INDH vs. GSG
INDH (WisdomTree India Hedged Equity Fund) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - INDH is a India Equities fund tracking the WisdomTree India Hedged Equity Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past year, INDH returned -5.41% vs 34.57% for GSG. At a correlation of -0.08, they often move in opposite directions. INDH charges 0.64%/yr vs 0.75%/yr for GSG.
Performance
INDH vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, INDH achieves a -7.92% return, which is significantly lower than GSG's 32.35% return.
INDH
- 1D
- -0.74%
- 1M
- 0.86%
- 6M
- -6.99%
- YTD
- -7.92%
- 1Y
- -5.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GSG
- 1D
- 3.60%
- 1M
- -0.20%
- 6M
- 28.24%
- YTD
- 32.35%
- 1Y
- 34.57%
- 3Y*
- 14.41%
- 5Y*
- 13.83%
- 10Y*
- 7.40%
INDH vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
INDH WisdomTree India Hedged Equity Fund | -7.92% | 6.76% | 5.03% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.35% | 5.93% | -1.14% |
Correlation
The correlation between INDH and GSG is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.29 |
Correlation (All Time) Calculated using the full available price history since May 9, 2024 | -0.08 |
Over the past year, the inverse relationship between INDH and GSG has strengthened: their correlation has moved from -0.08 to -0.29, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
INDH vs. GSG — Risk / Return Rank
INDH
GSG
INDH vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree India Hedged Equity Fund (INDH) 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.
| INDH | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.55 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.27 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 1.85 | -2.27 |
| Martin ratioReturn relative to average drawdown | -1.02 | 6.29 | -7.31 |
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Drawdowns
INDH vs. GSG - Drawdown Comparison
The maximum INDH drawdown since its inception was -15.05%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for INDH and GSG.
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Drawdown Indicators
| INDH | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.05% | -89.62% | +74.57% |
Max Drawdown (1Y)Largest decline over 1 year | -12.94% | -18.81% | +5.87% |
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 | -9.97% | -60.04% | +50.07% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -63.69% | +57.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | 5.51% | -0.18% |
Volatility
INDH vs. GSG - Volatility Comparison
The current volatility for WisdomTree India Hedged Equity Fund (INDH) is 3.40%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.35%. This indicates that INDH 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
| INDH | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.40% | 7.35% | -3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 11.89% | 21.50% | -9.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.32% | 23.48% | -10.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.33% | 22.80% | -8.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.33% | 22.00% | -7.67% |
INDH vs. GSG - Expense Ratio Comparison
INDH has a 0.64% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
INDH vs. GSG - Dividend Comparison
INDH's dividend yield for the trailing twelve months is around 5.70%, 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% |
INDH WisdomTree India Hedged Equity Fund | 5.70% | 5.25% | 0.31% |
Frequently Asked Questions
INDH and GSG have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (7.35%) compared to INDH (3.40%). In terms of maximum drawdown, INDH dropped -15.05% vs GSG's -89.62%.
On 1-year performance, GSG leads with 34.57% vs -5.41% for INDH. On fees, INDH is cheaper at 0.64% per year. On volatility, INDH has been the lower-risk option at 3.40%. 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 34.57% return vs -5.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
INDH is cheaper with a 0.64% expense ratio, compared with 0.75% for GSG.
INDH has the higher dividend yield at 5.70%, compared with 0.00% for GSG.
INDH is categorized as India Equities, while GSG is Commodities. INDH tracks WisdomTree India Hedged Equity Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.64% for INDH and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.48 vs -0.41), 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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