For more than two months since this year, most equity funds have lost money, and the performance of fixed-income products is not as good as in previous years. The relatively unpopular commodity funds that invest in commodities are "happy to raise the screen" and have achieved positive returns during the year. The following small series has compiled the income list of commodity funds, I hope you like it!
Commodity funds dominate the list.
On February 23rd, most domestic futures contracts rose, among which palm oil rose by over 4%, coking coal, rapeseed meal and soybean 2 rose by over 2%. Since the beginning of this year, more than 70% of domestic futures contracts have risen, among which soybean meal, crude oil, Shanghai gold and other futures contracts have risen by 22.48%, 19.55% and 2.96% respectively, and the price index has hit record highs. The data shows that the Wind commodity index has all risen in seven weeks since this year, and the latest price has reached an index high since last year 1 1.
Driven by the high commodity index this year, all commodity funds have achieved positive returns this year, and half of the top ten funds are commodity funds.
Huaxia feed soybean meal futures ETF ranked first among open-end funds with an increase of 20.57% during the year. According to the data, Huaxia feed soybean meal futures ETF mainly adopts passive management strategy, and achieves the investment purpose by buying the main contract of soybean meal futures with the underlying index component. The fund is a commodity fund, which tracks the commodity futures price index. Its expected risk and expected return are higher than those of bond funds and money funds, and it is a high-risk variety.
The surge in soybean meal futures prices is mainly affected by the linkage of soybean prices. Since the beginning of this year, the international soybean price has continued to rise, becoming one of the fastest-growing varieties in the international commodity market. The soybean futures trading price on the Chicago Board of Trade is approaching the historical high of 10 set in May last year.
In addition, thanks to the high prices of crude oil and non-ferrous futures, Harvest Crude Oil, Yifangda Crude Oil A RMB, Southern Crude Oil A, Cathay Pacific Commodities, Prudential Global Commodities Theme and Jianxin Yisheng Zhengshang Energy and Chemical Futures ETF all increased by more than 10% during the year.
Influenced by many factors
Looking at the extended cycle, the overall performance of commodity funds is divided. For example, since the establishment of Jianxin Yisheng Zhengshang Energy and Chemical Futures ETF, Dacheng Nonferrous Metals Futures ETF and E Fund Gold ETF, the cumulative income has been 6 1.99%, 59.28% and 53.76%, respectively, with outstanding performance, while the poor performance of Prudential Global Commodity Theme and Cathay Pacific Commodity has halved its net value since its establishment.
Different from stocks and fixed income assets, there are many factors that affect the performance of commodity funds.
For example, the price of gold is influenced by many factors such as geopolitics and inflation level. Recently, the price of gold has rebounded significantly. Wang Xiang, the proposed fund manager of Bosera Fund, said that under the geographical influence of Eastern Europe, the market risk aversion continued to push up the gold performance, and the international gold price challenged 1.900 USD for the first time since last June. The boost of geographical events to gold is short-term, so the gold market should be alert to the risk of ups and downs when the heat rises.
Rong Rong, fund manager of Huaxia Feed Soybean Meal Futures ETF, told the reporter that investors should understand the fluctuation range and potential risks of different commodity prices when investing in commodity futures ETFs, and reasonably decide the investment ratio of commodity futures ETF funds in personal assets.
CCB said that although commodity funds have performed well recently, there are also some hidden concerns. Since the beginning of this year, geopolitical events have promoted the rise of crude oil, gold and other commodities, but the geopolitical impact is generally short-term, and investors need to pay more attention to the fundamental factors such as supply and demand and inventory of commodities themselves. In addition, in 2022, the United States will start the process of raising interest rates and shrinking the table. Investors need to pay attention to the pace and intensity of the Fed's interest rate hike. If the economic recession comes with the interest rate hike, it will have a certain impact on global commodity demand.
Commodity funds dominated the market, with all positive returns during the year, leading the market with an increase of 2 1%.
Since the beginning of the year, the equity market has fluctuated, and most equity funds have lost money. Steady fixed-income products have also differentiated so far, and their income performance is not as good as in previous years. However, commodity funds that invest in commodities have ushered in a bumper harvest, and they have achieved positive returns this year. Specifically, Huaxia Feed Soybean Meal Futures ETF led the market with an increase of 20.57% during the year, and Jianxin Yisheng Zhengshang Energy and Chemical Futures ETF increased by 12.72% during the year. In addition, a number of QDII funds with oil and gas themes dominated the increase list during the year. Domestic commodity funds mainly invest in domestic commodities, spot funds and commodity-themed QDII invested in foreign markets. Commodity fund is an unpopular sector in the field of fund investment, with slow development and low market attention. Recently, commodity funds have performed well, but there are also some hidden concerns. Rong Rong, fund manager of Huaxia Feed Soybean Meal Futures ETF, told the reporter of China Daily that when investing in commodity futures ETFs, investors should also understand the fluctuation range and potential risks of different commodity prices and make reasonable investment decisions. CCB said that investors should pay more attention to the fundamental factors such as supply and demand, inventory and so on.