SummerHaven Dynamic Metals Indexsm (“SDMI”)
The SummerHaven Dynamic Metals Index (“SDMI”) is an innovative index approach that uses fundamental signals about underlying physical markets to create an active metals index benchmark for commodity futures investors. The SDMI tracks the performance of a fully collateralized portfolio of 10 metals contracts: six industrial metals and four precious metals. Five metals are selected each month through steps designed to identify metals in a low inventory state. These five metals are over weighted for the month from their standard base weights, and the remaining five metals are underweighted from base weights.