- ISIN
- US46428R1077
- CUSIP
- 46428R107
- Issuer
- iShares
- Inception Date
- Jul 10, 2006
- Category
- Commodities
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P GSCI Total Return Index
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Commodity
- Assets Under Management
- $987M
Share Price Chart
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Performance
GSG Performance Chart
iShares S&P GSCI Commodity-Indexed Trust (GSG) is up 28.6% since the beginning of the year. GSG is currently trading at $30 per share. Investors who bought $1,000 worth of GSG shares 5 years ago would now be looking at an investment worth $1,924.
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Returns By Period
iShares S&P GSCI Commodity-Indexed Trust (GSG) has returned 28.62% so far this year and 29.01% over the past 12 months. Over the last ten years, GSG has returned 6.60% per year, falling short of the S&P 500 Index benchmark, which averaged 13.75% annually.
iShares S&P GSCI Commodity-Indexed Trust
- 1D
- -1.56%
- 1M
- -13.25%
- YTD
- 28.62%
- 6M
- 31.94%
- 1Y
- 29.01%
- 3Y*
- 13.98%
- 5Y*
- 13.98%
- 10Y*
- 6.60%
Benchmark (S&P 500 Index)
- 1D
- -0.57%
- 1M
- 1.39%
- YTD
- 9.73%
- 6M
- 10.46%
- 1Y
- 24.50%
- 3Y*
- 19.43%
- 5Y*
- 12.21%
- 10Y*
- 13.75%
GSG Monthly Returns History
Based on dividend-adjusted daily data since Jul 21, 2006, GSG's average daily return is 0.00%, while the average monthly return is +0.02%. At this rate, an investment would double in approximately 288.8 years.
Historically, 53% of months were positive and 47% were negative. The best month was Mar 2026 with a return of +24.2%, while the worst month was Mar 2020 at -30.4%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 8 months.
On a daily basis, GSG closed higher 51% of trading days. The best single day was Nov 4, 2008 with a return of +7.6%, while the worst single day was Mar 9, 2020 at -12.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 10.49% | 1.88% | 24.23% | 6.64% | -7.53% | -6.73% | 28.62% | ||||||
| 2025 | 3.45% | -1.47% | 2.61% | -8.87% | 2.02% | 4.11% | 3.45% | -0.13% | 0.88% | 1.04% | 0.26% | -0.90% | 5.93% |
| 2024 | 4.39% | 0.86% | 4.45% | 0.95% | -1.44% | 0.91% | -2.89% | -2.19% | -0.19% | 1.43% | -0.75% | 2.98% | 8.52% |
| 2023 | -0.09% | -4.24% | -0.94% | -1.04% | -6.23% | 4.39% | 10.83% | 0.46% | 3.73% | -3.91% | -4.39% | -3.00% | -5.51% |
| 2022 | 11.75% | 8.84% | 8.84% | 4.55% | 5.74% | -7.75% | -0.74% | -2.97% | -7.51% | 6.17% | -1.19% | -1.67% | 24.08% |
| 2021 | 4.70% | 10.30% | -1.90% | 8.09% | 2.38% | 4.08% | 1.31% | -2.39% | 5.97% | 5.87% | -10.59% | 7.21% | 38.77% |
Benchmark Metrics
iShares S&P GSCI Commodity-Indexed Trust has an annualized alpha of -4.69%, beta of 0.46, and R2 of 0.15 versus S&P 500 Index. Calculated based on daily prices since July 21, 2006.
- This ETF participated in 83.84% of S&P 500 Index downside but only 37.32% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.46 may look defensive, but with R2 of 0.15 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.15 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -4.69%
- Beta
- 0.46
- R²
- 0.15
- Upside Capture
- 37.32%
- Downside Capture
- 83.84%
Expense Ratio
GSG has an expense ratio of 0.75%, placing it in the medium range.
Return for Risk
Risk / Return Rank
GSG ranks 39 for risk / return — below 39% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares S&P GSCI Commodity-Indexed Trust (GSG) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GSG | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.36 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 2.71 | -0.72 |
| Martin ratioReturn relative to average drawdown | 7.04 | 12.15 | -5.12 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares S&P GSCI Commodity-Indexed Trust. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares S&P GSCI Commodity-Indexed Trust was 89.62%, occurring on Apr 28, 2020. The portfolio has not yet recovered.
The current iShares S&P GSCI Commodity-Indexed Trust drawdown is 61.17%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -89.62%Apr 2020 | 11y 10mo | — | 17y 11moJul 2008 - now |
2007 bear market2007 | -30.43%Jan 2007 | 5mo 18d | 9mo 18d | 1y 3moAug 2006 - Nov 2007 |
Financial crisis2007–2009 | -9.48%Mar 2008 | 5d | 27d | 1mo 2dMar 2008 - Apr 2008 |
Financial crisis2007–2009 | -8.78%Jan 2008 | 19d | 22d | 1mo 11dJan 2008 - Feb 2008 |
Financial crisis2007–2009 | -7.74%Dec 2007 | 13d | 22d | 1mo 5dNov 2007 - Dec 2007 |
Drawdown Indicators
| GSG | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.62% | -56.78% | -32.84% |
Max Drawdown (1Y)Largest decline over 1 year | -14.70% | -9.10% | -5.60% |
Max Drawdown (3Y)Largest decline over 3 years | -14.94% | -18.90% | +3.96% |
Max Drawdown (5Y)Largest decline over 5 years | -29.12% | -25.43% | -3.69% |
Max Drawdown (10Y)Largest decline over 10 years | -57.64% | -33.92% | -23.72% |
Current DrawdownCurrent decline from peak | -61.17% | -1.29% | -59.88% |
Average DrawdownAverage peak-to-trough decline | -63.69% | -10.72% | -52.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.13% | 2.02% | +2.11% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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