At a glance
GCC charges 0.57% a year, below the 0.65% average of the 4 funds most like it (the 2nd cheapest of 5). It has $303.2M in assets, the 5th largest of that group; it paid 39.38% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +29.8% with distributions reinvested, 4th of those 5 funds; over three years it returned +18.5% a year. At its worst it fell 22.3% in the 2020 crash (S&P 500: 33.7%) and 25.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 36 months after the lows.
The short version
WisdomTree Enhanced Commodity Strategy Fund (GCC) is an actively managed ETF. It holds futures contracts on energy, farm goods, industrial metals and precious metals, backed mostly by short-term Treasury bills, and it can put up to 10% into bitcoin funds and futures. The manager chooses which futures contracts to move into, aiming for extra return. Its 0.57% fee is below the 0.65% average of similar funds but above BCI's 0.26%.
Price history
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GCC +29.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| GCC official prospectus, to Dec 31, 2024 | — | +15.26% | — | — | — | +9.77% |
| Bloomberg Commodity Index Total Return (Reflects no deduction for fees, expenses or taxes) index, same period | — | +5.38% | — | — | — | +9.56% |
| S&P GSCI Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +9.25% | — | — | — | +16.55% |
| GCC price data to Oct 27, 2026 | +24.9% | +29.8% | +18.5% | +12.1% | +7.5% | +1.5% |
- Over the year to Oct 27, 2026, GCC returned +29.8%, 4th of 5 among similar funds.
- Its 5-year annualized return was +12.1% and its 10-year +7.5%.
- In the 2020 COVID crash it fell 22.3% and regained its old high 8 months after the low.
- Its worst full calendar year was 2015 (-19.0%); its best was 2010 (+25.2%).
- The deepest fall in its price history was 63.2% (Jul 2, 2008 to Apr 1, 2020), recovered by Mar 11, 2026.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +24.9% | — |
| 2025 | +20.1% | — |
| 2024 | +15.2% | +15.26% |
| 2023 | -3.7% | -3.63% |
| 2022 | +7.6% | +7.55% |
| 2021 | +19.9% | +20.31% |
| 2020 | +1.4% | — |
| 2019 | +7.1% | — |
| 2018 | -8.7% | — |
| 2017 | -0.6% | — |
| 2016 | +4.4% | — |
| 2015 | -19.0% | — |
| 2014 | -11.1% | — |
| 2013 | -10.9% | — |
| 2012 | -3.6% | — |
| 2011 | -9.2% | — |
| 2010 | +25.2% | — |
| 2009 | +20.1% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 18.9% over that stretch · deepest drop along the way 22.3%, back to its old high 8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 6.2% over that stretch · deepest drop along the way 25.3%, back to its old high 36 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $6.4500 | |
| 2025 | $1.4100 | +113.6% |
| 2024 | $0.6600 | +4.8% |
| 2023 | $0.6300 | -84.6% |
| 2022 | $4.1000 | +102.0% |
| 2021 | $2.0301 |
What's inside
As of Aug 31, 2026, the fund held 3 securities; the ten largest made up 85.63% of assets, and 5.49% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 76.09% | |
| WISDOMTREE BITCOIN FUND SHS BEN INT | 5.15% | |
| WisdomTree Floating Rate Treasury Fund | 4.40% |
By country
United States 85.63%By issuer
US Treasury 76.09%Other registered funds 9.54%The bonds mature in 0.4 years on average (weighted by size), with an average coupon of 0%.
Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $3.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -9.09%, +7.08%, +8.93%.
How it works
GCC is actively managed and tracks no index. Its adviser, WisdomTree Asset Management, seeks broad exposure to energy, agriculture, industrial metals and precious metals through futures rather than physical goods. A futures contract is an agreement to buy a set amount of a commodity at a future date and price. Eligible commodities range from Brent crude and diesel to cattle, wheat, copper and gold. Weights favor more heavily traded futures, adjusted by the adviser's market views, and are generally set annually.
Futures expire, so the fund regularly replaces expiring contracts with later ones, a step called rolling. Its "enhanced roll," generally monthly, picks the contract with the highest implied yield. The aim is to gain more when later contracts are cheaper than near-month ones (backwardation) and lose less when they cost more (contango).
Futures need only a small deposit, so most assets sit in Treasurys as collateral. As of August 31, 2026, a Treasury bill maturing in January 2027 was about 76% of assets and the WisdomTree Floating Rate Treasury Fund (USFR) about 4%. Up to 10% may go to CME bitcoin futures and exchange-traded products holding bitcoin; the WisdomTree Bitcoin Fund (BTCW) was about 5%. Some exposure runs through its wholly owned Cayman Islands subsidiary, capped at 25% of assets at quarter-ends, to meet US fund tax rules.
What it really costs
- GCC charges 0.57% a year, versus an average of 0.65% for the similar funds below (2nd of 5, cheapest first).
- Of that, 0.55% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.01% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $58 in the first year and $714 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GCC | $58 | $183 | $318 | $714 |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
GCC has often moved apart from stocks: its one-year beta was 0.28 as of October 27, 2026, and it rose during the 2022 bear market, though its own drops have been steep and long.
GCC could add an asset that often zigs when stocks zag. During the 2022 bear market it gained 6.2% while stocks fell. Even so, it dropped 25.3% from its March 2022 peak and took 36 months to recover. In the 2020 COVID crash it fell 22.3% and recovered in 8 months. Its worst calendar year was 2015, at -19%. Its deepest drop, 63.2% from July 2008 to April 2020, was not fully made up until March 2026. Anyone who had to sell during that stretch would have locked in large losses.
The trailing yield was 39.38% as of October 27, 2026, paid twice a year. Payouts like this can swing widely and may not repeat. Costs are 0.57% a year, or $714 over ten years in the SEC's standard $10,000 example. Past results don't predict the future, and a plan should weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a small slice of broad commodity futures that has often moved differently from stocks, with a one-year beta of 0.28.
- Those who prefer an active manager choosing futures contracts and roll timing over a fixed index, at 0.57%, below the 0.65% peer average.
- Holders comfortable with a small bitcoin sleeve (5.1% in BTCW as of August 31, 2026) inside a commodity fund.
Look elsewhere if
- Cost-focused investors: BCI, the closest match, charges 0.26% against GCC's 0.57%.
- Retirees who need steady income: the 39.38% trailing yield, paid twice a year, can swing sharply and may not repeat.
- Anyone who can't sit through long slumps: GCC's 63.2% drop that began in 2008 took until March 2026 to recover.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
| Fund | Avg. maturity | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| GCC this fund | 0.4 yrs | 0.57% | $303.2M | +29.8% | +18.5% |
| BCI abrdn Bloomberg All Commodity Strategy K-1 … | 0.1 yrs | 0.26% | $2.28B | +37.6% | +14.9% |
| HGER Harbor Commodity All-Weather Strategy ETF | 0.2 yrs | 0.68% | $3.67B | +45.6% | +22.4% |
| FTGC First Trust Global Tactical Commodity Strat… | 0.1 yrs | 1.02% | $2.70B | +37.4% | +16.9% |
| CMDT PIMCO Commodity Strategy Active Exchange-Tr… | 8.9 yrs | 0.65% | $750.6M | +28.2% | +13.6% |
Questions investors ask
Is GCC a good inflation hedge?
It can help, but there's no guarantee. Commodities often rise when prices across the economy climb, and GCC returned 20.31% in 2021 and 7.55% in 2022, according to its prospectus. But it also fell 22.3% in the 2020 COVID crash and lost 19% in 2015. Its deepest drop, 63.2% from July 2008 to April 2020, did not fully recover until March 2026. Its returns depend on commodity prices and futures markets, not on inflation itself.
What's the difference between GCC and BCI?
Cost and approach. The abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) charges 0.26%, compared with GCC's 0.57%. BCI is also much larger, with $2.28 billion in net assets as of June 30, 2026, against GCC's $303 million as of August 31, 2026. GCC is actively managed, uses an enhanced roll, and holds a small bitcoin sleeve. As of October 27, 2026, BCI returned 37.6% over one year to GCC's 29.8%, while GCC led over three years, 18.5% a year to 14.9%.
Why is GCC's dividend yield so high?
The trailing 12-month yield was 39.38% ($7.86 per share) as of October 27, 2026, paid twice a year. Commodity futures funds earn interest on their Treasury bill collateral, and they may also pay out trading gains. Both can change sharply from one year to the next. So a figure this high says more about one strong stretch than about steady income, and it may not repeat. GCC gained 29.8% over the year to October 27, 2026.
Does GCC own bitcoin?
Not directly. GCC can put up to 10% of its net assets into bitcoin funds listed on US exchanges and into cash-settled bitcoin futures traded on the CME. As of August 31, 2026, 5.1% of the fund was in the WisdomTree Bitcoin Fund (BTCW), which is sponsored by a WisdomTree affiliate. That brings bitcoin's large price swings into the fund. Bitcoin funds have traded only since January 2024, so their track record is short.
How has GCC done compared with commodity indexes?
In 2024 it beat the two benchmarks named in its prospectus. As of December 31, 2024, GCC returned 15.26% over one year. The Bloomberg Commodity Index Total Return returned 5.38%, and the S&P GSCI returned 9.25%. Index returns don't include fees. Over the full period since inception, though, the fund's 9.77% average annual return trailed the S&P GSCI's 16.55% and was close to the Bloomberg index's 9.56%. One good year doesn't show that the active approach will keep winning.