MAMB vs. GSG
MAMB (Monarch Ambassador Income ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - MAMB is a Intermediate Core-Plus Bond fund tracking the Monarch Ambassador Income Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 5 years, MAMB returned 0.29%/yr vs 13.83%/yr for GSG. At a 0.01 correlation, their price movements are largely independent. MAMB charges 1.49%/yr vs 0.75%/yr for GSG.
Performance
MAMB vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, MAMB achieves a 0.15% return, which is significantly lower than GSG's 32.35% return.
MAMB
- 1D
- -0.67%
- 1M
- -1.50%
- 6M
- -0.79%
- YTD
- 0.15%
- 1Y
- 6.18%
- 3Y*
- 4.76%
- 5Y*
- 0.29%
- 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%
MAMB vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MAMB Monarch Ambassador Income ETF | 0.15% | 10.69% | 1.32% | 4.90% | -13.02% | 1.17% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.35% | 5.93% | 8.52% | -5.51% | 24.08% | 25.07% |
Correlation
The correlation between MAMB and GSG is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Mar 24, 2021 | 0.01 |
The correlation between MAMB and GSG shifts across timeframes, from -0.20 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MAMB vs. GSG — Risk / Return Rank
MAMB
GSG
MAMB vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Monarch Ambassador Income ETF (MAMB) 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.
| MAMB | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.27 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 1.85 | -0.10 |
| Martin ratioReturn relative to average drawdown | 4.34 | 6.29 | -1.95 |
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Drawdowns
MAMB vs. GSG - Drawdown Comparison
The maximum MAMB drawdown since its inception was -19.33%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for MAMB and GSG.
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Drawdown Indicators
| MAMB | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.33% | -89.62% | +70.29% |
Max Drawdown (1Y)Largest decline over 1 year | -3.55% | -18.81% | +15.26% |
Max Drawdown (3Y)Largest decline over 3 years | -7.38% | -18.81% | +11.43% |
Max Drawdown (5Y)Largest decline over 5 years | -19.33% | -29.12% | +9.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -3.45% | -60.04% | +56.59% |
Average DrawdownAverage peak-to-trough decline | -7.39% | -63.69% | +56.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 5.51% | -4.08% |
Volatility
MAMB vs. GSG - Volatility Comparison
The current volatility for Monarch Ambassador Income ETF (MAMB) is 1.78%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.35%. This indicates that MAMB 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
| MAMB | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 7.35% | -5.57% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 21.50% | -17.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.76% | 23.48% | -17.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.04% | 22.80% | -15.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.90% | 22.00% | -15.10% |
MAMB vs. GSG - Expense Ratio Comparison
MAMB has a 1.49% expense ratio, which is higher than GSG's 0.75% expense ratio.
Dividends
MAMB vs. GSG - Dividend Comparison
MAMB's dividend yield for the trailing twelve months is around 2.70%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MAMB Monarch Ambassador Income ETF | 2.70% | 2.47% | 2.11% | 1.73% | 0.92% | 0.56% |
Frequently Asked Questions
MAMB and GSG have a correlation of -0.20, 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 MAMB (1.78%). In terms of maximum drawdown, MAMB dropped -19.33% vs GSG's -89.62%.
On 5-year performance, GSG leads with 13.83% vs 0.29% for MAMB. On fees, GSG is cheaper at 0.75% per year. On volatility, MAMB has been the lower-risk option at 1.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GSG has performed better with a 13.83% return vs 0.29%. 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 1.49% for MAMB.
MAMB has the higher dividend yield at 2.70%, compared with 0.00% for GSG.
MAMB is categorized as Intermediate Core-Plus Bond, while GSG is Commodities. MAMB tracks Monarch Ambassador Income Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Monarch and iShares. Their fees differ too: 1.49% for MAMB and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.48 vs 1.08), 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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