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MILN vs. GSG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MILN vs. GSG

Last updated Jun 4, 2026

MILN (Global X Millennial Consumer ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - MILN is a Large Cap Growth Equities fund tracking the Indxx Millennials Thematic Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, MILN returned 11.28%/yr vs 7.69%/yr for GSG. At a 0.18 correlation, their price movements are largely independent. MILN charges 0.50%/yr vs 0.75%/yr for GSG.

Performance

MILN vs. GSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Millennial Consumer ETF (MILN) and iShares S&P GSCI Commodity-Indexed Trust (GSG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MILN achieves a -9.79% return, which is significantly lower than GSG's 42.58% return. Over the past 10 years, MILN has outperformed GSG with an annualized return of 11.28%, while GSG has yielded a comparatively lower 7.69% annualized return.

MILN

1D
-1.10%
1M
-3.21%
YTD
-9.79%
6M
-9.62%
1Y
-10.13%
3Y*
11.98%
5Y*
0.79%
10Y*
11.28%

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MILN vs. GSG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MILN
Global X Millennial Consumer ETF		-9.79%4.63%27.11%36.27%-38.55%13.99%44.77%32.24%2.57%24.48%
GSG
iShares S&P GSCI Commodity-Indexed Trust		42.58%5.93%8.52%-5.51%24.08%38.77%-23.94%15.62%-13.88%3.89%

Correlation

The correlation between MILN and GSG is -0.21, 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

-0.21

Correlation (3Y)
Calculated over the trailing 3-year period

-0.01

Correlation (5Y)
Calculated over the trailing 5-year period

0.11

Correlation (10Y)
Calculated over the trailing 10-year period

0.18

Correlation (All Time)
Calculated using the full available price history since May 9, 2016

0.18

The correlation between MILN and GSG shifts across timeframes, from -0.21 (1 year) to 0.18 (10 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Millennial Consumer ETF

iShares S&P GSCI Commodity-Indexed Trust

Often compared with MILN:
MILN vs. KLIPMILN vs. SCHGMILN vs. IVVMILN vs. IYCMILN vs. VOOMILN vs. FMAGMILN vs. SPY
Often compared with GSG:
GSG vs. DBCGSG vs. PDBCGSG vs. COMTGSG vs. VCMDXGSG vs. GLDGSG vs. HGERGSG vs. CGL.TO

Return for Risk

MILN vs. GSG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MILN
MILN Risk / Return Rank: 44
Overall Rank
MILN Sharpe Ratio Rank: 44
Sharpe Ratio Rank
MILN Sortino Ratio Rank: 44
Sortino Ratio Rank
MILN Omega Ratio Rank: 44
Omega Ratio Rank
MILN Calmar Ratio Rank: 55
Calmar Ratio Rank
MILN Martin Ratio Rank: 44
Martin Ratio Rank
GSG
GSG Risk / Return Rank: 7171
Overall Rank
GSG Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
GSG Sortino Ratio Rank: 6060
Sortino Ratio Rank
GSG Omega Ratio Rank: 6565
Omega Ratio Rank
GSG Calmar Ratio Rank: 8989
Calmar Ratio Rank
GSG Martin Ratio Rank: 7575
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MILN vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Millennial Consumer ETF (MILN) 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.

MILNGSGDifference
Sharpe ratioReturn per unit of total volatility
-0.60
2.26

-2.85

Sortino ratioReturn per unit of downside risk
-0.73
2.88

-3.60

Omega ratioGain probability vs. loss probability

0.91

1.40

-0.49

Calmar ratioReturn relative to maximum drawdown

-0.46

5.47

-5.93

Martin ratioReturn relative to average drawdown

-1.03

14.39

-15.42

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MILN vs. GSG - Sharpe Ratio Comparison

The current MILN Sharpe Ratio is -0.60, which is lower than the GSG Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of MILN and GSG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

MILNGSGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.60

2.26

-2.85

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.04

0.70

-0.66

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

0.35

+0.16

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

-0.09

+0.60

Drawdowns

MILN vs. GSG - Drawdown Comparison

The maximum MILN drawdown since its inception was -44.40%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for MILN and GSG.

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Drawdown Indicators

MILNGSGDifference

Max Drawdown

Largest peak-to-trough decline

-44.40%

-89.62%

+45.22%

Max Drawdown (1Y)

Largest decline over 1 year

-22.32%

-9.46%

-12.86%

Max Drawdown (3Y)

Largest decline over 3 years

-23.48%

-14.94%

-8.54%

Max Drawdown (5Y)

Largest decline over 5 years

-44.40%

-29.12%

-15.28%

Max Drawdown (10Y)

Largest decline over 10 years

-44.40%

-57.64%

+13.24%

Current Drawdown

Current decline from peak

-16.36%

-56.95%

+40.59%

Average Drawdown

Average peak-to-trough decline

-10.67%

-63.71%

+53.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.87%

3.59%

+6.28%

Volatility

MILN vs. GSG - Volatility Comparison

The current volatility for Global X Millennial Consumer ETF (MILN) is 4.43%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that MILN 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

MILNGSGDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.43%

7.65%

-3.22%

Volatility (6M)

Calculated over the trailing 6-month period

12.93%

20.42%

-7.49%

Volatility (1Y)

Calculated over the trailing 1-year period

17.06%

22.95%

-5.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.63%

22.61%

+0.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.02%

22.03%

-0.01%

MILN vs. GSG - Expense Ratio Comparison

MILN has a 0.50% expense ratio, which is lower than GSG's 0.75% expense ratio.

Dividends

MILN vs. GSG - Dividend Comparison

MILN's dividend yield for the trailing twelve months is around 0.28%, while GSG has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
GSG
iShares S&P GSCI Commodity-Indexed Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
MILN
Global X Millennial Consumer ETF		0.28%0.25%0.22%0.33%0.24%0.15%0.21%0.43%0.43%0.89%0.32%

Frequently Asked Questions

MILN and GSG have a correlation of -0.21, 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 MILN (4.43%). In terms of maximum drawdown, MILN dropped -44.40% vs GSG's -89.62%.

On 10-year performance, MILN leads with 11.28% vs 7.69% for GSG. On fees, MILN is cheaper at 0.50% per year. On volatility, MILN has been the lower-risk option at 4.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, MILN has performed better with a 11.28% return vs 7.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

MILN is cheaper with a 0.50% expense ratio, compared with 0.75% for GSG.

MILN has the higher dividend yield at 0.28%, compared with 0.00% for GSG.

MILN is categorized as Large Cap Growth Equities, while GSG is Commodities. MILN tracks Indxx Millennials Thematic Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.50% for MILN and 0.75% for GSG.

GSG currently has the higher Sharpe Ratio (2.26 vs -0.60), 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.

Portfolio Optimizer

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