Source: https://mochatrade.com/learn/glossary/commodity-etf

# Commodity ETF
URL: https://mochatrade.com/learn/glossary/commodity-etf
Last modified: 2026-10-17

A commodity ETF tracks a commodity either by holding the metal or by holding futures and rolling them. Futures-based oil funds bleed in contango because each roll sells low and buys high. [Module 2 works the roll](https://mochatrade.com/learn); [index funds rolling on schedule](https://mochatrade.com/learn/us-market-structure/who-moves-us-stocks) are who you trade against.

## Related terms

- Contango and backwardation: https://mochatrade.com/learn/glossary/contango-and-backwardation
- Contract rollover: https://mochatrade.com/learn/glossary/contract-rollover
- Commodity trading: https://mochatrade.com/learn/glossary/commodity-trading
- IEA: https://mochatrade.com/learn/glossary/iea
- 13F filing: https://mochatrade.com/learn/glossary/13f-filing
- Liquidity: https://mochatrade.com/learn/glossary/liquidity

Educational content only. Not investment advice. Leveraged products magnify losses as well as gains.