GSG vs. IBIT
GSG (iShares S&P GSCI Commodity-Indexed Trust) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - GSG is a Commodities fund tracking the S&P GSCI Total Return Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, GSG returned 38.52% vs -43.69% for IBIT. Their 0.07 correlation means their historical movements had little consistent relationship. GSG charges 0.75%/yr vs 0.25%/yr for IBIT.
Performance
GSG vs. IBIT - 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 IBIT's -27.17% 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%
IBIT
- 1D
- 1.46%
- 1M
- 3.70%
- 6M
- -18.23%
- YTD
- -27.17%
- 1Y
- -43.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $17.98M | $16.40M | $25.53M | |
| $1.33B | $1.34B | $1.65B |
GSG vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 35.21% | 5.93% | 8.74% |
IBIT iShares Bitcoin Trust ETF | -27.17% | -6.41% | 89.87% |
Correlation
The correlation between GSG and IBIT is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.07 |
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Return for Risk
GSG vs. IBIT — Risk / Return Rank
GSG
IBIT
GSG vs. IBIT - 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 Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.58 | ||
| Sortino ratioReturn per unit of downside risk | +3.61 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.84 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | -0.82 | +2.88 |
| Martin ratioReturn relative to average drawdown | 6.61 | -1.26 | +7.86 |
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Drawdowns
GSG vs. IBIT - Drawdown Comparison
The maximum GSG drawdown since its inception was -89.62%, which is greater than IBIT's maximum drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for GSG and IBIT.
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Drawdown Indicators
| GSG | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.62% | -53.30% | -36.32% |
Max Drawdown (1Y)Largest decline over 1 year | -18.81% | -53.30% | +34.49% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | — | — |
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 | -59.18% | -49.28% | -9.90% |
Average DrawdownAverage peak-to-trough decline | -63.67% | -18.29% | -45.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.85% | 34.80% | -28.95% |
Volatility
GSG vs. IBIT - Volatility Comparison
iShares S&P GSCI Commodity-Indexed Trust (GSG) and iShares Bitcoin Trust ETF (IBIT) have volatilities of 8.75% and 8.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSG | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.75% | 8.98% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 22.27% | 33.79% | -11.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.37% | 44.48% | -20.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.89% | 49.57% | -26.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.07% | 49.57% | -27.50% |
GSG vs. IBIT - Expense Ratio Comparison
GSG has a 0.75% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
GSG vs. IBIT - Dividend Comparison
Neither GSG nor IBIT has paid dividends to shareholders.
Frequently Asked Questions
GSG and IBIT have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (8.98%) compared to GSG (8.75%). In terms of maximum drawdown, GSG dropped -89.62% vs IBIT's -53.30%.
On 1-year performance, GSG leads with 38.52% vs -43.69% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, GSG has been the lower-risk option at 8.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GSG has performed better with a 38.52% return vs -43.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.75% for GSG.
GSG and IBIT have nearly identical dividend yields, around 0.00%.
GSG is categorized as Commodities, while IBIT is Cryptocurrency. GSG tracks S&P GSCI Total Return Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.75% for GSG and 0.25% for IBIT.
GSG currently has the higher Sharpe Ratio (1.59 vs -0.99), 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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