PCYAX — PCS Commodity Strategy Fund

PCYAX Fund Overview

PCYAX — PCS Commodity Strategy Fund is a US mutual fund managed by Northern Lights Fund Trust II, categorised as Commodity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Northern Lights Fund Trust II
• Category: Commodity
• Assets under management: $9.79M
• Ticker: PCYAX
• SEC CIK: 0001518042
• SEC series ID: S000046565
• Share class ID: C000145340

PCYAX Investment Objective and Strategy

PCS Commodity Strategy Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Northern Lights Fund Trust II.

Investment objective

The investment objective of the PCS Commodity Strategy Fund (the Fund) is to seek to provide long term total return.

Principal investment strategy

The Fund seeks to achieve its investment objective by investing, under normal circumstances, in (a) a portfolio of commodity-linked futures contracts traded on U.S. and foreign exchanges and (b) a fixed-income portfolio made up primarily of cash, cash equivalents, short-term U.S. government securities, and certain other money market instruments. Commodity Investments. The Fund will follow a rules-based methodology to seek to replicate the Rogers International Commodity Index (the Index). The Index is a composite, U.S. dollar-based, total return index. The Index was designed to meet the need for consistent investing in a broad based international vehicle; it represents the value of a basket of commodities consumed in the global economy, including agricultural, energy and metal products. The value of this basket is tracked via futures contracts on 37 different exchange-traded physical commodities, quoted in four currencies, listed on ten exchanges in four countries.

The Index aims to be an effective measure of the price action of raw materials not just in the United States but also around the world. The Indexs weightings attempt to balance consumption patterns worldwide (in developed and developing countries) of raw materials on the one hand, and the liquidity of the futures contracts on the raw materials on the other hand. Each month, the Fund will rebalance the Funds futures positions back to the RICIs initial weightings. The Fund will hold long-only positions in the futures contracts underlying the Index. Accordingly, the value of the Funds futures portfolio will increase only if, in aggregate, the value of the component raw materials represented in the futures portfolio increases. The Fund will use a series of rules to generate trades and positions in commodity-linked futures contracts that seek to track the Index.

The Fund expects to gain exposure to the commodities market indirectly by investing up to 25% of its total assets (measured at the time of investment) in a wholly-owned and controlled in subsidiary (the Subsidiary), which is designed to enhance the ability of the Fund to obtain exposure to the commodities market through commodity-linked futures investments consistent with the limits of the U.S. federal tax law requirements applicable to registered investment companies. Unlike the Fund, the Subsidiary may invest without limitation in commodity-linked derivatives, however, the Subsidiary will comply with the same Investment Company Act of 1940 (1940 Act) asset coverage requirements with respect to its investments in commodity-linked derivatives that are applicable to the Funds transactions in derivatives.

Fixed Income Investments. Assets not invested by the Fund in the Subsidiary or directly in commodity-linked futures contracts are invested in cash, cash equivalents, short-term U.S. government securities, and certain other money market instruments. The Funds fixed income investments consist primarily of direct and guaranteed obligations of the U.S. government and senior obligations of U.S. government agencies as well as money market securities.

PCYAX Costs and Fees

PCYAX costs about $136 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.36%
• Gross expense ratio: 1.79%
• Portfolio turnover: 0%
• Brokerage commissions: 12.12 bps of average net assets (SEC N-CEN)

PCYAX Cashflows

Over the 12 months to 2020-11, PCS Commodity Strategy Fund had net inflows of $14.95M, from monthly SEC N-PORT filings.

PCYAX Debt Constituents

No individual debt constituents are reported in PCS Commodity Strategy Fund's latest SEC N-PORT filing.

PCYAX Prospectus and SEC Filings

Official PCS Commodity Strategy Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-01-13
• Prospectus (485BPOS) — filed 2019-01-04
• Prospectus (485BPOS) — filed 2017-12-29
• Portfolio holdings (N-PORT) — filed 2021-01-27
• Portfolio holdings (N-PORT) — filed 2020-10-13
• Portfolio holdings (N-PORT) — filed 2020-07-29
• Annual census (N-CEN) — filed 2020-11-12
• Annual census (N-CEN) — filed 2019-11-14

Related Funds

Other Commodity funds tracked on ABC INVEST:

• VanEck Vectors Gold Miners ETF (GDX)
• VanEck Vectors Junior Gold Miners ETF (GDXJ)
• Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC)
• PIMCO CommoditiesPLUS Strategy Fund (PCLAX)
• First Eagle Gold Fund (SGGDX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.