iShares S&P GSCI Commodity-Indexed Trust
iShares S&P GSCI Commodity-Indexed Trust is a Delaware statutory trust that issues Shares representing fractional interests in a portfolio of commodity index futures and collateral assets. The Trust is designed to provide exposure to a diversified basket of physical commodities through exchange-traded futures linked to the S&P GSCI Total Return Index.
Tilikausi 2025 · muutos edellisvuodesta
Kehitys 2020–2025
Liiketoiminta
Osuus liikevaihdostaShares issued by the Trust that provide investors fractional beneficial interests in its net assets.
Long positions in exchange-traded futures contracts tied to the S&P GSCI-ER commodity index.
Cash, U.S. Treasury securities, and similar short-term securities held as margin collateral.
Asiakkaat
The Trust is bought by investors seeking commodity exposure through an exchange-traded vehicle rather than direct futures trading. Its Shares are used by institutions and other market participants that want diversified access to physical commodities and a structure that is fully collateralized. The product is also relevant for portfolio managers using commodities for diversification, inflation sensitivity, or tactical asset allocation.
Buy Shares to gain diversified exposure to commodity futures within an exchange-traded structure.
Use the Trust as a portfolio building block for inflation sensitivity and diversification.
Use the Trust for shorter-term commodity exposure linked to broad commodity price movements.
Strategia
The Trust’s core strategy is to track the S&P GSCI Total Return Index through direct holdings of exchange-traded commodity futures and collateral assets. Its structure is designed to deliver broad commodity exposure in a fully collateralized format, while maintaining alignment with the index methodology and futures market mechanics.
The product value proposition depends on mirroring the S&P GSCI Total Return Index as closely as possible.
Collateralization is central to the Trust's structure and investor use case.
The index is designed to represent a broad basket of physical commodities across global markets.
Maantiede
The Trust is organized in the United States as a Delaware statutory trust and operates under U.S. securities and commodities market infrastructure. Its futures positions are listed on the Chicago Mercantile Exchange, so its activity is tied to U.S.-based trading, clearing, and custody arrangements. The underlying index references commodity futures traded in major industrialized markets globally, but the investment vehicle itself is U.S.-domiciled.
Riskit
The Trust is exposed to commodity price volatility because Share value moves with the futures contracts in the S&P GSCI-ER. It also faces operational, clearing, liquidity, and cybersecurity risks because it depends on futures markets, the CME clearing system, and service providers to calculate NAV and process creations and redemptions.
- Commodity price volatilityVaikutus: KorkeaTodennäköisyys: Kohtalainen
Share value depends on futures prices linked to a diversified commodity basket, which can change rapidly.
Kohdistuu: Index Futures and Share value
- Futures market liquidity and tracking errorVaikutus: KorkeaTodennäköisyys: Kohtalainen
The Trust relies on exchange-traded futures, and imperfect correlation can cause returns to diverge from the index.
Kohdistuu: Index tracking and execution
- Operational and cybersecurity riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen
NAV calculation, trading, recordkeeping, and shareholder processing depend on electronic systems and service providers.
Kohdistuu: Trust operations and Shareholder records
- Clearing and counterparty riskVaikutus: KeskitasoTodennäköisyys: Matala
The Trust is exposed to the CME clearing house and its futures commission merchant for settlement and margin recovery.
Kohdistuu: Index Futures and collateral assets
- Interest rate risk on collateral assetsVaikutus: MatalaTodennäköisyys: Matala
Cash equivalents and U.S. Treasury securities can decline in value when rates rise.
Kohdistuu: Collateral Assets
Kirjanpito
Harkinnanvaraiset erätIndex Futures are the main assets and must be valued at market prices each reporting date.
Vaikutus: Directly affects net asset value and reported results
U.S. Treasury securities and similar instruments are subject to market-based valuation changes.
Vaikutus: Affects asset balances and income recognition
Share issuance and redemption activity changes outstanding Shares and net assets.
Vaikutus: Influences per-Share metrics and NAV movement
The Trust's returns are driven by futures gains and losses rather than operating revenue.
Vaikutus: Shapes period-to-period performance and comparability
Samankaltaisia listattuja yhtiöitä
Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.
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Päivitetty: 24.9.2026