CRB – THE FIRST NAME IN COMMODITIES  

The Thomson Reuters/Jefferies CRB Index
(“TR/J CRB Index")

For more than 50 years, the world-renowned CRB Index has served as the most widely recognized measure of global commodities markets. This leading commodity futures benchmark is designed to provide timely and accurate representation of a long-only, broadly diversified investment in commodities through a transparent and disciplined calculation methodology.

The history of the CRB Index dates back to 1957, when the Commodity Research Bureau constructed an index comprised of 28 commodities that made its inaugural appearance in the 1958 CRB Commodity Year Book.

Since then, as commodity markets have evolved, the CRB Index has undergone periodic updates to remain a leading benchmark for the performance of commodities as an asset class.

The index is comprised of 19 commodities:  Aluminum, Cocoa, Coffee, Copper, Corn, Cotton, Crude Oil, Gold, Heating Oil, Lean Hogs, Live Cattle, Natural Gas, Nickel, Orange Juice, Silver, Soybeans, Sugar, Unleaded Gas and Wheat.

The Index uses a four-day rollover schedule for each commodity beginning on the first business day of the month and ending on the fourth business day.

For more information about the CRB Indices, download the fact sheets below:

• TR/J CRB fact sheet 329KB
• TR/J CRB Ex-Energy fact sheet  311KB
• TR/J CRB list of variants - symbols, names and codes   136KB
• TR/J CRB calculation supplement  147KB 
• TR/J CRB 3 Month Forward Calculation Supplement 133KB
  
• TR/J CRB overview deck  457KB

CRB-EQ – THE FIRST NAME IN COMMODITY EQUITIES

The Thomson Reuters/Jefferies CRB In-The-Ground Global Commodity Equity Index (CRB-EQ)

Building upon the history and reputation of the CRB Index, the CRB-EQ Indices offer investors unique, simplified benchmarks for globally traded equities of companies that are principally engaged in the production and distribution of commodities and commodity-related products. Corresponding to the CRB Index family, the CRB-EQ Index family comprises a diversified global composite index and four distinct sector sub-indices:

• TR/J CRB Global Commodity Equity Index (CRBQX)
• TR/J CRB Global Energy Equity Index (CRBEX)
• TR/J CRB Global Agriculture Equity (CRBAX)
• TR/J CRB Global Industrial Metals Equity Index (CRBIX)
• TR/J CRB Global Precious Metals Equity Index (CRBGX)

In addition, the CRB WCAT Index, which follows the introduction of the CRB-EQ indices, also provides a benchmark for the equities of commodity-related companies, but in particular provides exposure to stocks of oil and gas exploration and production companies based in the US and Canada.

• TR/J CRB Wildcatters Energy E&P Equity Index (WCATI)

Learn more about the CRB-EQ Indices:

• TR/J CRB EQ list of variants - symbols, names and codes 256K
• CRB-EQ indices website

AVAILABILITY

The TR/J CRB Index and the CRB-EQ Index and related equity indices are published real time and widely disseminated to subscribers including traders, analysts, consultants and numerous media outlets.

They are available for licensing through the Thomson Reuters Indices license team.

Financial products issued under license of the CRB-EQ Index and related equity indices  include the Jefferies | TR/J CRB Global Commodity Equity Index Fund (NYSE: CRBQ), an ETF which seeks investment results that replicate as closely as possible, before fees and expenses, the price and yield performance of the Thomson Reuters/Jefferies CRB In-The-Ground Global Commodity Equity Index. Other ETF licensees of related indices include:

• Jefferies | TR/J CRB Global Industrial Metals Equity Index Fund
• Jefferies | TR/J CRB Global Agriculture Equity Index Fund
• Jefferies | TR/J CRB Wildcatters Exploration & Production Equity ETF

Learn more about the CRBQ and related ETFs from CRBQ.

THE THOMSON REUTERS EQUAL WEIGHT CONTINUOUS COMMODITY INDEX (CCI)

Trading on the ICE Futures Exchange, the Thomson Reuters Equal Weight Continuous Commodity Index is recognized as an unbiased, major barometer of commodity prices.

The index is comprised of 17 commodity futures: Cocoa, Coffee ‘C’, Copper, Corn, Cotton, Crude Oil, Gold, Heating Oil, Lean Hogs, Live Cattle, Natural Gas, Soy Oil, Platinum, Silver, Soybeans, Sugar No. 11, and Wheat.

THE EQUAL WEIGHTED COMMODITY INDEX

CCI components are equally weighted and therefore distribute more evenly into the major sectors: Energy 17.65%, Metals 23.53%, Softs 29.41% and Agriculture 29.41%. While other commodity indices tend to have overweighting in certain sectors (e.g. Energy), the CCI provides more meaningful exposure to all four commodity subgroups.

The 17 components of the CCI are continuously rebalanced to maintain the equal weight of 5.88%.

When a future reaches the first notice day or it matures, it is not considered in the calculation anymore. A future is eligible for inclusion when it has 6 months to maturity, but no more than 5 futures can be included for any commodity .

2012 METHODOLOGY REVISION

The recent revision includes the introduction of a 5 day roll period, daily arithmetic rebalancing to equal weights and the replacement of orange juice with soy oil as a new constituent commodity.

In order to facilitate the transition to the new methodology, the value of the Thomson Reuters Continuous Commodity Total Return index will be reflected as follows over a period of 4 days (*note that his section has been edited for changes on Jan 2nd, 2013):

• The intraday and close values for the index on 07-Jan based on settlement values will reflect 100% of the returns of the old basket calculated based on the old methodology.

• The intraday and close values for the index on 08-Jan will reflect 20% of the returns of the new basket calculated based on the new methodology, 80% of the returns of the old basket calculated based on the old methodology. The intraday values on 08-Jan will also reflect this transition index between the old and the new index.

• The intraday and close values for the index on 09-Jan will reflect 40% of the returns of the new basket calculated based on the new methodology, 60% of the returns of the old basket calculated based on the old methodology. The intraday values on 09-Jan will also reflect this transition index between the old and the new index.

• The intraday and close values for the index on 10-Jan will reflect 60% of the returns of the new basket calculated based on the new methodology, 40% of the returns of the old basket calculated based on the old methodology. The intraday values on 10-Jan will also reflect this transition index between the old and the new index.

• The intraday and close values for the index on 11-Jan will reflect 80% of the returns of the new basket calculated based on the new methodology, 20% of the returns of the old basket calculated based on the old methodology. Following the 11-Jan close values from Monday 14-Jan open, the index will be calculated 100% according to the revised methodology.

AVAILABILITY

The Thomson Reuters Equal Weight Continuous Commodity Index is published real time and is widely disseminated to subscribers including traders, analysts, consultants and numerous media outlets. It is available for license through the Thomson Reuters Indices license team.

INVESTMENT ACCESS

The Thomson Reuters Equal Weight Continuous Commodity Index is tracked by the Greenhaven Continuous Commodity Index Fund (GCC). For more information about the performance of the GCC ETF and the CCI, please view the following article:

• Barchart.com ETF Research

For more information, download the fact sheets below:

• Thomson Reuters Equal Weighted Continuous Commodities Index (CCI) fact sheet 263K
• Thomson Reuters Equal Weight Continuous Commodities Index symbols, names and codes  136K
• Thomson Reuters CCI TR Index Methodology 788K