EFV vs. GSG
EFV (iShares MSCI EAFE Value ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - EFV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Value Index (Net), while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, EFV returned 10.63%/yr vs 8.91%/yr for GSG. Their 0.36 correlation means their historical movements had little consistent relationship. EFV charges 0.31%/yr vs 0.75%/yr for GSG.
Performance
EFV vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, EFV achieves a 16.27% return, which is significantly lower than GSG's 38.94% return. Over the past 10 years, EFV has outperformed GSG with an annualized return of 10.63%, while GSG has yielded a comparatively lower 8.91% annualized return.
EFV
- 1D
- -0.53%
- 1M
- 3.89%
- 6M
- 10.21%
- YTD
- 16.27%
- 1Y
- 34.23%
- 3Y*
- 22.38%
- 5Y*
- 14.42%
- 10Y*
- 10.63%
- ALL TIME*
- 6.14%
GSG
- 1D
- 0.28%
- 1M
- 12.94%
- 6M
- 25.75%
- YTD
- 38.94%
- 1Y
- 42.34%
- 3Y*
- 14.13%
- 5Y*
- 14.47%
- 10Y*
- 8.91%
- ALL TIME*
- -2.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $244.79M | $363.40M | $390.92M | |
| $16.60M | $17.31M | $26.52M |
EFV vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFV iShares MSCI EAFE Value ETF | 16.27% | 42.22% | 5.35% | 18.85% | -5.22% | 11.08% | -2.97% | 15.80% | -14.67% | 21.22% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 38.94% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between EFV and GSG is -0.18, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jul 21, 2006 | 0.36 |
The correlation between EFV and GSG shifts across timeframes, from -0.18 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EFV vs. GSG — Risk / Return Rank
EFV
GSG
EFV vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Value ETF (EFV) 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.
| EFV | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.29 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.14 | 2.16 | +0.98 |
| Martin ratioReturn relative to average drawdown | 11.73 | 6.99 | +4.74 |
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Drawdowns
EFV vs. GSG - Drawdown Comparison
The maximum EFV drawdown since its inception was -63.94%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for EFV and GSG.
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Drawdown Indicators
| EFV | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.94% | -89.62% | +25.68% |
Max Drawdown (1Y)Largest decline over 1 year | -10.90% | -18.81% | +7.91% |
Max Drawdown (3Y)Largest decline over 3 years | -13.72% | -18.81% | +5.09% |
Max Drawdown (5Y)Largest decline over 5 years | -25.84% | -29.12% | +3.28% |
Max Drawdown (10Y)Largest decline over 10 years | -43.16% | -57.64% | +14.48% |
Current DrawdownCurrent decline from peak | -0.53% | -58.05% | +57.52% |
Average DrawdownAverage peak-to-trough decline | -14.72% | -63.67% | +48.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 5.84% | -2.93% |
Volatility
EFV vs. GSG - Volatility Comparison
The current volatility for iShares MSCI EAFE Value ETF (EFV) is 4.20%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 8.11%. This indicates that EFV 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
| EFV | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 8.11% | -3.91% |
Volatility (6M)Calculated over the trailing 6-month period | 12.23% | 22.18% | -9.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.38% | 24.23% | -9.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.94% | 22.86% | -6.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.46% | 22.06% | -4.60% |
EFV vs. GSG - Expense Ratio Comparison
EFV has a 0.31% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
EFV vs. GSG - Dividend Comparison
EFV's dividend yield for the trailing twelve months is around 4.52%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFV iShares MSCI EAFE Value ETF | 4.52% | 4.16% | 4.66% | 4.36% | 4.17% | 4.07% | 2.42% | 4.62% | 4.56% | 3.56% | 3.28% | 3.59% |
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
EFV and GSG have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (8.11%) compared to EFV (4.20%). In terms of maximum drawdown, EFV dropped -63.94% vs GSG's -89.62%.
On 10-year performance, EFV leads with 10.63% vs 8.91% for GSG. On fees, EFV is cheaper at 0.31% per year. On volatility, EFV has been the lower-risk option at 4.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EFV has performed better with a 10.63% return vs 8.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EFV is cheaper with a 0.31% expense ratio, compared with 0.75% for GSG.
EFV has the higher dividend yield at 4.52%, compared with 0.00% for GSG.
EFV is categorized as Foreign Large Cap Equities, while GSG is Commodities. EFV tracks MSCI EAFE Value Index (Net), while GSG tracks S&P GSCI Total Return Index. Their fees differ too: 0.31% for EFV and 0.75% for GSG.
EFV currently has the higher Sharpe Ratio (2.38 vs 1.68), 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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