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 7.62%/yr vs 6.69%/yr for GSG. At a 0.14 correlation, their price movements are largely independent.
Performance
NGG vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, NGG achieves a 7.43% return, which is significantly lower than GSG's 26.84% return. Over the past 10 years, NGG has outperformed GSG with an annualized return of 7.62%, while GSG has yielded a comparatively lower 6.69% annualized return.
NGG
- 1D
- 1.93%
- 1M
- -4.05%
- YTD
- 7.43%
- 6M
- 8.75%
- 1Y
- 18.94%
- 3Y*
- 14.45%
- 5Y*
- 11.21%
- 10Y*
- 7.62%
GSG
- 1D
- -0.95%
- 1M
- -12.03%
- YTD
- 26.84%
- 6M
- 26.40%
- 1Y
- 23.99%
- 3Y*
- 14.41%
- 5Y*
- 13.07%
- 10Y*
- 6.69%
NGG vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NGG National Grid plc | 7.43% | 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 | 26.84% | 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 -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 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 -0.19 (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 | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.20 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 1.52 | -0.17 |
| Martin ratioReturn relative to average drawdown | 3.49 | 6.22 | -2.73 |
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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% | -15.88% | +1.73% |
Max Drawdown (3Y)Largest decline over 3 years | -20.76% | -15.88% | -4.88% |
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 | -11.53% | -61.70% | +50.17% |
Average DrawdownAverage peak-to-trough decline | -13.40% | -63.69% | +50.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.44% | 4.46% | +0.98% |
Volatility
NGG vs. GSG - Volatility Comparison
National Grid plc (NGG) has a higher volatility of 6.43% compared to iShares S&P GSCI Commodity-Indexed Trust (GSG) at 5.46%. This indicates that NGG's price experiences larger fluctuations and is considered to be riskier 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 | 6.43% | 5.46% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 17.55% | 20.81% | -3.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.75% | 23.19% | -1.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.14% | 22.66% | -0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.12% | 22.03% | +1.09% |
Dividends
NGG vs. GSG - Dividend Comparison
NGG's dividend yield for the trailing twelve months is around 4.00%, 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 | 4.00% | 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 -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NGG has higher volatility (6.43%) compared to GSG (5.46%). In terms of maximum drawdown, NGG dropped -54.85% vs GSG's -89.62%.
GSG currently has the higher Sharpe Ratio (1.04 vs 0.88), 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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