Source has launched a new Bloomberg Commodity ex-Agriculture UCITS ETF (XAAB: GR) which gives exposure to commodities, minus agriculture and livestock.

The launch chases the tail of the Source Bloomberg Commodity UCITS ETF, which has raised €1.2 billion AUM since January.

Commodity ETFs are dominated by physically-held metal ETFs, although synthetic ETFs tracking specific commodities as well as commodity sector - such as industrial metals, or pork - do exist.

Last week, commodities ETFs were hit by the biggest outflows in six months, owing to investor sentiment souring and short term speculating.