COMB vs. BAR
COMB (GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF) and BAR (GraniteShares Gold Trust) are both exchange-traded funds - COMB is a Commodities fund actively managed by GraniteShares, while BAR is a Gold fund tracking the LBMA Gold Price PM ($/ozt). COMB is actively managed, while BAR is passively managed. Over the past 5 years, COMB returned 11.27%/yr vs 18.41%/yr for BAR. At a 0.38 correlation, their price movements are largely independent. COMB charges 0.25%/yr vs 0.17%/yr for BAR.
Performance
COMB vs. BAR - Performance Comparison
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Returns By Period
In the year-to-date period, COMB achieves a 26.81% return, which is significantly higher than BAR's 2.94% return.
COMB
- 1D
- 0.03%
- 1M
- -2.98%
- YTD
- 26.81%
- 6M
- 25.89%
- 1Y
- 38.86%
- 3Y*
- 16.31%
- 5Y*
- 11.27%
- 10Y*
- —
BAR
- 1D
- -1.02%
- 1M
- -1.62%
- YTD
- 2.94%
- 6M
- 5.50%
- 1Y
- 32.26%
- 3Y*
- 31.38%
- 5Y*
- 18.41%
- 10Y*
- —
COMB vs. BAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 26.81% | 15.12% | 5.24% | -7.75% | 14.56% | 26.34% | -2.95% | 7.02% | -11.41% | 4.35% |
BAR GraniteShares Gold Trust | 2.94% | 64.12% | 26.97% | 12.96% | -0.55% | -3.92% | 25.02% | 18.16% | -1.87% | -1.15% |
Correlation
The correlation between COMB and BAR is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Sep 1, 2017 | 0.38 |
The correlation between COMB and BAR shifts across timeframes, from 0.35 (1 year) to 0.47 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
COMB vs. BAR — Risk / Return Rank
COMB
BAR
COMB vs. BAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) and GraniteShares Gold Trust (BAR). 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.
| COMB | BAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.25 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 5.08 | 1.69 | +3.39 |
| Martin ratioReturn relative to average drawdown | 13.24 | 4.19 | +9.05 |
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
| COMB | BAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.29 | 1.23 | +1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 1.03 | -0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.90 | -0.38 |
Drawdowns
COMB vs. BAR - Drawdown Comparison
The maximum COMB drawdown since its inception was -33.50%, which is greater than BAR's maximum drawdown of -21.53%. Use the drawdown chart below to compare losses from any high point for COMB and BAR.
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Drawdown Indicators
| COMB | BAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.50% | -21.53% | -11.97% |
Max Drawdown (1Y)Largest decline over 1 year | -7.69% | -19.19% | +11.50% |
Max Drawdown (3Y)Largest decline over 3 years | -11.35% | -19.19% | +7.84% |
Max Drawdown (5Y)Largest decline over 5 years | -26.63% | -20.91% | -5.72% |
Current DrawdownCurrent decline from peak | -4.35% | -17.72% | +13.37% |
Average DrawdownAverage peak-to-trough decline | -12.06% | -6.45% | -5.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 7.72% | -4.78% |
Volatility
COMB vs. BAR - Volatility Comparison
The current volatility for GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) is 5.14%, while GraniteShares Gold Trust (BAR) has a volatility of 5.46%. This indicates that COMB experiences smaller price fluctuations and is considered to be less risky than BAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COMB | BAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.14% | 5.46% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 14.99% | 23.03% | -8.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.02% | 26.43% | -9.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.70% | 17.90% | -1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.13% | 16.38% | -1.25% |
COMB vs. BAR - Expense Ratio Comparison
COMB has a 0.25% expense ratio, which is higher than BAR's 0.17% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
COMB vs. BAR - Dividend Comparison
COMB's dividend yield for the trailing twelve months is around 7.14%, while BAR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BAR GraniteShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 7.14% | 9.05% | 2.48% | 6.57% | 30.85% | 15.83% | 0.07% | 1.48% | 0.97% | 0.20% |
Frequently Asked Questions
COMB and BAR have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BAR has higher volatility (5.46%) compared to COMB (5.14%). In terms of maximum drawdown, COMB dropped -33.50% vs BAR's -21.53%.
On 5-year performance, BAR leads with 18.41% vs 11.27% for COMB. On fees, BAR is cheaper at 0.17% per year. On volatility, COMB has been the lower-risk option at 5.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BAR has performed better with a 18.41% return vs 11.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BAR is cheaper with a 0.17% expense ratio, compared with 0.25% for COMB.
COMB has the higher dividend yield at 7.14%, compared with 0.00% for BAR.
COMB is categorized as Commodities, while BAR is Gold. Their fees differ too: 0.25% for COMB and 0.17% for BAR.
COMB currently has the higher Sharpe Ratio (2.29 vs 1.23), 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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