Commerce Trust Company
Commerce Trust Company is a Kansas City-based wealth management subsidiary of Commerce Bank that operates the Commerce Funds family of nine actively managed mutual funds, serving institutional, financial professional, and individual investors in the United States via Goldman Sachs distribution.
- Company typePrivate
- Founded1994
- HeadquartersKansas City, United States
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What Commerce Trust Company does
Commerce Trust Company is a Kansas City, Missouri-based wealth management and trust services firm founded in 1906 and operating as a subsidiary of Commerce Bank. Its primary product surface is the Commerce Funds family, a set of nine actively managed mutual funds that began on December 12, 1994 with approximately $251 million in initial assets and had grown to more than $2.5 billion in assets under management by March 31, 2025. The fund family comprises four equity funds (Growth, MidCap Growth, MidCap Value, Value) and five fixed-income funds (Bond, Short-Term Government, National Tax-Free Intermediate Bond, Missouri Tax-Free Intermediate Bond, Kansas Tax-Free Intermediate Bond), with the most recent product launch being the MidCap Value Fund on November 13, 2023.
Commerce Investment Advisors, Inc., a Commerce Bank subsidiary, acts as investment adviser, while Goldman Sachs & Co. LLC serves as the sole distributor and administrator, providing access to institutional and financial professional channels. The firm serves three persona segments — institutional investors (retirement plan sponsors, consultants, nonprofit representatives), financial professionals (investment advisors and brokerage professionals), and individual investors — with a $1,000 minimum initial investment and a self-serve website (commercefunds.com) supporting account access and prospectus delivery. Revenue is generated primarily through recurring investment advisory fees and fund expense ratios ranging from 0.62% to 0.84%; no revenue figure is publicly disclosed.
Operationally, the firm is U.S.-domiciled (mutual funds are offered and sold only to U.S. residents), runs on standard fund infrastructure (Broadridge for proxy voting, Goldman Sachs for distribution and administration, SecureAccountView for account access), and is led by KC Matthews, CFA (Chief Market Strategist) and David Hagee (CIO). The investment thesis emphasizes identifying mispriced assets and low-volatility equities rather than passive index replication, with Bond Fund assets representing approximately 49% of total fund AUM as of December 31, 2025.
Commerce Trust Company firmographics
Firmographics- Name
- Commerce Trust Company
- Legal name
- Commerce Funds
- Website
- https://commercefunds.com
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Commerce Trust Company is a Kansas City-based wealth management subsidiary of Commerce Bank that operates the Commerce Funds family of nine actively managed mutual funds, serving institutional, financial professional, and individual investors in the United States via Goldman Sachs distribution.
- Ownership category
- akta.pro rank
Commerce Trust Company industry classification
Industry- Product category
- Asset Management (Mutual Funds)
- NAICS
- Open-End Investment Funds (525910), Portfolio Management and Investment Advice (523940), Trust, Fiduciary, and Custody Activities (523991), Open-End Investment Funds (52591)
- SIC
- Investment Advice (6282), Finance Services (6199)
- akta.pro primary industry
- Bank-Affiliated Retail Wealth Management (FSAAAAAB)
- akta.pro secondary industries
- Directed Trust & Trust Advisory Services (FSAAANAK), Corporate Trust Services (Trustee, Agent & Escrow Roles) (FSAEAKAB), AML/KYC, Investor Onboarding & Compliance Services (FSAAAMAE)
Keywords
Where Commerce Trust Company is headquartered
LocationHeadquarters
- HQ city
- Kansas City
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Commerce Trust Company business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Investment Advisory Fees: Commerce Investment Advisors, Inc., a subsidiary of Commerce Bank, serves as investment advisor and receives a fee for its services. Fees are calculated as a percentage of assets under management across the nine mutual funds.
- Expense Ratio Charges: Each fund charges annual operating expenses expressed as expense ratios (ranging from 0.62% to 0.84% for current/subsidized ratios), which cover management, administration, and distribution costs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | One time/ perpetual license | Minimum Initial Investment |
| Subscription | Monthly | SEC Subsidized and Unsubsidized Yields |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Commerce Trust Company product offering
Product offeringCore offering
Commerce Trust Company is the wealth management and trust division of Commerce Bank, providing investment management through its subsidiary Commerce Investment Advisors, Inc., which manages Commerce Funds — a family of nine actively managed mutual funds covering equity (Growth, MidCap Growth, MidCap Value, Value) and fixed-income (Bond, Short-Term Government, National Tax-Free Intermediate Bond, Missouri Tax-Free Intermediate Bond, Kansas Tax-Free Intermediate Bond) strategies. The funds are distributed by Goldman Sachs & Co. LLC to institutional investors, financial professionals, and individual investors, with more than $2.5 billion in assets under management as of March 31, 2025.
Product overview
Commerce Funds is a family of nine actively managed mutual funds offered by Commerce Investment Advisors, Inc. (a subsidiary of Commerce Bank) and distributed by Goldman Sachs & Co. LLC. The fund family covers a range of investment objectives including current income, capital preservation, and aggressive growth. The portfolio consists of four Equity Funds (Growth, MidCap Growth, MidCap Value, and Value) and five Fixed-Income Funds (Bond, Short-Term Government, National Tax-Free Intermediate Bond, Missouri Tax-Free Intermediate Bond, and Kansas Tax-Free Intermediate Bond). With more than $2.5 billion in assets under management as of March 31, 2025, the funds are designed to meet diverse investor needs from institutional investors to individuals.
Differentiator
Problem solved
Functional benefit
Products and services
- Growth Fund Equity fund focused on stocks of companies that have shown and are expected to show above-average growth in earnings; seeks capital appreciation as its primary investment objective.
- MidCap Growth Fund Equity fund that invests in a diversified portfolio of equity securities of medium-sized companies that show the potential for above-average growth in earnings. The strategy screens for low volatility first; seeks capital appreciation.
- MidCap Value Fund (CFMVX) Equity fund that invests in a diversified portfolio of equity securities of medium-sized companies representing excellent value relative to their current price; seeks capital appreciation and, secondarily, current income.
- Value Fund Equity fund that invests in a diversified portfolio of equity securities of companies representing excellent value relative to their current price; seeks capital appreciation and, secondarily, current income.
- Bond Fund Fixed-income fund that invests primarily in a broad range of government and investment-grade corporate bonds and other fixed-income securities; seeks total return through current income and, secondarily, capital appreciation.
- Short-Term Government Fund Fixed-income fund that invests primarily in U.S. Government securities and government mortgage-backed securities; seeks current income consistent with preservation of principal.
- National Tax-Free Intermediate Bond Fund Fixed-income fund focused on a broad range of investment-grade municipal securities; seeks current income exempt from federal income tax consistent with preservation of capital.
- Missouri Tax-Free Intermediate Bond Fund Fixed-income fund focused primarily on municipal obligations issued by the State of Missouri and its political subdivisions; seeks current income exempt from federal and Missouri income taxes consistent with preservation of capital.
- Kansas Tax-Free Intermediate Bond Fund Fixed-income fund focused primarily on municipal obligations issued by the State of Kansas and its political subdivisions; seeks current income exempt from federal and Kansas income taxes consistent with preservation of capital.
Quantifiable outcome
- Disciplined Mid Cap Growth Strategy that screens for low volatility first
Companies that use Commerce Trust Company
Customer profileSegments3 records
Ideal customer profiles3 records
Commerce Trust Company technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature1 record
Commerce Trust Company partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Commerce Investment Advisors, Inc.coreA subsidiary of Commerce Bank, Commerce Investment Advisors, Inc. serves as the investment advisor for Commerce Funds, a family of nine actively managed mutual funds. The advisor provides professional investment management, portfolio construction, and proxy voting decisions for the fund family.
- Goldman Sachs & Co. LLCcoreGoldman Sachs & Co. LLC is the distributor and administrator for The Commerce Funds. They provide distribution services, making the fund family available to institutional and individual investors through their network of financial professionals and wealth management channels.
Scale indicators4 records
Recent moves6 records
Expansion highlights4 records
Commerce Trust Company competitors and assessment
Company assessmentDirect peers
- Nuveen (TIAA): Large manager with a strong municipal bond franchise across national and single-state strategies, plus actively managed equity funds. Comparable to Commerce Funds particularly in the tax-free fixed-income segment and active multi-asset lineup.
- T. Rowe Price: Operates a large family of actively managed mutual funds spanning equity, fixed-income, and tax-free products. Directly comparable to Commerce Funds in product type, active-management philosophy, and distribution through financial advisors and retirement plans.
- American Century Investments: Also a Kansas City-based active mutual fund manager with a similarly diversified family of equity and fixed-income funds. American Century is a direct competitor in active management style, geographic origin, and distribution channels, and is the most comparable peer to Commerce Funds.
- Invesco: Global asset manager offering a broad family of actively managed mutual funds including equity, fixed-income, and municipal bond products. Comparable to Commerce Funds in product breadth and active investment approach, though at significantly larger scale.
- Dimensional Fund Advisors: Actively managed mutual fund firm built around identifying mispriced assets and tilts toward smaller-cap and value stocks with disciplined factor exposure. Closely comparable to Commerce Funds' emphasis on identifying mispriced assets and low-volatility equity screens.
- Allspring Funds (formerly Wells Fargo Funds): Bank-affiliated active mutual fund complex offering equity, fixed-income, and tax-free portfolios distributed through financial advisors. Structurally similar to Commerce Funds in its bank-parent affiliation and multi-channel fund lineup.
Broad incumbents
- Fidelity Investments: Mass-market mutual fund provider with extensive active equity, fixed-income, and money-market offerings distributed through advisor and direct channels. Comparable to Commerce Funds in offering a broad active lineup but at much larger scale and with in-house distribution.
- BlackRock: Largest global asset manager, offering active and index mutual funds (including iShares ETFs) across equity, fixed-income, and municipal categories. Competes broadly with Commerce Funds across institutional and retail channels, primarily through scale and passive vehicle dominance.
- Vanguard: Largest mutual fund complex in the U.S., offering actively and passively managed equity, fixed-income, and tax-free municipal funds. Competes with Commerce Funds across virtually every product line, primarily as a low-cost passive incumbent that pressures fees industry-wide.
- JPMorgan Asset Management: Large bank-affiliated asset manager offering active and multi-asset mutual funds including equity, fixed-income, and tax-free strategies. Comparable to Commerce Funds in its bank-affiliated active fund family structure, though at much greater scale and with global distribution.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
Commerce Trust Company social profiles
Digital presenceCommerce Trust Company compliance and trust
Trust signalCompliance1 record
Commerce Trust Company financial estimates
Financial estimateRevenue estimate
Valuation estimate
Commerce Trust Company leadership team
Management profileNumber of profiles
Profiles2 records
Commerce Trust Company funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Commerce Trust Company M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Commerce Trust Company
What does Commerce Trust Company do?
Commerce Trust Company is the wealth management and trust division of Commerce Bank, providing investment management through its subsidiary Commerce Investment Advisors, Inc., which manages Commerce Funds — a family of nine actively managed mutual funds covering equity (Growth, MidCap Growth, MidCap Value, Value) and fixed-income (Bond, Short-Term Government, National Tax-Free Intermediate Bond, Missouri Tax-Free Intermediate Bond, Kansas Tax-Free Intermediate Bond) strategies. The funds are distributed by Goldman Sachs & Co. LLC to institutional investors, financial professionals, and individual investors, with more than $2.5 billion in assets under management as of March 31, 2025.
Is Commerce Trust Company a public or private company?
Commerce Trust Company is a private company. It is classified as corporate owned and is currently operating.
When was Commerce Trust Company founded?
Commerce Trust Company was founded in 1994. It employs 501 to 1,000 people.
Where is Commerce Trust Company based?
Commerce Trust Company is headquartered in Kansas City, United States, in the North America region.
How does Commerce Trust Company make money?
Two revenue lines are on record. Investment Advisory Fees are the primary driver. The others are expense Ratio Charges.
Who are Commerce Trust Company's main competitors?
Direct peers on record are Nuveen (TIAA), T. Rowe Price, American Century Investments, Invesco, Dimensional Fund Advisors and Allspring Funds (formerly Wells Fargo Funds). Broad incumbents are Fidelity Investments, BlackRock, Vanguard and JPMorgan Asset Management.
Does Commerce Trust Company have an API?
No public API is recorded for Commerce Trust Company.
What industry is Commerce Trust Company in?
Commerce Trust Company's product category is Asset Management (Mutual Funds). Its primary akta.pro industry code is FSAAAAAB, Bank-Affiliated Retail Wealth Management, with a secondary code of FSAAANAK, Directed Trust & Trust Advisory Services. Its NAICS code is 525910 and its SIC code is 6282.