Despite being the second worst performer of 2020 with the clean energy transition on the horizon, coal was 2021’s best annual return commodity. The top three performers for 2021 were energy fuels, with coal providing the single best annual return of any commodity over the past 10 years at 160.6%. High electricity demand saw coal return in style, especially in China which accounts for one-third of global coal consumption.
According to U.S. Global Investors, coal was also the least volatile commodity of 2021, meaning investors had a smooth ride as the fossil fuel surged in price.