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ENCD ETF · L&G Multi-Strategy Enhanced Commodities UCITS ETF
The ENCD Exchange Traded Fund (ETF) is provided by L&G. It is built to track an index: Barclays Backwardation Tilt Multi-Strategy Capped Index. This ETF provides synthetic exposure, by owning its shares you earn the return of the index indirectly through the use of derivatives or a swap (i.e. a contract with a financial institution which delivers the return of the index). This share class generates a stream of income by distributing dividends.
Share class
Dist
USD
Last update 5/22/2026, 7:00 AM UTC
LIVE
CLOSED
This fund is part ofMulti Commodities1M perf.+3.88%
Last price
$12.55
1M perf.
+4.72%
1M flows
N/A
AuM
€47M
TER
0.3%
Rating
Not rated
ESG Consensus®
ENCD
$12.55
Performance & flows
February 23, 2026 → May 21, 2026
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ENCD
$12.51
+17.08%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | +4.72% | +17.08% | +34.00% | N/A | N/A | -0.62% | +4.94% | +26.85% | |
| Flows |
Key fund info
Main characteristics
More details
NAV
5/21/2026
$12.51
1D NAV change
-0.72%
Dividend policy
Replication method
Indirect
Replication model
Unfunded swap
No. of holdings
N/A
Inception date
3/28/2024
Jurisdiction
Ireland
Distribution
Ireland
United Kingdom
Singapore
Legal structure
Open-end Investment Company
Base currency
USD
Dividend distribution
Trailing 12-month distr. yield
Distribution frequency
Last distribution
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Classification
Product type
Asset class
Factors
N/A
Share class info
USD distributing
Total AuM of fund
€2.51B
Decimalisation of shares
No
Investment strategy
L&G Multi Strategy Enhanced Commodities UCITS ETF is an open end exchange traded fund incorporated in Ireland. The ETF aims to track the performance of the Barclays Backwardation Tilt Multi-Strategy Capped Total Return Index.
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
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Risk profile
Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +17.08% | +34.00% | N/A | N/A |
| Volatility | ||||
| Perf./Volatility | ||||
| Max drawdown |
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Synthetic Risk and Reward Indicator (SRRI)
UCITS
1
2
3
4
5
6
7
PRIIPS
1
2
3
4
5
6
7
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Sustainability
Integrates ESG criteria
No
SDG
More sustainability metrics are available, exclusively in Trackinsight Enterprise
Replication
Trackinsight replication rating:
Not rated
1-year trailing difference
As of April 30, 2026
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ENCD
N/A
Replication quality
Calculated over 12m, as of April 30, 2026
Tracking error
Tracking difference
1-year cumulative return difference
Best
Worst
Daily return difference
Average
Worst
Replication information
Index
Index ticker
Index dividend policy
Replication method
Replication model
Issuer
L&G
L&G ID Card
Number of funds
72
Total AuM
€24.6B
Expense ratio range
0.05% - 0.8%
Average expense ratio
0.3324%
Top 5 funds by L&G
| AuM | ||
|---|---|---|
ISPY | L&G Cyber Security UCITS ETF | €2.82B |
AIAG | L&G Artificial Intelligence UCITS ETF | €1.69B |
ROBO | L&G ROBO Global Robotics and Automation UCITS ETF | €1.36B |
LGUS | L&G US Equity UCITS ETF | €1.3B |
LGGL | L&G GLOBAL EQUITY UCITS ETF | €1.28B |
Frequently asked questions about ENCD
What does L&G Multi-Strategy Enhanced Commodities UCITS ETF, ENCD, invest in?
ENCD is a Passive ETF. This ETF provides exposure to multiple commodities.
Which benchmark or index does ENCD replicate?
ENCD tracks the Barclays Backwardation Tilt Multi-Strategy Capped Total Return Index - USD, through a unfunded swap replication method.
What is the Total Expense ratio (TER) of ENCD?
ENCD carries a total expense ratio (TER) of 0.3%, indicating the annual cost for holding the fund.
When was ENCD launched?
ENCD was introduced to the market on March 28, 2024. It trades on Ireland, among other exchanges
Who is the ETF issuer of ENCD?
L&G Multi-Strategy Enhanced Commodities UCITS ETF, ENCD, is provided by L&G. Learn more about L&G here.
Does ENCD have multiple share classes?
Yes, ENCD is available in multiple share classes, which may differ by distribution policy (e.g., accumulating vs. distributing), currency or hedging. Explore the different share classes .
What is the current assets under management (AUM) of ENCD?
ENCD oversees €47M in assets as of May 21, 2026.
How has ENCD performed lately?
Based on data from May 21, 2026, ENCD returned 4.72% over the past month, 17.08% over the last three months and 26.85% year-to-date.
What are the latest inflows or outflows for ENCD?
As of May 21, 2026, ENCD recorded net flows of +€3M year-to-date.
Does ENCD distribute dividends?
ENCD follows a distributing dividend policy, meaning it pays out income to investors. As of May 21, 2026, its 12-month trailing yield was 4.09%.
What is the base currency of ENCD?
The base currency of ENCD is USD.
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