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CommoditiesMarkets, Performance, and Strategies$
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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

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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: 06 December 2021

Issues in Benchmarking Commodity Performance

Issues in Benchmarking Commodity Performance

Chapter:
(p.315) 17 Issues in Benchmarking Commodity Performance
Source:
Commodities
Author(s):

Aaron Filbeck

Publisher:
Oxford University Press
DOI:10.1093/oso/9780190656010.003.0017

Commodity investments have continued to gain traction in diversified portfolios since the 1990s. Historically low correlations relative to traditional asset classes, different fundamental drivers, and investor demand for alternative sources of return have brought commodity investments forward as a solution that provides overall portfolio diversification while maintaining similar long-term return streams. A large inflow of institutional investors and noncommercial traders has increased demand and lowered barriers to entry. Many of these investors simply want exposure to commodities as an asset class, often investing in index funds or exchange-traded funds (ETFs). In some cases, investors assume that the underlying commodity indexes that these investment vehicles track represent appropriate benchmarks asset class performance. In reality, the many different commodity indexes available make benchmarking asset class performance more difficult.

Keywords:   commodities, diversification, commodity index, benchmarking, performance

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