ILCB vs. GSG
ILCB (iShares Morningstar U.S. Equity ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - ILCB is a Large Cap Blend Equities fund tracking the Morningstar US Large-Mid Cap Market Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, ILCB returned 14.59%/yr vs 8.03%/yr for GSG. Their 0.27 correlation means their historical movements had little consistent relationship. ILCB charges 0.03%/yr vs 0.75%/yr for GSG.
Performance
ILCB vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, ILCB achieves a 13.49% return, which is significantly lower than GSG's 32.52% return. Over the past 10 years, ILCB has outperformed GSG with an annualized return of 14.59%, while GSG has yielded a comparatively lower 8.03% annualized return.
ILCB
- 1D
- -0.20%
- 1M
- 2.31%
- 6M
- 13.05%
- YTD
- 13.49%
- 1Y
- 23.63%
- 3Y*
- 21.59%
- 5Y*
- 12.75%
- 10Y*
- 14.59%
- ALL TIME*
- 11.30%
GSG
- 1D
- 0.36%
- 1M
- 5.78%
- 6M
- 21.95%
- YTD
- 32.52%
- 1Y
- 37.47%
- 3Y*
- 12.51%
- 5Y*
- 14.20%
- 10Y*
- 8.03%
- ALL TIME*
- -2.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $18.96M | $16.42M | $22.87M | |
| $1.54M | $1.35M | $1.38M |
ILCB vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ILCB iShares Morningstar U.S. Equity ETF | 13.49% | 17.70% | 24.96% | 26.91% | -19.48% | 24.07% | 19.40% | 32.68% | -8.51% | 22.09% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.52% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between ILCB and GSG is -0.20, 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. | -0.20 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jul 21, 2006 | 0.27 |
The correlation between ILCB and GSG shifts across timeframes, from -0.20 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ILCB vs. GSG — Risk / Return Rank
ILCB
GSG
ILCB vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar U.S. Equity ETF (ILCB) 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.
| ILCB | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.27 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 2.00 | +0.61 |
| Martin ratioReturn relative to average drawdown | 11.03 | 6.32 | +4.71 |
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Drawdowns
ILCB vs. GSG - Drawdown Comparison
The maximum ILCB drawdown since its inception was -51.53%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for ILCB and GSG.
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Drawdown Indicators
| ILCB | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.53% | -89.62% | +38.09% |
Max Drawdown (1Y)Largest decline over 1 year | -9.09% | -18.81% | +9.72% |
Max Drawdown (3Y)Largest decline over 3 years | -19.05% | -18.81% | -0.24% |
Max Drawdown (5Y)Largest decline over 5 years | -25.47% | -29.12% | +3.65% |
Max Drawdown (10Y)Largest decline over 10 years | -35.30% | -57.64% | +22.34% |
Current DrawdownCurrent decline from peak | -0.20% | -59.99% | +59.79% |
Average DrawdownAverage peak-to-trough decline | -6.20% | -63.67% | +57.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 5.94% | -3.79% |
Volatility
ILCB vs. GSG - Volatility Comparison
The current volatility for iShares Morningstar U.S. Equity ETF (ILCB) is 4.16%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 8.99%. This indicates that ILCB 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
| ILCB | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | 8.99% | -4.83% |
Volatility (6M)Calculated over the trailing 6-month period | 10.40% | 21.89% | -11.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.00% | 24.44% | -11.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.27% | 22.90% | -5.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 22.08% | -3.88% |
ILCB vs. GSG - Expense Ratio Comparison
ILCB has a 0.03% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
ILCB vs. GSG - Dividend Comparison
ILCB's dividend yield for the trailing twelve months is around 0.95%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ILCB iShares Morningstar U.S. Equity ETF | 0.95% | 1.11% | 1.19% | 1.43% | 1.65% | 1.16% | 1.26% | 2.25% | 2.17% | 1.81% | 1.97% | 2.44% |
Frequently Asked Questions
ILCB and GSG have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (8.99%) compared to ILCB (4.16%). In terms of maximum drawdown, ILCB dropped -51.53% vs GSG's -89.62%.
On 10-year performance, ILCB leads with 14.59% vs 8.03% for GSG. On fees, ILCB is cheaper at 0.03% per year. On volatility, ILCB has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ILCB has performed better with a 14.59% return vs 8.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ILCB is cheaper with a 0.03% expense ratio, compared with 0.75% for GSG.
ILCB has the higher dividend yield at 0.95%, compared with 0.00% for GSG.
ILCB is categorized as Large Cap Blend Equities, while GSG is Commodities. ILCB tracks Morningstar US Large-Mid Cap Market Index, while GSG tracks S&P GSCI Total Return Index. Their fees differ too: 0.03% for ILCB and 0.75% for GSG.
ILCB currently has the higher Sharpe Ratio (1.83 vs 1.54), 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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