DoubleLine Commodity Strategy ETF
DCMT
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- DoubleLine Commodity Strategy ETF (DCMT) is an actively managed exchange-traded fund that seeks total return over full market cycles through long-only exposures to a diversified basket of commodities across five major sectors: energy, industrial metals, precious metals, agriculture, and livestock. The fund draws its investment universe from all 24 commodities in the Bloomberg Commodity Index, overweighting the 10 commodities with the highest roll yield while underweighting the 14 with the lowest; within each commodity, it actively selects futures contracts along the curve to optimize returns via factors including carry, seasonality, and momentum. Collateral for these exposures primarily consists of U.S. Treasury bills and cash, with top commodity allocations including Brent Crude Oil (13.0%), WTI Crude Oil (11.1%), coffee (7.0%), live cattle (7.9%), and gold (9.6%). DCMT was launched on January 31, 2024, by DoubleLine ETF Trust, a series trust established by DoubleLine Capital LP, an investment management firm founded in 2009 and headquartered in Tampa, Florida. The fund, with net assets of approximately $22.8 million as of October 2025 and a gross expense ratio of 0.66%, trades on NYSE Arca and reports income via IRS Form 1099 rather than K-1; it is managed by Jeffrey Sherman, CFA, Eric Dhall, and Jeffrey Mayberry, who also oversee other DoubleLine ETFs. The ETF targets investors seeking broad commodity exposure without direct physical ownership, benchmarked against the Bloomberg Commodity Total Return Index. Recent developments include the addition of Eric Dhall as a portfolio manager effective December 31, 2024, enhancing the team's expertise in commodity strategies; as of October 2025, the fund delivered a 1-year market return of 7.88% and since-inception annualized return of 5.76%, supported by strong energy sector positioning amid volatile commodity markets. Launched alongside DoubleLine's Fortune 500 Equal Weight ETF in early 2024 as part of the firm's ETF platform expansion—which began with the DoubleLine ETF Trust in 2022—DCMT represents DoubleLine's entry into multi-factor commodity investing, with no reported acquisitions, partnerships, or funding rounds specific to the fund in 2024 or 2025.