ILTB vs. GSG
ILTB (iShares Core 10+ Year USD Bond ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - ILTB is a Long-Term Bond fund tracking the Bloomberg U.S. Universal 10+ Year Index (USD), while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, ILTB returned 0.70%/yr vs 8.24%/yr for GSG. Their -0.14 correlation means they have often moved in opposite directions in the past. ILTB charges 0.06%/yr vs 0.75%/yr for GSG.
Performance
ILTB vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, ILTB achieves a -2.31% return, which is significantly lower than GSG's 35.21% return. Over the past 10 years, ILTB has underperformed GSG with an annualized return of 0.70%, while GSG has yielded a comparatively higher 8.24% annualized return.
ILTB
- 1D
- 0.40%
- 1M
- -3.14%
- 6M
- -2.28%
- YTD
- -2.31%
- 1Y
- 0.54%
- 3Y*
- 2.67%
- 5Y*
- -4.57%
- 10Y*
- 0.70%
- ALL TIME*
- 3.71%
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 | |
| $1.83M | $1.76M | $2.56M |
ILTB vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ILTB iShares Core 10+ Year USD Bond ETF | -2.31% | 7.22% | -3.00% | 8.04% | -26.62% | -2.67% | 16.10% | 19.61% | -5.10% | 11.24% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 35.21% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between ILTB and GSG is -0.40, 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. | -0.40 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 2009 | -0.14 |
Over the past year, the inverse relationship between ILTB and GSG has strengthened: their correlation has moved from -0.14 to -0.40, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
ILTB vs. GSG — Risk / Return Rank
ILTB
GSG
ILTB vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core 10+ Year USD Bond ETF (ILTB) 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.
| ILTB | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.28 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 2.06 | -1.96 |
| Martin ratioReturn relative to average drawdown | 0.22 | 6.61 | -6.39 |
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Drawdowns
ILTB vs. GSG - Drawdown Comparison
The maximum ILTB drawdown since its inception was -36.88%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for ILTB and GSG.
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Drawdown Indicators
| ILTB | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.88% | -89.62% | +52.74% |
Max Drawdown (1Y)Largest decline over 1 year | -5.60% | -18.81% | +13.21% |
Max Drawdown (3Y)Largest decline over 3 years | -11.33% | -18.81% | +7.48% |
Max Drawdown (5Y)Largest decline over 5 years | -35.22% | -29.12% | -6.10% |
Max Drawdown (10Y)Largest decline over 10 years | -36.88% | -57.64% | +20.76% |
Current DrawdownCurrent decline from peak | -23.33% | -59.18% | +35.85% |
Average DrawdownAverage peak-to-trough decline | -10.03% | -63.67% | +53.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.48% | 5.85% | -3.37% |
Volatility
ILTB vs. GSG - Volatility Comparison
The current volatility for iShares Core 10+ Year USD Bond ETF (ILTB) is 2.11%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 8.75%. This indicates that ILTB 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
| ILTB | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.11% | 8.75% | -6.64% |
Volatility (6M)Calculated over the trailing 6-month period | 5.86% | 22.27% | -16.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.61% | 24.37% | -16.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.59% | 22.89% | -10.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.54% | 22.07% | -10.53% |
ILTB vs. GSG - Expense Ratio Comparison
ILTB has a 0.06% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
ILTB vs. GSG - Dividend Comparison
ILTB's dividend yield for the trailing twelve months is around 5.14%, 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% |
ILTB iShares Core 10+ Year USD Bond ETF | 5.14% | 4.83% | 4.91% | 4.38% | 4.31% | 3.04% | 3.32% | 3.45% | 4.13% | 3.97% | 3.99% | 4.20% |
Frequently Asked Questions
ILTB and GSG have a correlation of -0.40, 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 ILTB (2.11%). In terms of maximum drawdown, ILTB dropped -36.88% vs GSG's -89.62%.
On 10-year performance, GSG leads with 8.24% vs 0.70% for ILTB. On fees, ILTB is cheaper at 0.06% per year. On volatility, ILTB has been the lower-risk option at 2.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GSG has performed better with a 8.24% return vs 0.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ILTB is cheaper with a 0.06% expense ratio, compared with 0.75% for GSG.
ILTB has the higher dividend yield at 5.14%, compared with 0.00% for GSG.
ILTB is categorized as Long-Term Bond, while GSG is Commodities. ILTB tracks Bloomberg U.S. Universal 10+ Year Index (USD), while GSG tracks S&P GSCI Total Return Index. Their fees differ too: 0.06% for ILTB and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.59 vs 0.07), 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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