Whither the benchmark?



The commodity exchange-traded fund (ETF) market has endured mixed fortunes of late. While investors have continued to pour money into some ETF products, others have faced setbacks. Take the US Oil Fund, a partnership trust launched in April 2006 and managed by Colorado-based Victoria Bay Asset Management. According to its prospectus, its objective is to track the price change of the West Texas Intermediate (WTI) light, sweet crude oil near-month futures contract listed on the New York Mercan

To continue reading...