iShares S&P GSCI Commodity-Indexed Trust

GSG is a commodity index trust that provides exposure to a diversified basket of commodity futures through a passive, index-tracking structure. The trust holds long positions in index futures contracts tied to the S&P GSCI-ER (Goldman Sachs Commodity Index-Excess Return), which encompasses energy, metals, and agricultural commodities. In addition to commodity futures exposure, the trust earns returns on U.S. Treasury securities held as collateral to support its futures positions, creating a blended return profile that combines commodity price movements with fixed-income yields.

The trust operates by maintaining futures positions across the commodity complex while deploying collateral assets—primarily U.S. Treasury securities—to satisfy margin requirements. This structure allows investors to gain commodity exposure through an exchange-traded vehicle rather than direct futures trading. The trust is incorporated in Delaware and trades on the NYSE.

The trust functions as a passive investment vehicle without traditional business segments or operational employees. Its scale reflects the size of assets held under management and the breadth of commodity futures contracts within the underlying index. Geographic reach is determined by the global nature of commodity markets and the international composition of the S&P GSCI-ER index.