The bull market that left the stock market has rediscovered itself in commodities.

One of the latest commodity funds to hit the ETF market is the Greenhaven Continuous Commodity Index Fund (GCC).

Since its launch in late January, GCC has recorded a solid gain of 17.6 percent.

The fund tracks the Continuous Commodity Total Return Index (CCI-TR), an equal-weight basket of the following 17 commodities: wheat, corn, soybeans, live cattle, lean hogs, gold, silver, platinum, copper, cotton, coffee, cocoa, orange juice, sugar, crude oil, heating oil and natural gas.

Each commodity is assigned a 5.88 percent (1/17) index weight and is rebalanced daily. The CCI-TR is calculated each day according to the latest changes in the CCI spot index, the roll yield implied by rolling selected commodity futures forward to the next defined commodities contract on specific dates, and the 90-day T-Bill yield for a single day.

The CCI-TR is the total-return version of the underlying commodities of the ninth revision (1995-2005) of the original Commodities Bureau Index, or “CRB Index.”

The fund charges an annual expense ratio of 1.09 percent, which includes management fees and estimated brokerage costs for trading commodity contracts by the fund.

Ron DeLegge is the San Diego-based editor of www.etfguide.com.