Commodities Medalist Funds

Funds and ETFs in this category invest in a diversified basket of commodity goods including but not limited to grains, minerals, metals, livestock, cotton, oils, sugar, coffee, and cocoa. Investment can be made directly in physical assets or derivatives such as options and swap agreements. Here we highlight those that also received a Aold, Silver, or Bronze Morningstar Medalist Rating by our analysts. The Medalist Rating is a forward-looking assessment of an investment strategy. The rating is on a five-tier scale running from Gold to Negative. For actively managed funds, Morningstar assigns Gold, Silver, and Bronze ratings to vehicles expected to add value over the long term when compared with a relevant Morningstar Category index after accounting for fees and risk. For passive strategies, funds and ETFs with the top ratings are expected to deliver alpha that exceeds the lesser of the category median net alpha, or zero, over the long term.