As of July 2026, the fund holds 23 commodity futures positions with approximately $836.6 million in assets under management and a 0.75% expense ratio. The trust has delivered strong recent performance, returning 37.1% year-to-date and 49.7% over the past 12 months, significantly outperforming its Commodities Broad Basket category average.
Cyborg Score Rationale
GSG is a well-established, liquid commodity futures tracking vehicle with transparent indexing and strong recent performance driven by commodity price appreciation. However, the product carries inherent commodity market volatility risk, limited diversification within the futures complex, and a structurally higher expense ratio than some peer commodity ETFs.
Top Insights
Year-to-date returns of 37.1% significantly exceed category average of 23.8%, indicating strong commodity market tailwinds in 2026.
Commodities markets are historically extremely volatile and commodity futures trading may be illiquid, presenting elevated risk relative to traditional equity/bond ETFs.
iShares launched GSG in 2006, making it a 20-year-old commodity futures vehicle with a two-decade track record of index replication.
The trust's value depends on S&P GSCI Total Return Index futures contracts and cash collateral held to satisfy margin requirements, using a fully collateralized structure.
Named Competitors
Invesco DB Commodity Index Tracking Fund — Broad commodity futures tracking ETF
Invesco DB Agriculture Fund — Agricultural commodity futures ETF