GSG vs. COM
GSG (iShares S&P GSCI Commodity-Indexed Trust) and COM (Direxion Auspice Broad Commodity Strategy ETF) are both Commodities funds - GSG tracks the S&P GSCI Total Return Index while COM tracks the Auspice Broad Commodity ER Index. Both are passively managed. Over the past 5 years, GSG returned 15.74%/yr vs 8.28%/yr for COM. A 0.59 correlation means they provide meaningful diversification when combined. GSG charges 0.75%/yr vs 0.70%/yr for COM.
Performance
GSG vs. COM - Performance Comparison
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Returns By Period
In the year-to-date period, GSG achieves a 42.58% return, which is significantly higher than COM's 14.96% 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%
COM
- 1D
- -0.76%
- 1M
- -2.14%
- YTD
- 14.96%
- 6M
- 14.36%
- 1Y
- 22.41%
- 3Y*
- 7.16%
- 5Y*
- 8.28%
- 10Y*
- —
GSG vs. COM - 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% | 10.52% |
COM Direxion Auspice Broad Commodity Strategy ETF | 14.96% | 7.72% | 5.81% | -2.09% | 9.17% | 28.00% | 6.63% | -0.18% | -0.03% | -2.05% |
Correlation
The correlation between GSG and COM is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2017 | 0.59 |
The correlation between GSG and COM shifts across timeframes, from 0.59 (all time) to 0.70 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GSG vs. COM — Risk / Return Rank
GSG
COM
GSG vs. COM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P GSCI Commodity-Indexed Trust (GSG) and Direxion Auspice Broad Commodity Strategy ETF (COM). 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 | COM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.41 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 5.47 | 4.95 | +0.52 |
| Martin ratioReturn relative to average drawdown | 14.39 | 14.37 | +0.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GSG | COM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.26 | 2.16 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.87 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.09 | 0.72 | -0.81 |
Drawdowns
GSG vs. COM - Drawdown Comparison
The maximum GSG drawdown since its inception was -89.62%, which is greater than COM's maximum drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for GSG and COM.
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Drawdown Indicators
| GSG | COM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.62% | -15.95% | -73.67% |
Max Drawdown (1Y)Largest decline over 1 year | -9.46% | -4.55% | -4.91% |
Max Drawdown (3Y)Largest decline over 3 years | -14.94% | -8.50% | -6.44% |
Max Drawdown (5Y)Largest decline over 5 years | -29.12% | -14.02% | -15.10% |
Max Drawdown (10Y)Largest decline over 10 years | -57.64% | — | — |
Current DrawdownCurrent decline from peak | -56.95% | -4.55% | -52.40% |
Average DrawdownAverage peak-to-trough decline | -63.71% | -6.28% | -57.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 1.56% | +2.03% |
Volatility
GSG vs. COM - Volatility Comparison
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a higher volatility of 7.65% compared to Direxion Auspice Broad Commodity Strategy ETF (COM) at 4.04%. This indicates that GSG's price experiences larger fluctuations and is considered to be riskier than COM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSG | COM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.65% | 4.04% | +3.61% |
Volatility (6M)Calculated over the trailing 6-month period | 20.42% | 8.60% | +11.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.95% | 10.41% | +12.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.61% | 9.60% | +13.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.03% | 9.77% | +12.26% |
GSG vs. COM - Expense Ratio Comparison
GSG has a 0.75% expense ratio, which is higher than COM's 0.70% expense ratio.
Dividends
GSG vs. COM - Dividend Comparison
GSG has not paid dividends to shareholders, while COM's dividend yield for the trailing twelve months is around 2.46%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COM Direxion Auspice Broad Commodity Strategy ETF | 2.46% | 2.99% | 3.88% | 3.80% | 8.59% | 10.32% | 0.13% | 1.09% | 2.36% | 0.09% |
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% |
Frequently Asked Questions
GSG and COM have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (7.65%) compared to COM (4.04%). In terms of maximum drawdown, GSG dropped -89.62% vs COM's -15.95%.
On 5-year performance, GSG leads with 15.74% vs 8.28% for COM. On fees, COM is cheaper at 0.70% per year. On volatility, COM has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GSG has performed better with a 15.74% return vs 8.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COM is cheaper with a 0.70% expense ratio, compared with 0.75% for GSG.
COM has the higher dividend yield at 2.46%, compared with 0.00% for GSG.
GSG tracks S&P GSCI Total Return Index, while COM tracks Auspice Broad Commodity ER Index. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.75% for GSG and 0.70% for COM.
GSG currently has the higher Sharpe Ratio (2.26 vs 2.16), 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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