ETF Evaluator:
GraniteShares Blmbrg CmdtyBrdStr NoK1ETF (COMB)
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(as of Jul 31)
Best Performing in Commodities Broad Basket Over the Last Year
| 40.7% | VanEck Commodity Strategy ETF (PIT) |
| 34.5% | DB Commodity Long ETN (DPU) |
| 30.7% | First Trust Global Tact Cmdty Strat ETF (FTGC) |
| 29.8% | Harbor Commodity All-Weather StrategyETF (HGER) |
| 29.4% | Neuberger Commodity Stgy ETF (NBCM) |
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ETF Details
GraniteShares Blmbrg CmdtyBrdStr NoK1ETF Overview
GraniteShares Blmbrg CmdtyBrdStr NoK1ETF (COMB) is an actively managed Commodities Commodities Broad Basket exchange-traded fund (ETF). Graniteshares launched the ETF in 2017.
The investment seeks to provide long-term capital appreciation, primarily through exposure to commodity futures markets.
The fund is an actively managed ETF that seeks to provide long-term capital appreciation, primarily through exposure to commodity futures markets. While the fund generally will seek exposure to the commodity futures markets included in the COMB Benchmark, it is not an index tracking ETF and will seek to enhance its performance, in part through a cash management strategy consisting of investments in investment grade fixed income securities. The fund is non-diversified.
About GraniteShares Blmbrg CmdtyBrdStr NoK1ETF (COMB)
There are 2 members of the management team with an average tenure of 5.38 years: Jeff Klearman (2017) and Ryan Dofflemeyer (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg Commodity TR USD index with a weighting of 100%. GraniteShares Blmbrg CmdtyBrdStr NoK1ETF has 3 securities in its portfolio. The top 10 holdings constitute 89.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
GraniteShares Blmbrg CmdtyBrdStr NoK1ETF is part of the Real Assets global asset class and is within the Commodities ETF group. GraniteShares Blmbrg CmdtyBrdStr NoK1ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). GraniteShares Blmbrg CmdtyBrdStr NoK1ETF has 100.0% of the portfolio in cash.
Assets Under Management
The fund has $121 million in total assets, which is below the $728 million average for the Commodities Broad Basket category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
COMB Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The GraniteShares Blmbrg CmdtyBrdStr NoK1ETF expense ratio is below average compared to funds in the Commodities Broad Basket category. GraniteShares Blmbrg CmdtyBrdStr NoK1ETF has an expense ratio of 0.25%, which is 62% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. GraniteShares Blmbrg CmdtyBrdStr NoK1ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 23% for the Commodities Broad Basket category.
Recently, in the month of June 2026, GraniteShares Blmbrg CmdtyBrdStr NoK1ETF returned -8.6%, which earned it a grade of C, as the Commodities Broad Basket category had an average return of -7.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
GraniteShares Blmbrg CmdtyBrdStr NoK1ETF has a trailing yield of 7.94%, which is above the 5.45% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
GraniteShares Blmbrg CmdtyBrdStr NoK1ETF Grades
Year to date, the ETF has returned 14.0%, 0.0 percentage points better than the category, which translates into a grade of D. The fund has returned 25.1% over the past year (grade of C), 11.3% over the past three years (grade of D) and 8.8% per year over the past five years (grade of D).
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COMB Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| COMB Return (NAV) | -8.6% | -8.2% | 25.1% | 11.3% | 8.8% | na |
| COMB Return (Price) | -8.7% | -8.3% | 25.0% | 11.3% | 8.8% | na |
| NAV +/- Price Return | 0.063% | 0.081% | 0.035% | -0.065% | 0.079% | na |
| Commodities Broad Basket Avg | -7.8% | -6.4% | 24.6% | 13.0% | 10.4% | 7.2% |
| COMB Grade (NAV) | C | F | C | D | D | na |
| +/- Category (NAV) | -0.9% | -1.8% | 0.5% | -1.7% | -1.6% | na |
| COMB Tax-Cost Ratio | na | na | 3.4% | 2.2% | 4.4% | na |
COMB Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| COMB Return (NAV) | 14.0% | 15.5% | 5.0% | -8.4% | 15.2% | 26.8% | -3.4% | 7.4% | -11.8% | na | na |
| COMB Return (Price) | 14.1% | 15.3% | 5.2% | -8.5% | 14.8% | 26.5% | -2.9% | 7.0% | -11.4% | na | na |
| NAV +/- Price Ret | 0.007% | -0.009% | 0.055% | 0.012% | -0.024% | -0.012% | -0.129% | -4.9% | -3.4% | na | na |
| Commodities Broad Basket Avg | 13.9% | 15.5% | 7.4% | -4.2% | 15.9% | 31.9% | -4.8% | 7.3% | -10.7% | 5.9% | 11.7% |
| COMB Grade (NAV) | D | C | D | F | D | F | C | D | D | na | na |
| +/- Category | 0.0% | -0.1% | -2.4% | -4.2% | -0.7% | -5.1% | 1.4% | 0.1% | -1.1% | na | na |
| Risk Measures | |
| Beta: | 1.00 |
| R-Squared: | 100% |
| Standard Deviation: | 13.3% |
| Category Risk Index: | 0.93 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.10 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 7.9% |
| Total Assets: | $ 121 Mil |
| Share Class Assets: | $ 121 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.25% |
| Index Fund: | No |
| Index Tracked: | Bloomberg Commodity TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 9.0 years | |||
| Average Tenure: 5.4 years | |||
| Managers (Year): Klearman Jeff (2017), Dofflemeyer Ryan (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 3 |
| % in Top 10 Holdings: | 89.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 100.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Graniteshares |
| Phone Number: | 844-476-8747 |
| Website: | |
| Inception Date: | May 19, 2017 |
Expenses and Fees
| Expense Ratio (%): | 0.25% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.66% |
