Standard & Poor’s announced Friday, September 10 that it is launching an equal-weighted version of its popular S&P GSCI commodities index.

Called the S&P GSCI Equal Weight Select Index, the new index comprises 14 commodities included in the world production weighted S&P GSCI, each equally weighted on a quarterly basis.

Designed in collaboration with Goldman Sachs, the GSCI indexes are meant to provide investors with a reliable and publicly available benchmark for investment performance in the commodity markets comparable to the S&P 500 or FT equity indices.

The S&P GSCI Equal Weight Select Index divides the S&P GSCI into six commodity groups from which the largest and most liquid commodities are selected to help ensure diversification and reduce concentration risk. The six groups include: agriculture–grains and oilseeds; agriculture–softs; energy; industrial metals; livestock; and precious metals.

“The S&P GSCI Equal Weight Select Index is a natural extension of our widely followed S&P GSCI Index, providing a different dynamic by measuring the performance of only the largest and most liquid commodities within the S&P GSCI equally,” said Michael McGlone, director of commodity indexing at S&P Indices, in a statement. “The development of the index was based on investor and client demand for a version of the S&P GSCI that provided more equal weighting among the main commodities.”

For complete eligibility criteria, as well as index calculation guidelines, visit www.spgsci.standardandpoors.com.