GSG vs. VCMDX
GSG (iShares S&P GSCI Commodity-Indexed Trust) and VCMDX (Vanguard Commodity Strategy Fund Admiral Shares) are both Commodities funds. Over the past 5 years, GSG returned 13.07%/yr vs 11.14%/yr for VCMDX. A 0.79 correlation means they provide meaningful diversification when combined. GSG charges 0.75%/yr vs 0.20%/yr for VCMDX.
Performance
GSG vs. VCMDX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GSG achieves a 26.84% return, which is significantly higher than VCMDX's 14.30% return.
GSG
- 1D
- -0.95%
- 1M
- -12.03%
- YTD
- 26.84%
- 6M
- 26.40%
- 1Y
- 23.99%
- 3Y*
- 14.41%
- 5Y*
- 13.07%
- 10Y*
- 6.69%
VCMDX
- 1D
- -1.06%
- 1M
- -6.95%
- YTD
- 14.30%
- 6M
- 14.43%
- 1Y
- 20.85%
- 3Y*
- 11.35%
- 5Y*
- 11.14%
- 10Y*
- —
GSG vs. VCMDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 26.84% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 3.45% |
VCMDX Vanguard Commodity Strategy Fund Admiral Shares | 14.30% | 18.20% | 5.27% | -7.45% | 13.83% | 34.82% | 5.07% | 2.74% |
Correlation
The correlation between GSG and VCMDX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2019 | 0.79 |
The correlation between GSG and VCMDX has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GSG vs. VCMDX — Risk / Return Rank
GSG
VCMDX
GSG vs. VCMDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P GSCI Commodity-Indexed Trust (GSG) and Vanguard Commodity Strategy Fund Admiral Shares (VCMDX). 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 | VCMDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.24 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 2.01 | -0.49 |
| Martin ratioReturn relative to average drawdown | 6.22 | 7.26 | -1.04 |
Loading charts...
Drawdowns
GSG vs. VCMDX - Drawdown Comparison
The maximum GSG drawdown since its inception was -89.62%, which is greater than VCMDX's maximum drawdown of -26.67%. Use the drawdown chart below to compare losses from any high point for GSG and VCMDX.
Loading charts...
Drawdown Indicators
| GSG | VCMDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.62% | -26.67% | -62.95% |
Max Drawdown (1Y)Largest decline over 1 year | -15.88% | -10.15% | -5.73% |
Max Drawdown (3Y)Largest decline over 3 years | -15.88% | -10.15% | -5.73% |
Max Drawdown (5Y)Largest decline over 5 years | -29.12% | -25.45% | -3.67% |
Max Drawdown (10Y)Largest decline over 10 years | -57.64% | — | — |
Current DrawdownCurrent decline from peak | -61.70% | -10.15% | -51.55% |
Average DrawdownAverage peak-to-trough decline | -63.69% | -10.83% | -52.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 2.90% | +1.56% |
Volatility
GSG vs. VCMDX - Volatility Comparison
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a higher volatility of 5.46% compared to Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) at 3.69%. This indicates that GSG's price experiences larger fluctuations and is considered to be riskier than VCMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GSG | VCMDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.46% | 3.69% | +1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 20.81% | 12.85% | +7.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.19% | 15.02% | +8.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.66% | 15.83% | +6.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.03% | 15.38% | +6.65% |
GSG vs. VCMDX - Expense Ratio Comparison
GSG has a 0.75% expense ratio, which is higher than VCMDX's 0.20% expense ratio.
Dividends
GSG vs. VCMDX - Dividend Comparison
GSG has not paid dividends to shareholders, while VCMDX's dividend yield for the trailing twelve months is around 13.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VCMDX Vanguard Commodity Strategy Fund Admiral Shares | 13.31% | 15.21% | 2.19% | 2.50% | 14.21% | 30.56% | 0.50% | 0.60% |
Frequently Asked Questions
GSG and VCMDX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (5.46%) compared to VCMDX (3.69%). In terms of maximum drawdown, GSG dropped -89.62% vs VCMDX's -26.67%.
VCMDX currently has the higher Sharpe Ratio (1.36 vs 1.04), 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.
Find the right allocation for GSG and VCMDX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer