Analyse/UBS ETF plc CMCI Composite

Dieser Rohstoff-ETF ist zwar breit diversifiziert, legt aber einen Schwerpunkt auf die Sektoren Energie und Agar. Ungeachtet steigender Korrelationen zu Aktien und Bonds sind Rohstoffe nach wie vor eine Diversifikations-Quelle.

Rolle im Portfolio

The UBS CMCI Composite SF UCITS ETF provides investors with commodity exposure across the energy, agriculture, industrial, precious metal, and livestock sectors.

Given its broad-basket exposure, this ETF offers the advantage of diversification within the commodity asset class. That said, investors should take note that due to its weighting methodology, the energy and agriculture sectors combined account for 60% to 65% of the total exposure gained through the reference index.

Broad basket exposure to commodities has traditionally been considered an excellent source of portfolio diversification, exhibiting low correlations with bonds and stocks. In line with modern portfolio theory, adding this exposure to a stock and bond portfolio has historically produced lower volatility and increased risk-adjusted returns. That said, recent years have seen a notable increase in correlations with the major equity and bond markets, which peaked in the face of the market turmoil in 2008. Though their portfolio diversification benefits are increasingly questionable, depending on their exposure to the energy sector, commodity broad baskets may be utilised as a portfolio hedge against rises in unexpected inflation within Europe.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

Um diesen Artikel zu lesen, müssen Sie sich anmelden

Hier kostenlos registrieren

Über den Autor

Morningstar ETF Analysts  research hundreds of ETFs available to European investors. The Morningstar Rating for ETFs is based on a risk-adjusted performance measure

Audience Bestätigung


Auf unserer Websites werden Cookies und andere Technologien verwendet. Damit können wir Ihre Präferenzen nachhalten und Ihnen eine optimale Nutzung unserer Website ermöglichen. Weitere Informationen finden Sie unter Cookie-Optionen.

  • Andere Websites Morningstar