CORP vs. GSG
CORP (PIMCO Investment Grade Corporate Bond Index ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - CORP is a Corporate Bonds fund tracking the ICE BofA US Corporate, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, CORP returned 2.51%/yr vs 7.40%/yr for GSG. At a correlation of -0.06, they often move in opposite directions. CORP charges 0.20%/yr vs 0.75%/yr for GSG.
Performance
CORP vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, CORP achieves a -0.12% return, which is significantly lower than GSG's 32.35% return. Over the past 10 years, CORP has underperformed GSG with an annualized return of 2.51%, while GSG has yielded a comparatively higher 7.40% annualized return.
CORP
- 1D
- -0.40%
- 1M
- -0.93%
- 6M
- -0.31%
- YTD
- -0.12%
- 1Y
- 4.09%
- 3Y*
- 5.10%
- 5Y*
- 0.37%
- 10Y*
- 2.51%
GSG
- 1D
- 3.60%
- 1M
- -0.20%
- 6M
- 28.24%
- YTD
- 32.35%
- 1Y
- 34.57%
- 3Y*
- 14.41%
- 5Y*
- 13.83%
- 10Y*
- 7.40%
CORP vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CORP PIMCO Investment Grade Corporate Bond Index ETF | -0.12% | 7.96% | 2.47% | 9.13% | -14.96% | -1.18% | 9.70% | 14.80% | -3.29% | 6.56% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.35% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between CORP and GSG is -0.35, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2010 | -0.06 |
Over the past year, the inverse relationship between CORP and GSG has strengthened: their correlation has moved from -0.06 to -0.35, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
CORP vs. GSG — Risk / Return Rank
CORP
GSG
CORP vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Investment Grade Corporate Bond Index ETF (CORP) 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.
| CORP | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.27 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 1.85 | -0.42 |
| Martin ratioReturn relative to average drawdown | 4.42 | 6.29 | -1.87 |
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Drawdowns
CORP vs. GSG - Drawdown Comparison
The maximum CORP drawdown since its inception was -21.21%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for CORP and GSG.
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Drawdown Indicators
| CORP | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.21% | -89.62% | +68.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -18.81% | +15.93% |
Max Drawdown (3Y)Largest decline over 3 years | -6.06% | -18.81% | +12.75% |
Max Drawdown (5Y)Largest decline over 5 years | -21.21% | -29.12% | +7.91% |
Max Drawdown (10Y)Largest decline over 10 years | -21.21% | -57.64% | +36.43% |
Current DrawdownCurrent decline from peak | -1.74% | -60.04% | +58.30% |
Average DrawdownAverage peak-to-trough decline | -3.59% | -63.69% | +60.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 5.51% | -4.58% |
Volatility
CORP vs. GSG - Volatility Comparison
The current volatility for PIMCO Investment Grade Corporate Bond Index ETF (CORP) is 1.36%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.35%. This indicates that CORP 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
| CORP | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 7.35% | -5.99% |
Volatility (6M)Calculated over the trailing 6-month period | 3.22% | 21.50% | -18.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 23.48% | -19.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.90% | 22.80% | -15.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.09% | 22.00% | -14.91% |
CORP vs. GSG - Expense Ratio Comparison
CORP has a 0.20% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
CORP vs. GSG - Dividend Comparison
CORP's dividend yield for the trailing twelve months is around 4.93%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORP PIMCO Investment Grade Corporate Bond Index ETF | 4.93% | 4.77% | 4.74% | 4.12% | 3.28% | 2.51% | 2.90% | 3.25% | 3.18% | 3.08% | 2.91% | 3.14% |
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
CORP and GSG 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.
GSG has higher volatility (7.35%) compared to CORP (1.36%). In terms of maximum drawdown, CORP dropped -21.21% vs GSG's -89.62%.
On 10-year performance, GSG leads with 7.40% vs 2.51% for CORP. On fees, CORP is cheaper at 0.20% per year. On volatility, CORP has been the lower-risk option at 1.36%. 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 7.40% return vs 2.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CORP is cheaper with a 0.20% expense ratio, compared with 0.75% for GSG.
CORP has the higher dividend yield at 4.93%, compared with 0.00% for GSG.
CORP is categorized as Corporate Bonds, while GSG is Commodities. CORP tracks ICE BofA US Corporate, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.20% for CORP and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.48 vs 0.99), 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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