The investment seeks to provide investment results that correlate to the performance of a benchmark for commodities.
The fund seeks to achieve its investment objective by investing primarily in a combination of securities, such as exchanged-traded notes, affiliated and unaffiliated exchanged traded funds, affiliated and unaffiliated mutual funds, commodity index-linked notes and commodity-linked structured notes, and derivatives that, as a whole, are expected to produce returns that closely track those of a commodity market benchmark. It will invest up to 25% of its total assets in a wholly-owned and controlled subsidiary.
The investment seeks to track, before fees and expenses, the performance of the UBS Bloomberg Constant Maturity Commodity Total Return Index.
The fund invests in instruments that derive their value from the performance of the UBS Bloomberg Constant Maturity Commodity Total Return Index, and in bonds, debt securities and other fixed income instruments issued by various U.S. public-sector or private-sector entities. It invests in commodity-linked derivative instruments, including commodity index-linked notes, swap agreements, commodity futures contracts and options on futures contracts. The fund is non-diversified.