GSG vs. ITOT
GSG (iShares S&P GSCI Commodity-Indexed Trust) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both exchange-traded funds - GSG is a Commodities fund tracking the S&P GSCI Total Return Index, while ITOT is a Large Cap Blend Equities fund tracking the S&P Total Market Index. Both are passively managed. Over the past 10 years, GSG returned 8.71%/yr vs 14.42%/yr for ITOT. Their 0.30 correlation means their historical movements had little consistent relationship. GSG charges 0.75%/yr vs 0.03%/yr for ITOT.
Performance
GSG vs. ITOT - 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 ITOT's 9.48% return. Over the past 10 years, GSG has underperformed ITOT with an annualized return of 8.71%, while ITOT has yielded a comparatively higher 14.42% annualized 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%
ITOT
- 1D
- 0.07%
- 1M
- 0.48%
- 6M
- 7.83%
- YTD
- 9.48%
- 1Y
- 17.56%
- 3Y*
- 18.70%
- 5Y*
- 11.47%
- 10Y*
- 14.42%
- ALL TIME*
- 10.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.36M | $16.94M | $27.13M | |
| $228.53M | $259.55M | $322.53M |
GSG vs. ITOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.11% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
ITOT iShares Core S&P Total U.S. Stock Market ETF | 9.48% | 17.00% | 23.80% | 26.12% | -19.47% | 25.68% | 20.71% | 30.67% | -5.33% | 21.37% |
Correlation
The correlation between GSG and ITOT is -0.17, 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. | -0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jul 21, 2006 | 0.30 |
The correlation between GSG and ITOT shifts across timeframes, from -0.17 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GSG vs. ITOT — Risk / Return Rank
GSG
ITOT
GSG vs. ITOT - 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 Core S&P Total U.S. Stock Market ETF (ITOT). 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 | ITOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.25 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 2.04 | +0.36 |
| Martin ratioReturn relative to average drawdown | 7.82 | 8.79 | -0.97 |
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Drawdowns
GSG vs. ITOT - Drawdown Comparison
The maximum GSG drawdown since its inception was -89.62%, which is greater than ITOT's maximum drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for GSG and ITOT.
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Drawdown Indicators
| GSG | ITOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.62% | -55.20% | -34.42% |
Max Drawdown (1Y)Largest decline over 1 year | -18.81% | -8.90% | -9.91% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | -19.44% | +0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -29.12% | -25.36% | -3.76% |
Max Drawdown (10Y)Largest decline over 10 years | -57.64% | -35.00% | -22.64% |
Current DrawdownCurrent decline from peak | -57.10% | -2.31% | -54.79% |
Average DrawdownAverage peak-to-trough decline | -63.68% | -6.94% | -56.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.75% | 2.06% | +3.69% |
Volatility
GSG vs. ITOT - Volatility Comparison
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a higher volatility of 6.47% compared to iShares Core S&P Total U.S. Stock Market ETF (ITOT) at 3.06%. This indicates that GSG's price experiences larger fluctuations and is considered to be riskier than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSG | ITOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.47% | 3.06% | +3.41% |
Volatility (6M)Calculated over the trailing 6-month period | 21.68% | 10.02% | +11.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.69% | 12.94% | +10.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.75% | 17.44% | +5.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.01% | 18.25% | +3.76% |
GSG vs. ITOT - Expense Ratio Comparison
GSG has a 0.75% expense ratio, which is higher than ITOT's 0.03% expense ratio.
Dividends
GSG vs. ITOT - Dividend Comparison
GSG has not paid dividends to shareholders, while ITOT's dividend yield for the trailing twelve months is around 1.02%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ITOT iShares Core S&P Total U.S. Stock Market ETF | 1.02% | 1.11% | 1.23% | 1.47% | 1.66% | 1.18% | 1.41% | 1.88% | 2.14% | 1.69% | 1.83% | 2.01% |
Frequently Asked Questions
GSG and ITOT have a correlation of -0.17, 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 ITOT (3.06%). In terms of maximum drawdown, GSG dropped -89.62% vs ITOT's -55.20%.
On 10-year performance, ITOT leads with 14.42% vs 8.71% for GSG. On fees, ITOT is cheaper at 0.03% per year. On volatility, ITOT has been the lower-risk option at 3.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ITOT has performed better with a 14.42% return vs 8.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITOT is cheaper with a 0.03% expense ratio, compared with 0.75% for GSG.
ITOT has the higher dividend yield at 1.02%, compared with 0.00% for GSG.
GSG is categorized as Commodities, while ITOT is Large Cap Blend Equities. GSG tracks S&P GSCI Total Return Index, while ITOT tracks S&P Total Market Index. Their fees differ too: 0.75% for GSG and 0.03% for ITOT.
GSG currently has the higher Sharpe Ratio (1.90 vs 1.40), 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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