The S&P GSCI® Enhanced Index measures the total return available to investors holding a modified version of the S&P GSCI® Index to which certain dynamic, timing, and seasonal rolling rules are applied. The index includes the same futures contracts as the S&P GSCI® although contract months vary and the return values differ.

Most of the S&P GSCI® futures contracts in the S&P GSCI® Enhanced Index follow their normal schedule with the following exceptions:

• WTI Crude Oil rolls from the first contract month to the sixth contract month if the contango between the first and second contact month is more than 0.50%.
• Brent Crude Oil rolls from the second to the seventh contract month if the contango between the second and the third contract month is more than 0.50%.
• Heating Oil is rolled annually to the December contract (during the November roll).
• Natural Gas is rolled annually to the January contract (during the December roll).
• Chicago Wheat is rolled semiannually to the September and December contracts (September during the November roll, and December during the August roll).
• Corn is rolled annually to the July contract (during the May roll).
• Lean Hogs are rolled biannually to the April and August contracts (April during the July roll, and August during the March roll).
• Live Cattle is rolled biannually to the April and October contracts (April during the September roll and October during the March roll).

Index Governance and Policy
The Index Committee, which is comprised of three full-time professional members of Standard & Poor’s staff and two members of Goldman Sachs Group, oversees the daily management and operations of the S&P GSCI®. Standard & Poor’s and the Index Committee are committed to maintaining the S&P GSCI® as a liquid, tradable index that serves as a principal benchmark for commodity investing. On at least a yearly basis, S&P also meets with an Index Advisory Panel to consult on matters relating to the composition and maintenance of the index.

Client Services

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