FTCB vs. GSG
FTCB (First Trust Core Investment Grade ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - FTCB is a Intermediate Core Bond fund actively managed by First Trust, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. FTCB is actively managed, while GSG is passively managed. Over the past year, FTCB returned 4.62% vs 38.08% for GSG. At a correlation of -0.20, they often move in opposite directions. FTCB charges 0.55%/yr vs 0.75%/yr for GSG.
Performance
FTCB vs. GSG - Performance Comparison
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Returns By Period
FTCB
- 1D
- 0.22%
- 1M
- -0.45%
- 6M
- -0.19%
- YTD
- 0.00%
- 1Y
- 4.62%
- 3Y*
- —
- 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%
FTCB vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FTCB First Trust Core Investment Grade ETF | 0.00% | 8.12% | 2.57% | 5.69% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 34.43% | 5.93% | 8.52% | -4.70% |
Correlation
The correlation between FTCB and GSG is -0.33, 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 | -0.33 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2023 | -0.20 |
The correlation between FTCB and GSG shifts across timeframes, from -0.33 (1 year) to -0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FTCB vs. GSG — Risk / Return Rank
FTCB
GSG
FTCB vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Core Investment Grade ETF (FTCB) 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.
| FTCB | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.29 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 2.03 | -0.51 |
| Martin ratioReturn relative to average drawdown | 4.31 | 6.88 | -2.57 |
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Drawdowns
FTCB vs. GSG - Drawdown Comparison
The maximum FTCB drawdown since its inception was -4.99%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for FTCB and GSG.
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Drawdown Indicators
| FTCB | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.99% | -89.62% | +84.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.04% | -18.81% | +15.77% |
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 | -1.88% | -59.41% | +57.53% |
Average DrawdownAverage peak-to-trough decline | -1.27% | -63.69% | +62.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 5.55% | -4.48% |
Volatility
FTCB vs. GSG - Volatility Comparison
The current volatility for First Trust Core Investment Grade ETF (FTCB) is 1.39%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.37%. This indicates that FTCB 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
| FTCB | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 7.37% | -5.98% |
Volatility (6M)Calculated over the trailing 6-month period | 3.18% | 21.54% | -18.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 23.48% | -19.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.18% | 22.80% | -17.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.18% | 22.00% | -16.82% |
FTCB vs. GSG - Expense Ratio Comparison
FTCB has a 0.55% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
FTCB vs. GSG - Dividend Comparison
FTCB's dividend yield for the trailing twelve months is around 5.37%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FTCB First Trust Core Investment Grade ETF | 5.37% | 4.99% | 5.19% | 0.35% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FTCB and GSG have a correlation of -0.33, 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 FTCB (1.39%). In terms of maximum drawdown, FTCB dropped -4.99% vs GSG's -89.62%.
On 1-year performance, GSG leads with 38.08% vs 4.62% for FTCB. On fees, FTCB is cheaper at 0.55% per year. On volatility, FTCB has been the lower-risk option at 1.39%. 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 38.08% return vs 4.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTCB is cheaper with a 0.55% expense ratio, compared with 0.75% for GSG.
FTCB has the higher dividend yield at 5.37%, compared with 0.00% for GSG.
FTCB is categorized as Intermediate Core Bond, while GSG is Commodities. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.55% for FTCB and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.63 vs 1.14), 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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