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 (January 25, 2022)
 
 
Spot
Excess Return
Total Return
S&P
GSCI™
611.0378
277.1887
3034.137
Energy

283.5456
123.7884
487.945
Non-
Energy
493.4885
206.3368
2258.702
Industrial
Metals
522.9597
263.1715
1901.754
Precious
Metals
2428.54
224.9509
2115.91
Agriculture

465.5812
47.63654
521.5738
Livestock

336.0057
139.1621
1523.42
Agriculture &
Livestock
394.7395
80.81321
884.8064

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 (January 25, 2022)
 
 
Spot
Excess Return
Total Return
S&P GSCI
Reduced
Energy
583.0733
257.0745
2813.928
S&P GSCI
Light
Energy
552.219
238.1148
2606.432
S&P GSCI
Ultra-Light
Energy
526.323
224.3516
2455.883
S&P GSCI
Non-
Energy
493.4885
206.3368
2258.702
S&P GSCI
Agriculture
& Livestock
394.7395
80.81321
884.8064


S&P GSCI JPY Index Values
Table 3: S&P GSCI JPY Index Values (January 25, 2022)
 
 
Spot
Excess Return
Total Return
S&P GSCI JPY

130.089
45.81323
51.85332

S&P GSCI Agriculture JPY Index Values
Table 4: S&P GSCI Agriculture JPY Index Values (January 25, 2022)
 
 
Spot
Excess Return
Total Return
S&P GSCI Agriculture JPY

164.3307
67.97379
76.93572

S&P GSCI Crude Index Values
Table 5: S&P GSCI Crude Index Values (January 25, 2022)
 
 
Spot
Excess Return
Total Return
S&P GSCI Crude

469.1438
133.645
380.8783

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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 January 25, 2022
Table 6: S&P GSCI™ TR Returns (January 25, 2022)
Daily 1.57%
MTD 9.35%
YTD 9.35%

S&P GSCI™ Enhanced Strategies
Table 7: S&P GSCI™ Enhanced Strategies (January 25, 2022)
 
 
Spot
Excess Return
Total Return
S&P GSCI™
E10

379.0809
370.9869
632.5815
S&P GSCI™
Enhanced
Commodity Index
 
292.2311
528.8665
S&P GSCI™
UltraLight Energy
Strategy 27
235.9618
175.6136
299.4632
S&P GSCI™
UltraLight Energy
Strategy 96
249.5462
165.1927
298.9766
S&P GSCI™
E96

 
317.5588
574.6885
S&P GSCI™
E139

 
305.1661
552.2807