UBS Bloomberg CMCI Ex Agriculture Ex Livestock
The UBS Bloomberg CMCI Ex Agriculture Ex Livestock Index (CMCI xAL) uses the exact commodity weights and monthly rebalancing methodology of the CMCI, but excludes all components from the agriculture sector and the livestock sector. On a component basis, it uses the same tenor weights as are used under the CMCI and also uses the same forward tenors, daily rolling and constant maturity methodology of the CMCI.
The UBS Bloomberg CMCI Ex Agriculture Ex Livestock Capped Index (CMCI xAL Capped) additionally applies 35/20 allocation capping rules detailed in the Technical Document (the “35/20 Rules”), such that no single component comprises more than 35% of the index and only one component may comprise more than 20% of the index. The target weights for this index are shown in the factsheet available at the link below.
Please see section D.3.5. on page 81 of the Technical Document available for download on the right side of this page for details on the CMCI Ex-Agriculture Ex-Livestock Indices.