At a glance
SOYB charges 1.0% a year, above the 0.9% average of the 7 funds most like it (the 4th cheapest of 8). It has $48.2M in assets, the 4th largest of that group. Over the past year it returned +16.0% with distributions reinvested (S&P 500: +11.5%), 2nd of those 8 funds; over three years it returned −1.6% a year. At its worst it fell 9.1% in the 2020 crash (S&P 500: 33.7%) and 16.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months and 12 months after the lows.
The short version
Teucrium Soybean Fund (SOYB) tracks soybean prices by holding a mix of three soybean futures contracts traded on the Chicago Board of Trade. It is a commodity pool rather than a traditional fund, so investors get a Schedule K-1 at tax time. It gives pure single-crop exposure, unlike broader farm funds such as Invesco DB Agriculture Fund (DBA). It also costs more, 1% a year against 0.85% for DBA, and it pays no income.
Price history
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SOYB +16.0% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| SOYB price data to Oct 27, 2026 | +20.2% | +16.0% | -1.6% | +3.8% | +3.0% | +0.4% |
- Over the year to Oct 27, 2026, SOYB returned +16.0%, 2nd of 8 among similar funds.
- Its 5-year annualized return was +3.8% and its 10-year +3.0%.
- In the 2020 COVID crash it fell 9.1% and regained its old high 5.4 months after the low.
- Its worst full calendar year was 2024 (-20.5%); its best was 2022 (+25.3%).
- The deepest fall in its price history was 53.8% (Sep 4, 2012 to Apr 28, 2020), recovered by Apr 20, 2022.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +20.2% |
| 2025 | +1.8% |
| 2024 | -20.5% |
| 2023 | -5.2% |
| 2022 | +25.3% |
| 2021 | +16.9% |
| 2020 | +23.0% |
| 2019 | -2.2% |
| 2018 | -9.5% |
| 2017 | -6.4% |
| 2016 | +10.2% |
| 2015 | -16.5% |
| 2014 | -9.0% |
| 2013 | -5.2% |
| 2012 | +9.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 5.2% over that stretch · deepest drop along the way 9.1%, back to its old high 5.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 15.4% over that stretch · deepest drop along the way 16.5%, back to its old high 12.1 months after the low |
What's inside
The fund holds futures contracts and the cash and Treasury bills backing them, not the commodity itself; its net assets were $48.2M as of Jun 30, 2026 (per its 10-Q). As a commodity pool it files 10-Q and 10-K reports instead of N-PORT holdings reports, so there is no holdings list.
How it works
SOYB aims to make the daily change in its net asset value match the daily change in its benchmark. The benchmark is a weighted average of the closing prices of three soybean futures contracts on the Chicago Board of Trade. A futures contract is an agreement to buy or sell a commodity at a set price on a future date. The three contracts are the second to expire (35%) and the third to expire (30%), both skipping August and September contracts, plus the November contract after the third one (35%). The sponsor, Teucrium Trading, LLC, says spreading the money across several delivery months is meant to soften the effects of contango and backwardation, which are price gaps between near and distant contracts.
The fund holds no soybeans. It holds futures, plus the cash and Treasury bills that back them. As each contract nears expiry, the fund sells it and buys a later one. This is called rolling. When later contracts cost more than nearer ones, rolling drags on returns, so the fund can drift well away from the spot price of soybeans.
SOYB is one series of Teucrium Commodity Trust, a Delaware statutory trust. It is not registered under the 1940 Act, the law that governs most mutual funds and ETFs, so it lacks some of the investor protections those funds have. The sponsor can change the fund's objective, benchmark or strategy without shareholder approval or advance notice. One example would be if position limits stopped it from holding its usual contracts.
What it really costs
- SOYB charges 1% a year, versus an average of 0.9% for the similar funds below (4th of 8, cheapest first).
Structure and tax notes
- A commodity pool: it holds futures contracts (and the cash and Treasury bills backing them), not the commodity itself, and it is not a 1940 Act investment company, so it lacks some fund-specific investor protections. It is taxed as a partnership: investors get a Schedule K-1 rather than a 1099 and owe tax on their share of its gains each year, even without selling. Expiring contracts must be rolled into later ones, and the price gap between them adds to or takes from returns, so over time it can drift well away from the spot price of what it tracks. Besides the sponsor's fee, it pays brokerage commissions and other costs.
In a retirement portfolio
SOYB is a single-commodity futures fund with no income and a history of deep, long slumps, so it fits best as a small position alongside core holdings.
SOYB offers something stock and bond funds don't: exposure to soybean prices, which have moved mostly apart from stocks. Its one-year beta was 0.04 as of October 27, 2026, meaning stock swings explained little of its moves. From the stock market's January 2022 peak to its October 2022 low, SOYB gained 15.4%. In the 2020 crash it dropped 9.1% and was back to its old high by August 2020. Its own slumps can be severe, though. From September 2012 to April 2020 it lost 53.8%, and it didn't regain that peak until April 2022. Its worst calendar year was 2024, at -20.5%. Anyone who had to sell during those stretches would have locked in losses. It pays no distributions and costs 1% a year plus trading costs. Past results don't predict the future, and a plan should weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want direct exposure to soybean prices through Chicago Board of Trade futures, rather than shares of farm or food companies.
- People looking for a holding that has moved apart from stocks: its one-year beta was 0.04 as of October 27, 2026.
- Investors comfortable filing a Schedule K-1 and owing tax on their share of the fund's gains, even in years they sell nothing.
Look elsewhere if
- Retirees who need regular income: SOYB has recorded no distributions, so any return comes only from changes in its share price.
- Investors who want broad farm-commodity exposure for less: Invesco DB Agriculture Fund (DBA) charges 0.85% a year, against SOYB's 1%.
- Anyone who can't wait out long slumps: SOYB fell 53.8% between 2012 and 2020 and didn't recover until April 2022.
Close alternatives
Matched by legacy category (no holdings report for this fund).
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| SOYB this fund | 1% | $48.2M | +16.0% | -1.6% |
| DBA Invesco DB Agriculture Fund | 0.85% | $822.2M | +8.0% | +11.9% |
| WEAT Teucrium Wheat Fund | 1% | $115.1M | +6.2% | -8.3% |
| CORN Teucrium Corn Fund | 1% | $51.4M | -2.4% | -7.8% |
| CANE Teucrium Sugar Fund | 1% | $11.0M | +23.8% | -8.7% |
| TAGS Teucrium Agricultural Fund | 1% | $10.1M | +11.2% | -6.0% |
| KROP Global X AgTech & Food Innovation ETF | 0.5% | $8.4M | +7.9% | +6.3% |
| TILL Teucrium Agricultural Strategy No K-1 ETF | 0.97% | $3.5M | +13.8% | -4.0% |
Questions investors ask
Does SOYB pay dividends?
No. SOYB has recorded no distributions. The fund holds soybean futures plus the cash and Treasury bills that back them, and it pays nothing out to shareholders. Any return comes from changes in its share price, which depend on soybean futures prices and the gains or losses from rolling contracts. Retirees who need cash flow would have to sell shares to get it, and that can mean selling at a loss during one of the fund's slumps.
Does SOYB issue a K-1?
Yes. SOYB is a commodity pool that is taxed as a partnership, so investors get a Schedule K-1 instead of the usual Form 1099. You owe tax each year on your share of the fund's gains, even if you sold no shares. K-1s can make tax filing more complicated. Teucrium offers a separate product, Teucrium Agricultural Strategy No K-1 ETF (TILL), built for investors who want to avoid that form.
What's the difference between SOYB and DBA?
SOYB holds only soybean futures, while Invesco DB Agriculture Fund (DBA) spreads its money across several farm commodities. DBA is cheaper, at 0.85% a year against SOYB's 1%. As of October 27, 2026, SOYB returned 16% over one year against 8% for DBA. Over three years, though, SOYB returned -1.6% a year while DBA returned 11.9% a year. SOYB is the narrower and more concentrated of the two.
Does SOYB track the price of soybeans?
Only roughly. SOYB tracks a mix of three soybean futures contracts, not the cash price of soybeans. Rolling expiring contracts into later ones can add to or take away from returns, so over time the fund can drift from soybean prices. Over its 15.1 years through October 27, 2026, SOYB returned just 0.4% a year. Over 10 years it returned 3% a year, or 34% in total.
What is SOYB's expense ratio?
SOYB's expense ratio was 1% for the period to June 30, 2026. That is the sponsor's fee, and the fund also pays brokerage commissions and other costs. The average among similar agriculture funds was 0.9%, which ranks SOYB 4th of 8 on cost. Teucrium's other single-crop funds for corn, wheat and sugar also charge 1%. Invesco DB Agriculture Fund (DBA) charges 0.85%.