GIND vs. GSG
GIND (Goldman Sachs India Equity ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - GIND is a India Equities fund actively managed by Goldman Sachs, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. GIND is actively managed, while GSG is passively managed. Over the past year, GIND returned -4.06% vs 36.06% for GSG. Their -0.29 correlation means they have often moved in opposite directions in the past. Both charge a 0.75% expense ratio.
Performance
GIND vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, GIND achieves a -4.76% return, which is significantly lower than GSG's 32.05% return.
GIND
- 1D
- 1.00%
- 1M
- 2.45%
- 6M
- -1.35%
- YTD
- -4.76%
- 1Y
- -4.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.22%
GSG
- 1D
- -2.34%
- 1M
- 7.33%
- 6M
- 21.51%
- YTD
- 32.05%
- 1Y
- 36.06%
- 3Y*
- 12.37%
- 5Y*
- 13.92%
- 10Y*
- 7.99%
- ALL TIME*
- -2.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $322.48K | $247.32K | $253.29K | |
| $18.82M | $16.77M | $25.29M |
GIND vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GIND Goldman Sachs India Equity ETF | -4.76% | 4.70% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.05% | 0.61% |
Correlation
The correlation between GIND and GSG is -0.38, 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. | -0.38 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025 | -0.29 |
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Return for Risk
GIND vs. GSG — Risk / Return Rank
GIND
GSG
GIND vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs India Equity ETF (GIND) 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.
| GIND | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -2.27 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.26 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 1.93 | -2.11 |
| Martin ratioReturn relative to average drawdown | -0.42 | 6.13 | -6.55 |
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Drawdowns
GIND vs. GSG - Drawdown Comparison
The maximum GIND drawdown since its inception was -22.97%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for GIND and GSG.
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Drawdown Indicators
| GIND | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.97% | -89.62% | +66.65% |
Max Drawdown (1Y)Largest decline over 1 year | -21.90% | -18.81% | -3.09% |
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 | -9.71% | -60.13% | +50.42% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -63.67% | +56.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.75% | 5.90% | +3.85% |
Volatility
GIND vs. GSG - Volatility Comparison
The current volatility for Goldman Sachs India Equity ETF (GIND) is 5.04%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 9.06%. This indicates that GIND 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
| GIND | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 9.06% | -4.02% |
Volatility (6M)Calculated over the trailing 6-month period | 14.43% | 22.00% | -7.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.95% | 24.45% | -7.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.07% | 22.90% | -5.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.07% | 22.09% | -5.02% |
GIND vs. GSG - Expense Ratio Comparison
Both GIND and GSG have an expense ratio of 0.75%.
Dividends
GIND vs. GSG - Dividend Comparison
Neither GIND nor GSG has paid dividends to shareholders.
Frequently Asked Questions
GIND and GSG have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (9.06%) compared to GIND (5.04%). In terms of maximum drawdown, GIND dropped -22.97% vs GSG's -89.62%.
On 1-year performance, GSG leads with 36.06% vs -4.06% for GIND. Both ETFs have the same 0.75% expense ratio. On volatility, GIND has been the lower-risk option at 5.04%. 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 36.06% return vs -4.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GIND and GSG have the same expense ratio: 0.75% per year.
GIND and GSG have nearly identical dividend yields, around 0.00%.
GIND is categorized as India Equities, while GSG is Commodities. They also come from different issuers: Goldman Sachs and iShares.
GSG currently has the higher Sharpe Ratio (1.48 vs -0.24), 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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