BHP vs. GSG
BHP (BHP Group Limited) 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, BHP returned 21.28%/yr vs 6.32%/yr for GSG. At a 0.42 correlation, their price movements are largely independent.
Performance
BHP vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, BHP achieves a 36.34% return, which is significantly higher than GSG's 22.42% return. Over the past 10 years, BHP has outperformed GSG with an annualized return of 21.28%, while GSG has yielded a comparatively lower 6.32% annualized return.
BHP
- 1D
- -1.86%
- 1M
- -4.59%
- YTD
- 36.34%
- 6M
- 35.22%
- 1Y
- 77.90%
- 3Y*
- 16.19%
- 5Y*
- 14.35%
- 10Y*
- 21.28%
GSG
- 1D
- -2.49%
- 1M
- -15.10%
- YTD
- 22.42%
- 6M
- 21.05%
- 1Y
- 27.68%
- 3Y*
- 13.07%
- 5Y*
- 12.18%
- 10Y*
- 6.32%
BHP vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BHP BHP Group Limited | 36.34% | 28.91% | -24.64% | 16.50% | 44.34% | 0.91% | 25.37% | 24.50% | 10.55% | 33.87% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 22.42% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between BHP and GSG is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jul 21, 2006 | 0.42 |
The correlation between BHP and GSG shifts across timeframes, from -0.01 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BHP vs. GSG — Risk / Return Rank
BHP
GSG
BHP vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BHP Group Limited (BHP) 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.
| BHP | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.23 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.96 | 1.48 | +2.48 |
| Martin ratioReturn relative to average drawdown | 14.35 | 6.67 | +7.68 |
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Drawdowns
BHP vs. GSG - Drawdown Comparison
The maximum BHP drawdown since its inception was -76.22%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for BHP and GSG.
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Drawdown Indicators
| BHP | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.22% | -89.62% | +13.40% |
Max Drawdown (1Y)Largest decline over 1 year | -19.80% | -18.81% | -0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -37.21% | -18.81% | -18.40% |
Max Drawdown (5Y)Largest decline over 5 years | -37.21% | -29.12% | -8.09% |
Max Drawdown (10Y)Largest decline over 10 years | -44.29% | -57.64% | +13.35% |
Current DrawdownCurrent decline from peak | -13.34% | -63.04% | +49.70% |
Average DrawdownAverage peak-to-trough decline | -21.27% | -63.69% | +42.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.45% | 4.16% | +1.29% |
Volatility
BHP vs. GSG - Volatility Comparison
BHP Group Limited (BHP) has a higher volatility of 13.56% compared to iShares S&P GSCI Commodity-Indexed Trust (GSG) at 5.75%. This indicates that BHP'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
| BHP | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.56% | 5.75% | +7.81% |
Volatility (6M)Calculated over the trailing 6-month period | 27.46% | 20.98% | +6.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.65% | 22.98% | +9.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.46% | 22.70% | +9.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.26% | 22.02% | +10.24% |
Dividends
BHP vs. GSG - Dividend Comparison
BHP's dividend yield for the trailing twelve months is around 3.30%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BHP BHP Group Limited | 3.30% | 3.64% | 5.98% | 4.98% | 22.44% | 9.98% | 3.67% | 8.59% | 4.89% | 3.61% | 1.68% | 9.38% |
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
BHP and GSG have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BHP has higher volatility (13.56%) compared to GSG (5.75%). In terms of maximum drawdown, BHP dropped -76.22% vs GSG's -89.62%.
BHP currently has the higher Sharpe Ratio (2.40 vs 1.22), 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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