The Vista Commodity Index rose 23.8% in 2025 besting both the Bloomberg and S&P GSCI commodity indexes up 15.9% and 5.8%, respectively. Commodity index returns since Vista's inception are shown below:
Vista's superior performance is primarily due to overwieghting in gold and other precious metals. The Bloomberg index bested the S&P 500 ETF, SPY, also due to its precious metals weighting. The GSCI index ETF, GSG, was drawn down by its overweighting in energy, especially crude oil.
STILL, the 10 and 15 year returns were far below SPY reflecting the commodity collapse 10 to 15 years ago. While the long term commodities were weak, the yearly chart clearly shows the strength of metals in 2025.
Both Vista, by a lot, and Bloomberg, by a little, beat the S&P 500 ETF SPY. SPY fell almost 20% during April's tarif tantrum whle Vista and DJP barely moved lower.
WHY do I use index ETFs instead of indexes? Simple answer: investors cannot buy indexes! We can and do buy index ETFs. Also, these particular index ETFs are the benchmark ETFs in their categories with the lowest tracking errors. SPY is the olderst S&P 500 ETF in the world and trades largest, lowest fees and lowest tracking error ETF with Vanguard's S&P500 ETF, VOO (not shown).
Why use "excess return" indexes and not the "headline" "total return indexes"? Total return indexes include, wrongly in my humble opinion, the assumed Treasury Bill interest earned on the margin dollars held in a commodity account. Excess return only measures the return of the commodity futures postions. Vista, DJP and GSG all reflect the excess return indexes.
Vista Commodity Index Component Returns
NYMEX Silver leads the pack up 138% in 2025! Silver has lead the commodity pack for the last 20 years! Three other names: Gold, Copper and Coffee we up over 50%. The rest of the pack were slightly up or significantly lower ending the year. The declines, imho, are exaggerated due to commods coming off record highs last year.
