MINN vs. GSG
MINN (Mairs & Power Minnesota Municipal Bond ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - MINN is a Municipal Bonds fund actively managed by Mairs & Power, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. MINN is actively managed, while GSG is passively managed. Over the past 5 years, MINN returned -0.31%/yr vs 15.74%/yr for GSG. At a correlation of -0.05, they often move in opposite directions. MINN charges 0.25%/yr vs 0.75%/yr for GSG.
Performance
MINN vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, MINN achieves a 0.35% return, which is significantly lower than GSG's 42.58% return.
MINN
- 1D
- -0.11%
- 1M
- 0.30%
- YTD
- 0.35%
- 6M
- 0.92%
- 1Y
- 6.52%
- 3Y*
- 3.64%
- 5Y*
- -0.31%
- 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%
MINN vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MINN Mairs & Power Minnesota Municipal Bond ETF | 0.35% | 5.61% | 0.21% | 5.41% | -12.27% | 1.28% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.58% | 5.93% | 8.52% | -5.51% | 24.08% | 16.55% |
Correlation
The correlation between MINN 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 | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2021 | -0.05 |
The correlation between MINN and GSG shifts across timeframes, from -0.21 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MINN vs. GSG — Risk / Return Rank
MINN
GSG
MINN vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mairs & Power Minnesota Municipal Bond ETF (MINN) 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.
| MINN | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.40 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 5.47 | -3.15 |
| Martin ratioReturn relative to average drawdown | 7.47 | 14.39 | -6.93 |
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
| MINN | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.51 | 2.26 | -0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | 0.70 | -0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.02 | -0.09 | +0.07 |
Drawdowns
MINN vs. GSG - Drawdown Comparison
The maximum MINN drawdown since its inception was -18.37%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for MINN and GSG.
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Drawdown Indicators
| MINN | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.37% | -89.62% | +71.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -9.46% | +6.64% |
Max Drawdown (3Y)Largest decline over 3 years | -6.77% | -14.94% | +8.17% |
Max Drawdown (5Y)Largest decline over 5 years | -18.37% | -29.12% | +10.75% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -2.60% | -56.95% | +54.35% |
Average DrawdownAverage peak-to-trough decline | -7.78% | -63.71% | +55.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 3.59% | -2.71% |
Volatility
MINN vs. GSG - Volatility Comparison
The current volatility for Mairs & Power Minnesota Municipal Bond ETF (MINN) is 0.99%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that MINN 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
| MINN | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 7.65% | -6.66% |
Volatility (6M)Calculated over the trailing 6-month period | 2.60% | 20.42% | -17.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.33% | 22.95% | -18.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.09% | 22.61% | -17.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 22.03% | -17.05% |
MINN vs. GSG - Expense Ratio Comparison
MINN has a 0.25% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
MINN vs. GSG - Dividend Comparison
MINN's dividend yield for the trailing twelve months is around 3.00%, 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% |
MINN Mairs & Power Minnesota Municipal Bond ETF | 3.00% | 2.94% | 2.65% | 1.80% | 1.34% | 0.64% |
Frequently Asked Questions
MINN 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 MINN (0.99%). In terms of maximum drawdown, MINN dropped -18.37% vs GSG's -89.62%.
On 5-year performance, GSG leads with 15.74% vs -0.31% for MINN. On fees, MINN is cheaper at 0.25% per year. On volatility, MINN has been the lower-risk option at 0.99%. 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 15.74% return vs -0.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MINN is cheaper with a 0.25% expense ratio, compared with 0.75% for GSG.
MINN has the higher dividend yield at 3.00%, compared with 0.00% for GSG.
MINN is categorized as Municipal Bonds, while GSG is Commodities. They also come from different issuers: Mairs & Power and iShares. Their fees differ too: 0.25% for MINN and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (2.26 vs 1.51), 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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