The Periodic Table of Commodity Returns

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
10.06% 19.19% 26.23% 11.35% -2.50% 103.67% 56.25% 18.59% 54.21% 47.89%
Au Pd Pb Pd Pd Pd Ag
8.15% 15.19% 7.19% 6.91% -9.63% 60.59% 32.39% 17.86% 34.46% 26.02% Legend
Pb Ni Zn Al Cu
Aluminum
Al
5.76% 12.16% 1.70% 3.91% -10.42% 59.35% 31.19% 6.91% 31.55% 25.86%
Zn Pd Zn Au Ni Pd Coal

2.78% 12.11% 0.17% 3.80% -10.72% 45.03% 30.49% -0.44% 21.48% 25.12% Cu
Copper
Zn Al Cu Pt Au Corn
-9.94% 9.87% -1.00% -1.72% -11.75% 20.96% 30.49% -1.58% 18.31% 24.82%
Crude Oil
Ag Pt Au Ag Pd Zn Au Au
-17.82% 8.98% -5.44% -2.24% -17.79% 17.37% 27.51% -8.53% 15.21% 19.73% Au Gold
Ag Pb Al Cu Ni Ag Ag Zn
Performance

Pb Lead
-18.27% 8.00% -6.72% -5.52% -19.11% 14.86% 24.27% -14.49% 11.03% 18.66%
Natural Gas
Pd Cu Ag Pb Pt Ni
-18.95% 7.52% -11.03% -11.79% -20.31% 13.58% 13.09% -16.54% 15.99% Nickel
3.40% Ni
Al Pd Pt Pt Al Au Ni
Pd Palladium
-20.86% 7.14% -14.02% -14.00% -26.07% 13.49% 12.47% -17.43% 3.36% 14.63%
Pt Platinum
Pt Au Al Cu Pt Ni Al Cu
-21.35% 4.18% -18.63% -15.51% -26.10% 11.27% 6.42% -17.46% 10.92% Ag Silver
-4.38%
Cu Cu Ni Cu Pb Ag Cu Al Pt Wheat
-21.55% 2.33% -22.20% -16.00% -26.50% 8.56% 4.66% -19.23% -4.66% 10.80% Zinc
Pb Al Pb Zn Au Pb Pb Al Zn

Source: Bloomberg and

-24.22% -7.09% -28.04% -19.34% -29.43% 1.16% 2.99% -22.16% -9.49% 3.25% U.S. Global Research
Ni Au Ag Pd Pt Pt Zn Pb www.usfunds.com
-25.24% -9.22% -35.84% -31.21% -30.47% -1.88% -0.36% -24.54% -18.02% -1.29%
Zn Ni Ag Zn
-32.15% -16.78% -39.56% -45.58% -41.75% -13.19% -20.70% -24.84% -25.54% -20.54%
Ni

Natural resources are the building blocks of the world, essential to progress and prosperity. These commodities, like all investments, can have wide price fluctuations over time. This table shows
the ebb and flow of commodity prices over the past decade and illustrates the principle of mean reversion — the concept that returns eventually move back towards their mean or average. The
price movement of commodities is historically both seasonal and cyclical. That’s why when investing in natural resources, we believe it is important for your portfolio to hold a diversified basket of
commodities and to be actively managed by professionals who understand these specialized assets and the global trends impacting them. As with all investments, diversification does not protect
an investor from market risks and does not assure a profit, and of course, past performance does not guarantee future results. Returns are based on historical spot prices or futures prices.