Jump to ContentJump to Main Navigation
CommoditiesMarkets, Performance, and Strategies$
Users without a subscription are not able to see the full content.

H. Kent Baker, Greg Filbeck, and Jeffrey H. Harris

Print publication date: 2018

Print ISBN-13: 9780190656010

Published to Oxford Scholarship Online: March 2018

DOI: 10.1093/oso/9780190656010.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 15 October 2021

Commodity Mutual Funds

Commodity Mutual Funds

(p.250) 14 Commodity Mutual Funds

Gustavo Camilo

Oxford University Press

The chapter describes the main institutional features of commodity mutual funds, including active management, the assets in which these funds invest, the process through which shares are bought and sold, the fees borne by investors, as well as the risks associated with investing in the funds. It also examines trends in fund flows and the correlations to commodity returns. Correlations to commodity returns are positive but lower than those of commodity exchange-traded funds that invest directly in underlying commodities, as opposed to commodity mutual funds, which invest largely in equities. Lastly, the chapter examines data on fees and net-of-expense commodity mutual fund performance between 1996 and 2016. The data show a decline in fund expense ratios over time, with the exception of large funds, negative average risk-adjusted performance using a four-factor model, and evidence consistent with lack of persistence in fund returns over the sample period.

Keywords:   commodities, mutual fund, commodity mutual fund, fund performance, fund fees

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .