DCRE vs. GSY
DCRE (DoubleLine Commercial Real Estate ETF) and GSY (Invesco Ultra Short Duration ETF) are both exchange-traded funds - DCRE is a Short-Term Bond fund actively managed by DoubleLine, while GSY is a Ultrashort Bond fund actively managed by Invesco. Both are actively managed. Over the past 3 years, DCRE returned 6.20%/yr vs 5.45%/yr for GSY. At a 0.46 correlation, their price movements are largely independent. DCRE charges 0.40%/yr vs 0.22%/yr for GSY.
Performance
DCRE vs. GSY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DCRE achieves a 1.39% return, which is significantly lower than GSY's 1.59% return.
DCRE
- 1D
- -0.02%
- 1M
- 0.11%
- YTD
- 1.39%
- 6M
- 1.51%
- 1Y
- 4.74%
- 3Y*
- 6.20%
- 5Y*
- —
- 10Y*
- —
GSY
- 1D
- 0.00%
- 1M
- 0.36%
- YTD
- 1.59%
- 6M
- 1.96%
- 1Y
- 4.54%
- 3Y*
- 5.45%
- 5Y*
- 3.65%
- 10Y*
- 2.86%
DCRE vs. GSY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DCRE DoubleLine Commercial Real Estate ETF | 1.39% | 5.86% | 6.86% | 5.27% |
GSY Invesco Ultra Short Duration ETF | 1.59% | 4.96% | 5.95% | 4.56% |
Correlation
The correlation between DCRE and GSY is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2023 | 0.46 |
The correlation between DCRE and GSY shifts across timeframes, from 0.34 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DCRE vs. GSY — Risk / Return Rank
DCRE
GSY
DCRE vs. GSY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Commercial Real Estate ETF (DCRE) and Invesco Ultra Short Duration ETF (GSY). 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.
| DCRE | GSY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.36 | ||
| Sortino ratioReturn per unit of downside risk | -22.40 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 7.01 | -5.06 |
| Calmar ratioReturn relative to maximum drawdown | 6.98 | 76.07 | -69.09 |
| Martin ratioReturn relative to average drawdown | 25.78 | 397.70 | -371.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| DCRE | GSY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.16 | 11.52 | -7.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 6.29 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 2.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.90 | 0.46 | +3.44 |
Drawdowns
DCRE vs. GSY - Drawdown Comparison
The maximum DCRE drawdown since its inception was -0.84%, smaller than the maximum GSY drawdown of -12.14%. Use the drawdown chart below to compare losses from any high point for DCRE and GSY.
Loading charts...
Drawdown Indicators
| DCRE | GSY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.84% | -12.14% | +11.30% |
Max Drawdown (1Y)Largest decline over 1 year | -0.68% | -0.06% | -0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -0.84% | -0.18% | -0.66% |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.25% | — |
Current DrawdownCurrent decline from peak | -0.20% | 0.00% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -0.11% | -2.39% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 0.01% | +0.17% |
Volatility
DCRE vs. GSY - Volatility Comparison
DoubleLine Commercial Real Estate ETF (DCRE) has a higher volatility of 0.47% compared to Invesco Ultra Short Duration ETF (GSY) at 0.14%. This indicates that DCRE's price experiences larger fluctuations and is considered to be riskier than GSY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DCRE | GSY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 0.14% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 0.88% | 0.29% | +0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.14% | 0.40% | +0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.58% | 0.58% | +1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 1.22% | +0.36% |
DCRE vs. GSY - Expense Ratio Comparison
DCRE has a 0.40% expense ratio, which is higher than GSY's 0.22% expense ratio.
Dividends
DCRE vs. GSY - Dividend Comparison
DCRE's dividend yield for the trailing twelve months is around 4.75%, more than GSY's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DCRE DoubleLine Commercial Real Estate ETF | 4.75% | 4.84% | 5.52% | 3.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GSY Invesco Ultra Short Duration ETF | 4.34% | 4.56% | 5.31% | 4.95% | 1.70% | 0.58% | 1.45% | 2.71% | 2.30% | 1.80% | 1.21% | 1.17% |
Frequently Asked Questions
DCRE and GSY have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DCRE has higher volatility (0.47%) compared to GSY (0.14%). In terms of maximum drawdown, DCRE dropped -0.84% vs GSY's -12.14%.
On 3-year performance, DCRE leads with 6.20% vs 5.45% for GSY. On fees, GSY is cheaper at 0.22% per year. On volatility, GSY has been the lower-risk option at 0.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DCRE has performed better with a 6.20% return vs 5.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSY is cheaper with a 0.22% expense ratio, compared with 0.40% for DCRE.
DCRE has the higher dividend yield at 4.75%, compared with 4.34% for GSY.
DCRE is categorized as Short-Term Bond, while GSY is Ultrashort Bond. They also come from different issuers: DoubleLine and Invesco. Their fees differ too: 0.40% for DCRE and 0.22% for GSY.
GSY currently has the higher Sharpe Ratio (11.52 vs 4.16), 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.
Find the right allocation for DCRE and GSY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer