GSG vs. CCRSX

Last updated Jun 4, 2026

GSG (iShares S&P GSCI Commodity-Indexed Trust) and CCRSX (Credit Suisse Trust Commodity Return Strategy Portfolio) are both Commodities funds. Over the past 10 years, GSG returned 7.69%/yr vs 6.04%/yr for CCRSX. Their correlation of 0.81 suggests significant overlap in exposure. GSG charges 0.75%/yr vs 1.05%/yr for CCRSX.

Performance

GSG vs. CCRSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P GSCI Commodity-Indexed Trust (GSG) and Credit Suisse Trust Commodity Return Strategy Portfolio (CCRSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSG achieves a 42.58% return, which is significantly higher than CCRSX's 27.42% return. Over the past 10 years, GSG has outperformed CCRSX with an annualized return of 7.69%, while CCRSX has yielded a comparatively lower 6.04% annualized return.

GSG

• 1D: 0.77%
• 1M: -4.83%
• YTD: 42.58%
• 6M: 41.06%
• 1Y: 51.52%
• 3Y*: 19.31%
• 5Y*: 15.74%
• 10Y*: 7.69%

CCRSX

• 1D: 0.35%
• 1M: -2.74%
• YTD: 27.42%
• 6M: 26.84%
• 1Y: 39.17%
• 3Y*: 15.98%
• 5Y*: 11.72%
• 10Y*: 6.04%

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

GSG vs. CCRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSG iShares S&P GSCI Commodity-Indexed Trust	42.58%	5.93%	8.52%	-5.51%	24.08%	38.77%	-23.94%	15.62%	-13.88%	3.89%
CCRSX Credit Suisse Trust Commodity Return Strategy Portfolio	27.42%	15.37%	4.86%	-8.88%	15.71%	28.00%	-1.49%	6.69%	-11.63%	-7.99%

Correlation

The correlation between GSG and CCRSX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jul 24, 2006	0.81

The correlation between GSG and CCRSX has been stable across timeframes, ranging from 0.78 to 0.81 - a consistent structural relationship.

Return for Risk

GSG vs. CCRSX — Risk / Return Rank

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

GSG

GSG Risk / Return Rank: 71
GSG Sharpe Ratio Rank: 67
GSG Sortino Ratio Rank: 60
GSG Omega Ratio Rank: 65
GSG Calmar Ratio Rank: 89
GSG Martin Ratio Rank: 75

CCRSX

CCRSX Risk / Return Rank: 70
CCRSX Sharpe Ratio Rank: 69
CCRSX Sortino Ratio Rank: 52
CCRSX Omega Ratio Rank: 60
CCRSX Calmar Ratio Rank: 93
CCRSX Martin Ratio Rank: 75

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.

GSG vs. CCRSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P GSCI Commodity-Indexed Trust (GSG) and Credit Suisse Trust Commodity Return Strategy Portfolio (CCRSX). 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.

	GSG	CCRSX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.43	-0.17
Sortino ratio: Return per unit of downside risk	2.88	3.04	-0.16
Omega ratio: Gain probability vs. loss probability	1.40	1.43	-0.03
Calmar ratio: Return relative to maximum drawdown	5.47	5.27	+0.21
Martin ratio: Return relative to average drawdown	14.39	14.18	+0.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSG vs. CCRSX - Sharpe Ratio Comparison

The current GSG Sharpe Ratio is 2.26, which is comparable to the CCRSX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of GSG and CCRSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GSG	CCRSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.43	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.05	+0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.04	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	-0.00	-0.09

Drawdowns

GSG vs. CCRSX - Drawdown Comparison

The maximum GSG drawdown since its inception was -89.62%, roughly equal to the maximum CCRSX drawdown of -93.56%. Use the drawdown chart below to compare losses from any high point for GSG and CCRSX.

Drawdown Indicators

	GSG	CCRSX	Difference
Max Drawdown Largest peak-to-trough decline	-89.62%	-93.56%	+3.94%
Max Drawdown (1Y) Largest decline over 1 year	-9.46%	-7.53%	-1.93%
Max Drawdown (3Y) Largest decline over 3 years	-14.94%	-11.56%	-3.38%
Max Drawdown (5Y) Largest decline over 5 years	-29.12%	-83.30%	+54.18%
Max Drawdown (10Y) Largest decline over 10 years	-57.64%	-83.30%	+25.66%
Current Drawdown Current decline from peak	-56.95%	-39.88%	-17.07%
Average Drawdown Average peak-to-trough decline	-63.71%	-51.08%	-12.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	2.79%	+0.80%

Volatility

GSG vs. CCRSX - Volatility Comparison

iShares S&P GSCI Commodity-Indexed Trust (GSG) has a higher volatility of 7.65% compared to Credit Suisse Trust Commodity Return Strategy Portfolio (CCRSX) at 5.32%. This indicates that GSG's price experiences larger fluctuations and is considered to be riskier than CCRSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSG	CCRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.65%	5.32%	+2.33%
Volatility (6M) Calculated over the trailing 6-month period	20.42%	14.26%	+6.16%
Volatility (1Y) Calculated over the trailing 1-year period	22.95%	16.45%	+6.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.61%	225.85%	-203.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.03%	159.90%	-137.87%

GSG vs. CCRSX - Expense Ratio Comparison

GSG has a 0.75% expense ratio, which is lower than CCRSX's 1.05% expense ratio.

Dividends

GSG vs. CCRSX - Dividend Comparison

GSG has not paid dividends to shareholders, while CCRSX's dividend yield for the trailing twelve months is around 10.88%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CCRSX Credit Suisse Trust Commodity Return Strategy Portfolio	10.88%	3.98%	2.95%	26.59%	18.97%	4.82%	5.51%	0.86%	2.91%
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%

Frequently Asked Questions

Can I hold both GSG and CCRSX in my portfolio?

GSG and CCRSX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSG or CCRSX?

GSG has higher volatility (7.65%) compared to CCRSX (5.32%). In terms of maximum drawdown, GSG dropped -89.62% vs CCRSX's -93.56%.

Which has better risk-adjusted returns?

CCRSX currently has the higher Sharpe Ratio (2.43 vs 2.26), 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.