Available 2024 performance data do not support the idea that commodity‑related businesses had a “killer 2024” or a sector boom relative to the broader equity market.

• Broader market was very strong: The S&P 500 returned about 23–25% in 2024. S&P Dow Jones reports a 23.31% gain for the S&P 500 price index for 2024, and SPY (the main S&P 500 ETF) shows a 24.89% total return for the year. (spglobal.com)
• Commodity equity sectors lagged badly: RBC’s sector breakdown for 2024 shows:
  • S&P 500 overall (total return): +25.0%
  • Energy sector: +5.72%
  • Materials sector: ‑0.04%
    So the two main commodity‑producer sectors delivered low‑single‑digit or flat returns and dramatically underperformed the broad market. (rbcwealthmanagement.com)
• Global mining/commodity equities also underperformed: The FTSE Global All Cap Precious Metals & Mining Index returned +8.25% in 2024, versus +16.83% for the broad FTSE Global All Cap Index—again, clear underperformance by commodity producers/traders versus global equities. (lseg.com)
• Commodity indices had only modest gains versus equities:
  • Bloomberg Commodity Index (BCOM) returned +5.38% in 2024. (bloomberg.com)
  • The S&P GSCI Total Return benchmark for broad commodities returned about +9.25% in 2024; the GSG ETF tracking it gained 8.52%. (blackrock.com)
  • A composite of 29 major commodities was up 12.5% in 2024, with GSG up 8.52%, which outperformed energy stocks but still lagged the broader commodity composite and was far behind equity benchmarks. (seekingalpha.com)
• Some individual commodities boomed, but this didn’t translate into a broad equity boom: Specific contracts like cocoa, coffee, and gold saw very large price gains (e.g., cocoa +341%, coffee +87%, gold +27% in 2024), but these were pockets of strength within a mixed commodity complex (grains down ~20%, energy and industrial metals slightly lower overall), not a generalized boom across commodity businesses. (indexologyblog.com)

Taken together, 2024 featured: (1) a very strong broad equity market, (2) commodity‑producer and trader equities that significantly underperformed that market, and (3) commodity indices that posted modest single‑digit to low‑double‑digit gains, far from a dominant, market‑leading “killer” year. That is the opposite of “sector performance notably strong relative to the broader market,” so this prediction did not come true.