CTWO vs. GSG

Last updated Jun 4, 2026

CTWO (COtwo Advisors Physical European Carbon Allowance Trust) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both Commodities funds. At a correlation of -0.06, they often move in opposite directions. CTWO charges 0.79%/yr vs 0.75%/yr for GSG.

Performance

CTWO vs. GSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in COtwo Advisors Physical European Carbon Allowance Trust (CTWO) and iShares S&P GSCI Commodity-Indexed Trust (GSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTWO achieves a -15.24% return, which is significantly lower than GSG's 42.58% return.

CTWO

• 1D: 2.00%
• 1M: 1.51%
• YTD: -15.24%
• 6M: -10.98%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GSG

• 1D: 0.77%
• 1M: -4.83%
• YTD: 42.58%
• 6M: 41.06%
• 1Y: 51.52%
• 3Y*: 19.31%
• 5Y*: 15.74%
• 10Y*: 7.69%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CTWO vs. GSG - Yearly Performance Comparison

	2026 (YTD)	2025
CTWO COtwo Advisors Physical European Carbon Allowance Trust	-15.24%	15.78%
GSG iShares S&P GSCI Commodity-Indexed Trust	42.58%	-2.25%

Correlation

The correlation between CTWO and GSG is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 23, 2025	-0.06

Return for Risk

CTWO vs. GSG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GSG

GSG Risk / Return Rank: 71
GSG Sharpe Ratio Rank: 67
GSG Sortino Ratio Rank: 60
GSG Omega Ratio Rank: 65
GSG Calmar Ratio Rank: 89
GSG Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CTWO vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for COtwo Advisors Physical European Carbon Allowance Trust (CTWO) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CTWO	GSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.26	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	-0.09	+0.02

Drawdowns

CTWO vs. GSG - Drawdown Comparison

The maximum CTWO drawdown since its inception was -30.13%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for CTWO and GSG.

Drawdown Indicators

	CTWO	GSG	Difference
Max Drawdown Largest peak-to-trough decline	-30.13%	-89.62%	+59.49%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.46%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-57.64%	—
Current Drawdown Current decline from peak	-24.89%	-56.95%	+32.06%
Average Drawdown Average peak-to-trough decline	-9.19%	-63.71%	+54.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.59%	—

Volatility

Volatility by Period

	CTWO	GSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.65%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.94%	22.95%	+4.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.94%	22.61%	+5.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.94%	22.03%	+5.91%

CTWO vs. GSG - Expense Ratio Comparison

CTWO has a 0.79% expense ratio, which is higher than GSG's 0.75% expense ratio.

Dividends

CTWO vs. GSG - Dividend Comparison

Neither CTWO nor GSG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CTWO and GSG in my portfolio?

CTWO and GSG have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CTWO or GSG?

On fees, GSG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CTWO or GSG?

GSG is cheaper with a 0.75% expense ratio, compared with 0.79% for CTWO.

Which ETF pays a higher dividend yield, CTWO or GSG?

CTWO and GSG have nearly identical dividend yields, around 0.00%.

What is the main difference between CTWO and GSG?

They also come from different issuers: COtwo Advisors and iShares. Their fees differ too: 0.79% for CTWO and 0.75% for GSG.