Oil Leads & Gold Lags: Commodities deliver one of the strongest years in a decade

[Planning and strategy financial portfolio and assets manager analyzing . Financial and banking]
Maximusnd

Commodities are delivering one of their strongest starts in years. Through the first 143 trading days of 2026, the Bloomberg Commodity Index has posted a year-to-date total return of +23.05%, placing the current year just behind 2021’s +23.25% and ahead of every other year in the prior half-decade.

The 2022 path finished at +21.92%, while more recent years lagged well behind: 2025 at +7.18%, 2024 near flat at +0.32%, 2023 down -2.16%, and 2020 deep in the red at –15.02%. The 2026 line has remained among the leaders for most of the period, reflecting broad strength across the complex rather than a narrow rally in any single sector.

Individual components show clear divergence. Crude oil (CL1:COM [https://seekingalpha.com/symbol/CL1:COM]) has surged +47.6% year-to-date, providing a major lift to the index. Gold (XAUUSD:CUR [https://seekingalpha.com/symbol/XAUUSD:CUR]), by contrast, is lower by -6.2%. The net result is a commodity complex that continues to outperform most recent historical benchmarks, underscoring 2026 as a standout year for investors seeking exposure to real assets.

OIL ETFS: (USO [https://seekingalpha.com/symbol/USO]), (UCO [https://seekingalpha.com/symbol/UCO]), (DBO [https://seekingalpha.com/symbol/DBO]), (OILK [https://seekingalpha.com/symbol/OILK]), and (USL [https://seekingalpha.com/symbol/USL]).

GOLD ETFS: (GLD [https://seekingalpha.com/symbol/GLD]), (IAU [https://seekingalpha.com/symbol/IAU]), (SGOL [https://seekingalpha.com/symbol/SGOL]), (OUNZ [https://seekingalpha.com/symbol/OUNZ]), (BAR [https://seekingalpha.com/symbol/BAR]), (GDX [https://seekingalpha.com/symbol/GDX]), (GDXJ [https://seekingalpha.com/symbol/GDXJ]), (AUAU [https://seekingalpha.com/symbol/AUAU]), (SGDM [https://seekingalpha.com/symbol/SGDM]), (SGDJ [https://seekingalpha.com/symbol/SGDJ]), (NUGT [https://seekingalpha.com/symbol/NUGT]), (RING [https://seekingalpha.com/symbol/RING]), and (DUST [https://seekingalpha.com/symbol/DUST]).

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