Fund Evaluator:
VanEck CM Commodity Index I (COMIX)
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Best Performing in Commodities Broad Basket Over the Last Year
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Fund Details
VanEck CM Commodity Index I Overview
VanEck CM Commodity Index I (COMIX) is a passively managed Commodities Commodities Broad Basket fund. VanEck launched the fund in 2010.
The investment seeks to track, before fees and expenses, the performance of the UBS Constant Maturity Commodity Total Return Index. The fund invests in instruments that derive their value from the performance of the UBS Constant Maturity Commodity Total Return Index, and in bonds, debt securities and other fixed income instruments issued by various U.S. public- or private-sector entities. The CMCI is a rules-based, composite benchmark index diversified across 29 commodity components from the following five sectors: energy, precious metals, industrial metals, agriculture and livestock.
About VanEck CM Commodity Index I (COMIX)
There are 2 members of the management team with an average tenure of 7.26 years: Roland Morris (2014), Christopher Mailloux (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and UBS Bloomberg CMCI Composite TR USD index with a weighting of 100%. VanEck CM Commodity Index I has 18 securities in its portfolio. The top 10 holdings constitute 72.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
VanEck CM Commodity Index I is part of the Real Assets global asset class and is within the Commodities fund group. VanEck CM Commodity Index I 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 42.2% (42.2% domestic bond, 0.0% foreign bond and 0.0% convertible bond). VanEck CM Commodity Index I has 33.8% of the portfolio in cash.
Assets Under Management
The fund has $123 million in total assets, which is below the $481 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.
COMIX 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 VanEck CM Commodity Index I expense ratio is above average compared to funds in the Commodities Broad Basket category. VanEck CM Commodity Index I has an expense ratio of 0.65%, which is 41% 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. A portfolio turnover rate cannot be currently calculated for VanEck CM Commodity Index I. By way of comparison, the average portfolio turnover is 73% for the Commodities Broad Basket category.
Recently, in the month of July 2026, VanEck CM Commodity Index I returned 6.3%, which earned it a grade of D, as the Commodities Broad Basket category had an average return of 6.9%. 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 funds in that category.
VanEck CM Commodity Index I has a trailing yield of 7.92%, which is below the 9.29% category average. The fund normally distributes its income 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.
VanEck CM Commodity Index I Grades
Year to date, the fund has returned 22.0%, 0.4 percentage points worse than the category, which translates into a grade of C. The fund has returned 27.9% over the past year (grade of F), 9.7% over the past three years (grade of F) and 10.5% per year over the past five years (grade of C) and 8.9% per year over the past 10 years (grade of A).
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COMIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| COMIX Return (NAV) | 6.3% | 0.1% | 27.9% | 9.7% | 10.5% | 8.9% |
| COMIX Grade | D | A | F | F | C | A |
| +/- Category | -0.6% | 4.5% | -6.3% | -2.4% | -0.2% | 1.2% |
| Commodities Broad Basket Avg | 6.9% | -4.4% | 34.2% | 12.1% | 10.7% | 7.8% |
| COMIX Tax Cost Ratio | na | na | 3.6% | 2.2% | 4.5% | 2.9% |
COMIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| COMIX Return (NAV) | 22.0% | 8.3% | 4.8% | -2.6% | 15.9% | 33.1% | 1.5% | 8.5% | -11.1% | 6.9% | 15.2% |
| COMIX Grade | C | F | C | A | B | B | B | C | A | B | B |
| +/- Category | -0.4% | -7.6% | -0.2% | 3.5% | 1.4% | 2.5% | 4.2% | -1.5% | 2.1% | 2.4% | 1.6% |
| Commodities Broad Basket Avg | 22.4% | 15.9% | 5.0% | -6.1% | 14.4% | 30.6% | -2.7% | 10.0% | -13.2% | 4.6% | 13.5% |
| Risk Measures | |
| Standard Deviation: | 10.1% |
| Total Risk Index: | 0.82 - Average |
| Category Risk Index: | 0.79 - Low |
| Category Risk Grade: | A (3% Rank) |
| Beta: | 0.69 |
| R-Squared: | 87% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 7.9% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $723 Mil |
| Fund Total Assets: | $ 123 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 0% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 12.3 years | |||
| Average Tenure: 7.3 years | |||
| Managers (Year): Morris Roland (2014), Mailloux Christopher (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 18 |
| % in Top 10 Holdings: | 72.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 42.2% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 24.0% |
| Cash: | 33.8% |
Purchase Information
| Fund Family: | VanEck |
| Phone Number: | 800-544-4653 |
| Website: | www.vaneck.com |
| Status: | Open |
| Inception Date: | December 31, 2010 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 0.65% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.10% |
| Share Class: | VanEck CM Commodity Index I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
