Commodity Returns Calculator
See how commodity investments perform over time. This calculator separates pure price return from the drag of rolling costs — the hidden expense of commodity ETF and futures investing.
Price Return vs. Total Return
Commodity ETFs and futures incur rolling costs when expiring contracts are replaced with new ones. In contango markets (futures prices above spot), rolling costs reduce returns. In backwardation (futures below spot), rolling can enhance returns. This calculator accounts for annual rolling cost drag so you can compare commodity returns realistically against stocks or bonds.
Example: Gold returned ~174% from 2015–2025 (price), but after ~0.4% annual rolling costs, the total return drops to ~170%. For commodities with higher roll costs like oil (0.6%/yr), the drag is more significant over long periods.
Commodity Returns Calculator — Price Return vs Total Return with Costs
Calculate total returns on commodity investments including the impact of rolling costs. Compare price appreciation vs. total return for gold, silver, oil, copper, and more.
Growth of $106000 Investment
Blue line = price return. Dashed line = return after 0.4% annual rolling cost drag.