GSG vs. NVCR

Last updated Apr 2, 2026

Compare and contrast key facts about iShares S&P GSCI Commodity-Indexed Trust (GSG) and NovoCure Limited (NVCR).

GSG is a passively managed fund by iShares that tracks the performance of the S&P GSCI Total Return Index. It was launched on Jul 21, 2006.

Performance

GSG vs. NVCR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P GSCI Commodity-Indexed Trust (GSG) and NovoCure Limited (NVCR). The values are adjusted to include any dividend payments, if applicable.

GSG vs. NVCR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GSG iShares S&P GSCI Commodity-Indexed Trust	38.38%	5.93%	8.52%	-5.51%	24.08%	38.77%	-23.94%	15.62%	-13.88%	3.89%
NVCR NovoCure Limited	-16.16%	-56.61%	99.60%	-79.65%	-2.30%	-56.61%	105.34%	151.70%	65.74%	157.32%

Returns By Period

In the year-to-date period, GSG achieves a 38.38% return, which is significantly higher than NVCR's -16.16% return. Over the past 10 years, GSG has outperformed NVCR with an annualized return of 8.98%, while NVCR has yielded a comparatively lower -2.62% annualized return.

GSG

• 1D: -1.05%
• 1M: 18.45%
• YTD: 38.38%
• 6M: 39.22%
• 1Y: 40.14%
• 3Y*: 16.62%
• 5Y*: 17.68%
• 10Y*: 8.98%

NVCR

• 1D: -0.55%
• 1M: -19.82%
• YTD: -16.16%
• 6M: -22.46%
• 1Y: -38.13%
• 3Y*: -43.51%
• 5Y*: -39.46%
• 10Y*: -2.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

GSG vs. NVCR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GSG

GSG Risk / Return Rank: 87
GSG Sharpe Ratio Rank: 88
GSG Sortino Ratio Rank: 89
GSG Omega Ratio Rank: 85
GSG Calmar Ratio Rank: 92
GSG Martin Ratio Rank: 81

NVCR

NVCR Risk / Return Rank: 16
NVCR Sharpe Ratio Rank: 17
NVCR Sortino Ratio Rank: 18
NVCR Omega Ratio Rank: 19
NVCR Calmar Ratio Rank: 11
NVCR Martin Ratio Rank: 15

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GSG vs. NVCR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P GSCI Commodity-Indexed Trust (GSG) and NovoCure Limited (NVCR). 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	NVCR	Difference
Sharpe ratio Return per unit of total volatility	1.91	-0.55	+2.46
Sortino ratio Return per unit of downside risk	2.58	-0.50	+3.08
Omega ratio Gain probability vs. loss probability	1.35	0.94	+0.41
Calmar ratio Return relative to maximum drawdown	3.37	-0.81	+4.18
Martin ratio Return relative to average drawdown	9.40	-1.29	+10.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GSG vs. NVCR - Sharpe Ratio Comparison

The current GSG Sharpe Ratio is 1.91, which is higher than the NVCR Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of GSG and NVCR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GSG	NVCR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	-0.55	+2.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	-0.49	+1.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	-0.04	+0.45
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	-0.07	-0.03

Correlation

The correlation between GSG and NVCR is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GSG vs. NVCR - Dividend Comparison

Neither GSG nor NVCR has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

GSG vs. NVCR - Drawdown Comparison

The maximum GSG drawdown since its inception was -89.62%, smaller than the maximum NVCR drawdown of -95.55%. Use the drawdown chart below to compare losses from any high point for GSG and NVCR.

Drawdown Indicators

	GSG	NVCR	Difference
Max Drawdown Largest peak-to-trough decline	-89.62%	-95.55%	+5.93%
Max Drawdown (1Y) Largest decline over 1 year	-11.91%	-48.30%	+36.39%
Max Drawdown (5Y) Largest decline over 5 years	-29.12%	-95.55%	+66.43%
Max Drawdown (10Y) Largest decline over 10 years	-57.64%	-95.55%	+37.91%
Current Drawdown Current decline from peak	-58.22%	-95.19%	+36.97%
Average Drawdown Average peak-to-trough decline	-63.77%	-51.47%	-12.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.27%	30.35%	-26.08%

Volatility

GSG vs. NVCR - Volatility Comparison

The current volatility for iShares S&P GSCI Commodity-Indexed Trust (GSG) is 11.23%, while NovoCure Limited (NVCR) has a volatility of 16.85%. This indicates that GSG experiences smaller price fluctuations and is considered to be less risky than NVCR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSG	NVCR	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.23%	16.85%	-5.62%
Volatility (6M) Calculated over the trailing 6-month period	16.29%	51.80%	-35.51%
Volatility (1Y) Calculated over the trailing 1-year period	21.14%	69.42%	-48.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.97%	81.31%	-59.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.77%	71.60%	-49.83%