MILN vs. GSG
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 11.30%/yr vs 7.40%/yr for GSG. At a 0.17 correlation, their price movements are largely independent. MILN charges 0.50%/yr vs 0.75%/yr for GSG.
Performance
MILN vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, MILN achieves a -4.59% return, which is significantly lower than GSG's 32.35% return. Over the past 10 years, MILN has outperformed GSG with an annualized return of 11.30%, while GSG has yielded a comparatively lower 7.40% annualized return.
MILN
- 1D
- -0.09%
- 1M
- 5.32%
- 6M
- -7.09%
- YTD
- -4.59%
- 1Y
- -7.84%
- 3Y*
- 10.68%
- 5Y*
- 0.83%
- 10Y*
- 11.30%
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%
MILN vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MILN Global X Millennial Consumer ETF | -4.59% | 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 | 32.35% | 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 -0.23, 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 | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since May 6, 2016 | 0.17 |
The correlation between MILN and GSG shifts across timeframes, from -0.23 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MILN vs. GSG — Risk / Return Rank
MILN
GSG
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.
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.
| MILN | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.92 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.27 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 1.85 | -2.20 |
| Martin ratioReturn relative to average drawdown | -0.72 | 6.29 | -7.01 |
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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
| MILN | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.40% | -89.62% | +45.22% |
Max Drawdown (1Y)Largest decline over 1 year | -22.32% | -18.81% | -3.51% |
Max Drawdown (3Y)Largest decline over 3 years | -23.48% | -18.81% | -4.67% |
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 DrawdownCurrent decline from peak | -11.54% | -60.04% | +48.50% |
Average DrawdownAverage peak-to-trough decline | -10.70% | -63.69% | +52.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.89% | 5.51% | +5.38% |
Volatility
MILN vs. GSG - Volatility Comparison
The current volatility for Global X Millennial Consumer ETF (MILN) is 6.36%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.35%. 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
| MILN | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 7.35% | -0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 14.17% | 21.50% | -7.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 23.48% | -5.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.77% | 22.80% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.04% | 22.00% | +0.04% |
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 0.31%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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 | 0.31% | 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 -0.23, 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 MILN (6.36%). In terms of maximum drawdown, MILN dropped -44.40% vs GSG's -89.62%.
On 10-year performance, MILN leads with 11.30% vs 7.40% for GSG. On fees, MILN is cheaper at 0.50% per year. On volatility, MILN has been the lower-risk option at 6.36%. 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 11.30% return vs 7.40%. 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 0.31%, 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 (1.48 vs -0.44), 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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