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The iShares S&P GSCI Commodity-Indexed Trust ETF is heavily weighted to energy (51.8%), with oil as its largest component. GSG benefits from the current backwardation in oil futures but faces high volatility and is trading over 20% above its 200-day average. Despite strong momentum and a recent 30% price gain, I maintain a 'hold' rating due to elevated risk, stretched technicals, and EIA forecasts for oil price declines in 2027.
I am upgrading iShares S&P GSCI Commodity-Indexed Trust ETF to a "Buy," driven by a technical breakout and strong momentum. GSG benefits from rising inflation expectations and cross-asset momentum, with commodities leading all sub-asset classes year-to-date. Key technical support for GSG is at $35, with an upside target in the $41–$42 range and a bullish long-term trend.
The long-run return forecast for the Global Market Index continued to edge higher in September. Fueled by a decline in financial markets last month, GMI's projected return increased for a fifth straight month.
Commodities crushed all other asset classes last month, with gold and crude oil leading the way.
Monday's Big 3 is focused on the commodity space, as Dan Russo turns to three products he sees holding potential in the coming weeks and months. He walks investors through his key takeaways on the iShares S&P GSCI Commodity-Indexed Trust ETF (GSG), the Sprott Physical Gold Trust ETF (PHYS), and the VanEck Gold Miners ETF (GDX).
I downgrade iShares S&P GSCI Commodity-Indexed Trust ETF (GSG) from Buy to Hold as risks have increased and the price is now near $30.50. GSG's energy-centric exposure drove strong H1 2026 outperformance, but sector volatility and geopolitical risks warrant caution. Commodity markets remain bullish overall, but heightened volatility, cyclical corrections, and geopolitical uncertainty temper my conviction.
Dan Russo takes us through today's Big 3 by highlighting trends in the S&P 500 (SPX) as the index trades just under its all-time high. He also highlights the iShares Core US Aggregate Bond ETF (AGG) and the iShares S&P GSCI Commodity-Indexed Trust (GSG), believing it's important investors keep an eye on bonds and commodities in the current market environment.
Gold — the commodity most investors associate with the category — doesn't currently appear at all in one broad commodities fund's portfolio. Refined fuel contracts top the lineup instead.
SEC filings for GSG aren't indexed yet (common for recently launched funds). Browse the issuer's filings on SEC EDGAR directly.