GSPiPath S&P GSCI Total Return Index ETN
GSP Fund Description
GSP tracks a broad index of commodities futures contracts weighted according to global production.
GSP Factset Analytics Insight
GSP is the best of three ETPs on the market that track the S&P GSCI. Of course, that doesn't necessarily mean it's the best broad-based commodities product: Like the GSCI, it uses front-month futures contracts for exposure to its target commodities, making it especially sensitive to the forces of contango. Also like the GSCI, it has heavy exposure to energy (over 70%), and WTI crude and Brent crude oil in particular (almost 50%). However, if a plain-vanilla, production-weighted index of commodities is what you're looking for, it's hard to beat GSP. The only dark mark here is liquidity: Unlike some of its brethren that trade many millions of dollars on most days, GSP has a median daily volume of about $2M, with fairly wide spreads.
GSP Portfolio Management
GSP Tax Exposures
GSP Fund Structure
GSP Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of GSP. GSP is rated a 5 out of 5.
GSP Sector Breakdown
GSP Tenor Strategy
GSP invests solely in front-month futures contracts. This means that the fund will be particularly sensitive to changes in spot prices, but may be priced higher or lower than spot, sometimes dramatically.
GSP Rolling Strategy
GSP rolls contracts over an annually pre-determined 5 day period each month.