On June 16, Harbor Capital Advisors launched the Harbor Active Commodity ETF (ACOM). With an expense ratio of 93 basis points, this fund provides actively managed exposure to commodity instruments with a focus on high expected inflation and low cost of carry.
CMDT is a relatively new actively managed commodity ETF that uses derivatives to achieve desired exposures. Since inception, CMDT has outperformed the Bloomberg Commodity Index. However, Q1 2025 saw underperformance due to specific sector allocations, notably underweight natural gas. The fund managers seem confident in their convictions, and are comfortable deviating substantially from the sector weights of the Bloomberg Commodity Index.