S&P GSCI™ Components and Weights


Table 1 contains the index values for the S&P GSCI™ and its main sub-indices. All sub-indices of the S&P GSCI™ follow the same rules regarding world production weights, methodology for rolling and other functional characteristics as disclosed in the S&P GSCI™ manual.

S&P GSCI™ Index Values
Table 1: S&P GSCI™ Index Values (April 23, 2024)
 
 
Spot
Excess Return
Total Return
S&P
GSCI™
593.8186
316.0275
3781.014
Energy
276.0499
157.5544
678.8142
Non-
Energy
478.3494
196.8742
2355.553
Industrial
Metals
467.9268
224.218
1770.97
Precious
Metals
3040.538
254.4309
2615.705
Agriculture
390.4663
43.52599
520.9029
Livestock
432.9126
149.1708
1784.848
Agriculture &
Livestock
376.6437
78.01318
933.6009

The S&P GSCI Reduced Energy, Light Energy and UltraLight Energy sub-indices track the performance of a rolling basket of front-month commodity futures using the same conventions as the S&P GSCI™. The S&P GSCI Reduced, Light and UltraLight Energy Indices contain all commodities and differ from the benchmark S&P GSCI™ index only with regards to their lesser energy weighting. The S&P GSCI Reduced Energy Index calculation uses 1/2 of the S&P GSCI™ contract production weights for the energy components, while the S&P GSCI Light and S&P GSCI UltraLight Energy Index calculations use 1/4 and 1/8 of the S&P GSCI™ contract production weights for the energy components, respectively. Table 3 contains the index values for these two indices.

S&P GSCI Reduced and S&P GSCI Light Energy Index Values
Table 2: S&P GSCI Reduced and S&P GSCI Light Energy Index Values (April 23, 2024)
 
 
Spot
Excess Return
Total Return
S&P GSCI
Reduced
Energy
566.2178
279.037
3338.426
S&P GSCI
Light
Energy
535.8957
246.8828
2953.754
S&P GSCI
Ultra-Light
Energy
510.5155
224.7202
2688.704
S&P GSCI
Non-
Energy
478.3494
196.8742
2355.553
S&P GSCI
Agriculture
& Livestock
376.6437
78.01318
933.6009


S&P GSCI JPY Index Values
Table 3: S&P GSCI JPY Index Values (April 23, 2024)
 
 
Spot
Excess Return
Total Return
S&P GSCI JPY
171.7465
70.95802
87.78332

S&P GSCI Agriculture JPY Index Values
Table 4: S&P GSCI Agriculture JPY Index Values (April 23, 2024)
 
 
Spot
Excess Return
Total Return
S&P GSCI Agriculture JPY
187.227
84.37448
104.3827

S&P GSCI Crude Index Values
Table 5: S&P GSCI Crude Index Values (April 23, 2024)
 
 
Spot
Excess Return
Total Return
S&P GSCI Crude
456.8672
157.2408
489.8113

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Construction of the S&P GSCI™

Three S&P GSCI™ indices are published: excess return, total return and spot. The excess return index measures the returns accrued from investing in uncollateralized nearby commodity futures, the total return index measures the returns accrued from investing in fully-collateralized nearby commodity futures, and the spot index measures the level of nearby commodity prices. Thus, the excess return and total return indices provide useful representations of returns available to investors from investing in the S&P GSCI™. In fact, the total return (i.e., the return on the S&P GSCI™ total return index) is the measure of commodity returns that is completely comparable to returns from a regular investment in the S&P 500 (with dividend reinvestment) or a government bond, while the return on the excess return index is comparable to the return on the S&P 500 above cash.

S&P GSCI™-TR Returns as of April 23, 2024
Table 6: S&P GSCI™ TR Returns (April 23, 2024)
Daily 0.67%
MTD 2.37%
YTD 12.98%

S&P GSCI™ Enhanced Strategies
Table 7: S&P GSCI™ Enhanced Strategies (April 23, 2024)
 
 
Spot
Excess Return
Total Return
S&P GSCI™
E10
379.0809
370.9869
632.5815
S&P GSCI™
Enhanced
Commodity Index
 
338.174
668.9367
S&P GSCI™
UltraLight Energy
Strategy 27
235.9618
175.6136
299.4632
S&P GSCI™
UltraLight Energy
Strategy 96
237.5666
164.9546
316.0058
S&P GSCI™
E96
 
366.8437
725.6284
S&P GSCI™
E139
 
364.8248
698.8607