Harbor has had a strategic partnership with Quantix Commodities since 2022. Quantix Commodities is the proprietor of the Quantix Commodity Index. The 3Q26 target weights are shared in this document for your consideration.
The Quantix Commodity Index (“QCI” or the “Index”) is a benchmark representing a strategic allocation to commodities and hedging inflation. The Index references exchange‑traded contracts linked to 24 physical commodities, and the 3Q26 Target Weights will be implemented during the standard July 2026 index roll.
Relative to the 2Q26 Target Weights, the weight of the Petroleum sector increased by +0.9%, while the weight of the Precious Metals sector decreased by ‑0.7%. Grains decreased by ‑0.3%, while Softs increased by +0.1%. The weight of the Livestock and Industrial Metals sectors remained unchanged.
On an individual commodity basis, the weight of Soybeans decreased by ‑0.9% and the weight of Gold decreased by ‑0.7%. Within the Petroleum Sector, the weight of Gasoline increased by +0.7%, Gas Oil by +0.4%, and Heating Oil by +0.2%, while Brent Crude Oil decreased by ‑0.5%. In the Softs sector, Sugar and Coffee increased by +0.1%.
The Scarcity Debasement Indicator remained unchanged this quarter with two of the three signals pointing to Debasement.
The number of commodities in the index remained at 20.
The target weights for all QCI components for 3Q26 are listed below:
Important Information
The Quantix Commodity Total Return Index is calculated on a total return basis, which combines the returns of the futures contracts with the returns on cash collateral invested in 13‑week U.S. Treasury Bills. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Quantix Commodity Index was developed by Quantix Commodities LP and is owned by Quantix Commodities Indices LLC
The views expressed herein may not be reflective of current opinions, are subject to change without prior notice, and should not be considered investment advice or a recommendation to purchase a particular security.
The Scarcity Debasement Indicator (SDI) is a proprietary tool used to determine the source of inflation. It signals whether inflation is more likely to be caused by currency debasement or commodity scarcity
The QCI is maintained by Quantix Commodities Indices LLC (“Quantix”). The QCI was known as the Quantix Inflation Index from January 2022 to February 2023. Nothing in this document is intended to be or should be interpreted as a recommendation or investment advice. The QII is a rules‑based index that is calculated based on a specified set of rules with the intention of producing a grouping of commodity futures contracts that is investible for U.S. persons and that should address specified goals. No assurance is given by Quantix and its affiliates that the QII will achieve the goals it is designed to address, that its construction or calculation will not include errors or that use of the QII will be suitable for any person. This document shall not constitute an offer to sell nor the solicitation of any offer to buy any financial instrument or security, including, without limitation any instruments managed or sub‑advised by Quantix Commodities LP, an affiliate of Quantix.
While all the information prepared in this document is believed to be accurate, Quantix makes no warranty as to its completeness or accuracy. The information in this document is only current as of the date indicated, and may be superseded by subsequent market events or for other reasons.
While an investor can invest in vehicles designed to track an index, an investor cannot invest directly in an index. Indices are unmanaged and are not subject to the advisory fees and expenses to which a client’s actively managed portfolio would be subject.
This document may not to be reproduced or transmitted, in whole or in part, to third parties, without the prior written consent of Quantix.
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Harbor Capital Advisors is not affiliated with Quantix Commodities.