NGG vs. GSG
NGG (National Grid plc) is a stock, while GSG (iShares S&P GSCI Commodity-Indexed Trust) is Commodities fund tracking the S&P GSCI Total Return Index. Over the past 10 years, NGG returned 6.81%/yr vs 8.91%/yr for GSG. Their 0.14 correlation means their historical movements had little consistent relationship.
Performance
NGG vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, NGG achieves a 6.11% return, which is significantly lower than GSG's 38.94% return. Over the past 10 years, NGG has underperformed GSG with an annualized return of 6.81%, while GSG has yielded a comparatively higher 8.91% annualized return.
NGG
- 1D
- -0.52%
- 1M
- -3.48%
- 6M
- -3.75%
- YTD
- 6.11%
- 1Y
- 15.90%
- 3Y*
- 14.50%
- 5Y*
- 11.07%
- 10Y*
- 6.81%
- ALL TIME*
- 8.33%
GSG
- 1D
- 0.28%
- 1M
- 12.94%
- 6M
- 25.75%
- YTD
- 38.94%
- 1Y
- 42.34%
- 3Y*
- 14.13%
- 5Y*
- 14.47%
- 10Y*
- 8.91%
- ALL TIME*
- -2.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.60M | $17.31M | $26.52M | |
| $62.39M | $64.89M | $105.15M |
NGG vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NGG National Grid plc | 6.11% | 35.88% | -1.26% | 18.82% | -12.68% | 29.02% | -0.75% | 38.53% | -13.76% | 4.94% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 38.94% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between NGG and GSG is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.13 |
Correlation (3Y) Balances recent behavior with more history. | -0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jul 21, 2006 | 0.14 |
The correlation between NGG and GSG shifts across timeframes, from -0.13 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NGG vs. GSG — Risk / Return Rank
NGG
GSG
NGG vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for National Grid plc (NGG) 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.
| NGG | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.29 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 2.16 | -0.87 |
| Martin ratioReturn relative to average drawdown | 3.02 | 6.99 | -3.97 |
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Drawdowns
NGG vs. GSG - Drawdown Comparison
The maximum NGG drawdown since its inception was -54.85%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for NGG and GSG.
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Drawdown Indicators
| NGG | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.85% | -89.62% | +34.77% |
Max Drawdown (1Y)Largest decline over 1 year | -14.15% | -18.81% | +4.66% |
Max Drawdown (3Y)Largest decline over 3 years | -20.76% | -18.81% | -1.95% |
Max Drawdown (5Y)Largest decline over 5 years | -39.20% | -29.12% | -10.08% |
Max Drawdown (10Y)Largest decline over 10 years | -39.20% | -57.64% | +18.44% |
Current DrawdownCurrent decline from peak | -12.62% | -58.05% | +45.43% |
Average DrawdownAverage peak-to-trough decline | -13.39% | -63.67% | +50.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.06% | 5.84% | +0.22% |
Volatility
NGG vs. GSG - Volatility Comparison
The current volatility for National Grid plc (NGG) is 6.64%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 8.11%. This indicates that NGG 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
| NGG | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.64% | 8.11% | -1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 18.30% | 22.18% | -3.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.46% | 24.23% | -2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.32% | 22.86% | -0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.03% | 22.06% | +0.97% |
Dividends
NGG vs. GSG - Dividend Comparison
NGG's dividend yield for the trailing twelve months is around 4.05%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
NGG National Grid plc | 4.05% | 4.03% | 11.81% | 5.20% | 5.18% | 4.75% | 5.32% | 4.94% | 6.51% | 14.95% | 5.07% | 4.73% |
Frequently Asked Questions
NGG and GSG have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (8.11%) compared to NGG (6.64%). In terms of maximum drawdown, NGG dropped -54.85% vs GSG's -89.62%.
GSG currently has the higher Sharpe Ratio (1.68 vs 0.85), 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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