Commodity pool
A fund that reaches a commodity through futures and similar contracts and is organised as a commodity pool, not as a registered investment fund.
Signed in, this page is worked on the commodity products in your own portfolio, with the same numbers as their panel. Sign in ›
Launch offer The paid plan, free for three months. No card. Create account ›
Where it misleads
Not seeing the contracts is not the same as there being none to see. A pool holds futures and, like any futures product, replaces them as they expire; its annual report and its own site say more than the data we use does. The figures measured from prices say how it moved, not why.
Compared with
- Physical metal or futures — the three kinds of commodity product and what the site can read of each
- Roll yield — what replacing expiring futures contracts does to a futures product
How it is computed here
A pool files an annual report (Form 10-K) and not the fund report (Form N-PORT) in which a registered fund lists each holding, so the SEC data we use does not show its contracts. What this site says about a pool is what its own daily prices show: its share of your money, its share of your portfolio's risk, and how it behaved on your worst days. What it holds is not in those figures.
Worked example
- A futures product organised as a commodity pool is 10% of a portfolio's money; measured from its own daily prices with the other holdings, it carries 14% of the portfolio's risk.
- A pool files an annual report (Form 10-K), not the Form N-PORT in which a registered fund lists its contracts, so the SEC data we use has no list of what it holds: the two numbers say how it moved, not how it is built.
Illustrative, round numbers: not a real fund, market or portfolio. Signed in with a holding of this kind, this lesson is worked on yours.
Where it misleads
Not seeing the contracts is not the same as there being none to see. A pool holds futures and, like any futures product, replaces them as they expire; its annual report and its own site say more than the data we use does. The figures measured from prices say how it moved, not why.
What a commodity pool is
A pool reaches a commodity through futures, like a futures fund, but it is organised as a commodity pool and not as a registered investment fund. For what you can see, the difference is practical: a registered fund files a Form N-PORT listing each of its holdings; a pool files an annual report (Form 10-K) and no N-PORT.
What this site says about a pool
Only what its own prices show: its share of your money, its share of your portfolio's risk, and how it behaved on your worst days. What it holds is not in those figures, and the position panel says “No contract detail published in the SEC data we use” instead of guessing.
A worked example on real filings
Read from the SEC's public data on 2 October 2026:
- Invesco DB Commodity Index Tracking Fund (DBC) files a 10-K and has never filed a Form N-PORT. None of its contracts are in the data we use.
- PDBC, a registered fund, has a Form N-PORT for 31 July 2026 with 53 lines of reported holdings.
Two products sold as a basket of commodities: one opened line by line, the other measured from outside only.
How to read the pool you hold
- Its weight and its share of the risk side by side say whether it carries more or less of the risk than of the money.
- On your worst days counts how many of the portfolio's worst days it rose on, against the rest of the portfolio.
These describe what happened, measured on its prices. They do not say why.
Compared with
- Physical metal or futures — the three kinds of commodity product and what the site can read of each
- Roll yield — what replacing expiring futures contracts does to a futures product
Questions people ask
Is a commodity pool a riskier product than a registered fund?
Not by definition. The legal form differs, and with it what is reported to the SEC. How a product moves depends on what it holds, which is what its own filings say.
Why does the site show so few figures for a pool?
Because the SEC data we use has no list of its contracts. The figures it does show are measured from the pool's own daily prices, and the panel says where the rest would be.
Sources
- SEC EDGAR: company tickers and annual reports (public data)
Last reviewed 2 Oct 2026 by Sphinx Risk.