time.

COMB The cheapest ticket in the K-1-free commodity aisle: 0.25% for a broad basket of energy, metals, grain and livestock futures, wrapped so your tax packet is a Form 1099 instead of a Schedule K-1.

Stated mandate

COM The fund seeks investment results that track the Auspice Broad Commodity Index. The index uses rules-based long-or-cash positioning across commodity futures and seeks to capture upside while mitigating downside risk.

COMB The fund seeks long-term capital appreciation mainly through exposure to commodity futures markets.

Why people hold it

• COM The index is long-or-cash by rule across commodity futures, designed to capture upside while limiting downside, rather than staying fully invested through every slide.
• Registered under the 1940 Act, so shareholders get standard fund tax reporting instead of a K-1 partnership form.
• Live since 2017 and sitting in the upper half of a crowded broad-commodity futures peer group, so the trend rules have run through several full commodity cycles.
• Pays distributions quarterly, a cadence set by the fund rather than by whatever commodities did last month.

• COMB At 0.25%, the lowest fee among the category's top-scoring broad commodity funds (BCI 0.26%, CERY 0.28%, CMDY 0.29%, BCD 0.30%) and below the category median.
• Gains its futures exposure through a wholly owned Cayman subsidiary, so the fund is designed to be taxed like a conventional fund and issue a 1099, not a K-1.sec.gov
• Benchmarked to the Bloomberg Commodity Index: about 30 positions across energy, metals, agriculture and livestock, with index rules capping any commodity group at 33%.bbhub.io
• Live since 2017, long enough to have run through a full commodity boom and bust, and it sits in the top quartile of its peer group.

Worth knowing

• COM 0.72% a year, above the category median. Always-long index baskets like BCI (0.26%) and BCD (0.30%) charge a fraction of that for plain commodity exposure.
• Trend rules cut both ways: in choppy or sharply reversing markets, a commodity can be sitting in cash while its price snaps back.
• A mid-size, moderately traded fund, so spreads can run wider than at the category's largest names. Limit orders matter more here.

• COMB Thinly traded next to the category's household names, so spreads can widen. Matters most on bigger orders.
• Returns ride the futures curve, not spot prices. Rolling contracts forward can add to or subtract from the move in a commodity's headline price.graniteshares.com
• Actively managed rather than a strict index clone, with Treasury bills as collateral and cash paid out annually or semiannually, not monthly.graniteshares.com

Full COM profile⁠

Full COMB profile⁠