MODL vs. GSG
MODL (Victoryshares Westend U.S. Sector ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - MODL is a Large Cap Blend Equities fund actively managed by Victory, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. MODL is actively managed, while GSG is passively managed. Over the past 3 years, MODL returned 19.02%/yr vs 15.01%/yr for GSG. At a 0.03 correlation, their price movements are largely independent. MODL charges 0.46%/yr vs 0.75%/yr for GSG.
Performance
MODL vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, MODL achieves a 8.82% return, which is significantly lower than GSG's 34.43% return.
MODL
- 1D
- 0.26%
- 1M
- 2.48%
- 6M
- 7.78%
- YTD
- 8.82%
- 1Y
- 19.84%
- 3Y*
- 19.02%
- 5Y*
- —
- 10Y*
- —
GSG
- 1D
- 1.57%
- 1M
- 1.37%
- 6M
- 28.74%
- YTD
- 34.43%
- 1Y
- 38.08%
- 3Y*
- 15.01%
- 5Y*
- 14.34%
- 10Y*
- 7.57%
MODL vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MODL Victoryshares Westend U.S. Sector ETF | 8.82% | 18.99% | 24.73% | 23.74% | 6.45% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 34.43% | 5.93% | 8.52% | -5.51% | -3.37% |
Correlation
The correlation between MODL 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 | -0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022 | 0.03 |
The correlation between MODL and GSG shifts across timeframes, from -0.21 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MODL vs. GSG — Risk / Return Rank
MODL
GSG
MODL vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Victoryshares Westend U.S. Sector ETF (MODL) 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.
| MODL | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.29 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 2.03 | +0.07 |
| Martin ratioReturn relative to average drawdown | 9.23 | 6.88 | +2.35 |
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Drawdowns
MODL vs. GSG - Drawdown Comparison
The maximum MODL drawdown since its inception was -17.60%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for MODL and GSG.
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Drawdown Indicators
| MODL | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.60% | -89.62% | +72.02% |
Max Drawdown (1Y)Largest decline over 1 year | -9.46% | -18.81% | +9.35% |
Max Drawdown (3Y)Largest decline over 3 years | -17.60% | -18.81% | +1.21% |
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 | -0.34% | -59.41% | +59.07% |
Average DrawdownAverage peak-to-trough decline | -2.01% | -63.69% | +61.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 5.55% | -3.39% |
Volatility
MODL vs. GSG - Volatility Comparison
The current volatility for Victoryshares Westend U.S. Sector ETF (MODL) is 3.27%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.37%. This indicates that MODL 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
| MODL | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 7.37% | -4.10% |
Volatility (6M)Calculated over the trailing 6-month period | 9.24% | 21.54% | -12.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.63% | 23.48% | -11.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.56% | 22.80% | -8.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.56% | 22.00% | -7.44% |
MODL vs. GSG - Expense Ratio Comparison
MODL has a 0.46% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
MODL vs. GSG - Dividend Comparison
MODL's dividend yield for the trailing twelve months is around 0.69%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MODL Victoryshares Westend U.S. Sector ETF | 0.69% | 0.67% | 0.83% | 1.02% | 0.39% |
Frequently Asked Questions
MODL 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 (7.37%) compared to MODL (3.27%). In terms of maximum drawdown, MODL dropped -17.60% vs GSG's -89.62%.
On 3-year performance, MODL leads with 19.02% vs 15.01% for GSG. On fees, MODL is cheaper at 0.46% per year. On volatility, MODL has been the lower-risk option at 3.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MODL has performed better with a 19.02% return vs 15.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MODL is cheaper with a 0.46% expense ratio, compared with 0.75% for GSG.
MODL has the higher dividend yield at 0.69%, compared with 0.00% for GSG.
MODL is categorized as Large Cap Blend Equities, while GSG is Commodities. They also come from different issuers: Victory and iShares. Their fees differ too: 0.46% for MODL and 0.75% for GSG.
MODL currently has the higher Sharpe Ratio (1.71 vs 1.63), 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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