GSG vs. COMT
GSG (iShares S&P GSCI Commodity-Indexed Trust) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both Commodities funds from iShares - GSG tracks the S&P GSCI Total Return Index while COMT tracks the S&P GSCI Dynamic Roll (USD) Total Return Index. Both are passively managed. Over the past 10 years, GSG returned 6.69%/yr vs 8.06%/yr for COMT. Their correlation of 0.93 suggests significant overlap in exposure. GSG charges 0.75%/yr vs 0.48%/yr for COMT.
Performance
GSG vs. COMT - Performance Comparison
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Returns By Period
In the year-to-date period, GSG achieves a 26.84% return, which is significantly higher than COMT's 25.05% return. Over the past 10 years, GSG has underperformed COMT with an annualized return of 6.69%, while COMT has yielded a comparatively higher 8.06% annualized return.
GSG
- 1D
- -0.95%
- 1M
- -12.03%
- YTD
- 26.84%
- 6M
- 26.40%
- 1Y
- 23.99%
- 3Y*
- 14.41%
- 5Y*
- 13.07%
- 10Y*
- 6.69%
COMT
- 1D
- -0.76%
- 1M
- -11.08%
- YTD
- 25.05%
- 6M
- 25.05%
- 1Y
- 21.95%
- 3Y*
- 12.36%
- 5Y*
- 11.04%
- 10Y*
- 8.06%
GSG vs. COMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 26.84% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 25.05% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
Correlation
The correlation between GSG and COMT is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.93 |
The correlation between GSG and COMT has been stable across timeframes, ranging from 0.93 to 0.99 - a consistent structural relationship.
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Return for Risk
GSG vs. COMT — Risk / Return Rank
GSG
COMT
GSG vs. COMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P GSCI Commodity-Indexed Trust (GSG) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). 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 | COMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.19 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 1.49 | +0.03 |
| Martin ratioReturn relative to average drawdown | 6.22 | 6.26 | -0.04 |
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Drawdowns
GSG vs. COMT - Drawdown Comparison
The maximum GSG drawdown since its inception was -89.62%, which is greater than COMT's maximum drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for GSG and COMT.
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Drawdown Indicators
| GSG | COMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.62% | -51.89% | -37.73% |
Max Drawdown (1Y)Largest decline over 1 year | -15.88% | -14.78% | -1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -15.88% | -14.78% | -1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -29.12% | -29.00% | -0.12% |
Max Drawdown (10Y)Largest decline over 10 years | -57.64% | -39.22% | -18.42% |
Current DrawdownCurrent decline from peak | -61.70% | -14.78% | -46.92% |
Average DrawdownAverage peak-to-trough decline | -63.69% | -24.01% | -39.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 4.16% | +0.30% |
Volatility
GSG vs. COMT - Volatility Comparison
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a higher volatility of 5.46% compared to iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) at 5.01%. This indicates that GSG's price experiences larger fluctuations and is considered to be riskier than COMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSG | COMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.46% | 5.01% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 20.81% | 19.22% | +1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.19% | 21.47% | +1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.66% | 21.12% | +1.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.03% | 18.89% | +3.14% |
GSG vs. COMT - Expense Ratio Comparison
GSG has a 0.75% expense ratio, which is higher than COMT's 0.48% expense ratio.
Dividends
GSG vs. COMT - Dividend Comparison
GSG has not paid dividends to shareholders, while COMT's dividend yield for the trailing twelve months is around 6.19%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 6.19% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
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
With a correlation of 0.99, GSG and COMT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GSG has higher volatility (5.46%) compared to COMT (5.01%). In terms of maximum drawdown, GSG dropped -89.62% vs COMT's -51.89%.
On 10-year performance, COMT leads with 8.06% vs 6.69% for GSG. On fees, COMT is cheaper at 0.48% per year. On volatility, COMT has been the lower-risk option at 5.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, COMT has performed better with a 8.06% return vs 6.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 0.75% for GSG.
COMT has the higher dividend yield at 6.19%, compared with 0.00% for GSG.
GSG tracks S&P GSCI Total Return Index, while COMT tracks S&P GSCI Dynamic Roll (USD) Total Return Index. Their fees differ too: 0.75% for GSG and 0.48% for COMT.
GSG currently has the higher Sharpe Ratio (1.04 vs 1.03), 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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