APRW vs. GSG
APRW (AllianzIM U.S. Large Cap Buffer20 Apr ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - APRW is a Options Trading fund actively managed by Allianz, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. APRW is actively managed, while GSG is passively managed. Over the past 5 years, APRW returned 7.13%/yr vs 14.20%/yr for GSG. Their 0.13 correlation means their historical movements had little consistent relationship. APRW charges 0.74%/yr vs 0.75%/yr for GSG.
Performance
APRW vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, APRW achieves a 7.74% return, which is significantly lower than GSG's 32.52% return.
APRW
- 1D
- 0.04%
- 1M
- 1.04%
- 6M
- 7.31%
- YTD
- 7.74%
- 1Y
- 11.65%
- 3Y*
- 9.98%
- 5Y*
- 7.13%
- 10Y*
- —
- ALL TIME*
- 7.45%
GSG
- 1D
- 0.36%
- 1M
- 5.78%
- 6M
- 21.95%
- YTD
- 32.52%
- 1Y
- 37.47%
- 3Y*
- 12.51%
- 5Y*
- 14.20%
- 10Y*
- 8.03%
- ALL TIME*
- -2.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $165.89K | $784.74K | $607.67K | |
| $18.96M | $16.42M | $22.87M |
APRW vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF | 7.74% | 6.18% | 11.25% | 12.38% | -2.90% | 5.58% | 6.28% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.52% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | 25.56% |
Correlation
The correlation between APRW and GSG is -0.20, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.20 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2020 | 0.13 |
The correlation between APRW and GSG shifts across timeframes, from -0.20 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
APRW vs. GSG — Risk / Return Rank
APRW
GSG
APRW vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) 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.
| APRW | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.69 | ||
| Sortino ratioReturn per unit of downside risk | +5.15 | ||
| Omega ratioGain probability vs. loss probability | 2.03 | 1.27 | +0.76 |
| Calmar ratioReturn relative to maximum drawdown | 13.10 | 2.00 | +11.09 |
| Martin ratioReturn relative to average drawdown | 64.48 | 6.32 | +58.15 |
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Drawdowns
APRW vs. GSG - Drawdown Comparison
The maximum APRW drawdown since its inception was -9.61%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for APRW and GSG.
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Drawdown Indicators
| APRW | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.61% | -89.62% | +80.01% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -18.81% | +17.92% |
Max Drawdown (3Y)Largest decline over 3 years | -9.61% | -18.81% | +9.20% |
Max Drawdown (5Y)Largest decline over 5 years | -9.61% | -29.12% | +19.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | 0.00% | -59.99% | +59.99% |
Average DrawdownAverage peak-to-trough decline | -1.09% | -63.67% | +62.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 5.94% | -5.76% |
Volatility
APRW vs. GSG - Volatility Comparison
The current volatility for AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) is 0.98%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 8.99%. This indicates that APRW experiences smaller price fluctuations and is considered to be less risky 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
| APRW | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 8.99% | -8.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.31% | 21.89% | -19.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.77% | 24.44% | -21.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.73% | 22.90% | -16.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.35% | 22.08% | -15.73% |
APRW vs. GSG - Expense Ratio Comparison
APRW has a 0.74% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
APRW vs. GSG - Dividend Comparison
Neither APRW nor GSG has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.67% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
APRW and GSG have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (8.99%) compared to APRW (0.98%). In terms of maximum drawdown, APRW dropped -9.61% vs GSG's -89.62%.
On 5-year performance, GSG leads with 14.20% vs 7.13% for APRW. On fees, APRW is cheaper at 0.74% per year. On volatility, APRW has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GSG has performed better with a 14.20% return vs 7.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
APRW is cheaper with a 0.74% expense ratio, compared with 0.75% for GSG.
APRW and GSG have nearly identical dividend yields, around 0.00%.
APRW is categorized as Options Trading, while GSG is Commodities. They also come from different issuers: Allianz and iShares. Their fees differ too: 0.74% for APRW and 0.75% for GSG.
APRW currently has the higher Sharpe Ratio (4.23 vs 1.54), 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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