GAM vs. PIT
GAM (General American Investors Company, Inc.) is a stock, while PIT (VanEck Commodity Strategy ETF) is Commodities fund actively managed by VanEck. Over the past 3 years, GAM returned 27.21%/yr vs 24.30%/yr for PIT. At a 0.14 correlation, their price movements are largely independent.
Performance
GAM vs. PIT - Performance Comparison
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Returns By Period
In the year-to-date period, GAM achieves a 8.22% return, which is significantly lower than PIT's 41.36% return.
GAM
- 1D
- -0.84%
- 1M
- 0.09%
- YTD
- 8.22%
- 6M
- 7.93%
- 1Y
- 29.55%
- 3Y*
- 27.21%
- 5Y*
- 14.95%
- 10Y*
- 15.46%
PIT
- 1D
- 0.58%
- 1M
- -2.84%
- YTD
- 41.36%
- 6M
- 42.58%
- 1Y
- 62.93%
- 3Y*
- 24.30%
- 5Y*
- —
- 10Y*
- —
GAM vs. PIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GAM General American Investors Company, Inc. | 8.22% | 28.63% | 29.55% | 26.84% | 1.20% |
PIT VanEck Commodity Strategy ETF | 41.36% | 21.63% | 6.77% | -4.54% | 2.74% |
Correlation
The correlation between GAM and PIT is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Dec 23, 2022 | 0.14 |
The correlation between GAM and PIT shifts across timeframes, from -0.05 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GAM vs. PIT — Risk / Return Rank
GAM
PIT
GAM vs. PIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for General American Investors Company, Inc. (GAM) and VanEck Commodity Strategy ETF (PIT). 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.
| GAM | PIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.52 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 6.83 | -3.40 |
| Martin ratioReturn relative to average drawdown | 17.24 | 23.27 | -6.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GAM | PIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.72 | 2.97 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 1.07 | -0.62 |
Drawdowns
GAM vs. PIT - Drawdown Comparison
The maximum GAM drawdown since its inception was -66.63%, which is greater than PIT's maximum drawdown of -12.27%. Use the drawdown chart below to compare losses from any high point for GAM and PIT.
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Drawdown Indicators
| GAM | PIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.63% | -12.27% | -54.36% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -9.27% | +0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -14.90% | -12.27% | -2.63% |
Max Drawdown (5Y)Largest decline over 5 years | -26.09% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.78% | — | — |
Current DrawdownCurrent decline from peak | -2.55% | -4.56% | +2.01% |
Average DrawdownAverage peak-to-trough decline | -11.57% | -3.99% | -7.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 2.71% | -0.99% |
Volatility
GAM vs. PIT - Volatility Comparison
The current volatility for General American Investors Company, Inc. (GAM) is 2.92%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 6.08%. This indicates that GAM experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GAM | PIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 6.08% | -3.16% |
Volatility (6M)Calculated over the trailing 6-month period | 8.99% | 19.02% | -10.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.90% | 21.30% | -10.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 17.47% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.63% | 17.47% | +0.16% |
Dividends
GAM vs. PIT - Dividend Comparison
GAM's dividend yield for the trailing twelve months is around 10.07%, more than PIT's 6.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAM General American Investors Company, Inc. | 10.07% | 11.32% | 8.82% | 6.17% | 4.15% | 1.38% | 6.72% | 6.49% | 9.67% | 9.56% | 10.20% | 3.60% |
PIT VanEck Commodity Strategy ETF | 6.31% | 8.92% | 3.59% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GAM and PIT have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIT has higher volatility (6.08%) compared to GAM (2.92%). In terms of maximum drawdown, GAM dropped -66.63% vs PIT's -12.27%.
PIT currently has the higher Sharpe Ratio (2.97 vs 2.72), 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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