Standard & Poor’s, announced that the S&P GSCI ended May with a 13.19% decline as global economic concerns pressured the…
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Index during the month. Energy (-15.92%) was the worst performing sector in May, while Precious Metals (+2.33%) was the only sector to post a positive monthly return.
“Economic sensitive assets were highly correlated in May, as the 14% plunge in front month crude oil futures drove down the returns of several other S&P GSCI components,” says Michael McGlone, Director of Commodity Indexing at S&P Indices and author of the Market Attributes Commodities posted monthly to www.spgsci.standardandpoors.com. “When the world’s most widely traded commodity futures contract declines this rapidly, it often has a tendency to impact most other commodities, and that certainly was the case with crude oil in May.”
In May, crude oil futures witnessed its largest monthly percentage decline since December 2008 as the S&P GSCI Energy Index fell 15.92% during the month. Year-to-date (YTD), the Index has fallen back into negative territory with a return of -11.99%.
Flight to safety and risk reduction was also at play in May, as strength in gold led the S&P GSCI Precious Metals Index to post a 2.33% monthly gain despite a 10.56% decline in the S&P GSCI Industrial Metals Index.
The S&P GSCI ended May with a Year-to-date decline of 11.58%, accompanied by a 14.21% YTD decline in the Euro currency versus the U.S. Dollar. By the end of May, only the S&P GSCI Precious Metals and Livestock sector indices maintained year-to-date gains.
Enhanced indices fared a bit better in May, as measured by the 11.80% decline in the S&P GSCI Enhanced Index, which is now registering a year-to-date loss of 8.58%. The 12.01% monthly decline in the S&P GSCI 3-Month Forward Index has now resulted in a 8.49% year-to-date decline for the Index.
A table showing performance returns for the S&P GSCI and its components can be found below.
The S&P GSCI is the most closely followed benchmark for investment performance in the commodity markets.
| S&P GSCI Analysis for May 28, 2010 | |||||||||
| Weight | Value | MTD | QTD | YTD | YTD | YTD | 3-MO. | 12-MO | |
| S&P GSCI Index | (%) | 5/28/2010 | Change | Change | Change | High | Low | Change | Change |
| S&P GSCI | 100.00% | 4009.25 | -13.19% | -10.78% | -11.58% | 4735.24 | 3822.46 | -9.05% | -3.86% |
| S&P GSCI Energy Index | 70.19% | 894.37 | -15.92% | -13.19% | -11.99% | 1072.41 | 836.19 | -9.91% | -4.68% |
| S&P GSCI Petroleum Index | 66.07% | 1944.11 | -17.08% | -14.20% | -10.97% | 2362.27 | 1816.10 | -9.57% | -0.97% |
| S&P GSCI Non-Energy Index | 29.81% | 2075.93 | -6.15% | -4.68% | -10.57% | 2397.87 | 2058.86 | -6.98% | -1.81% |
| S&P GSCI Industrial Metals Index | 8.30% | 1551.01 | -10.56% | -13.04% | -9.13% | 1866.78 | 1455.92 | -5.57% | 39.07% |
| S&P GSCI Precious Metals Index | 3.62% | 1570.79 | 2.33% | 8.45% | 10.31% | 1616.51 | 1353.78 | 8.66% | 24.73% |
| S&P GSCI Agriculture Index | 12.88% | 490.98 | -6.02% | -2.83% | -20.23% | 632.95 | 490.98 | -14.13% | -22.60% |
| S&P GSCI Livestock Index | 5.02% | 2134.90 | -4.48% | -2.57% | 4.24% | 2263.15 | 1996.51 | 1.14% | -0.35% |
| S&P GSCI Softs Index | 3.99% | 65.57 | -5.06% | -8.16% | -26.35% | 93.36 | 64.85 | -22.27% | -4.60% |
| S&P GSCI Enhanced Commodity Index | 580.47 | -11.80% | -7.68% | -8.58% | 665.25 | 554.71 | -5.77% | 0.57% | |
| S&P GSCI Capped Component 35/20 Index | 150.80 | -9.06% | -7.21% | -11.80% | 178.17 | 146.62 | -8.27% | -6.06% | |
| S&P GSCI 3 Month Forward Index | 544.64 | -12.01% | -7.74% | -8.49% | 625.78 | 519.45 | -5.83% | 1.08% | |
Source: S&P Indices
Source: ETFWorld – Standard & Poor’s
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