Gold Or Oil? This ETF Decides For You When Inflation Strikes

A sharp rise in energy prices has validated commodity hedges: the PCE energy index jumped 11.56% month‑over‑month in March 2026 and WTI crude moved from about $60 to above $100, pushing headline inflation to 3.5% YoY. The article highlights the Harbor Commodity All‑Weather Strategy ETF (HGER) as a rules‑based “thermostat” that dynamically tilts between gold and energy, noting HGER has returned ~93% since early 2022, ~32% year‑to‑date and ~39% over the past year, outpacing the S&P 500 over the same windows. It compares that performance to SPDR Gold Shares (GLD.US), which is up ~146% since January 2022 and ~39% over the past year. The piece argues HGER is useful as a 5–15% portfolio sleeve for investors worried about sticky inflation but warns of tax complexity, cash drag during disinflationary stretches, and model risk if its rulebook misreads regimes.