AEF vs. GSG
AEF (Aberdeen Emerging Markets Equity Income Fund, Inc.) is a stock, while GSG (iShares S&P GSCI Commodity-Indexed Trust) is Commodities fund tracking the S&P GSCI Total Return Index. Over the past 10 years, AEF returned 11.41%/yr vs 7.61%/yr for GSG. At a 0.27 correlation, their price movements are largely independent.
Performance
AEF vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, AEF achieves a 31.70% return, which is significantly lower than GSG's 33.95% return. Over the past 10 years, AEF has outperformed GSG with an annualized return of 11.41%, while GSG has yielded a comparatively lower 7.61% annualized return.
AEF
- 1D
- -2.23%
- 1M
- -9.16%
- 6M
- 23.25%
- YTD
- 31.70%
- 1Y
- 64.00%
- 3Y*
- 29.10%
- 5Y*
- 8.41%
- 10Y*
- 11.41%
GSG
- 1D
- -0.93%
- 1M
- 4.15%
- 6M
- 29.74%
- YTD
- 33.95%
- 1Y
- 37.41%
- 3Y*
- 15.32%
- 5Y*
- 14.20%
- 10Y*
- 7.61%
AEF vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AEF Aberdeen Emerging Markets Equity Income Fund, Inc. | 31.70% | 50.22% | 9.43% | 7.13% | -29.63% | 3.31% | 11.62% | 22.83% | -16.06% | 57.92% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 33.95% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between AEF and GSG is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jul 21, 2006 | 0.27 |
The correlation between AEF and GSG shifts across timeframes, from -0.10 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AEF vs. GSG — Risk / Return Rank
AEF
GSG
AEF vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aberdeen Emerging Markets Equity Income Fund, Inc. (AEF) and iShares S&P GSCI Commodity-Indexed Trust (GSG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| AEF | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.29 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 2.00 | +1.22 |
| Martin ratioReturn relative to average drawdown | 11.68 | 6.66 | +5.02 |
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Drawdowns
AEF vs. GSG - Drawdown Comparison
The maximum AEF drawdown since its inception was -63.87%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for AEF and GSG.
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Drawdown Indicators
| AEF | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.87% | -89.62% | +25.75% |
Max Drawdown (1Y)Largest decline over 1 year | -19.96% | -18.81% | -1.15% |
Max Drawdown (3Y)Largest decline over 3 years | -19.96% | -18.81% | -1.15% |
Max Drawdown (5Y)Largest decline over 5 years | -46.67% | -29.12% | -17.55% |
Max Drawdown (10Y)Largest decline over 10 years | -47.20% | -57.64% | +10.44% |
Current DrawdownCurrent decline from peak | -10.97% | -59.56% | +48.59% |
Average DrawdownAverage peak-to-trough decline | -23.96% | -63.68% | +39.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.50% | 5.63% | -0.13% |
Volatility
AEF vs. GSG - Volatility Comparison
Aberdeen Emerging Markets Equity Income Fund, Inc. (AEF) has a higher volatility of 10.57% compared to iShares S&P GSCI Commodity-Indexed Trust (GSG) at 7.17%. This indicates that AEF's price experiences larger fluctuations and is considered to be riskier than GSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AEF | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.57% | 7.17% | +3.40% |
Volatility (6M)Calculated over the trailing 6-month period | 25.49% | 21.54% | +3.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.16% | 23.48% | +4.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.31% | 22.80% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.02% | 22.00% | +0.02% |
Dividends
AEF vs. GSG - Dividend Comparison
AEF's dividend yield for the trailing twelve months is around 9.02%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AEF Aberdeen Emerging Markets Equity Income Fund, Inc. | 9.02% | 9.29% | 7.51% | 7.63% | 8.54% | 6.73% | 3.37% | 2.23% | 20.97% | 5.19% | 7.05% | 12.19% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AEF and GSG have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AEF has higher volatility (10.57%) compared to GSG (7.17%). In terms of maximum drawdown, AEF dropped -63.87% vs GSG's -89.62%.
AEF currently has the higher Sharpe Ratio (2.28 vs 1.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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