Ann: Weekly Estimate of Performance and Market Wrap, page-8

Ok here are some ETFs:

Global copper miners: NYSEARCA: COPX

Global base metals: NYSEARCA: DBB

USE base metals: NYSEARCA: xme

Global uranium: NYSEARCA: URA

Global energy ETF: ASX: FUEL

TGF listed 12 Oct 2018

All of these ETFs are down since then, some significantly. More useful to view in a graph is the natural volatility.

The AUD has dropped significantly offsetting the losses for non-AUD exposure.

I will do a detailed blog post write up on TGF and publish link here for medium/long term investors.

My guess till proper analysis is done is that TGF NTA has probably performed in-line with its commodity/shipping exposures inclusive of currency. I doubt its shorts have added much value.

The share price performance has been horrific - exposing a real issue with many ASX Closed End Funds that aren't well-known or well-marketed or have substantial advisors recommending them. This is the strong rationale for TGF acting re the discount - even if to just boost its performance figures and chance at performance fees! What other investments are they getting a 20%+ return on?

LIC DIY investors are notoriously fickle and until a prolonged upswing in commodity/energy equities the discount won't naturally close below 10%.

More likely, due to liquidity, TGF will trade like a commodity equity - big swings in either direction! Definitely not one to hold if you can't handle the swings or may need to sell out when trading at large discounts.