OD7IWisdomTree Heating Oil
ISIN: GB00B15KXY630,49%
Management Fee (MER)
As of 3/7/2026
22 September 2006
Inception Date
US$3,588,044
Fund AUM
As of 3/7/2026
USD
Base currency
Overview
Product Description
WisdomTree Heating Oil is a fully collateralised, UCITS eligible Exchange Traded Commodity (ETC) designed to provide investors with a total return exposure to Heating Oil futures contracts. The ETC aims to replicate the Bloomberg Commodity Heating Oil Subindex 4W Total Return Index (BCOMHO4T) by tracking the Bloomberg Heating Oil Sub Excess Return Index and providing the interest revenue adjusted to reflect fees and costs associated with the product. For example, if the Bloomberg Commodity Heating Oil Subindex 4W Total Return Index rises by 1% over a day, then the ETC will rise by 1%, excluding fees. However if the Bloomberg Commodity Heating Oil Subindex 4W Total Return Index falls by 1% over a day, then the ETC will fall by 1%, excluding fees.
Potential Risks
- An investment in an ETP involves a degree of risk. Any decision to invest should be based on the information contained in the relevant prospectus. Prospective investors should obtain independent accounting, tax and legal advice and should consult their professional advisers to ascertain the suitability of this ETP as an investment to their own circumstances.
- This ETP is structured as a debt security and not as shares (equity) and can be created and redeemed on demand by authorised participants and traded on exchange just like shares in a company. This ETP is not a UCITS product.
- Market Risk: The value of securities in this ETP is directly affected by increases and decreases in the value of the Index. Accordingly, the value of a security may go up or down and a security holder may lose some or all of the amount invested but can not lose more than the amount invested.
- Liquidity risk: There can be no certainty that securities can always be bought or sold on a stock exchange or that the market price at which the securities may be traded on a stock exchange will always accurately reflect the performance of the Index.
- Counterparty risk: The Issuer is reliant on there being swap counterparties available to enter into swap agreements on a continuing basis and, if no swap counterparties are willing to do so, the ETP will not be able to achieve its investment policy of tracking the performance of the Index.
- Credit Risk: The Issuer is subject to the risk that third party service providers may fail to return property or collateral belonging to the Issuer or pay money due to the issuer. The ETP is backed by swaps. The payment obligations of the swap counterparties to the Issuer are protected by collateral held which is marked to market daily. The collateral is held in segregated accounts at The Bank of New York Mellon. In the event a swap counterparty defaults, the proceeds from realisation of the collateral may be less than what the investor expects. Details of the collateral held can be found in the Collateral section of the WisdomTree website (www. Wisdomtree. Com).
- The performance of commodity indices may differ significantly from spot commodity prices, which are often quoted in the financial press, as the spot in itself is not investable. An investment in commodities may experience high volatility and should be considered as a longer term investment.
- Please see the risks factors section of the Prospectus for a more detailed discussion of the potential risks
Articles and Research Papers
Nitesh Shah
What’s Hot: Oil prices begin pricing the peace
The expected US-Iran MoU has shifted oil market focus from supply disruption to supply recovery. While reopening the Strait of Hormuz could restore oil flows, uncertainties remain around security, insurance and sanctions relief. Iranian production recovery and the UAE's exit from OPEC could boost supply, while weak Asian demand raises the risk of a significant oil surplus emerging in 2027.
- Commodities
Nitesh Shah
What’s Hot: What falling oil Inventories could mean for energy markets
Global oil inventories are falling at a record pace as the Strait of Hormuz disruption removes around 13 million barrels per day of supply. While headline inventories remain high, usable stocks are being depleted rapidly. As inventories approach operational limits, the market's ability to absorb further shocks diminishes, increasing the risk of a sharp spike in oil prices.
- Commodities
- Broad Commodities
Aneeka Gupta
Beijing Without Breakthroughs: What the Trump–Xi Summit Means for Investors
The Trump–Xi Beijing summit delivered managed stability, not structural change. Technology, critical minerals and Taiwan remain unresolved. For investors, two themes stand out: Western supply chain diversification in strategic metals and rare earths, and durable agricultural commodity exposure driven by food security and climate risk, not diplomacy.
- Broad Commodities
- Commodities
- Equities
- US
Nitesh Shah, Aneeka Gupta
Two Shocks, One Direction: The Case for Agricultural Commodities in 2026
Agricultural commodities are re-rating in 2026 as two converging supply shocks — the Iran war's disruption to fertilizer flows through the Strait of Hormuz and a developing El Niño, compress production across grains, oilseeds, and softs simultaneously. 
- Commodities
Fund Overview
| Product Overview | As of 3/7/2026 |
|---|---|
| ISIN | GB00B15KXY63 |
| Asset Class | Commodities |
| Base / Trading Currency | USD / EUR |
| Inception Date | 22 September 2006 |
| Currency Hedged | No – this product is not protected against adverse currency movements |
| Physical Delivery | No |
| Underlying exposure | Heating Oil |
| Leverage Factor | N/A |
| Net Asset Value | As of 3/7/2026 |
|---|---|
| NAV | US$40.873 |
| Daily Change | US$0.003 |
| Daily return | 0,007% |
| Total AUM of fund | US$3,588,044 |
| Issuer AUM | US$8,771,748,964 |
| Shares Outstanding | 87.785 |
Structure
| Structure | As of 3/7/2026 |
|---|---|
| Legal Form | Debt security |
| Legal Structure | ETC |
| Replication Method | Synthetic - fully funded collateralised swap |
| Domicile | Jersey |
| Further Legal and Tax Information | As of 3/7/2026 |
|---|---|
| ISA | Eligible |
| SIPP | Eligible |
| UCITS Eligible | Yes |
| UK Reporting Status | Yes |
Key Service Providers
| Key Service Providers | As of 3/7/2026 |
|---|---|
| Issuer | WisdomTree Commodity Securities Limited |
| Counterparty | Citigroup Global Markets Limited, Merrill Lynch International |
| Trustee | The Law Debenture Trust Corporation p.l.c. |
| Registrar | Computershare Investor Services (Jersey) Ltd |
| Collateral Manager | The Bank of New York Mellon |
| Fees | As of 3/7/2026 |
|---|---|
| Management Fee (MER) | 0,49% |
| Annual Swap Rate | 0,45% |
Passported Countries
Listings & Codes
| Country | Exchange | Trading Currency | Exchange Ticker | Bloomberg Ticker | RIC | SEDOL | ISIN | WKN | Settlement Period | Listing Date |
|---|---|---|---|---|---|---|---|---|---|---|
| LSE | USD | HEAT | HEAT LN | HEAT.L | B15KXY6 | GB00B15KXY63 | A0KRKX | T + 2 | 27/9/2006 | |
| Xetra | EUR | OD7I | OD7I GY | OD7I.DE | BD5V257 | GB00B15KXY63 | A0KRKX | T + 2 | 3/11/2006 |
Index Details
Bloomberg Commodity Heating Oil Subindex 4W Total Return
The Index is designed to reflect the movement in the price of the heating oil futures contracts (that are continuously rolled on a pre-determined rolling schedule) used in the Bloomberg Commodity IndexSM. A futures contract is an agreement to purchase a commodity at an agreed price, with delivery and payment to take place at a specified point in the future. Futures contracts are generally disposed of just before the term of the contract expires and new contracts entered into in order to avoid taking actual delivery of the commodity in question (a process known as 'rolling'), so that continuous exposure to the commodity is maintained. The contracts being purchased may be more expensive than the contracts being sold which would cause an investor in commodity futures to make an additional loss. This market trend is known as 'contango'. Alternatively the contracts being purchased may be cheaper than the ones being sold which would result in an additional gain, known as 'backwardation'. This price difference is commonly referred to as "roll yield". As the roll yield is incorporated into the calculation of the value of the Index, it may therefore have a positive or negative impact on the value of the Index depending on whether there is contango or backwardation. The ETC will also be affected as its value is based upon the value of the Index.
| Index Details | |
|---|---|
| Index Name | Bloomberg Commodity Heating Oil Subindex 4W Total Return |
| Currency | USD |
| Index Provider | Bloomberg |
| Bloomberg Ticker | BCOMHO4T |
| Reuters Index Ticker | .BCOMHO4T |
| Index Website | https://www.bloomberg.com/professional/product/indices/bloomberg-commodity-index-family/ |
| Index Constituent Count | 1 |
| Securities | 3/7/2026 |
|---|---|
| Bloomberg Commodity Heating Oil Subindex 4W Total Return | 100,00% |
Collateral Details
| Incorporated Country | Weight |
|---|---|
| UNITED STATES | 50,27% |
| AUSTRIA | 15,98% |
| NETHERLANDS | 15,12% |
| GERMANY | 9,72% |
| FINLAND | 8,91% |
| Currency | Weight |
|---|---|
| US Dollar | 50,27% |
| Euro | 49,73% |
Top 20 Fund Collateral
| Fund | Weight |
|---|---|
| 4 3/8 NOTE C 34 | 11,71% |
| 0 7/8 NOTE F 30 | 6,09% |
| NETHERLANDS GOVERN 2.5 15JAN31 144A | 5,01% |
| BILL 07/28/26 | 4,37% |
| 2 1/4 BOND 52 | 4,30% |
| REPUBLIC OF AUSTRI 3.2 20FEB36 144A | 4,19% |
| NETHERLANDS GOVERN 2.5 15JAN30 144A | 3,71% |
| BILL 10/29/26 | 3,56% |
| 2 3/4 NOTE E 32 | 3,45% |
| REPUBLIC OF AUSTRI 0.5 20FEB29 144A | 3,39% |
| NETHERLANDS GOVERN 0.0 15JUL30 144A | 2,98% |
| REPUBLIC OF AUSTRI 0.0 20FEB31 144A | 2,77% |
| REPUBLIC OF AUSTRI 2.9 20FEB33 144A | 2,40% |
| FINLAND GOVERNMENT 3.0 15SEP34 144A | 2,35% |
| 1 7/8 NOTE B 32 | 2,28% |
| FINLAND GOVERNMEN 2.75 04JUL28 144A | 2,12% |
| 2 3/8 BOND 42 | 2,01% |
| BUNDESREPUBLIK DEUTSCH 4.75 04JUL40 | 1,84% |
| 0 5/8 TRIN D 32 | 1,57% |
| 2 7/8 BOND 52 | 1,47% |
Documents
Product
Collateral
Reports and Regulatory
DISCLAIMERS
The products discussed in this document are issued by WisdomTree Commodity SecuritiesLimited (the "Issuer"). The Issuer is regulated by the Jersey Financial Services Commission. Investors should read the prospectus of the Issuer before investing and should refer to the section of the prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in the securities offered by the Issuer.
Securities issued by the Issuer are direct, limited recourse obligations of the relevant Issuer alone and are not obligations of or guaranteed by Citigroup Global Markets Limited (“CGML”), Citigroup Global Markets Holdings Inc. (“CGMH”), Merrill Lynch International ("MLI"), Bank of America Corporation ("BAC") or any of their affiliates. Each of CGML, CGMH, MLI and BAC disclaim all and any liability whether arising in tort, contract or otherwise which they might have in respect of this document or its contents otherwise arising in connection herewith.
“Bloomberg®” and the Bloomberg Commodity Index(es)SM referenced herein are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the indices (collectively, “Bloomberg”) and have been licensed for use for certain purposes by WisdomTree UK Limited and its permitted affiliates including WisdomTree Commodity Securities Limited (together, WisdomTree). Bloomberg is not affiliated with WisdomTree, and Bloomberg does not approve, endorse, review, or recommend the exchange-traded product(s) referenced herein. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the index(es).