GSG vs. GSWO
GSG (iShares S&P GSCI Commodity-Indexed Trust) and GSWO (Goldman Sachs ActiveBeta World Equity ETF) are both exchange-traded funds - GSG is a Commodities fund tracking the S&P GSCI Total Return Index, while GSWO is a Global Equities fund tracking the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, GSG returned 15.32%/yr vs 16.39%/yr for GSWO. Their 0.07 correlation means their historical movements had little consistent relationship. GSG charges 0.75%/yr vs 0.25%/yr for GSWO.
Performance
GSG vs. GSWO - Performance Comparison
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Returns By Period
In the year-to-date period, GSG achieves a 42.11% return, which is significantly higher than GSWO's 9.77% return.
GSG
- 1D
- -1.12%
- 1M
- 13.47%
- 6M
- 32.35%
- YTD
- 42.11%
- 1Y
- 46.16%
- 3Y*
- 15.32%
- 5Y*
- 15.35%
- 10Y*
- 8.71%
- ALL TIME*
- -2.03%
GSWO
- 1D
- 0.17%
- 1M
- 0.80%
- 6M
- 8.66%
- YTD
- 9.77%
- 1Y
- 15.09%
- 3Y*
- 16.39%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.36M | $16.94M | $27.13M | |
| $3.06M | $3.14M | $3.93M |
GSG vs. GSWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.11% | 5.93% | 8.52% | -5.51% | -0.28% |
GSWO Goldman Sachs ActiveBeta World Equity ETF | 9.77% | 18.97% | 15.29% | 16.28% | -6.15% |
Correlation
The correlation between GSG and GSWO is -0.22, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.22 |
Correlation (3Y) Balances recent behavior with more history. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.07 |
The correlation between GSG and GSWO shifts across timeframes, from -0.22 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GSG vs. GSWO — Risk / Return Rank
GSG
GSWO
GSG vs. GSWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P GSCI Commodity-Indexed Trust (GSG) and Goldman Sachs ActiveBeta World Equity ETF (GSWO). 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 | GSWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.24 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 1.72 | +0.68 |
| Martin ratioReturn relative to average drawdown | 7.82 | 7.82 | 0.00 |
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Drawdowns
GSG vs. GSWO - Drawdown Comparison
The maximum GSG drawdown since its inception was -89.62%, which is greater than GSWO's maximum drawdown of -17.77%. Use the drawdown chart below to compare losses from any high point for GSG and GSWO.
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Drawdown Indicators
| GSG | GSWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.62% | -17.77% | -71.85% |
Max Drawdown (1Y)Largest decline over 1 year | -18.81% | -8.93% | -9.88% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | -9.97% | -8.84% |
Max Drawdown (5Y)Largest decline over 5 years | -29.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -57.64% | — | — |
Current DrawdownCurrent decline from peak | -57.10% | -1.97% | -55.13% |
Average DrawdownAverage peak-to-trough decline | -63.68% | -3.19% | -60.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.75% | 1.95% | +3.80% |
Volatility
GSG vs. GSWO - Volatility Comparison
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a higher volatility of 6.47% compared to Goldman Sachs ActiveBeta World Equity ETF (GSWO) at 3.09%. This indicates that GSG's price experiences larger fluctuations and is considered to be riskier than GSWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSG | GSWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.47% | 3.09% | +3.38% |
Volatility (6M)Calculated over the trailing 6-month period | 21.68% | 10.30% | +11.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.69% | 11.66% | +12.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.75% | 13.02% | +9.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.01% | 13.02% | +8.99% |
GSG vs. GSWO - Expense Ratio Comparison
GSG has a 0.75% expense ratio, which is higher than GSWO's 0.25% expense ratio.
Dividends
GSG vs. GSWO - Dividend Comparison
GSG has not paid dividends to shareholders, while GSWO's dividend yield for the trailing twelve months is around 1.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GSWO Goldman Sachs ActiveBeta World Equity ETF | 1.55% | 1.74% | 1.75% | 2.06% | 1.73% |
Frequently Asked Questions
GSG and GSWO have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (6.47%) compared to GSWO (3.09%). In terms of maximum drawdown, GSG dropped -89.62% vs GSWO's -17.77%.
On 3-year performance, GSWO leads with 16.39% vs 15.32% for GSG. On fees, GSWO is cheaper at 0.25% per year. On volatility, GSWO has been the lower-risk option at 3.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GSWO has performed better with a 16.39% return vs 15.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSWO is cheaper with a 0.25% expense ratio, compared with 0.75% for GSG.
GSWO has the higher dividend yield at 1.55%, compared with 0.00% for GSG.
GSG is categorized as Commodities, while GSWO is Global Equities. GSG tracks S&P GSCI Total Return Index, while GSWO tracks Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.75% for GSG and 0.25% for GSWO.
GSG currently has the higher Sharpe Ratio (1.90 vs 1.31), 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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