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 -6.43% vs 51.52% for GSG. At a correlation of -0.09, they often move in opposite directions. IOPP charges 0.73%/yr vs 0.75%/yr for GSG.
Performance
IOPP vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, IOPP achieves a -9.08% return, which is significantly lower than GSG's 42.58% return.
IOPP
- 1D
- -1.09%
- 1M
- 0.04%
- YTD
- -9.08%
- 6M
- -6.49%
- 1Y
- -6.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GSG
- 1D
- 0.77%
- 1M
- -4.83%
- YTD
- 42.58%
- 6M
- 41.06%
- 1Y
- 51.52%
- 3Y*
- 19.31%
- 5Y*
- 15.74%
- 10Y*
- 7.69%
IOPP vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IOPP Simplify Tara India Opportunities ETF | -9.08% | 1.86% | 14.13% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.58% | 5.93% | 3.13% |
Correlation
The correlation between IOPP and GSG is -0.31, 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 | -0.31 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2024 | -0.09 |
Over the past year, the inverse relationship between IOPP and GSG has strengthened: their correlation has moved from -0.09 to -0.31, meaning they now move in opposite directions more often than their long-term average.
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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.
| IOPP | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.32 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.40 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 5.47 | -5.81 |
| Martin ratioReturn relative to average drawdown | -0.89 | 14.39 | -15.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IOPP | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.38 | 2.26 | -2.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.70 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | -0.09 | +0.24 |
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.
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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% | -9.46% | -9.96% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.94% | — |
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 | -16.96% | -56.95% | +39.99% |
Average DrawdownAverage peak-to-trough decline | -8.85% | -63.71% | +54.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.24% | 3.59% | +3.65% |
Volatility
IOPP vs. GSG - Volatility Comparison
The current volatility for Simplify Tara India Opportunities ETF (IOPP) is 5.78%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that IOPP 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
| IOPP | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.78% | 7.65% | -1.87% |
Volatility (6M)Calculated over the trailing 6-month period | 14.32% | 20.42% | -6.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.10% | 22.95% | -5.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.78% | 22.61% | -5.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.78% | 22.03% | -5.25% |
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 0.20%, 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 | 0.20% | 0.29% | 6.96% |
Frequently Asked Questions
IOPP and GSG have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (7.65%) compared to IOPP (5.78%). In terms of maximum drawdown, IOPP dropped -23.67% vs GSG's -89.62%.
On 1-year performance, GSG leads with 51.52% vs -6.43% for IOPP. On fees, IOPP is cheaper at 0.73% per year. On volatility, IOPP has been the lower-risk option at 5.78%. 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 51.52% return vs -6.43%. 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 0.20%, 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 (2.26 vs -0.38), 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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