GLIN vs. GSG
GLIN (VanEck Vectors India Growth Leaders ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - GLIN is a India Equities fund tracking the MarketGrader India All-Cap Growth Leaders Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, GLIN returned 1.49%/yr vs 7.40%/yr for GSG. At a 0.19 correlation, their price movements are largely independent. GLIN charges 0.82%/yr vs 0.75%/yr for GSG.
Performance
GLIN vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, GLIN achieves a -1.77% return, which is significantly lower than GSG's 32.35% return. Over the past 10 years, GLIN has underperformed GSG with an annualized return of 1.49%, while GSG has yielded a comparatively higher 7.40% annualized return.
GLIN
- 1D
- -1.34%
- 1M
- -0.18%
- 6M
- -1.34%
- YTD
- -1.77%
- 1Y
- -3.09%
- 3Y*
- 8.94%
- 5Y*
- 4.21%
- 10Y*
- 1.49%
GSG
- 1D
- 3.60%
- 1M
- -0.20%
- 6M
- 28.24%
- YTD
- 32.35%
- 1Y
- 34.57%
- 3Y*
- 14.41%
- 5Y*
- 13.83%
- 10Y*
- 7.40%
GLIN vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLIN VanEck Vectors India Growth Leaders ETF | -1.77% | -5.47% | 15.64% | 36.13% | -21.46% | 29.57% | -0.29% | -21.49% | -37.41% | 66.53% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.35% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between GLIN and GSG is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2010 | 0.19 |
The correlation between GLIN and GSG shifts across timeframes, from -0.30 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GLIN vs. GSG — Risk / Return Rank
GLIN
GSG
GLIN vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors India Growth Leaders ETF (GLIN) 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.
| GLIN | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.18 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.27 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 1.85 | -2.03 |
| Martin ratioReturn relative to average drawdown | -0.59 | 6.29 | -6.88 |
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Drawdowns
GLIN vs. GSG - Drawdown Comparison
The maximum GLIN drawdown since its inception was -79.36%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for GLIN and GSG.
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Drawdown Indicators
| GLIN | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.36% | -89.62% | +10.26% |
Max Drawdown (1Y)Largest decline over 1 year | -17.26% | -18.81% | +1.55% |
Max Drawdown (3Y)Largest decline over 3 years | -26.77% | -18.81% | -7.96% |
Max Drawdown (5Y)Largest decline over 5 years | -30.97% | -29.12% | -1.85% |
Max Drawdown (10Y)Largest decline over 10 years | -74.80% | -57.64% | -17.16% |
Current DrawdownCurrent decline from peak | -44.16% | -60.04% | +15.88% |
Average DrawdownAverage peak-to-trough decline | -50.91% | -63.69% | +12.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.23% | 5.51% | -0.28% |
Volatility
GLIN vs. GSG - Volatility Comparison
The current volatility for VanEck Vectors India Growth Leaders ETF (GLIN) is 5.79%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.35%. This indicates that GLIN 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
| GLIN | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.79% | 7.35% | -1.56% |
Volatility (6M)Calculated over the trailing 6-month period | 15.78% | 21.50% | -5.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.25% | 23.48% | -5.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.36% | 22.80% | -4.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.65% | 22.00% | +1.65% |
GLIN vs. GSG - Expense Ratio Comparison
GLIN has a 0.82% expense ratio, which is higher than GSG's 0.75% expense ratio.
Dividends
GLIN vs. GSG - Dividend Comparison
GLIN's dividend yield for the trailing twelve months is around 0.86%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLIN VanEck Vectors India Growth Leaders ETF | 0.86% | 0.84% | 3.58% | 0.96% | 1.70% | 0.00% | 0.24% | 1.42% | 0.12% | 0.10% | 1.39% | 3.11% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 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
GLIN and GSG have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (7.35%) compared to GLIN (5.79%). In terms of maximum drawdown, GLIN dropped -79.36% vs GSG's -89.62%.
On 10-year performance, GSG leads with 7.40% vs 1.49% for GLIN. On fees, GSG is cheaper at 0.75% per year. On volatility, GLIN has been the lower-risk option at 5.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GSG has performed better with a 7.40% return vs 1.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSG is cheaper with a 0.75% expense ratio, compared with 0.82% for GLIN.
GLIN has the higher dividend yield at 0.86%, compared with 0.00% for GSG.
GLIN is categorized as India Equities, while GSG is Commodities. GLIN tracks MarketGrader India All-Cap Growth Leaders Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.82% for GLIN and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.48 vs -0.17), 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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