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 18, 2024)
 
 
Spot
Excess Return
Total Return
S&P
GSCI™
586.4572
312.1098
3731.408
Energy

272.276
155.4005
669.0438
Non-
Energy
473.2587
194.779
2328.777
Industrial
Metals
470.3877
225.3973
1778.976
Precious
Metals
3116.636
260.7989
2679.193
Agriculture

379.8461
42.34214
506.3651
Livestock

422.7122
145.656
1741.52
Agriculture &
Livestock
366.8827
75.99142
908.742

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 18, 2024)
 
 
Spot
Excess Return
Total Return
S&P GSCI
Reduced
Energy
559.4927
275.7228
3296.359
S&P GSCI
Light
Energy
529.7769
244.064
2917.89
S&P GSCI
Ultra-Light
Energy
504.8554
222.2287
2656.947
S&P GSCI
Non-
Energy
473.2587
194.779
2328.777
S&P GSCI
Agriculture
& Livestock
366.8827
75.99142
908.742


S&P GSCI JPY Index Values
Table 3: S&P GSCI JPY Index Values (April 18, 2024)
 
 
Spot
Excess Return
Total Return
S&P GSCI JPY

169.4311
70.00142
86.53648

S&P GSCI Agriculture JPY Index Values
Table 4: S&P GSCI Agriculture JPY Index Values (April 18, 2024)
 
 
Spot
Excess Return
Total Return
S&P GSCI Agriculture JPY

181.9346
81.98946
101.3581

S&P GSCI Crude Index Values
Table 5: S&P GSCI Crude Index Values (April 18, 2024)
 
 
Spot
Excess Return
Total Return
S&P GSCI Crude

449.9615
154.864
482.0547

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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 18, 2024
Table 6: S&P GSCI™ TR Returns (April 18, 2024)
Daily -0.1%
MTD 1.03%
YTD 11.5%

S&P GSCI™ Enhanced Strategies
Table 7: S&P GSCI™ Enhanced Strategies (April 18, 2024)
 
 
Spot
Excess Return
Total Return
S&P GSCI™
E10

379.0809
370.9869
632.5815
S&P GSCI™
Enhanced
Commodity Index
 
334.1747
660.5416
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

 
362.2893
716.095
S&P GSCI™
E139

 
364.8248
698.8607