EFRA vs. GSG
EFRA (iShares Environmental Infrastructure and Industrials ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - EFRA is a Industrials Equities fund tracking the FTSE Green Revenues Select Infrastructure and Industrials Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 3 years, EFRA returned 11.09%/yr vs 15.01%/yr for GSG. At a 0.07 correlation, their price movements are largely independent. EFRA charges 0.47%/yr vs 0.75%/yr for GSG.
Performance
EFRA vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, EFRA achieves a 8.47% return, which is significantly lower than GSG's 34.43% return.
EFRA
- 1D
- 0.57%
- 1M
- 3.48%
- 6M
- 4.59%
- YTD
- 8.47%
- 1Y
- 10.13%
- 3Y*
- 11.09%
- 5Y*
- —
- 10Y*
- —
GSG
- 1D
- 1.57%
- 1M
- 1.37%
- 6M
- 28.74%
- YTD
- 34.43%
- 1Y
- 38.08%
- 3Y*
- 15.01%
- 5Y*
- 14.34%
- 10Y*
- 7.57%
EFRA vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EFRA iShares Environmental Infrastructure and Industrials ETF | 8.47% | 13.76% | 8.09% | 14.49% | 8.75% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 34.43% | 5.93% | 8.52% | -5.51% | -4.50% |
Correlation
The correlation between EFRA and GSG is -0.23, 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 | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022 | 0.07 |
The correlation between EFRA and GSG shifts across timeframes, from -0.23 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EFRA vs. GSG — Risk / Return Rank
EFRA
GSG
EFRA vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Environmental Infrastructure and Industrials ETF (EFRA) 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.
| EFRA | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.29 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.91 | 2.03 | -1.13 |
| Martin ratioReturn relative to average drawdown | 2.38 | 6.88 | -4.50 |
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Drawdowns
EFRA vs. GSG - Drawdown Comparison
The maximum EFRA drawdown since its inception was -16.25%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for EFRA and GSG.
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Drawdown Indicators
| EFRA | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.25% | -89.62% | +73.37% |
Max Drawdown (1Y)Largest decline over 1 year | -11.20% | -18.81% | +7.61% |
Max Drawdown (3Y)Largest decline over 3 years | -16.25% | -18.81% | +2.56% |
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 | -3.88% | -59.41% | +55.53% |
Average DrawdownAverage peak-to-trough decline | -3.68% | -63.69% | +60.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 5.55% | -1.28% |
Volatility
EFRA vs. GSG - Volatility Comparison
The current volatility for iShares Environmental Infrastructure and Industrials ETF (EFRA) is 4.27%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.37%. This indicates that EFRA 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
| EFRA | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 7.37% | -3.10% |
Volatility (6M)Calculated over the trailing 6-month period | 11.94% | 21.54% | -9.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.73% | 23.48% | -8.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.57% | 22.80% | -7.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.57% | 22.00% | -6.43% |
EFRA vs. GSG - Expense Ratio Comparison
EFRA has a 0.47% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
EFRA vs. GSG - Dividend Comparison
EFRA's dividend yield for the trailing twelve months is around 4.06%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
EFRA iShares Environmental Infrastructure and Industrials ETF | 4.06% | 4.34% | 3.79% | 1.85% | 0.14% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EFRA and GSG have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (7.37%) compared to EFRA (4.27%). In terms of maximum drawdown, EFRA dropped -16.25% vs GSG's -89.62%.
On 3-year performance, GSG leads with 15.01% vs 11.09% for EFRA. On fees, EFRA is cheaper at 0.47% per year. On volatility, EFRA has been the lower-risk option at 4.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GSG has performed better with a 15.01% return vs 11.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EFRA is cheaper with a 0.47% expense ratio, compared with 0.75% for GSG.
EFRA has the higher dividend yield at 4.06%, compared with 0.00% for GSG.
EFRA is categorized as Industrials Equities, while GSG is Commodities. EFRA tracks FTSE Green Revenues Select Infrastructure and Industrials Index, while GSG tracks S&P GSCI Total Return Index. Their fees differ too: 0.47% for EFRA and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.63 vs 0.69), 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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