VanEck CM Commodity Index Fund Class A
CMCAX
NASDAQ- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 666 Third Avenue, 9th Floor New York NY United States of America 10017
- IPO Date
- Dec 31, 2010
- CIK
- 0000768847
- Website
- vaneck.com
- Similar Companies
- Business
- VanEck CM Commodity Index Fund Class A (CMCAX) is a passively managed mutual fund that seeks to track, before fees and expenses, the performance of the UBS Constant Maturity Commodity Total Return Index (CMCI), a diversified commodity benchmark that allocates across multiple futures maturities to minimize front-end curve exposure and mitigate negative roll yield in contango markets. The fund invests primarily in commodity-linked derivative instruments, including futures contracts and swaps tied to 29 commodities across five sectors—energy (approximately 31%), agriculture (30%), industrial metals (26%), precious metals (7%), and livestock (5%)—supplemented by conservative fixed-income securities such as U.S. Treasury Bills for collateral and liquidity. It offers investor-friendly features like no K-1 tax forms, with Class A shares carrying a net expense ratio of 0.95% (gross 1.31%), a maximum 5.75% front-end sales load, and net assets of approximately $598 million as of late 2025. The fund, which commenced operations on December 31, 2010, is managed by VanEck, a New York-headquartered asset manager founded in 1955 with $161.7 billion in global assets under management as of September 30, 2025 and operations spanning the United States, Europe, Asia, Australia, and Latin America. VanEck provides the CM Commodity Index Fund across multiple share classes, including Class I (COMIX, 0.65% net expense ratio) and Class Y (CMCYX, 0.70% net expense ratio), targeting individual investors, institutions, endowments, and financial advisors seeking broad commodity exposure without direct physical ownership or complex tax reporting. The strategy emphasizes constant maturity exposure averaging 6.3 months per commodity contract, promoting improved roll returns relative to traditional front-month indices like the Bloomberg Commodity Index. In recent years, the fund implemented a reverse share split in 2023 to adjust unit pricing and enhance trading efficiency. VanEck Funds underwent a name change from Van Eck Funds to VanEck Funds effective May 1, 2016, reflecting the firm's rebranding amid expansion into ETFs, digital assets, and emerging markets. As of 2025, the firm continues portfolio refinements, with year-to-date returns for Class A at NAV reaching 6.63% through December 9 amid volatile commodity markets, supported by ongoing management by professionals including Roland Morris (since 2014) and Christopher Mailloux (since 2024).