BBCA vs. GSG
BBCA (JPMorgan BetaBuilders Canada ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - BBCA is a Canada Equities fund tracking the Morningstar Canada Target Market Exposure Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 5 years, BBCA returned 11.39%/yr vs 15.74%/yr for GSG. At a 0.38 correlation, their price movements are largely independent. BBCA charges 0.19%/yr vs 0.75%/yr for GSG.
Performance
BBCA vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, BBCA achieves a 8.72% return, which is significantly lower than GSG's 42.58% return.
BBCA
- 1D
- -1.27%
- 1M
- 1.57%
- YTD
- 8.72%
- 6M
- 12.76%
- 1Y
- 29.69%
- 3Y*
- 21.63%
- 5Y*
- 11.39%
- 10Y*
- —
GSG
- 1D
- 0.77%
- 1M
- -4.83%
- YTD
- 42.58%
- 6M
- 41.06%
- 1Y
- 51.52%
- 3Y*
- 19.31%
- 5Y*
- 15.74%
- 10Y*
- 7.69%
BBCA vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BBCA JPMorgan BetaBuilders Canada ETF | 8.72% | 34.40% | 12.79% | 14.92% | -12.53% | 28.16% | 6.20% | 28.93% | -15.39% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.58% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -17.58% |
Correlation
The correlation between BBCA and GSG is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2018 | 0.38 |
The correlation between BBCA and GSG shifts across timeframes, from -0.08 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BBCA vs. GSG — Risk / Return Rank
BBCA
GSG
BBCA vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Canada ETF (BBCA) 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.
| BBCA | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.40 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.54 | 5.47 | -1.94 |
| Martin ratioReturn relative to average drawdown | 14.56 | 14.39 | +0.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BBCA | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.21 | 2.26 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.70 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | -0.09 | +0.69 |
Drawdowns
BBCA vs. GSG - Drawdown Comparison
The maximum BBCA drawdown since its inception was -42.81%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for BBCA and GSG.
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Drawdown Indicators
| BBCA | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.81% | -89.62% | +46.81% |
Max Drawdown (1Y)Largest decline over 1 year | -8.43% | -9.46% | +1.03% |
Max Drawdown (3Y)Largest decline over 3 years | -12.77% | -14.94% | +2.17% |
Max Drawdown (5Y)Largest decline over 5 years | -24.43% | -29.12% | +4.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -1.27% | -56.95% | +55.68% |
Average DrawdownAverage peak-to-trough decline | -5.87% | -63.71% | +57.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 3.59% | -1.55% |
Volatility
BBCA vs. GSG - Volatility Comparison
The current volatility for JPMorgan BetaBuilders Canada ETF (BBCA) is 3.38%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that BBCA 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
| BBCA | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.38% | 7.65% | -4.27% |
Volatility (6M)Calculated over the trailing 6-month period | 10.85% | 20.42% | -9.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.49% | 22.95% | -9.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.69% | 22.61% | -5.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.14% | 22.03% | -1.89% |
BBCA vs. GSG - Expense Ratio Comparison
BBCA has a 0.19% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
BBCA vs. GSG - Dividend Comparison
BBCA's dividend yield for the trailing twelve months is around 1.74%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBCA JPMorgan BetaBuilders Canada ETF | 1.74% | 1.83% | 2.36% | 2.51% | 2.65% | 2.17% | 2.41% | 2.32% | 1.21% |
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% |
Frequently Asked Questions
BBCA and GSG have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (7.65%) compared to BBCA (3.38%). In terms of maximum drawdown, BBCA dropped -42.81% vs GSG's -89.62%.
On 5-year performance, GSG leads with 15.74% vs 11.39% for BBCA. On fees, BBCA is cheaper at 0.19% per year. On volatility, BBCA has been the lower-risk option at 3.38%. 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 15.74% return vs 11.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBCA is cheaper with a 0.19% expense ratio, compared with 0.75% for GSG.
BBCA has the higher dividend yield at 1.74%, compared with 0.00% for GSG.
BBCA is categorized as Canada Equities, while GSG is Commodities. BBCA tracks Morningstar Canada Target Market Exposure Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.19% for BBCA and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (2.26 vs 2.21), 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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