CMDY vs. GSG
Compare and contrast key facts about iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and iShares S&P GSCI Commodity-Indexed Trust (GSG).
CMDY and GSG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CMDY is a passively managed fund by iShares that tracks the performance of the Bloomberg Roll Select Commodity Total Return Index. It was launched on Apr 3, 2018. GSG is a passively managed fund by iShares that tracks the performance of the S&P GSCI Total Return Index. It was launched on Jul 21, 2006. Both CMDY and GSG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
CMDY vs. GSG - Performance Comparison
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CMDY vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 21.23% | 15.81% | 5.43% | -9.33% | 14.55% | 26.38% | 1.15% | 4.96% | -11.11% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 38.38% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -15.03% |
Returns By Period
In the year-to-date period, CMDY achieves a 21.23% return, which is significantly lower than GSG's 38.38% return.
CMDY
- 1D
- -0.54%
- 1M
- 6.54%
- YTD
- 21.23%
- 6M
- 26.39%
- 1Y
- 28.68%
- 3Y*
- 12.40%
- 5Y*
- 12.67%
- 10Y*
- —
GSG
- 1D
- -1.05%
- 1M
- 18.45%
- YTD
- 38.38%
- 6M
- 39.22%
- 1Y
- 40.14%
- 3Y*
- 16.62%
- 5Y*
- 17.68%
- 10Y*
- 8.98%
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CMDY vs. GSG - Expense Ratio Comparison
CMDY has a 0.28% expense ratio, which is lower than GSG's 0.75% expense ratio.
Return for Risk
CMDY vs. GSG — Risk / Return Rank
CMDY
GSG
CMDY vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) 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.
| CMDY | GSG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.75 | 1.91 | -0.15 |
Sortino ratioReturn per unit of downside risk | 2.31 | 2.58 | -0.27 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.35 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 3.00 | 3.37 | -0.37 |
Martin ratioReturn relative to average drawdown | 9.38 | 9.40 | -0.03 |
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
| CMDY | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 1.91 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 0.81 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | -0.09 | +0.64 |
Correlation
The correlation between CMDY and GSG is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CMDY vs. GSG - Dividend Comparison
CMDY's dividend yield for the trailing twelve months is around 10.64%, while GSG has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 10.64% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% |
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% |
Drawdowns
CMDY vs. GSG - Drawdown Comparison
The maximum CMDY drawdown since its inception was -31.19%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for CMDY and GSG.
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Drawdown Indicators
| CMDY | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.19% | -89.62% | +58.43% |
Max Drawdown (1Y)Largest decline over 1 year | -9.57% | -11.91% | +2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -26.56% | -29.12% | +2.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -0.97% | -58.22% | +57.25% |
Average DrawdownAverage peak-to-trough decline | -13.38% | -63.77% | +50.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 4.27% | -1.21% |
Volatility
CMDY vs. GSG - Volatility Comparison
The current volatility for iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) is 6.76%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 11.23%. This indicates that CMDY 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
| CMDY | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.76% | 11.23% | -4.47% |
Volatility (6M)Calculated over the trailing 6-month period | 13.02% | 16.29% | -3.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.43% | 21.14% | -4.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.63% | 21.97% | -6.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.54% | 21.77% | -7.23% |