Commodity price volatility
Share value depends on futures prices linked to a diversified commodity basket, which can change rapidly.
- Scope
- Index Futures and Share value
- Materiality
- high
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.
133,9 %
−17,0 %
| % | |
|---|---|
| Exchange-traded trust shares | 100% Shares issued by the Trust that provide investors fractional beneficial interests in its net assets. |
| Commodity index futures exposure | 0% Long positions in exchange-traded futures contracts tied to the S&P GSCI-ER commodity index. |
| Collateral assets | 0% Cash, U.S. Treasury securities, and similar short-term securities held as margin collateral. |
The Trust is bought by investors seeking commodity exposure through an exchange-traded vehicle rather than direct...
- Institutional investorsprimary
Buy Shares to gain diversified exposure to commodity futures within an exchange-traded structure.
- Asset managers and portfolio allocatorsprimary
Use the Trust as a portfolio building block for inflation sensitivity and diversification.
- Tactical and hedging investorssecondary
Use the Trust for shorter-term commodity exposure linked to broad commodity price movements.
The Trust is organized in the United States as a Delaware statutory trust and operates under U.S...
- •U.S.-domiciled Delaware statutory trust
- •Futures contracts listed on the Chicago Mercantile Exchange
- •Uses U.S. Treasury securities and cash as collateral
- •Underlying commodities are sourced from global futures markets
The Trust’s core strategy is to track the S&P GSCI Total Return Index through direct holdings of exchange-traded...
01
Maintain close index trackingshort-term
The product value proposition depends on mirroring the S&P GSCI Total Return Index as closely as possible.
02
Support fully collateralized exposuremedium-term
Collateralization is central to the Trust's structure and investor use case.
03
Preserve diversified commodity exposurelong-term
The index is designed to represent a broad basket of physical commodities across global markets.
The Trust is exposed to commodity price volatility because Share value moves with the futures contracts in the S&P...
Futures market liquidity and tracking error
The Trust relies on exchange-traded futures, and imperfect correlation can cause returns to diverge from the index.
- Scope
- Index tracking and execution
- Materiality
- high
Clearing and counterparty risk
The Trust is exposed to the CME clearing house and its futures commission merchant for settlement and margin recovery.
- Scope
- Index Futures and collateral assets
- Materiality
- high
Operational and cybersecurity risk
NAV calculation, trading, recordkeeping, and shareholder processing depend on electronic systems and service providers.
- Scope
- Trust operations and Shareholder records
- Materiality
- medium
Interest rate risk on collateral assets
Cash equivalents and U.S. Treasury securities can decline in value when rates rise.
- Scope
- Collateral Assets
- Materiality
- medium
Fair value of futures contracts
Directly affects net asset value and reported results
Valuation of collateral securities
Affects asset balances and income recognition
Creation and redemption accounting
Influences per-Share metrics and NAV movement
Derivative and futures accounting
Shapes period-to-period performance and comparability
: 29.4.2026