Broad commodity indices have surged 200% since October 2020, outpacing the Nasdaq and S&P 500 despite low investor allocation.
Commodities have emerged as the top-performing asset class this decade, with broad indices like the S&P GSCI rising 200% since October 2020. Gold climbed 140%, while this year alone commodities are up 37%, led by an 81% surge in petroleum.
In contrast, crypto indices gained 157%, the Nasdaq 145%, and the S&P 500 117% over the same period. Despite rotating bottlenecks across gold, copper, silver, coffee, cocoa, oil, and diesel, the upward trend in commodities has persisted.
Wall Street remains underweight in commodities, even as the sector continues to deliver outsized returns compared to equities and digital assets.