COMT vs. GSG
COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both Commodities funds from iShares - COMT tracks the S&P GSCI Dynamic Roll (USD) Total Return Index while GSG tracks the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, COMT returned 8.06%/yr vs 6.69%/yr for GSG. Their correlation of 0.93 suggests significant overlap in exposure. COMT charges 0.48%/yr vs 0.75%/yr for GSG.
Performance
COMT vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, COMT achieves a 25.05% return, which is significantly lower than GSG's 26.84% return. Over the past 10 years, COMT has outperformed GSG with an annualized return of 8.06%, while GSG has yielded a comparatively lower 6.69% annualized return.
COMT
- 1D
- -0.76%
- 1M
- -11.08%
- YTD
- 25.05%
- 6M
- 25.05%
- 1Y
- 21.95%
- 3Y*
- 12.36%
- 5Y*
- 11.04%
- 10Y*
- 8.06%
GSG
- 1D
- -0.95%
- 1M
- -12.03%
- YTD
- 26.84%
- 6M
- 26.40%
- 1Y
- 23.99%
- 3Y*
- 14.41%
- 5Y*
- 13.07%
- 10Y*
- 6.69%
COMT vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 25.05% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 26.84% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between COMT and GSG is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.93 |
The correlation between COMT and GSG has been stable across timeframes, ranging from 0.93 to 0.99 - a consistent structural relationship.
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Return for Risk
COMT vs. GSG — Risk / Return Rank
COMT
GSG
COMT vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) 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.
| COMT | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.20 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.52 | -0.03 |
| Martin ratioReturn relative to average drawdown | 6.26 | 6.22 | +0.04 |
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Drawdowns
COMT vs. GSG - Drawdown Comparison
The maximum COMT drawdown since its inception was -51.89%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for COMT and GSG.
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Drawdown Indicators
| COMT | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.89% | -89.62% | +37.73% |
Max Drawdown (1Y)Largest decline over 1 year | -14.78% | -15.88% | +1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -14.78% | -15.88% | +1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -29.00% | -29.12% | +0.12% |
Max Drawdown (10Y)Largest decline over 10 years | -39.22% | -57.64% | +18.42% |
Current DrawdownCurrent decline from peak | -14.78% | -61.70% | +46.92% |
Average DrawdownAverage peak-to-trough decline | -24.01% | -63.69% | +39.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 4.46% | -0.30% |
Volatility
COMT vs. GSG - Volatility Comparison
The current volatility for iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) is 5.01%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 5.46%. This indicates that COMT 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
| COMT | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.01% | 5.46% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 19.22% | 20.81% | -1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.47% | 23.19% | -1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.12% | 22.66% | -1.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.89% | 22.03% | -3.14% |
COMT vs. GSG - Expense Ratio Comparison
COMT has a 0.48% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
COMT vs. GSG - Dividend Comparison
COMT's dividend yield for the trailing twelve months is around 6.19%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 6.19% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
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
With a correlation of 0.99, COMT and GSG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GSG has higher volatility (5.46%) compared to COMT (5.01%). In terms of maximum drawdown, COMT dropped -51.89% vs GSG's -89.62%.
On 10-year performance, COMT leads with 8.06% vs 6.69% for GSG. On fees, COMT is cheaper at 0.48% per year. On volatility, COMT has been the lower-risk option at 5.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, COMT has performed better with a 8.06% return vs 6.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 0.75% for GSG.
COMT has the higher dividend yield at 6.19%, compared with 0.00% for GSG.
COMT tracks S&P GSCI Dynamic Roll (USD) Total Return Index, while GSG tracks S&P GSCI Total Return Index. Their fees differ too: 0.48% for COMT and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.04 vs 1.03), 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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