# Canadian Crude Oil Index ETF (CCX)



## newfoundlander61 (Feb 6, 2011)

Any opinions on this ETF, just came across this when reading the paper this morning. Launching tomorrow for trading I believe.

http://www.bloomberg.com/news/articles/2015-03-12/auspice-capital-to-offer-etf-tied-to-canada-heavy-crude


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## humble_pie (Jun 7, 2009)

newfoundlander i like the way you are continually testing the water, holding a finger to the wind, asking if the timing is right to restart in the oil patch ... it's the $64M question of course.

but idk about this new critter, there's a noticeable amount of heavyweight option, energy futures & derivatives trading experience working on it at auspice.

does this new fund have the same reset-onto-itself feature every month, as crude futures expire, that makes its US counterpart USO a day-trading deal rather than a long-term investment?

it would be necessary to study the prospectus in detail to figure out what, exactly, auspice is doing. Indeed, with no track record & no financial statements to be expected for a long time to come - a full year i believe - what they are doing might be difficult to figure out.

i'm not one who would attempt this homework. There might be an opportunity to leverage the WCS/WTI spread via this new CCX etf plus USO, for retail investors who wish to undertake such a strategy. This might be what auspice management is planning to do, ie they might use the retail volumes going into CCX to play the spread for themselves.


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## james4beach (Nov 15, 2012)

You can see from my posting history that I generally love ETFs, but funds like this one are in the "exotic" category (due to heavy reliance on derivatives) and I would never venture into a new fund like this until it's been around for a couple years.

Just look at the classic USO fund as a case study. For many years, this has dramatically under-performed the commodity it intends to track. _Many_ commodity ETFs have under-performed the commodities.


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