GBIL vs. USCI
GBIL (Goldman Sachs Access Treasury 0-1 Year ETF) and USCI (United States Commodity Index Fund) are both exchange-traded funds - GBIL is a Government Bonds fund tracking the FTSE US Treasury 0-1 Year Composite Select Index, while USCI is a Commodities fund tracking the SummerHaven Dynamic Commodity Index Total Return. Both are passively managed. Over the past 5 years, GBIL returned 3.43%/yr vs 19.79%/yr for USCI. Their -0.06 correlation means they have often moved in opposite directions in the past. GBIL charges 0.12%/yr vs 1.03%/yr for USCI.
Performance
GBIL vs. USCI - Performance Comparison
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Returns By Period
In the year-to-date period, GBIL achieves a 2.00% return, which is significantly lower than USCI's 27.88% return.
GBIL
- 1D
- 0.01%
- 1M
- 0.28%
- 6M
- 1.72%
- YTD
- 2.00%
- 1Y
- 3.74%
- 3Y*
- 4.54%
- 5Y*
- 3.43%
- 10Y*
- —
- ALL TIME*
- 2.30%
USCI
- 1D
- -1.75%
- 1M
- 7.73%
- 6M
- 23.25%
- YTD
- 27.88%
- 1Y
- 35.81%
- 3Y*
- 19.39%
- 5Y*
- 19.79%
- 10Y*
- 8.92%
- ALL TIME*
- 4.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $54.62M | $52.46M | $69.99M | |
| $1.26M | $1.23M | $1.84M |
GBIL vs. USCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 2.00% | 4.12% | 5.24% | 4.91% | 1.05% | -0.08% | 0.79% | 2.31% | 1.78% | 0.69% |
USCI United States Commodity Index Fund | 27.88% | 17.63% | 17.24% | 0.00% | 29.47% | 33.07% | -11.47% | -1.68% | -11.76% | 6.32% |
Correlation
The correlation between GBIL and USCI is -0.13, 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. | -0.13 |
Correlation (3Y) Balances recent behavior with more history. | -0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2016 | -0.06 |
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Return for Risk
GBIL vs. USCI — Risk / Return Rank
GBIL
USCI
GBIL vs. USCI - 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 United States Commodity Index Fund (USCI). 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 | USCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +16.01 | ||
| Sortino ratioReturn per unit of downside risk | +147.54 | ||
| Omega ratioGain probability vs. loss probability | 92.87 | 1.36 | +91.52 |
| Calmar ratioReturn relative to maximum drawdown | 187.90 | 3.22 | +184.69 |
| Martin ratioReturn relative to average drawdown | 2,250.52 | 10.27 | +2,240.26 |
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Drawdowns
GBIL vs. USCI - Drawdown Comparison
The maximum GBIL drawdown since its inception was -0.76%, smaller than the maximum USCI drawdown of -66.41%. Use the drawdown chart below to compare losses from any high point for GBIL and USCI.
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Drawdown Indicators
| GBIL | USCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.76% | -66.41% | +65.65% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -11.19% | +11.17% |
Max Drawdown (3Y)Largest decline over 3 years | -0.76% | -12.01% | +11.25% |
Max Drawdown (5Y)Largest decline over 5 years | -0.76% | -18.84% | +18.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.82% | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.57% | +3.57% |
Average DrawdownAverage peak-to-trough decline | -0.04% | -29.26% | +29.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 3.50% | -3.50% |
Volatility
GBIL vs. USCI - Volatility Comparison
The current volatility for Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) is 0.06%, while United States Commodity Index Fund (USCI) has a volatility of 5.70%. This indicates that GBIL experiences smaller price fluctuations and is considered to be less risky than USCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBIL | USCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 5.70% | -5.64% |
Volatility (6M)Calculated over the trailing 6-month period | 0.14% | 13.93% | -13.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.21% | 17.19% | -16.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 18.44% | -17.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.47% | 15.93% | -15.46% |
GBIL vs. USCI - Expense Ratio Comparison
GBIL has a 0.12% expense ratio, which is lower than USCI's 1.03% expense ratio.
Dividends
GBIL vs. USCI - Dividend Comparison
GBIL's dividend yield for the trailing twelve months is around 3.68%, while USCI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 3.68% | 4.02% | 4.93% | 4.77% | 1.37% | 0.00% | 0.81% | 2.20% | 1.70% | 0.74% | 0.11% |
USCI United States Commodity Index Fund | 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
GBIL and USCI have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USCI has higher volatility (5.70%) compared to GBIL (0.06%). In terms of maximum drawdown, GBIL dropped -0.76% vs USCI's -66.41%.
On 5-year performance, USCI leads with 19.79% vs 3.43% for GBIL. On fees, GBIL is cheaper at 0.12% per year. On volatility, GBIL has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USCI has performed better with a 19.79% return vs 3.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GBIL is cheaper with a 0.12% expense ratio, compared with 1.03% for USCI.
GBIL has the higher dividend yield at 3.68%, compared with 0.00% for USCI.
GBIL is categorized as Government Bonds, while USCI is Commodities. GBIL tracks FTSE US Treasury 0-1 Year Composite Select Index, while USCI tracks SummerHaven Dynamic Commodity Index Total Return. They also come from different issuers: Goldman Sachs and USCF. Their fees differ too: 0.12% for GBIL and 1.03% for USCI.
GBIL currently has the higher Sharpe Ratio (18.10 vs 2.10), 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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