iShares to Revamp Commodity ETF (CMDY) With New Roll Yield Strategy

BlackRock's iShares plans to rename the iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) to the iShares Bloomberg Enhanced Roll Yield Commodity Strategy ETF, effective around December 11, 2026. The fund will switch to the Bloomberg Enhanced Roll Yield Total Return Index, which provides exposure to futures across six commodity groups, including energy, metals, agriculture and livestock. The new strategy seeks to improve roll returns by favoring futures contracts with stronger backwardation or lower contango. It spreads exposure across three to four contracts per commodity, with monthly rolling and rebalancing. Individual commodities are generally capped at 15% of the index, while related commodity groups are capped at 33%. The fund will primarily use total return swaps and other derivatives to obtain exposure, alongside a cash management strategy.