GRNB vs. PIT

Last updated Jun 23, 2026

GRNB (VanEck Green Bond ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - GRNB is a Global Bonds fund tracking the S&P Green Bond U.S. Dollar Select Index, while PIT is a Commodities fund actively managed by VanEck. GRNB is passively managed, while PIT is actively managed. Over the past 3 years, GRNB returned 5.19%/yr vs 19.51%/yr for PIT. At a correlation of -0.07, they often move in opposite directions. GRNB charges 0.20%/yr vs 0.55%/yr for PIT.

Performance

GRNB vs. PIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Green Bond ETF (GRNB) 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, GRNB achieves a 0.59% return, which is significantly lower than PIT's 27.31% return.

GRNB

• 1D: -0.16%
• 1M: 0.64%
• YTD: 0.59%
• 6M: 0.70%
• 1Y: 4.37%
• 3Y*: 5.19%
• 5Y*: 0.76%
• 10Y*: —

PIT

• 1D: -0.75%
• 1M: -10.60%
• YTD: 27.31%
• 6M: 26.74%
• 1Y: 38.33%
• 3Y*: 19.51%
• 5Y*: —
• 10Y*: —

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

GRNB vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GRNB VanEck Green Bond ETF	0.59%	7.09%	3.31%	7.08%	-1.00%
PIT VanEck Commodity Strategy ETF	27.31%	21.63%	6.77%	-4.54%	1.67%

Correlation

The correlation between GRNB and PIT is -0.29, 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	-0.29
Correlation (3Y) Calculated over the trailing 3-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	-0.07

Over the past year, the inverse relationship between GRNB and PIT has strengthened: their correlation has moved from -0.07 to -0.29, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

GRNB vs. PIT — Risk / Return Rank

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

GRNB

GRNB Risk / Return Rank: 42
GRNB Sharpe Ratio Rank: 43
GRNB Sortino Ratio Rank: 44
GRNB Omega Ratio Rank: 44
GRNB Calmar Ratio Rank: 36
GRNB Martin Ratio Rank: 42

PIT

PIT Risk / Return Rank: 55
PIT Sharpe Ratio Rank: 54
PIT Sortino Ratio Rank: 48
PIT Omega Ratio Rank: 52
PIT Calmar Ratio Rank: 57
PIT Martin Ratio Rank: 62

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.

GRNB vs. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Green Bond ETF (GRNB) 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.

	GRNB	PIT	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.78	-0.31
Sortino ratio: Return per unit of downside risk	2.15	2.32	-0.16
Omega ratio: Gain probability vs. loss probability	1.28	1.32	-0.04
Calmar ratio: Return relative to maximum drawdown	1.75	2.74	-0.99
Martin ratio: Return relative to average drawdown	6.74	10.88	-4.14

GRNB vs. PIT - Sharpe Ratio Comparison

The current GRNB Sharpe Ratio is 1.47, which is comparable to the PIT Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of GRNB 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

GRNB vs. PIT - Drawdown Comparison

The maximum GRNB drawdown since its inception was -18.08%, which is greater than PIT's maximum drawdown of -14.05%. Use the drawdown chart below to compare losses from any high point for GRNB and PIT.

Drawdown Indicators

	GRNB	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-18.08%	-14.05%	-4.03%
Max Drawdown (1Y) Largest decline over 1 year	-2.51%	-14.05%	+11.54%
Max Drawdown (3Y) Largest decline over 3 years	-4.24%	-14.05%	+9.81%
Max Drawdown (5Y) Largest decline over 5 years	-17.94%	—	—
Current Drawdown Current decline from peak	-0.41%	-14.05%	+13.64%
Average Drawdown Average peak-to-trough decline	-4.56%	-4.07%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	3.59%	-2.94%

Volatility

GRNB vs. PIT - Volatility Comparison

The current volatility for VanEck Green Bond ETF (GRNB) is 0.81%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 4.67%. This indicates that GRNB 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

	GRNB	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.81%	4.67%	-3.86%
Volatility (6M) Calculated over the trailing 6-month period	2.40%	19.36%	-16.96%
Volatility (1Y) Calculated over the trailing 1-year period	2.99%	21.66%	-18.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.92%	17.50%	-12.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.87%	17.50%	-12.63%

GRNB vs. PIT - Expense Ratio Comparison

GRNB has a 0.20% expense ratio, which is lower than PIT's 0.55% expense ratio.

Dividends

GRNB vs. PIT - Dividend Comparison

GRNB's dividend yield for the trailing twelve months is around 4.23%, less than PIT's 7.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GRNB VanEck Green Bond ETF	4.23%	4.18%	3.83%	3.17%	2.60%	1.97%	2.24%	1.79%	1.21%	1.09%
PIT VanEck Commodity Strategy ETF	7.00%	8.92%	3.59%	6.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GRNB and PIT in my portfolio?

GRNB and PIT have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GRNB or PIT?

PIT has higher volatility (4.67%) compared to GRNB (0.81%). In terms of maximum drawdown, GRNB dropped -18.08% vs PIT's -14.05%.

Which ETF is better, GRNB or PIT?

On 3-year performance, PIT leads with 19.51% vs 5.19% for GRNB. On fees, GRNB is cheaper at 0.20% per year. On volatility, GRNB has been the lower-risk option at 0.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GRNB or PIT?

Over the 3-year period, PIT has performed better with a 19.51% return vs 5.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GRNB or PIT?

GRNB is cheaper with a 0.20% expense ratio, compared with 0.55% for PIT.

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

PIT has the higher dividend yield at 7.00%, compared with 4.23% for GRNB.

What is the main difference between GRNB and PIT?

GRNB is categorized as Global Bonds, while PIT is Commodities. Their fees differ too: 0.20% for GRNB and 0.55% for PIT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.78 vs 1.47), 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.