GSWO vs. GSG
GSWO (Goldman Sachs ActiveBeta World Equity ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - GSWO is a Global Equities fund tracking the Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 3 years, GSWO returned 16.39%/yr vs 15.32%/yr for GSG. Their 0.07 correlation means their historical movements had little consistent relationship. GSWO charges 0.25%/yr vs 0.75%/yr for GSG.
Performance
GSWO vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, GSWO achieves a 9.77% return, which is significantly lower than GSG's 42.11% return.
GSWO
- 1D
- 0.17%
- 1M
- 0.80%
- 6M
- 8.66%
- YTD
- 9.77%
- 1Y
- 15.09%
- 3Y*
- 16.39%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.08%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.36M | $16.94M | $27.13M | |
| $3.06M | $3.14M | $3.93M |
GSWO vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GSWO Goldman Sachs ActiveBeta World Equity ETF | 9.77% | 18.97% | 15.29% | 16.28% | -6.15% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.11% | 5.93% | 8.52% | -5.51% | -0.28% |
Correlation
The correlation between GSWO and GSG is -0.22, 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. | -0.22 |
Correlation (3Y) Balances recent behavior with more history. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.07 |
The correlation between GSWO and GSG shifts across timeframes, from -0.22 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GSWO vs. GSG — Risk / Return Rank
GSWO
GSG
GSWO vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta World Equity ETF (GSWO) and iShares S&P GSCI Commodity-Indexed Trust (GSG). 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.
| GSWO | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.33 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 2.39 | -0.68 |
| Martin ratioReturn relative to average drawdown | 7.82 | 7.82 | 0.00 |
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Drawdowns
GSWO vs. GSG - Drawdown Comparison
The maximum GSWO drawdown since its inception was -17.77%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for GSWO and GSG.
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Drawdown Indicators
| GSWO | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.77% | -89.62% | +71.85% |
Max Drawdown (1Y)Largest decline over 1 year | -8.93% | -18.81% | +9.88% |
Max Drawdown (3Y)Largest decline over 3 years | -9.97% | -18.81% | +8.84% |
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 | -1.97% | -57.10% | +55.13% |
Average DrawdownAverage peak-to-trough decline | -3.19% | -63.68% | +60.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 5.75% | -3.80% |
Volatility
GSWO vs. GSG - Volatility Comparison
The current volatility for Goldman Sachs ActiveBeta World Equity ETF (GSWO) is 3.09%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 6.47%. This indicates that GSWO experiences smaller price fluctuations and is considered to be less risky than GSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSWO | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 6.47% | -3.38% |
Volatility (6M)Calculated over the trailing 6-month period | 10.30% | 21.68% | -11.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.66% | 23.69% | -12.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.02% | 22.75% | -9.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.02% | 22.01% | -8.99% |
GSWO vs. GSG - Expense Ratio Comparison
GSWO has a 0.25% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
GSWO vs. GSG - Dividend Comparison
GSWO's dividend yield for the trailing twelve months is around 1.55%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GSWO Goldman Sachs ActiveBeta World Equity ETF | 1.55% | 1.74% | 1.75% | 2.06% | 1.73% |
Frequently Asked Questions
GSWO and GSG have a correlation of -0.22, 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 GSWO (3.09%). In terms of maximum drawdown, GSWO dropped -17.77% vs GSG's -89.62%.
On 3-year performance, GSWO leads with 16.39% vs 15.32% for GSG. On fees, GSWO is cheaper at 0.25% per year. On volatility, GSWO has been the lower-risk option at 3.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GSWO has performed better with a 16.39% return vs 15.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSWO is cheaper with a 0.25% expense ratio, compared with 0.75% for GSG.
GSWO has the higher dividend yield at 1.55%, compared with 0.00% for GSG.
GSWO is categorized as Global Equities, while GSG is Commodities. GSWO tracks Goldman Sachs ActiveBeta World Low Vol Plus Equity Index - Benchmark TR Net, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.25% for GSWO and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.90 vs 1.31), 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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