COMT vs. GNR
COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) and GNR (SPDR S&P Global Natural Resources ETF) are both exchange-traded funds - COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index, while GNR is a Natural Resources fund tracking the S&P Global Natural Resources Index. Both are passively managed. Over the past 10 years, COMT returned 7.70%/yr vs 10.15%/yr for GNR. A 0.61 correlation means they provide meaningful diversification when combined. COMT charges 0.48%/yr vs 0.40%/yr for GNR.
Performance
COMT vs. GNR - Performance Comparison
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Returns By Period
In the year-to-date period, COMT achieves a 20.95% return, which is significantly higher than GNR's 9.29% return. Over the past 10 years, COMT has underperformed GNR with an annualized return of 7.70%, while GNR has yielded a comparatively higher 10.15% annualized return.
COMT
- 1D
- -2.37%
- 1M
- -14.00%
- YTD
- 20.95%
- 6M
- 19.91%
- 1Y
- 25.37%
- 3Y*
- 11.11%
- 5Y*
- 10.23%
- 10Y*
- 7.70%
GNR
- 1D
- -1.42%
- 1M
- -7.95%
- YTD
- 9.29%
- 6M
- 8.87%
- 1Y
- 28.04%
- 3Y*
- 12.21%
- 5Y*
- 8.45%
- 10Y*
- 10.15%
COMT vs. GNR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 20.95% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
GNR SPDR S&P Global Natural Resources ETF | 9.29% | 28.68% | -8.27% | 2.95% | 10.20% | 24.73% | -0.03% | 16.49% | -13.19% | 22.64% |
Correlation
The correlation between COMT and GNR is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.61 |
Over the past year, the correlation between COMT and GNR has dropped to 0.29 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.
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Return for Risk
COMT vs. GNR — Risk / Return Rank
COMT
GNR
COMT vs. GNR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) and SPDR S&P Global Natural Resources ETF (GNR). 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.
| COMT | GNR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.29 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 2.68 | -1.23 |
| Martin ratioReturn relative to average drawdown | 6.71 | 11.29 | -4.58 |
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Drawdowns
COMT vs. GNR - Drawdown Comparison
The maximum COMT drawdown since its inception was -51.89%, roughly equal to the maximum GNR drawdown of -51.37%. Use the drawdown chart below to compare losses from any high point for COMT and GNR.
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Drawdown Indicators
| COMT | GNR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.89% | -51.37% | -0.52% |
Max Drawdown (1Y)Largest decline over 1 year | -17.57% | -10.50% | -7.07% |
Max Drawdown (3Y)Largest decline over 3 years | -17.57% | -21.15% | +3.58% |
Max Drawdown (5Y)Largest decline over 5 years | -29.00% | -25.66% | -3.34% |
Max Drawdown (10Y)Largest decline over 10 years | -39.22% | -48.59% | +9.37% |
Current DrawdownCurrent decline from peak | -17.57% | -10.50% | -7.07% |
Average DrawdownAverage peak-to-trough decline | -24.00% | -14.92% | -9.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 2.49% | +1.30% |
Volatility
COMT vs. GNR - Volatility Comparison
The current volatility for iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) is 5.32%, while SPDR S&P Global Natural Resources ETF (GNR) has a volatility of 6.04%. This indicates that COMT experiences smaller price fluctuations and is considered to be less risky than GNR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COMT | GNR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 6.04% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 19.40% | 14.18% | +5.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.28% | 17.38% | +3.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.15% | 20.28% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.87% | 21.82% | -2.95% |
COMT vs. GNR - Expense Ratio Comparison
COMT has a 0.48% expense ratio, which is higher than GNR's 0.40% expense ratio.
Dividends
COMT vs. GNR - Dividend Comparison
COMT's dividend yield for the trailing twelve months is around 6.40%, more than GNR's 2.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 6.40% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
GNR SPDR S&P Global Natural Resources ETF | 2.71% | 2.76% | 4.73% | 3.37% | 4.37% | 3.44% | 2.78% | 3.84% | 3.51% | 2.40% | 2.06% | 4.59% |
Frequently Asked Questions
COMT and GNR have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GNR has higher volatility (6.04%) compared to COMT (5.32%). In terms of maximum drawdown, COMT dropped -51.89% vs GNR's -51.37%.
On 10-year performance, GNR leads with 10.15% vs 7.70% for COMT. On fees, GNR is cheaper at 0.40% per year. On volatility, COMT has been the lower-risk option at 5.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GNR has performed better with a 10.15% return vs 7.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GNR is cheaper with a 0.40% expense ratio, compared with 0.48% for COMT.
COMT has the higher dividend yield at 6.40%, compared with 2.71% for GNR.
COMT is categorized as Commodities, while GNR is Natural Resources. COMT tracks S&P GSCI Dynamic Roll (USD) Total Return Index, while GNR tracks S&P Global Natural Resources Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.48% for COMT and 0.40% for GNR.
GNR currently has the higher Sharpe Ratio (1.62 vs 1.21), 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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