Rogers International Commodity Index®

The Rogers International Commodity Index® (RICI®) was developed by Jim Rogers to be an international, diversified, investable raw materials index. The RICI® currently has thirty-eight commodities representing the energy, metals, and agricultural sectors. The selection and weightings of its commodity components are designed to provide a balanced and liquid representation of demand and consumption patterns globally.  The RICI® was designed to be a stable index and has had relatively minor changes in its composition since it was officially released in August 1, 1998. All the commodities in the RICI® are publicly traded on recognized, regulated exchanges around the world to insure liquidity, ease of tracking, and verification. Since its inception in 1998, the RICI® has established a record of outperformance versus other commodity benchmarks.*

The Fund

Fund Documents & Performance
methodology  Fund Document Center
pdf  Factsheet: April 2020
pdf  December 2019 Distribution Estimate
barchart View Fund Performance
Resources: For Advisors & Institutions
pam  Comments & Resources from the Fund Advisor

  • Commentaries from the Management Team
  • The Commodity Curve | Asset Class Updates
  • Jim Rogers: Don’t Rule Out a Bull Run in Commodities [8/26/15]
  • Jim Rogers: Current State of the Commodity Asset Class [3/11/15]
  • Quarterly RICI® Index Summaries
  • Webinars: Commodities & Energy

 

History of the RICI®

Jim Rogers, developer of the Rogers International Commodity Index®, has been a successful hedge fund manager, investor, writer, and regular media commentator.  Regarded as one of the world’s leading experts in commodities, he co-founded the Quantum Fund, a private investment partnership which invested in numerous asset classes globally including commodity futures, and experienced superior returns over 10 years.

In the mid-1990s, Jim Rogers came to the conclusion that commodities were seriously undervalued based in part on his belief in the industrialization of China and the potential for long-term, worldwide imbalances between supply and growing demand. Rogers researched the existing commodity indices as a way to participate in his thesis, but he was not satisfied with their construction and methodologies.  Rogers utilized proprietary research based on data from many sources such as the World Health Organization, the U.S. Department of Agriculture, the World Trade Organization, and the Commodity Research Bureau. He also incorporated his years of the international travel and global investing experience in an attempt to create a superior index that was more representative of global consumption. Today, Jim Rogers heads up an international index committee that monitors and provides input on the RICI® in an effort to maintain the goal of being a truly international, balanced, demand-driven and investable commodity index.

RICI® Total Return Index

The RICI® was created as a non-leveraged, total return index; therefore, it is calculated based on ownership of fully collateralized futures contracts on the selected commodities. The returns of the Index are driven by a combination of the changes in commodity prices, monthly rebalancing of the components, the interest income of the collateral, and the futures roll yield. While similar in its construction to most other recognized total return commodity indices, the RICI® contains multiple rules-based enhancements in its methodology that over time have delivered significant performance benefits. It is not possible to invest directly in an index.

Rogers International Commodity Index® Weightings


The graph above represents target weightings of commodities within the portfolio. Actual allocations may fluctuate, causing deviation from those shown. Portfolio holdings are subject to change and should not be considered investment advice.

Attributes of the Rogers International Commodity Index®

    1. Constructed to represent worldwide commodity demand and consumption.
    2. Broadest commodity index with 38 global commodity constituents.
    3. Diversified exposure through three sectors: Energy, Metals, and Agriculture.
    4. Employs no leverage and includes interest income.
    5. Rebalanced to index weights on a monthly basis (vs. annually for benchmarks).
    6. Index has over 20 years of published history.
    7. Performance compares favorably to other recognized commodity indices.

Index Methodology Benchmark Performance (Aug 1998 – Dec 2018)*

The RICI®, S&P GSCITM & BCOM are long only, passively managed commodity indices. It is not possible to invest in them and their returns do not reflect the fees and expenses inherent in investing a vehicle designed to replicate a particular commodity index. Detailed information on all of the indices is available upon request.

Source: Bloomberg LP & Barclay MAP

For More Information on the RICI® visit the PAM Website