IBGK vs. GSG
IBGK (iShares iBonds Dec 2054 Term Treasury ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - IBGK is a Long-Term Bond fund tracking the ICE 2054 Maturity US Treasury Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past year, IBGK returned -1.96% vs 38.52% for GSG. Their -0.24 correlation means they have often moved in opposite directions in the past. IBGK charges 0.07%/yr vs 0.75%/yr for GSG.
Performance
IBGK vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, IBGK achieves a -3.18% return, which is significantly lower than GSG's 35.21% return.
IBGK
- 1D
- 0.42%
- 1M
- -3.43%
- 6M
- -2.71%
- YTD
- -3.18%
- 1Y
- -1.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.45%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $17.98M | $16.40M | $25.53M | |
| $14.80K | $17.29K | $31.57K |
IBGK vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBGK iShares iBonds Dec 2054 Term Treasury ETF | -3.18% | 3.66% | -3.44% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 35.21% | 5.93% | -0.68% |
Correlation
The correlation between IBGK and GSG is -0.38, 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. | -0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2024 | -0.24 |
The correlation between IBGK and GSG shifts across timeframes, from -0.38 (1 year) to -0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBGK vs. GSG — Risk / Return Rank
IBGK
GSG
IBGK vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2054 Term Treasury ETF (IBGK) 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.
| IBGK | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -2.42 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.28 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 2.06 | -2.32 |
| Martin ratioReturn relative to average drawdown | -0.57 | 6.61 | -7.18 |
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Drawdowns
IBGK vs. GSG - Drawdown Comparison
The maximum IBGK drawdown since its inception was -14.62%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for IBGK and GSG.
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Drawdown Indicators
| IBGK | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.62% | -89.62% | +75.00% |
Max Drawdown (1Y)Largest decline over 1 year | -7.48% | -18.81% | +11.33% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.81% | — |
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 | -11.76% | -59.18% | +47.42% |
Average DrawdownAverage peak-to-trough decline | -8.15% | -63.67% | +55.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 5.85% | -2.41% |
Volatility
IBGK vs. GSG - Volatility Comparison
The current volatility for iShares iBonds Dec 2054 Term Treasury ETF (IBGK) is 2.45%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 8.75%. This indicates that IBGK 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
| IBGK | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.45% | 8.75% | -6.30% |
Volatility (6M)Calculated over the trailing 6-month period | 6.58% | 22.27% | -15.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.86% | 24.37% | -15.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.62% | 22.89% | -11.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.62% | 22.07% | -10.45% |
IBGK vs. GSG - Expense Ratio Comparison
IBGK has a 0.07% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
IBGK vs. GSG - Dividend Comparison
IBGK's dividend yield for the trailing twelve months is around 4.84%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% |
IBGK iShares iBonds Dec 2054 Term Treasury ETF | 4.84% | 4.59% | 3.15% |
Frequently Asked Questions
IBGK and GSG have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (8.75%) compared to IBGK (2.45%). In terms of maximum drawdown, IBGK dropped -14.62% vs GSG's -89.62%.
On 1-year performance, GSG leads with 38.52% vs -1.96% for IBGK. On fees, IBGK is cheaper at 0.07% per year. On volatility, IBGK has been the lower-risk option at 2.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GSG has performed better with a 38.52% return vs -1.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGK is cheaper with a 0.07% expense ratio, compared with 0.75% for GSG.
IBGK has the higher dividend yield at 4.84%, compared with 0.00% for GSG.
IBGK is categorized as Long-Term Bond, while GSG is Commodities. IBGK tracks ICE 2054 Maturity US Treasury Index, while GSG tracks S&P GSCI Total Return Index. Their fees differ too: 0.07% for IBGK and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.59 vs -0.22), 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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