GBIL vs. PIT

Last updated Jun 21, 2026

GBIL (Goldman Sachs Access Treasury 0-1 Year ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - GBIL is a Government Bonds fund tracking the FTSE US Treasury 0-1 Year Composite Select Index, while PIT is a Commodities fund actively managed by VanEck. GBIL is passively managed, while PIT is actively managed. Over the past 3 years, GBIL returned 4.61%/yr vs 18.65%/yr for PIT. At a correlation of -0.08, they often move in opposite directions. GBIL charges 0.12%/yr vs 0.55%/yr for PIT.

Performance

GBIL vs. PIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) and VanEck Commodity Strategy ETF (PIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GBIL achieves a 1.56% return, which is significantly lower than PIT's 28.27% return.

GBIL

• 1D: 0.03%
• 1M: 0.26%
• YTD: 1.56%
• 6M: 1.67%
• 1Y: 3.82%
• 3Y*: 4.61%
• 5Y*: 3.35%
• 10Y*: —

PIT

• 1D: 0.40%
• 1M: -10.27%
• YTD: 28.27%
• 6M: 29.77%
• 1Y: 39.38%
• 3Y*: 18.65%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GBIL vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GBIL Goldman Sachs Access Treasury 0-1 Year ETF	1.56%	4.12%	5.24%	4.91%	0.13%
PIT VanEck Commodity Strategy ETF	28.27%	21.63%	6.77%	-4.54%	1.67%

Correlation

The correlation between GBIL and PIT is -0.09, 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	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	-0.08

Return for Risk

GBIL vs. PIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GBIL

GBIL Risk / Return Rank: 100
GBIL Sharpe Ratio Rank: 100
GBIL Sortino Ratio Rank: 100
GBIL Omega Ratio Rank: 100
GBIL Calmar Ratio Rank: 100
GBIL Martin Ratio Rank: 100

PIT

PIT Risk / Return Rank: 57
PIT Sharpe Ratio Rank: 57
PIT Sortino Ratio Rank: 50
PIT Omega Ratio Rank: 55
PIT Calmar Ratio Rank: 60
PIT Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GBIL vs. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) 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.

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.

	GBIL	PIT	Difference
Sharpe ratio: Return per unit of total volatility	16.94	1.83	+15.12
Sortino ratio: Return per unit of downside risk	105.39	2.37	+103.03
Omega ratio: Gain probability vs. loss probability	43.14	1.33	+41.82
Calmar ratio: Return relative to maximum drawdown	193.82	2.87	+190.95
Martin ratio: Return relative to average drawdown	1,643.20	11.34	+1,631.86

GBIL vs. PIT - Sharpe Ratio Comparison

The current GBIL Sharpe Ratio is 16.94, which is higher than the PIT Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of GBIL and PIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GBIL vs. PIT - Drawdown Comparison

The maximum GBIL drawdown since its inception was -0.76%, smaller than the maximum PIT drawdown of -13.74%. Use the drawdown chart below to compare losses from any high point for GBIL and PIT.

Drawdown Indicators

	GBIL	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-0.76%	-13.74%	+12.98%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	-13.74%	+13.72%
Max Drawdown (3Y) Largest decline over 3 years	-0.76%	-13.74%	+12.98%
Max Drawdown (5Y) Largest decline over 5 years	-0.76%	—	—
Current Drawdown Current decline from peak	0.00%	-13.40%	+13.40%
Average Drawdown Average peak-to-trough decline	-0.04%	-4.06%	+4.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	3.48%	-3.48%

Volatility

GBIL vs. PIT - Volatility Comparison

The current volatility for Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) is 0.04%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 4.96%. This indicates that GBIL 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.

Volatility by Period

	GBIL	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.04%	4.96%	-4.92%
Volatility (6M) Calculated over the trailing 6-month period	0.13%	19.37%	-19.24%
Volatility (1Y) Calculated over the trailing 1-year period	0.23%	21.60%	-21.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.58%	17.50%	-16.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.47%	17.50%	-17.03%

GBIL vs. PIT - Expense Ratio Comparison

GBIL has a 0.12% expense ratio, which is lower than PIT's 0.55% expense ratio.

Dividends

GBIL vs. PIT - Dividend Comparison

GBIL's dividend yield for the trailing twelve months is around 3.74%, less than PIT's 6.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GBIL Goldman Sachs Access Treasury 0-1 Year ETF	3.74%	4.02%	4.93%	4.77%	1.37%	0.00%	0.81%	2.20%	1.70%	0.74%	0.11%
PIT VanEck Commodity Strategy ETF	6.95%	8.92%	3.59%	6.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GBIL and PIT in my portfolio?

GBIL and PIT have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GBIL or PIT?

PIT has higher volatility (4.96%) compared to GBIL (0.04%). In terms of maximum drawdown, GBIL dropped -0.76% vs PIT's -13.74%.

Which ETF is better, GBIL or PIT?

On 3-year performance, PIT leads with 18.65% vs 4.61% for GBIL. On fees, GBIL is cheaper at 0.12% per year. On volatility, GBIL has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GBIL or PIT?

Over the 3-year period, PIT has performed better with a 18.65% return vs 4.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GBIL or PIT?

GBIL is cheaper with a 0.12% expense ratio, compared with 0.55% for PIT.

Which ETF pays a higher dividend yield, GBIL or PIT?

PIT has the higher dividend yield at 6.95%, compared with 3.74% for GBIL.

What is the main difference between GBIL and PIT?

GBIL is categorized as Government Bonds, while PIT is Commodities. They also come from different issuers: Goldman Sachs and VanEck. Their fees differ too: 0.12% for GBIL and 0.55% for PIT.

Which has better risk-adjusted returns?

GBIL currently has the higher Sharpe Ratio (16.94 vs 1.83), 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.