# iShares S&P GSCI Commodity-Indexed Trust > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/fi/companies/iShares S&P GSCI Commodity-Indexed Trust). ## Overview 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. ## Products & services • Shares representing beneficial interests in the Trust • Exposure to S&P GSCI commodity index futures • Fully collateralized commodity futures investment vehicle • Cash and U.S. Treasury collateral management - **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. - Shares representing beneficial interests in the Trust - Exposure to S&P GSCI commodity index futures - Fully collateralized commodity futures investment vehicle - Cash and U.S. Treasury collateral management ## Customers 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. - **Institutional investors** (primary) — Buy Shares to gain diversified exposure to commodity futures within an exchange-traded structure. - **Asset managers and portfolio allocators** (primary) — Use the Trust as a portfolio building block for inflation sensitivity and diversification. - **Tactical and hedging investors** (secondary) — Use the Trust for shorter-term commodity exposure linked to broad commodity price movements. - Institutional investors seeking diversified commodity exposure - Asset managers using commodities in portfolio allocation - Investors preferring exchange-traded access over direct futures - Market participants seeking collateralized index-linked exposure ## Geography 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. - 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 ## Strategy 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. - **Maintain close index tracking** (short-term) — The product value proposition depends on mirroring the S&P GSCI Total Return Index as closely as possible. - **Support fully collateralized exposure** (medium-term) — Collateralization is central to the Trust's structure and investor use case. - **Preserve diversified commodity exposure** (long-term) — The index is designed to represent a broad basket of physical commodities across global markets. - Track the S&P GSCI Total Return Index - Hold exchange-traded commodity futures directly - Maintain full collateralization with cash and Treasuries - Preserve index methodology and commodity basket exposure ## Risks 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 volatility** [high] — Share value depends on futures prices linked to a diversified commodity basket, which can change rapidly. - **Futures market liquidity and tracking error** [high] — The Trust relies on exchange-traded futures, and imperfect correlation can cause returns to diverge from the index. - **Clearing and counterparty risk** [medium] — The Trust is exposed to the CME clearing house and its futures commission merchant for settlement and margin recovery. - **Operational and cybersecurity risk** [medium] — NAV calculation, trading, recordkeeping, and shareholder processing depend on electronic systems and service providers. - **Interest rate risk on collateral assets** [low] — Cash equivalents and U.S. Treasury securities can decline in value when rates rise. - Commodity prices can move sharply and unpredictably - Futures market liquidity can affect tracking and execution - Clearing house or FCM default could impair recoveries - Operational or cyber incidents could disrupt NAV and trading - Interest rate changes affect collateral securities ## Accounting The Trust’s financial reporting depends heavily on fair value measurement of exchange-traded futures and collateral securities, which can move materially from period to period. Because the Trust is a pass-through investment vehicle with creations and redemptions of Shares, NAV and per-Share results are sensitive to unit activity, market prices, and the timing of valuation at period end. - **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 - Fair value measurement of Index Futures drives reported NAV - Collateral securities are marked to market and affect asset values - Share creations and redemptions change net assets and per-Share amounts - Estimates and assumptions affect financial statement presentation - Interest income and futures gains/losses can vary with market conditions --- *Last updated: 2026-04-29T05:12:29.438094+00:00*