GCCIX vs. DCMSX

Last updated Aug 1, 2026

GCCIX (Goldman Sachs Commodity Strategy Fund) and DCMSX (DFA Commodity Strategy Portfolio) are both Commodities funds. Over the past 10 years, GCCIX returned 6.18%/yr vs 7.74%/yr for DCMSX. Their correlation of 0.86 means they have usually moved in the same direction. GCCIX charges 0.59%/yr vs 0.31%/yr for DCMSX.

Performance

GCCIX vs. DCMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Commodity Strategy Fund (GCCIX) and DFA Commodity Strategy Portfolio (DCMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GCCIX achieves a 16.87% return, which is significantly lower than DCMSX's 26.50% return. Over the past 10 years, GCCIX has underperformed DCMSX with an annualized return of 6.18%, while DCMSX has yielded a comparatively higher 7.74% annualized return.

GCCIX

• 1D: -0.10%
• 1M: 7.07%
• 6M: 9.10%
• YTD: 16.87%
• 1Y: 29.14%
• 3Y*: 10.41%
• 5Y*: 9.36%
• 10Y*: 6.18%
• ALL TIME*: -3.39%

DCMSX

• 1D: -0.17%
• 1M: 6.99%
• 6M: 12.68%
• YTD: 26.50%
• 1Y: 39.23%
• 3Y*: 13.08%
• 5Y*: 10.75%
• 10Y*: 7.74%
• ALL TIME*: 1.37%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DCMSX DFA Commodity Strategy Portfolio	$0.00	$0.00	$0.00
GCCIX Goldman Sachs Commodity Strategy Fund	$0.00	$0.00	$0.00

GCCIX vs. DCMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GCCIX Goldman Sachs Commodity Strategy Fund	16.87%	15.45%	5.92%	-9.65%	15.70%	33.42%	-23.01%	16.75%	-14.89%	4.31%
DCMSX DFA Commodity Strategy Portfolio	26.50%	15.15%	5.90%	-9.14%	11.36%	33.54%	-1.78%	7.96%	-11.22%	2.73%

Correlation

The correlation between GCCIX and DCMSX is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.88
Correlation (All Time) Calculated using the full available price history since Nov 9, 2010	0.86

The correlation between GCCIX and DCMSX has been stable across timeframes, ranging from 0.86 to 0.96 - a consistent structural relationship.

Return for Risk

GCCIX vs. DCMSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GCCIX

GCCIX Risk / Return Rank: 66
GCCIX Sharpe Ratio Rank: 76
GCCIX Sortino Ratio Rank: 69
GCCIX Omega Ratio Rank: 72
GCCIX Calmar Ratio Rank: 64
GCCIX Martin Ratio Rank: 52

DCMSX

DCMSX Risk / Return Rank: 80
DCMSX Sharpe Ratio Rank: 87
DCMSX Sortino Ratio Rank: 81
DCMSX Omega Ratio Rank: 81
DCMSX Calmar Ratio Rank: 80
DCMSX Martin Ratio Rank: 72

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GCCIX vs. DCMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Commodity Strategy Fund (GCCIX) and DFA Commodity Strategy Portfolio (DCMSX). 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.

	GCCIX	DCMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.14	-0.35
Sortino ratio: Return per unit of downside risk	2.34	2.79	-0.45
Omega ratio: Gain probability vs. loss probability	1.32	1.37	-0.05
Calmar ratio: Return relative to maximum drawdown	2.15	2.61	-0.46
Martin ratio: Return relative to average drawdown	7.09	8.68	-1.58

GCCIX vs. DCMSX - Sharpe Ratio Comparison

The current GCCIX Sharpe Ratio is 1.79, which is comparable to the DCMSX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of GCCIX and DCMSX, 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

GCCIX vs. DCMSX - Drawdown Comparison

The maximum GCCIX drawdown since its inception was -90.80%, which is greater than DCMSX's maximum drawdown of -60.94%. Use the drawdown chart below to compare losses from any high point for GCCIX and DCMSX.

Drawdown Indicators

	GCCIX	DCMSX	Difference
Max Drawdown Largest peak-to-trough decline	-90.80%	-60.94%	-29.86%
Max Drawdown (1Y) Largest decline over 1 year	-12.50%	-13.81%	+1.31%
Max Drawdown (3Y) Largest decline over 3 years	-12.50%	-13.81%	+1.31%
Max Drawdown (5Y) Largest decline over 5 years	-28.78%	-27.93%	-0.85%
Max Drawdown (10Y) Largest decline over 10 years	-57.76%	-32.52%	-25.24%
Current Drawdown Current decline from peak	-71.04%	-6.91%	-64.13%
Average Drawdown Average peak-to-trough decline	-69.43%	-31.55%	-37.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	4.20%	-0.35%

Volatility

GCCIX vs. DCMSX - Volatility Comparison

Goldman Sachs Commodity Strategy Fund (GCCIX) has a higher volatility of 5.00% compared to DFA Commodity Strategy Portfolio (DCMSX) at 4.50%. This indicates that GCCIX's price experiences larger fluctuations and is considered to be riskier than DCMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GCCIX	DCMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	4.50%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	12.67%	13.81%	-1.14%
Volatility (1Y) Calculated over the trailing 1-year period	15.06%	16.82%	-1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.51%	16.29%	+2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.89%	14.47%	+5.42%

GCCIX vs. DCMSX - Expense Ratio Comparison

GCCIX has a 0.59% expense ratio, which is higher than DCMSX's 0.31% expense ratio.

Dividends

GCCIX vs. DCMSX - Dividend Comparison

GCCIX's dividend yield for the trailing twelve months is around 14.11%, more than DCMSX's 8.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DCMSX DFA Commodity Strategy Portfolio	8.43%	10.75%	2.83%	2.52%	7.46%	49.44%	0.37%	1.51%	1.63%	3.09%	0.47%	0.15%
GCCIX Goldman Sachs Commodity Strategy Fund	14.11%	16.09%	4.08%	4.20%	10.41%	16.46%	0.36%	10.81%	1.47%	5.88%	0.84%	0.36%

Frequently Asked Questions

Can I hold both GCCIX and DCMSX in my portfolio?

With a correlation of 0.96, GCCIX and DCMSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GCCIX or DCMSX?

GCCIX has higher volatility (5.00%) compared to DCMSX (4.50%). In terms of maximum drawdown, GCCIX dropped -90.80% vs DCMSX's -60.94%.

Which has better risk-adjusted returns?

DCMSX currently has the higher Sharpe Ratio (2.14 vs 1.79), 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.