For instance, oil has been among the most popular plays. According to the U.S. Commodity Futures Trading Commission, net bets on higher oil prices rose 9% to 231,556 contracts for the week ended April 14.

Additionally, money managers are turning bullish on copper after the metal hit a 23 week low. The iPath Bloomberg Subindex Total Return ETN (NYSEArca: JJC) has dipped 4.0% year-to-date and fell 12.0% over the past year. [Dr. Copper Could get Heathy This Year]

Looking ahead, observers argue that a global recovery fueled by strong growth in the U.S. and a rebound in the Euerozone, along with a pause in the U.S. dollar’s ascent, could help commodities.

iShares GSCI Commodity-Indexed Trust

For more information on the commodities market, visit our commodity ETFs category.

Max Chen contributed to this article.