Vista Commodity Basket up 11% in 1H2024

In the first half of 2024, the Vista Commodity Basket rose 11% while the comparable GSCI and Bloomberg indexes were up only 9% to 3% for the same period. 

Commodity benchmark continuously compounded returns normalzed toinception date of Vista basket, 4/30/2009 = 1000. 

Vista = Vista Commodity Basket
BCOM = Bloomberg Commodity Excess Return Index
GSCI = S&P GSCI Excess Return Commodity Index
Data Sources: barchart.com, bloomberg.com and spglobal.com

Note: Vista outperforms across the board! So, why Excess Return indexes? Because the Vista Basket is a simple basket of long-dated commodity futures contract price changes with no add-ons for interest or any other gains or charges. Excess Return indexes simarly include ONLY futures contract price changes with no add-ons for TBill collateral interest. The "Headline" or Total Return indexes DO include these credits.

While the Vista Basket beat the energy weighted GSCI and diversified BCOM, AGAIN, in the first half this is just a repeat of almost every rolling period since the inception of the Vista Basket in 2009. How did the Vista Basket do it this year? Look at the sector returns:

Vista's weighting of metals has given it the leg up on both the Bloomberg and GSCI commodity indexes. Individual commodities give a different picture:

These are good times for West Africa and other cocoa and coffee producing countries. We will see how long it lasts.