BIZD vs. GSG
BIZD (VanEck BDC Income ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, BIZD returned 7.38%/yr vs 8.24%/yr for GSG. Their 0.22 correlation means their historical movements had little consistent relationship. BIZD charges 12.86%/yr vs 0.75%/yr for GSG.
Performance
BIZD vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, BIZD achieves a -4.84% return, which is significantly lower than GSG's 35.21% return. Over the past 10 years, BIZD has underperformed GSG with an annualized return of 7.38%, while GSG has yielded a comparatively higher 8.24% annualized return.
BIZD
- 1D
- 2.74%
- 1M
- 1.84%
- 6M
- -1.94%
- YTD
- -4.84%
- 1Y
- -10.71%
- 3Y*
- 3.90%
- 5Y*
- 5.36%
- 10Y*
- 7.38%
- ALL TIME*
- 6.33%
GSG
- 1D
- -2.68%
- 1M
- 9.90%
- 6M
- 27.47%
- YTD
- 35.21%
- 1Y
- 38.52%
- 3Y*
- 13.26%
- 5Y*
- 14.69%
- 10Y*
- 8.24%
- ALL TIME*
- -2.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $35.10M | $40.21M | $41.46M | |
| $17.98M | $16.40M | $25.53M |
BIZD vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | -4.84% | -4.96% | 15.63% | 27.02% | -8.51% | 36.25% | -7.12% | 30.87% | -6.88% | 0.36% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 35.21% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between BIZD and GSG is -0.17, 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. | -0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.15 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2013 | 0.22 |
The correlation between BIZD and GSG shifts across timeframes, from -0.17 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BIZD vs. GSG — Risk / Return Rank
BIZD
GSG
BIZD vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck BDC Income ETF (BIZD) 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.
| BIZD | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.16 | ||
| Sortino ratioReturn per unit of downside risk | -2.87 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.28 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 2.06 | -2.62 |
| Martin ratioReturn relative to average drawdown | -0.96 | 6.61 | -7.56 |
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Drawdowns
BIZD vs. GSG - Drawdown Comparison
The maximum BIZD drawdown since its inception was -55.44%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for BIZD and GSG.
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Drawdown Indicators
| BIZD | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.44% | -89.62% | +34.18% |
Max Drawdown (1Y)Largest decline over 1 year | -18.99% | -18.81% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -22.56% | -18.81% | -3.75% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -29.12% | +6.21% |
Max Drawdown (10Y)Largest decline over 10 years | -55.44% | -57.64% | +2.20% |
Current DrawdownCurrent decline from peak | -15.60% | -59.18% | +43.58% |
Average DrawdownAverage peak-to-trough decline | -6.85% | -63.67% | +56.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.22% | 5.85% | +5.37% |
Volatility
BIZD vs. GSG - Volatility Comparison
The current volatility for VanEck BDC Income ETF (BIZD) is 5.43%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 8.75%. This indicates that BIZD 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
| BIZD | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.43% | 8.75% | -3.32% |
Volatility (6M)Calculated over the trailing 6-month period | 15.32% | 22.27% | -6.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.00% | 24.37% | -5.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.56% | 22.89% | -5.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.83% | 22.07% | -0.24% |
BIZD vs. GSG - Expense Ratio Comparison
BIZD has a 12.86% expense ratio, which is higher than GSG's 0.75% expense ratio.
Dividends
BIZD vs. GSG - Dividend Comparison
BIZD's dividend yield for the trailing twelve months is around 11.96%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | 11.96% | 11.78% | 10.94% | 10.96% | 11.21% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% |
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
BIZD and GSG have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (8.75%) compared to BIZD (5.43%). In terms of maximum drawdown, BIZD dropped -55.44% vs GSG's -89.62%.
On 10-year performance, GSG leads with 8.24% vs 7.38% for BIZD. On fees, GSG is cheaper at 0.75% per year. On volatility, BIZD has been the lower-risk option at 5.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GSG has performed better with a 8.24% return vs 7.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSG is cheaper with a 0.75% expense ratio, compared with 12.86% for BIZD.
BIZD has the higher dividend yield at 11.96%, compared with 0.00% for GSG.
BIZD is categorized as Financials Equities, while GSG is Commodities. BIZD tracks MVIS US Business Development Companies Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 12.86% for BIZD and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.59 vs -0.57), 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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