GSG vs. PIT
GSG (iShares S&P GSCI Commodity-Indexed Trust) and PIT (VanEck Commodity Strategy ETF) are both Commodities funds. GSG is passively managed, while PIT is actively managed. Over the past 3 years, GSG returned 13.26%/yr vs 19.64%/yr for PIT. Their correlation of 0.93 means they have usually moved in the same direction. GSG charges 0.75%/yr vs 0.55%/yr for PIT.
Performance
GSG vs. PIT - Performance Comparison
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Returns By Period
In the year-to-date period, GSG achieves a 35.21% return, which is significantly lower than PIT's 39.56% 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%
PIT
- 1D
- -0.05%
- 1M
- 12.06%
- 6M
- 30.88%
- YTD
- 39.56%
- 1Y
- 56.01%
- 3Y*
- 19.64%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 16.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $17.98M | $16.40M | $25.53M | |
| $1.38M | $2.80M | $3.76M |
GSG vs. PIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 35.21% | 5.93% | 8.52% | -5.51% | 1.72% |
PIT VanEck Commodity Strategy ETF | 39.56% | 21.63% | 6.77% | -4.54% | 1.67% |
Correlation
The correlation between GSG and PIT is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022 | 0.93 |
The correlation between GSG and PIT has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
GSG vs. PIT — Risk / Return Rank
GSG
PIT
GSG vs. PIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P GSCI Commodity-Indexed Trust (GSG) and VanEck Commodity Strategy ETF (PIT). 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 | PIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.42 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 3.19 | -1.13 |
| Martin ratioReturn relative to average drawdown | 6.61 | 10.87 | -4.26 |
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Drawdowns
GSG vs. PIT - Drawdown Comparison
The maximum GSG drawdown since its inception was -89.62%, which is greater than PIT's maximum drawdown of -17.20%. Use the drawdown chart below to compare losses from any high point for GSG and PIT.
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Drawdown Indicators
| GSG | PIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.62% | -17.20% | -72.42% |
Max Drawdown (1Y)Largest decline over 1 year | -18.81% | -17.20% | -1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | -17.20% | -1.61% |
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% | -5.78% | -53.40% |
Average DrawdownAverage peak-to-trough decline | -63.67% | -4.27% | -59.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.85% | 5.05% | +0.80% |
Volatility
GSG vs. PIT - Volatility Comparison
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a higher volatility of 8.75% compared to VanEck Commodity Strategy ETF (PIT) at 6.47%. This indicates that GSG's price experiences larger fluctuations and is considered to be riskier than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSG | PIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.75% | 6.47% | +2.28% |
Volatility (6M)Calculated over the trailing 6-month period | 22.27% | 19.93% | +2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.37% | 22.30% | +2.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.89% | 17.70% | +5.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.07% | 17.70% | +4.37% |
GSG vs. PIT - Expense Ratio Comparison
GSG has a 0.75% expense ratio, which is higher than PIT's 0.55% expense ratio.
Dividends
GSG vs. PIT - Dividend Comparison
GSG has not paid dividends to shareholders, while PIT's dividend yield for the trailing twelve months is around 6.39%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% |
PIT VanEck Commodity Strategy ETF | 6.39% | 8.92% | 3.59% | 6.44% |
Frequently Asked Questions
With a correlation of 0.94, GSG and PIT 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 (8.75%) compared to PIT (6.47%). In terms of maximum drawdown, GSG dropped -89.62% vs PIT's -17.20%.
On 3-year performance, PIT leads with 19.64% vs 13.26% for GSG. On fees, PIT is cheaper at 0.55% per year. On volatility, PIT has been the lower-risk option at 6.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PIT has performed better with a 19.64% return vs 13.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PIT is cheaper with a 0.55% expense ratio, compared with 0.75% for GSG.
PIT has the higher dividend yield at 6.39%, compared with 0.00% for GSG.
They also come from different issuers: iShares and VanEck. Their fees differ too: 0.75% for GSG and 0.55% for PIT.
PIT currently has the higher Sharpe Ratio (2.47 vs 1.59), 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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