S&P GSCI

S&P GSCI is a commodity index calculated at the prices of the world commodity market. It was created by Goldman Sachs, as indicated by the letters GS in the name, now it is administered by S&P. Index weights are determined based on global production and adjusted based on futures trading volume. The share of oil and gas components in the index is high and exceeds 50% (for example, in 2020 it was 61.71%). This is noticeable in the dynamics of the index in April 2020, it was declining due to the collapse of oil prices. Currently the index comprises 24 futures: 1) Agricultural commodities: wheat from Chicago, wheat from Kansas, corn, soybeans, coffee, sugar, cocoa, cotton, pork, livestock, feed cattle; 2) Oil and gas products: WTI oil, fuel oil, gasoline, Brent oil, gas oil, natural gas; 3) Non-ferrous metals: aluminum, copper, nickel, lead, zinc; 4) Precious metals: gold and silver. In the 2000s, long-term index investment was considered a hedge against commodity inflation. It is used in comparing of the profitability of commodity assets with each other. It is a benchmark for commodity ETFs