Two other much smaller funds are also in this category, UBC (UBS E-TRACS CMCI Livestock Total Return ETN, Expense Ratio 0.65%) and LSTK (iPath Pure Beta Livestock, Expense Ratio 0.75%). LSTK barely trades (averages 930 shares daily), and has a paltry $2.2 million in assets under management, while UBC is only slightly bigger in fund size and no more prominent.
This sub-sector is clearly a niche within the larger “Commodity” space, but likely suffers from lack of awareness to a large degree outside of and even possibly among those managers that are running commodity pure strategies using ETPs and/or futures, and the small sizes of the related ETPs here likely scares of potential larger institutional allocations due to misconceptions about trading volume/liquidity and fund sizes in terms of AUM. However, someone in COW is paying attention as the fund traded more than 300,000 shares in one session alone just five sessions ago.
iPath DJ-UBS Livestock Total Return Sub-Index ETN
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