GSG vs. BRCYX
GSG (iShares S&P GSCI Commodity-Indexed Trust) and BRCYX (Invesco Balanced-Risk Commodity Strategy Fund) are both Commodities funds. Over the past 10 years, GSG returned 8.24%/yr vs 7.61%/yr for BRCYX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. GSG charges 0.75%/yr vs 1.06%/yr for BRCYX.
Performance
GSG vs. BRCYX - Performance Comparison
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Returns By Period
In the year-to-date period, GSG achieves a 35.21% return, which is significantly higher than BRCYX's 26.35% return. Over the past 10 years, GSG has outperformed BRCYX with an annualized return of 8.24%, while BRCYX has yielded a comparatively lower 7.61% annualized return.
GSG
- 1D
- -2.68%
- 1M
- 9.90%
- 6M
- 27.47%
- YTD
- 35.21%
- 1Y
- 38.52%
- 3Y*
- 13.26%
- 5Y*
- 14.69%
- 10Y*
- 8.24%
- ALL TIME*
- -2.27%
BRCYX
- 1D
- -0.23%
- 1M
- 7.20%
- 6M
- 20.03%
- YTD
- 26.35%
- 1Y
- 42.93%
- 3Y*
- 15.29%
- 5Y*
- 11.09%
- 10Y*
- 7.61%
- ALL TIME*
- 2.43%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $17.98M | $16.40M | $25.53M |
GSG vs. BRCYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 35.21% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
BRCYX Invesco Balanced-Risk Commodity Strategy Fund | 26.35% | 18.82% | 5.70% | -3.15% | 7.94% | 19.54% | 7.89% | 4.49% | -12.03% | 4.88% |
Correlation
The correlation between GSG and BRCYX is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2010 | 0.75 |
The correlation between GSG and BRCYX has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.
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Return for Risk
GSG vs. BRCYX — Risk / Return Rank
GSG
BRCYX
GSG vs. BRCYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P GSCI Commodity-Indexed Trust (GSG) and Invesco Balanced-Risk Commodity Strategy Fund (BRCYX). 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.
| GSG | BRCYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.40 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 2.47 | -0.42 |
| Martin ratioReturn relative to average drawdown | 6.61 | 8.13 | -1.53 |
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Drawdowns
GSG vs. BRCYX - Drawdown Comparison
The maximum GSG drawdown since its inception was -89.62%, which is greater than BRCYX's maximum drawdown of -60.05%. Use the drawdown chart below to compare losses from any high point for GSG and BRCYX.
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Drawdown Indicators
| GSG | BRCYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.62% | -60.05% | -29.57% |
Max Drawdown (1Y)Largest decline over 1 year | -18.81% | -17.02% | -1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | -17.02% | -1.79% |
Max Drawdown (5Y)Largest decline over 5 years | -29.12% | -20.42% | -8.70% |
Max Drawdown (10Y)Largest decline over 10 years | -57.64% | -38.09% | -19.55% |
Current DrawdownCurrent decline from peak | -59.18% | -9.35% | -49.83% |
Average DrawdownAverage peak-to-trough decline | -63.67% | -27.04% | -36.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.85% | 5.16% | +0.69% |
Volatility
GSG vs. BRCYX - Volatility Comparison
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a higher volatility of 8.75% compared to Invesco Balanced-Risk Commodity Strategy Fund (BRCYX) at 4.24%. This indicates that GSG's price experiences larger fluctuations and is considered to be riskier than BRCYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSG | BRCYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.75% | 4.24% | +4.51% |
Volatility (6M)Calculated over the trailing 6-month period | 22.27% | 15.57% | +6.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.37% | 18.23% | +6.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.89% | 15.76% | +7.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.07% | 14.32% | +7.75% |
GSG vs. BRCYX - Expense Ratio Comparison
GSG has a 0.75% expense ratio, which is lower than BRCYX's 1.06% expense ratio.
Dividends
GSG vs. BRCYX - Dividend Comparison
GSG has not paid dividends to shareholders, while BRCYX's dividend yield for the trailing twelve months is around 10.85%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BRCYX Invesco Balanced-Risk Commodity Strategy Fund | 10.85% | 13.71% | 4.95% | 3.71% | 9.93% | 16.64% | 0.00% | 0.91% | 0.25% | 0.01% | 2.74% |
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% |
Frequently Asked Questions
GSG and BRCYX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (8.75%) compared to BRCYX (4.24%). In terms of maximum drawdown, GSG dropped -89.62% vs BRCYX's -60.05%.
BRCYX currently has the higher Sharpe Ratio (2.31 vs 1.59), 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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