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KCCA vs WEAT

KraneShares California Carbon Allowance Strategy ETF

KCCADNYSE Arca

Teucrium Wheat Fund

WEATBNYSE Arca

Overlap

Expense ratio

WEAT −0.33pt a year

KCCA0.95%WEAT0.62%

Avg volume · 30D

WEAT 22.3×the volume

KCCA24.1KWEAT538K

5Y return · a year

KCCA +7.1pt

KCCA−2.9%WEAT−10.0%

KCCA vs WEAT Performance

Oct 29, 2021 – Oct 30, 2026

−13.8%KCCA−41.0%WEAT

Oct 29, 2021 to Oct 30, 2026. KCCA −13.8%. WEAT −41.0%. Use the arrow keys to read each point.0%20%40%Oct 2021Apr 2024Oct 2026
Expense ratio
KCCA 0.95%
WEAT 0.62%, better
Fund size
KCCA $121M
WEAT $234M
1Y total return
KCCA −0.6%
WEAT +4.7%, better
Yield (12M)
KCCA 2.85%
WEAT No data
Holdings
KCCA 3
WEAT 31
Avg volume (30D)
KCCA 24.1K sh
WEAT 538K sh, better
NAV per share
KCCA $17.04
WEAT $22.21
52W range

ETF.net Grade

KCCA: Cost 16, Risk 32, Mission not scored, Tradability 45, Holdings 39, Durability 55. WEAT: Cost 76, Risk 26, Mission not scored, Tradability 84, Holdings not scored, Durability 61.
Pillar letters and Scores for KCCA, WEAT, with each pillar’s weight
PillarKCCAWEAT
Cost30% weightF16A76Higher
Mission25% weightNot scoredNot scored
Risk15% weightD32HigherD26
Tradability15% weightC45A84Higher
Holdings10% weightD39Not scored
Durability5% weightB55B61Higher

Rank among Commodity Futures funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. KCCA and WEAT are both graded against the same 13 Commodity Futures funds, so their Grades compare head to head.

Commodity Futures⁠

Category · 13 funds
See all 13 ›

WEAT ranks 2nd and KCCA 11th of 13 funds in the Commodity Futures Category.

  1. Rank 1APDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETFScore 84
  2. Rank 2BSOYBTeucrium Soybean FundScore 65
  3. Rank 2BWEATTeucrium Wheat FundScore 65
  4. Rank 4BCMDTPIMCO Commodity Strategy Active Exchange-Traded FundScore 64
  5. Rank 9CUSEUSCF Energy Commodity Strategy Absolute Return FundScore 40
  6. Rank 11DKCCAKraneShares California Carbon Allowance Strategy ETFScore 29
  7. Rank 12FCCOMSimplify Chinese Commodities Strategy No K-1 ETFScore 22

Our read on each fund

ETF.net Research

KCCADKraneShares California Carbon Allowance Strategy ETF

WEATBTeucrium Wheat Fund

In short

KCCA Most commodity funds ride weather and geology. KCCA tracks futures on California carbon allowances, a market where supply is set by state regulators and the auction floor price ratchets up 5% plus inflation every year.

WEAT Wheat, straight up. Since 2011 this Teucrium fund has given brokerage-account investors pure-play exposure to CBOT wheat futures, laddered across three contract months rather than piled into the front month.

Stated mandate

KCCA KCCA provides targeted exposure to California Carbon Allowances through the cap-and-invest market and is benchmarked to an index tracking actively traded CCA futures.

WEAT The fund seeks cost-effective price exposure to the wheat market through futures for future delivery.

Why people hold it

  • KCCA A pure play, not a blend: the fund is benchmarked to an index of the most traded California carbon allowance futures, giving you one compliance market rather than a mixed commodity basket.kraneshares.comsec.gov
  • The supply side is written into regulation. California's allowance cap declines over time toward the state's 2045 carbon-neutrality goal, and the program's auction floor price rises 5% plus CPI each year.sec.govcongress.gov
  • Running since 2021 and part of a dedicated KraneShares carbon lineup spanning global, European, California and Eastern US programs. The California sleeve is a deliberate slice, not a one-off launch.sec.gov
  • WEAT Costs 0.62% a year, under the typical fee for futures-based commodity funds. Cheap matters most when the thing you own throws off no income.
  • The benchmark splits across three CBOT contracts: 35% second-to-expire, 30% third-to-expire, 35% the following December. Roll risk gets spread down the curve, not stacked on one month.teucrium.com
  • Wheat exposure without a futures account: no margin posting, no roll management, no contract expiries on your calendar. Buy it like a stock, sell it like a stock.teucrium.com
  • Among futures-based commodity funds, one of the stronger overall packages on cost and structure.

Worth knowing

  • KCCA The 0.95% fee sits above the typical futures-based commodity fund, where diversified baskets like PDBC (0.74%) and DBB (0.81%) charge less. Specialist access carries a specialist price.
  • One market, one rule-maker. Pricing turns on California regulators, auction outcomes and legislation, so this reacts to Sacramento policy news rather than global commodity cycles.congress.govsec.gov
  • Thinly traded next to the big commodity ETFs, so spreads and order size deserve a look. It also holds futures through a Cayman subsidiary and is regulated as a commodity pool.kraneshares.com
  • WEAT It is a commodity pool taxed as a partnership, so shareholders get a Schedule K-1 with Section 1256 treatment (60% long-term, 40% short-term), not a 1099.teucrium.com
  • The fund tracks wheat futures, not the spot price. When the curve slopes against you, returns can drift from the wheat headlines you read.teucrium.com
  • One crop, one market, and weather sets the price. Swings here run hot compared with diversified commodity baskets, and the fund is built for price exposure, not income.

Full KCCA profile⁠

Full WEAT profile⁠

KCCA vs WEAT Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

KCCA vs WEAT Cost

Overpaying KCCA vs WEAT

$5,690

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • KCCA 0.95%

    $17,869

  • WEAT 0.62%

    $12,179

$10,000
30 years

Cost over time

  • KCCA 0.95%
  • WEAT 0.62%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530KCCA $17,869WEAT $12,179

Year by year

YearKCCAWEATOverpaying
10$1,678$1,111$567
20$6,322$4,246$2,076
30$17,869$12,179$5,690

Expense ratio

  • 0.95%KCCA
  • 0.62%WEAT, cheaper
  • Middle half of Commodity Futures funds
  • Median 0.79%

WEAT 4th cheapest of 13 funds

KCCA 11th cheapest of 13 funds

KCCA vs WEAT Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
KCCA 2.85%
WEAT No data
Payout (12M)
KCCA $0.48
WEAT None
Last payment
KCCA $0.48
WEAT No data
Ex-dividend
KCCA Dec 22, 2025
WEAT No data
Paid on
KCCA Dec 23, 2025
WEAT No data
Frequency
KCCA Annual
WEAT No data

Distribution history

Per share, 2022 to 2026, same scale for both

KCCAAnnual · 6 paymentsAll KCCA payments⁠
One bar per payment. 6 payments from 2022 to 2026 YTD. Dec 28, 2022 $0.06; Jun 28, 2023 $0.20; Dec 18, 2023 $0.74; Jun 27, 2024 $5.03; Dec 17, 2024 $0.97; Dec 22, 2025 $0.48. Use the arrow keys to read each point.$0$520232026YTD
WEATAll WEAT payments⁠

No distribution history available.

KCCA vs WEAT Risk

Fall from peak · 5 years

  • KCCA
  • WEAT
Oct 29, 2021 to Oct 30, 2026. Worst fall: WEAT −67.8% · Dec 2025. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
KCCA 19.3%, betterWEAT 22.0%
Return per unit of riskSharpe ratio, 3 years
KCCA −0.56WEAT −0.46, better
Worst fallMax drawdown, 5 years
KCCA −41.1%, betterWEAT −67.8%
Market sensitivityBeta, 5 years
KCCA −0.14WEAT 0.68

KCCA and WEAT in the news

All news⁠

Popular comparisons

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