DEFR vs. GSG
DEFR (Aptus Deferred Income ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - DEFR is a Intermediate Core-Plus Bond fund actively managed by Aptus, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. DEFR is actively managed, while GSG is passively managed. Over the past year, DEFR returned 4.53% vs 27.68% for GSG. At a correlation of -0.27, they often move in opposite directions. DEFR charges 0.79%/yr vs 0.75%/yr for GSG.
Performance
DEFR vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, DEFR achieves a -0.15% return, which is significantly lower than GSG's 22.42% return.
DEFR
- 1D
- 0.41%
- 1M
- 0.83%
- YTD
- -0.15%
- 6M
- -0.30%
- 1Y
- 4.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GSG
- 1D
- -2.49%
- 1M
- -15.10%
- YTD
- 22.42%
- 6M
- 21.05%
- 1Y
- 27.68%
- 3Y*
- 13.07%
- 5Y*
- 12.18%
- 10Y*
- 6.32%
DEFR vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DEFR Aptus Deferred Income ETF | -0.15% | 6.80% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 22.42% | 5.93% |
Correlation
The correlation between DEFR and GSG is -0.25, 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 | -0.25 |
Correlation (All Time) Calculated using the full available price history since May 14, 2025 | -0.27 |
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Return for Risk
DEFR vs. GSG — Risk / Return Rank
DEFR
GSG
DEFR vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aptus Deferred Income ETF (DEFR) 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.
| DEFR | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.23 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.48 | -0.31 |
| Martin ratioReturn relative to average drawdown | 2.96 | 6.67 | -3.71 |
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Drawdowns
DEFR vs. GSG - Drawdown Comparison
The maximum DEFR drawdown since its inception was -3.90%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for DEFR and GSG.
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Drawdown Indicators
| DEFR | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.90% | -89.62% | +85.72% |
Max Drawdown (1Y)Largest decline over 1 year | -3.90% | -18.81% | +14.91% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.81% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -2.45% | -63.04% | +60.59% |
Average DrawdownAverage peak-to-trough decline | -1.02% | -63.69% | +62.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 4.16% | -2.62% |
Volatility
DEFR vs. GSG - Volatility Comparison
The current volatility for Aptus Deferred Income ETF (DEFR) is 1.61%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 5.75%. This indicates that DEFR 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
| DEFR | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 5.75% | -4.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.50% | 20.98% | -17.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.17% | 22.98% | -17.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 22.70% | -17.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.34% | 22.02% | -16.68% |
DEFR vs. GSG - Expense Ratio Comparison
DEFR has a 0.79% expense ratio, which is higher than GSG's 0.75% expense ratio.
Dividends
DEFR vs. GSG - Dividend Comparison
Neither DEFR nor GSG has paid dividends to shareholders.
Frequently Asked Questions
DEFR and GSG have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (5.75%) compared to DEFR (1.61%). In terms of maximum drawdown, DEFR dropped -3.90% vs GSG's -89.62%.
On 1-year performance, GSG leads with 27.68% vs 4.53% for DEFR. On fees, GSG is cheaper at 0.75% per year. On volatility, DEFR has been the lower-risk option at 1.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GSG has performed better with a 27.68% return vs 4.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSG is cheaper with a 0.75% expense ratio, compared with 0.79% for DEFR.
DEFR and GSG have nearly identical dividend yields, around 0.00%.
DEFR is categorized as Intermediate Core-Plus Bond, while GSG is Commodities. They also come from different issuers: Aptus and iShares. Their fees differ too: 0.79% for DEFR and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.22 vs 0.88), 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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