Volatile gold and oil prices are certainly among the reasons why the commodities complex is generating plenty of buzz this year. However, that turbulence isn’t altering the fact that commodities, in broad fashion, are performing admirably in 2026.
Count the actively managed ALPS CoreCommodity Natural Resources ETF (CCNR ) among the ETFs benefiting from that theme. Confirming the benefits in the union of active management and commodities, CCNR is higher by nearly 25% year-to-date.
Advisors and experienced investors know there are important differences between equities and fixed income investing and commodities. With stocks, market participants focus on future earnings. Meanwhile, with bonds, it’s all about cash flow. With commodities, supply and demand dynamics loom large.
“In this sense, commodities may carry a positive geopolitical risk premium. Investors are effectively compensated for holding assets that tend to appreciate when the global environment becomes more constrained, uncertain or fragile,” noted Morgan Stanley.
CCNR Right for These Times
While portfolio construction is often viewed through the prism of stocks and bonds — think the old 60/40 advice — commodities can serve distinct, useful roles in client portfolios. Those include exposure to an asset class not highly correlated to equities and fixed income, as well as some buffering against geopolitical turmoil.
The latter point highlights the allure of CCNR in the current market environment. Headlines pertaining to the war in Iran have whipsawed investors. One day, it appears as though there’s progress. The next, progress stalls and markets roil. As CCNR’s 2026 results confirm, the ETF is standing tall in the face of geopolitical calamity.
“From Feb. 28, when the conflict in Iran started, to March 31, a typical portfolio with 60% of stocks and 40% of bonds would have posted a loss of 3.6%. Including only a modest 5% allocation to commodities, the portfolio’s performance would have improved to a gain of nearly 1%,” added Morgan Stanley. “During that same period, a diversified basket of commodities including oil, metals and agriculture products advanced 13.5%.”
Long-term investors may be doing themselves a disservice by not having some exposure to commodities. Luckily, CCNR makes accomplishing that objective easy. Add to that, the ETF is a broad play on the commodities ecosystem, meaning investors aren’t making isolated bets with this fund.
“The bottom line for investors focused on long-term portfolio resilience is not to replace stocks or bonds, but to complement them. A modest allocation to a diversified set of commodities may provide exposure to a unique opportunity—one that traditional asset classes alone may not fully capture,” concluded Morgan Stanley.
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