NEHI vs. GSG

Last updated Jun 4, 2026

NEHI (NEOS Ethereum High Income ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - NEHI is a Cryptocurrency fund actively managed by Neos, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. NEHI is actively managed, while GSG is passively managed. At a correlation of -0.14, they often move in opposite directions. NEHI charges 0.98%/yr vs 0.75%/yr for GSG.

Performance

NEHI vs. GSG - Performance Comparison

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

Returns By Period

In the year-to-date period, NEHI achieves a -35.82% return, which is significantly lower than GSG's 42.58% return.

NEHI

• 1D: -5.42%
• 1M: -21.57%
• YTD: -35.82%
• 6M: -37.76%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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%

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

NEHI vs. GSG - Yearly Performance Comparison

	2026 (YTD)	2025
NEHI NEOS Ethereum High Income ETF	-35.82%	-3.02%
GSG iShares S&P GSCI Commodity-Indexed Trust	42.58%	-1.07%

Correlation

The correlation between NEHI and GSG is -0.14, 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 (All Time) Calculated using the full available price history since Dec 4, 2025	-0.14

Return for Risk

NEHI vs. GSG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GSG

GSG Risk / Return Rank: 71
GSG Sharpe Ratio Rank: 67
GSG Sortino Ratio Rank: 60
GSG Omega Ratio Rank: 65
GSG Calmar Ratio Rank: 89
GSG Martin Ratio Rank: 75

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.

NEHI vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Ethereum High Income ETF (NEHI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	NEHI	GSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.26	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.08	-0.09	-1.00

Drawdowns

NEHI vs. GSG - Drawdown Comparison

The maximum NEHI drawdown since its inception was -42.60%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for NEHI and GSG.

Drawdown Indicators

	NEHI	GSG	Difference
Max Drawdown Largest peak-to-trough decline	-42.60%	-89.62%	+47.02%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.46%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-57.64%	—
Current Drawdown Current decline from peak	-42.60%	-56.95%	+14.35%
Average Drawdown Average peak-to-trough decline	-25.09%	-63.71%	+38.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.59%	—

Volatility

Volatility by Period

	NEHI	GSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.65%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	57.40%	22.95%	+34.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.40%	22.61%	+34.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.40%	22.03%	+35.37%

NEHI vs. GSG - Expense Ratio Comparison

NEHI has a 0.98% expense ratio, which is higher than GSG's 0.75% expense ratio.

Dividends

NEHI vs. GSG - Dividend Comparison

NEHI's dividend yield for the trailing twelve months is around 24.35%, while GSG has not paid dividends to shareholders.

Position	TTM	2025
GSG iShares S&P GSCI Commodity-Indexed Trust	0.00%	0.00%
NEHI NEOS Ethereum High Income ETF	24.35%	2.87%

Frequently Asked Questions

Can I hold both NEHI and GSG in my portfolio?

NEHI and GSG have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NEHI or GSG?

On fees, GSG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NEHI or GSG?

GSG is cheaper with a 0.75% expense ratio, compared with 0.98% for NEHI.

Which ETF pays a higher dividend yield, NEHI or GSG?

NEHI has the higher dividend yield at 24.35%, compared with 0.00% for GSG.

What is the main difference between NEHI and GSG?

NEHI is categorized as Cryptocurrency, while GSG is Commodities. They also come from different issuers: Neos and iShares. Their fees differ too: 0.98% for NEHI and 0.75% for GSG.