WisdomTree Unveils Commodity Carry ETC

WisdomTree, a global financial innovator, has expanded its commodity ETP range with the launch of a market-neutral strategy. The WisdomTree Enhanced Commodity Carry ETC (CRRY), listed today on Börse Xetra and Borsa Italiana with a management fee (MER) of 0.40%. The ETC will list on the London Stock Exchange on 1 May 2025.

The WisdomTree Enhanced Commodity Carry ETC seeks to track the price and yield performance, before fees and expenses, of the BNP Paribas Enhanced Commodity Carry ER Index. The index is designed to capture the difference in carry costs between different points on the futures curve by providing 3x leveraged exposure to the difference between the long leg and the short leg. The short leg replicates the BCOM¹ ex precious metals index, and the long leg is a basket of single commodities rolling futures indices whose weight mirrors the BCOM ex precious metals index, selecting contracts with up to 12 months to expiry.

In commodity futures markets, the cost of carry is the difference between the futures price and the spot price. It usually reflects the costs (storage, financing, etc.) and benefits, along with predicted market sentiment and risk premium, associated with holding the commodity until contract expiration.

Commodity carry strategies provide a systematic way to capture returns from the structure of commodity futures curves, rather than relying on price movements of the underlying commodities themselves. It offers diversified exposure across a spectrum of commodities, helping to smooth returns and manage volatility. In disrupted markets, it’s an approach that can generate non-correlated returns and strengthen portfolio resilience.

Nitesh Shah, Head of Commodities and Macroeconomic Research, Europe, WisdomTree, said: “In an environment shaped by persistent inflation, policy uncertainty, and fragmented supply chains, carry strategies offer a differentiated and scalable return source. By focusing on the shape of futures curve, rather than spot price forecasts, they provide uncorrelated exposure that can improve diversification and complement both core fixed income and alternative allocations.”

Alexis Marinof, CEO, Europe, WisdomTree, added: “We continue expanding our market-leading commodity ETP range with innovative strategies. Investors are looking for uncorrelated sources of return and this launch reflects their evolving needs. WisdomTree’s long-standing leadership in the commodity space enables us to anticipate market shifts and deliver forward-thinking, research-driven solutions. Every product we bring to market is designed to offer precision, transparency, and meaningful exposure to help clients build well-diversified portfolios.”

WisdomTree is the leading commodity ETP provider in Europe offering over 120 commodity ETPs and managing over $25bn across its commodity range².

Product information

Sources

¹ BCOM refers to the Bloomberg Commodity Index

² WisdomTree, as of 17 April 2025