KMAR vs. GSG
KMAR (Innovator U.S. Small Cap Power Buffer ETF - March) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - KMAR is a Defined Outcome fund tracking the iShares Russell 2000 ETF (IWM) Price Return, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past year, KMAR returned 23.68% vs 36.06% for GSG. Their -0.08 correlation means they have often moved in opposite directions in the past. KMAR charges 0.79%/yr vs 0.75%/yr for GSG.
Performance
KMAR vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, KMAR achieves a 13.38% return, which is significantly lower than GSG's 32.05% return.
KMAR
- 1D
- 0.56%
- 1M
- 1.35%
- 6M
- 10.08%
- YTD
- 13.38%
- 1Y
- 23.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 17.90%
GSG
- 1D
- -2.34%
- 1M
- 7.33%
- 6M
- 21.51%
- YTD
- 32.05%
- 1Y
- 36.06%
- 3Y*
- 12.37%
- 5Y*
- 13.92%
- 10Y*
- 7.99%
- ALL TIME*
- -2.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $18.82M | $16.77M | $25.29M | |
| $119.64K | $74.39K | $163.01K |
KMAR vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KMAR Innovator U.S. Small Cap Power Buffer ETF - March | 13.38% | 11.45% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.05% | 3.92% |
Correlation
The correlation between KMAR and GSG is -0.22, 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. | -0.22 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2025 | -0.08 |
The correlation between KMAR and GSG shifts across timeframes, from -0.22 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KMAR vs. GSG — Risk / Return Rank
KMAR
GSG
KMAR vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Power Buffer ETF - March (KMAR) 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.
| KMAR | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.26 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 4.86 | 1.93 | +2.93 |
| Martin ratioReturn relative to average drawdown | 20.55 | 6.13 | +14.42 |
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Drawdowns
KMAR vs. GSG - Drawdown Comparison
The maximum KMAR drawdown since its inception was -11.32%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for KMAR and GSG.
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Drawdown Indicators
| KMAR | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.32% | -89.62% | +78.30% |
Max Drawdown (1Y)Largest decline over 1 year | -4.89% | -18.81% | +13.92% |
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 | 0.00% | -60.13% | +60.13% |
Average DrawdownAverage peak-to-trough decline | -1.26% | -63.67% | +62.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 5.90% | -4.74% |
Volatility
KMAR vs. GSG - Volatility Comparison
The current volatility for Innovator U.S. Small Cap Power Buffer ETF - March (KMAR) is 1.88%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 9.06%. This indicates that KMAR 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
| KMAR | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.88% | 9.06% | -7.18% |
Volatility (6M)Calculated over the trailing 6-month period | 6.81% | 22.00% | -15.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.16% | 24.45% | -15.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.77% | 22.90% | -11.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.77% | 22.09% | -10.32% |
KMAR vs. GSG - Expense Ratio Comparison
KMAR has a 0.79% expense ratio, which is higher than GSG's 0.75% expense ratio.
Dividends
KMAR vs. GSG - Dividend Comparison
Neither KMAR nor GSG has paid dividends to shareholders.
Frequently Asked Questions
KMAR and GSG have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (9.06%) compared to KMAR (1.88%). In terms of maximum drawdown, KMAR dropped -11.32% vs GSG's -89.62%.
On 1-year performance, GSG leads with 36.06% vs 23.68% for KMAR. On fees, GSG is cheaper at 0.75% per year. On volatility, KMAR has been the lower-risk option at 1.88%. 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 36.06% return vs 23.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSG is cheaper with a 0.75% expense ratio, compared with 0.79% for KMAR.
KMAR and GSG have nearly identical dividend yields, around 0.00%.
KMAR is categorized as Defined Outcome, while GSG is Commodities. KMAR tracks iShares Russell 2000 ETF (IWM) Price Return, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for KMAR and 0.75% for GSG.
KMAR currently has the higher Sharpe Ratio (2.61 vs 1.48), 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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