etf-monitor
iM DBi Managed Futures Strategy ETF replicates the aggregate positioning of large managed futures hedge funds using a systematic model, providing retail investors access to a crisis-alpha strategy that historically profits during equity bear markets and inflationary regimes at a fraction of hedge fund fees. This analysis is part of
tollbooth
Chevron is a global energy supermajor operating a high-quality upstream portfolio, the largest U.S. refining system, and a growing LNG export business — returning $75+ billion to shareholders through 2027 while maintaining 37 consecutive years of dividend increases. This analysis is part of Energy Macro’s Tollbooth Royalties research. For
grid-risk
Vermont's ISO New England grid has fundamentally restructured since the 2014 closure of Vermont Yankee nuclear, shifting from nuclear-powered energy independence to heavy reliance on Canadian hydro imports and distributed renewables in a small, rural system with limited indigenous generation. This analysis is part of Energy Macro’s
etf-monitor
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF provides the same broad commodity exposure as DBC using identical optimized roll methodology — but in a tax-friendly ETF structure that issues standard 1099 forms instead of burdensome K-1 partnership filings. This analysis is part of Energy Macro’s ETF Monitor research.
tollbooth
Exxon Mobil is the world's largest publicly traded energy company and the dominant integrated oil and gas tollbooth — producing 3.7 million barrels per day, operating the largest U.S. refining fleet, and expanding Permian Basin output while returning record capital to shareholders. This analysis is part of
etf-monitor
iShares S&P GSCI Commodity-Indexed Trust tracks the Goldman Sachs Commodity Index with even heavier energy weighting than DBC, making it the most energy-concentrated broad commodity vehicle — a direct bet on oil and gas prices with some diversification from agriculture and metals. This analysis is part of Energy Macro’
grid-risk
Utah's WECC-connected grid faces a critical coal-to-clean transition as the state's legacy coal fleet ages and retires, while data center growth along the Wasatch Front and abundant solar resources in the desert South create competing demands and investment opportunities. This analysis is part of Energy Macro’
tollbooth
Hubbell Incorporated manufactures the nuts-and-bolts electrical products that physically connect America's power grid — utility poles, connectors, arresters, and T&D hardware — a small but essential tollbooth on every mile of transmission and distribution line being built or upgraded. This analysis is part of Energy Macro’s Tollbooth
etf-monitor
Invesco DB Commodity Index Tracking Fund is the benchmark broad commodities ETF, holding futures across energy, agriculture, industrial metals, and precious metals — providing the most direct portfolio hedge against the inflationary pressures that are central to the Energy Macro thesis. This analysis is part of Energy Macro’s ETF Monitor
grid-risk
Tennessee's SERC-region grid, dominated by the Tennessee Valley Authority's diverse nuclear-hydro-gas fleet, faces growing demand from data center expansion in Nashville and Chattanooga while TVA's massive infrastructure investment program positions the state as a Southeast reliability anchor. This analysis is part of Energy Macro’
tollbooth
Eaton Corporation is the power management tollbooth — manufacturing the electrical components, switchgear, and power distribution systems that every building, data center, and industrial facility needs to connect to and manage electricity from the grid. This analysis is part of Energy Macro’s Tollbooth Royalties research. For our complete infrastructure income
etf-monitor
iShares MSCI Global Metals & Mining Producers ETF provides diversified exposure to the world's largest mining companies across iron ore, copper, gold, and industrial metals — the broadest single-fund allocation to the global metals supply chain that underpins industrial civilization. This analysis is part of Energy Macro’s ETF