IOPP vs. GSG
IOPP (Simplify Tara India Opportunities ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - IOPP is a Asia Pacific Equities fund actively managed by Simplify, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. IOPP is actively managed, while GSG is passively managed. Over the past year, IOPP returned -2.74% vs 27.65% for GSG. At a correlation of -0.10, they often move in opposite directions. IOPP charges 0.73%/yr vs 0.75%/yr for GSG.
Performance
IOPP vs. GSG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IOPP achieves a -5.00% return, which is significantly lower than GSG's 25.54% return.
IOPP
- 1D
- -1.44%
- 1M
- 3.72%
- YTD
- -5.00%
- 6M
- -4.92%
- 1Y
- -2.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GSG
- 1D
- -1.03%
- 1M
- -12.93%
- YTD
- 25.54%
- 6M
- 23.88%
- 1Y
- 27.65%
- 3Y*
- 14.02%
- 5Y*
- 12.78%
- 10Y*
- 6.58%
IOPP vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IOPP Simplify Tara India Opportunities ETF | -5.00% | 1.86% | 14.31% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 25.54% | 5.93% | 2.35% |
Correlation
The correlation between IOPP and GSG is -0.32, 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 | -0.32 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2024 | -0.10 |
Over the past year, the inverse relationship between IOPP and GSG has strengthened: their correlation has moved from -0.10 to -0.32, meaning they now move in opposite directions more often than their long-term average.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IOPP vs. GSG — Risk / Return Rank
IOPP
GSG
IOPP vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Tara India Opportunities ETF (IOPP) 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.
| IOPP | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.84 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.23 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | 1.66 | -1.80 |
| Martin ratioReturn relative to average drawdown | -0.36 | 6.95 | -7.31 |
Loading charts...
Drawdowns
IOPP vs. GSG - Drawdown Comparison
The maximum IOPP drawdown since its inception was -23.67%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for IOPP and GSG.
Loading charts...
Drawdown Indicators
| IOPP | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.67% | -89.62% | +65.95% |
Max Drawdown (1Y)Largest decline over 1 year | -19.42% | -16.74% | -2.68% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.74% | — |
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 | -13.23% | -62.10% | +48.87% |
Average DrawdownAverage peak-to-trough decline | -8.97% | -63.69% | +54.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.58% | 4.01% | +3.57% |
Volatility
IOPP vs. GSG - Volatility Comparison
Simplify Tara India Opportunities ETF (IOPP) and iShares S&P GSCI Commodity-Indexed Trust (GSG) have volatilities of 5.22% and 5.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IOPP | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.22% | 5.46% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 14.68% | 20.82% | -6.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.40% | 23.17% | -5.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.82% | 22.67% | -5.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.82% | 22.01% | -5.19% |
IOPP vs. GSG - Expense Ratio Comparison
IOPP has a 0.73% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
IOPP vs. GSG - Dividend Comparison
IOPP's dividend yield for the trailing twelve months is around 0.19%, 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% |
IOPP Simplify Tara India Opportunities ETF | 0.19% | 0.29% | 6.96% |
Frequently Asked Questions
IOPP and GSG have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (5.46%) compared to IOPP (5.22%). In terms of maximum drawdown, IOPP dropped -23.67% vs GSG's -89.62%.
On 1-year performance, GSG leads with 27.65% vs -2.74% for IOPP. On fees, IOPP is cheaper at 0.73% per year. On volatility, IOPP has been the lower-risk option at 5.22%. 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 27.65% return vs -2.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IOPP is cheaper with a 0.73% expense ratio, compared with 0.75% for GSG.
IOPP has the higher dividend yield at 0.19%, compared with 0.00% for GSG.
IOPP is categorized as Asia Pacific Equities, while GSG is Commodities. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.73% for IOPP and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.22 vs -0.16), 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.
Find the right allocation for IOPP and GSG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer