NUAG vs. GSG
NUAG (Nuveen Enhanced Yield U.S. Aggregate Bond ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - NUAG is a Intermediate Core Bond fund tracking the ICE BofA Enhanced Yield US Broad Bond, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 5 years, NUAG returned 0.47%/yr vs 15.74%/yr for GSG. At a correlation of -0.08, they often move in opposite directions. NUAG charges 0.19%/yr vs 0.75%/yr for GSG.
Performance
NUAG vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, NUAG achieves a 0.50% return, which is significantly lower than GSG's 42.58% return.
NUAG
- 1D
- -0.19%
- 1M
- 0.41%
- YTD
- 0.50%
- 6M
- 0.32%
- 1Y
- 5.90%
- 3Y*
- 4.89%
- 5Y*
- 0.47%
- 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%
NUAG vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NUAG Nuveen Enhanced Yield U.S. Aggregate Bond ETF | 0.50% | 7.37% | 2.02% | 7.52% | -13.97% | -2.03% | 7.48% | 10.13% | -1.45% | 3.98% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.58% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between NUAG and GSG is -0.36, 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 | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2016 | -0.08 |
Over the past year, the inverse relationship between NUAG and GSG has strengthened: their correlation has moved from -0.08 to -0.36, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
NUAG vs. GSG — Risk / Return Rank
NUAG
GSG
NUAG vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Enhanced Yield U.S. Aggregate Bond ETF (NUAG) 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.
| NUAG | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.40 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 5.47 | -3.15 |
| Martin ratioReturn relative to average drawdown | 7.06 | 14.39 | -7.34 |
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
| NUAG | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 2.26 | -0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.70 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | -0.09 | +0.40 |
Drawdowns
NUAG vs. GSG - Drawdown Comparison
The maximum NUAG drawdown since its inception was -19.79%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for NUAG and GSG.
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Drawdown Indicators
| NUAG | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.79% | -89.62% | +69.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.54% | -9.46% | +6.92% |
Max Drawdown (3Y)Largest decline over 3 years | -5.61% | -14.94% | +9.33% |
Max Drawdown (5Y)Largest decline over 5 years | -19.19% | -29.12% | +9.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -1.23% | -56.95% | +55.72% |
Average DrawdownAverage peak-to-trough decline | -4.95% | -63.71% | +58.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 3.59% | -2.75% |
Volatility
NUAG vs. GSG - Volatility Comparison
The current volatility for Nuveen Enhanced Yield U.S. Aggregate Bond ETF (NUAG) is 1.15%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that NUAG 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
| NUAG | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 7.65% | -6.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.59% | 20.42% | -17.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 22.95% | -19.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.01% | 22.61% | -16.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.49% | 22.03% | -16.54% |
NUAG vs. GSG - Expense Ratio Comparison
NUAG has a 0.19% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
NUAG vs. GSG - Dividend Comparison
NUAG's dividend yield for the trailing twelve months is around 4.50%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
NUAG Nuveen Enhanced Yield U.S. Aggregate Bond ETF | 4.50% | 4.43% | 4.44% | 3.95% | 3.60% | 2.27% | 2.93% | 3.54% | 3.79% | 3.38% | 0.48% |
Frequently Asked Questions
NUAG and GSG have a correlation of -0.36, 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 NUAG (1.15%). In terms of maximum drawdown, NUAG dropped -19.79% vs GSG's -89.62%.
On 5-year performance, GSG leads with 15.74% vs 0.47% for NUAG. On fees, NUAG is cheaper at 0.19% per year. On volatility, NUAG has been the lower-risk option at 1.15%. 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 0.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NUAG is cheaper with a 0.19% expense ratio, compared with 0.75% for GSG.
NUAG has the higher dividend yield at 4.50%, compared with 0.00% for GSG.
NUAG is categorized as Intermediate Core Bond, while GSG is Commodities. NUAG tracks ICE BofA Enhanced Yield US Broad Bond, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Nuveen and iShares. Their fees differ too: 0.19% for NUAG and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (2.26 vs 1.65), 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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