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Commodity ETFs

A simple way to track the price of raw materials like gold, oil, or a broad basket of goods.

See Commodity ETFs New to ETFs? →
Gold, oil, and broad baskets

What Commodity ETFs are

Commodities are raw physical goods — things like gold, silver, oil, natural gas, or farm products such as wheat and coffee. A commodity ETF is built to follow the price of one of these goods, or a broad basket of several at once, so you can track them without storing barrels or bars yourself.

One detail matters up front: in Europe, most single-commodity products are technically ETCs (Exchange Traded Commodities), not ETFs. An ETC is a debt security backed by the actual metal or by collateral, rather than a fund that holds company shares. They trade on an exchange the same way, but the legal wrapper is different — you'll often see "ETC" in the name.

Beginners are often drawn to commodities as a diversifier — their prices can move differently from stocks and bonds. The trade-off is that they can be volatile, they usually pay no dividends or interest, and their value depends purely on what buyers will pay. That makes them a niche building block, not a core holding for most people.

At a glance

Common examplesGold, silver, oil, natural gas, or broad baskets
Broad-basket indexesBloomberg Commodity Index, S&P GSCI
Typical fee (TER)~0.20%–0.50% a year; gold ETCs often ~0.12%–0.40%
Defining traitUsually an ETC (debt security), not an equity fund
Risk levelHigher — volatile, no income; single-commodity holdings can swing sharply

Why beginners look here

A different kind of diversifier

Commodity prices can move independently of stocks and bonds, which some investors use to spread risk across their portfolio.

Access without the hassle

You can track gold or oil through one exchange-traded product instead of buying, storing, or insuring the physical goods.

Volatile and pays no income

Prices can swing sharply on supply and demand, and unlike shares or bonds these usually pay no dividends or interest — all your return relies on the price.

What to look for

Physically backed vs. futures-based Some products hold the real metal (common for gold), while others use futures contracts — which can lose value over time through "rolling" costs, so check which one you're looking at.
The ETC structure and collateral Because most are debt securities, read how the product is backed — whether by allocated physical metal or by collateral — to understand what stands behind it.
The yearly fee (TER) The total expense ratio is charged every year whether the price rises or falls, so compare it across similar products.
Currency exposure Commodities are usually priced in US dollars, so a euro-based investor's return also moves with the euro–dollar exchange rate.

Popular Commodity ETFs

A few of the largest, pulled live from the screener — an example, not a recommendation.

SPDR® Gold Shares

GLD · US78463V1070
Commodities US Unknown
Yearly fee (TER)?0.40%
1-yr return+27.3%
Fund size?€122.7bn

iShares Physical Gold ETC

PPFB · IE00B4ND3602
Commodities IE Reinvests
Yearly fee (TER)?0.12%
1-yr return+22.2%
Fund size?€29.5bn

SPDR® Gold MiniShares®

GLDM · US98149E3036
Commodities US Unknown
Yearly fee (TER)?0.10%
1-yr return+27.7%
Fund size?€25.3bn

AMUNDI PHYSICAL GOLD ETC (C)

GLDA · FR0013416716
Commodities FR Reinvests
Yearly fee (TER)?0.12%
1-yr return+29.2%
Fund size?€10bn

UBS Gold ETF USD dis

OAUE · CH0106027193
Commodities CH Pays cash
Yearly fee (TER)?0.23%
Fund size?€5bn

Invesco Bloomberg Commodity UCITS ETF

CMOD · IE00BD6FTQ80
Commodities IE Pays cash
Yearly fee (TER)?0.19%
1-yr return+37.2%
Fund size?€3.7bn
See all Commodity ETFs in the screener →

Good to know

Is a commodity ETF the same as a normal ETF?

Not quite. In Europe most single-commodity products are ETCs — debt securities backed by the metal or collateral — rather than funds holding company shares. They trade like ETFs, but the legal wrapper is different, which is why you'll see "ETC" in the name.

Do commodity ETFs pay dividends?

Generally no. A bar of gold or a barrel of oil produces no income, so these products pay no dividends or interest. Any return comes only from the change in the underlying price.

Why do people talk so much about gold here?

Gold is the most widely held commodity product and is often bought as a diversifier because its price can behave differently from stocks. It still swings in value and earns no income — it's one option in the category, not a guaranteed safe harbor.

Related topics

Gold ETFs Multi-asset ETFs Bond ETFs Real-estate (REIT) ETFs

Finance Hamster provides educational information about ETFs and investing. It is not investment, tax, or legal advice, and not a recommendation to buy or sell any security. Markets carry risk; do your own research or consult a licensed adviser.