NXTE vs. GSG
NXTE (Axs Green Alpha ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - NXTE is a Global Equities fund actively managed by AXS, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. NXTE is actively managed, while GSG is passively managed. Over the past 3 years, NXTE returned 18.63%/yr vs 19.31%/yr for GSG. At a 0.11 correlation, their price movements are largely independent. NXTE charges 1.00%/yr vs 0.75%/yr for GSG.
Performance
NXTE vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, NXTE achieves a 36.11% return, which is significantly lower than GSG's 42.58% return.
NXTE
- 1D
- -0.62%
- 1M
- 17.52%
- YTD
- 36.11%
- 6M
- 34.91%
- 1Y
- 64.20%
- 3Y*
- 18.63%
- 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%
NXTE vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NXTE Axs Green Alpha ETF | 36.11% | 21.84% | -3.42% | 13.85% | -1.33% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.58% | 5.93% | 8.52% | -5.51% | 1.68% |
Correlation
The correlation between NXTE 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 | 0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.11 |
The correlation between NXTE and GSG shifts across timeframes, from -0.19 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NXTE vs. GSG — Risk / Return Rank
NXTE
GSG
NXTE vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Axs Green Alpha ETF (NXTE) 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.
| NXTE | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.40 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.72 | 5.47 | -0.76 |
| Martin ratioReturn relative to average drawdown | 15.12 | 14.39 | +0.73 |
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
| NXTE | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.63 | 2.26 | +0.38 |
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 | 0.67 | -0.09 | +0.76 |
Drawdowns
NXTE vs. GSG - Drawdown Comparison
The maximum NXTE drawdown since its inception was -28.64%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for NXTE and GSG.
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Drawdown Indicators
| NXTE | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.64% | -89.62% | +60.98% |
Max Drawdown (1Y)Largest decline over 1 year | -13.68% | -9.46% | -4.22% |
Max Drawdown (3Y)Largest decline over 3 years | -27.24% | -14.94% | -12.30% |
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 | -0.62% | -56.95% | +56.33% |
Average DrawdownAverage peak-to-trough decline | -7.88% | -63.71% | +55.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.26% | 3.59% | +0.67% |
Volatility
NXTE vs. GSG - Volatility Comparison
Axs Green Alpha ETF (NXTE) has a higher volatility of 9.27% compared to iShares S&P GSCI Commodity-Indexed Trust (GSG) at 7.65%. This indicates that NXTE'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
| NXTE | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.27% | 7.65% | +1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 19.29% | 20.42% | -1.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.53% | 22.95% | +1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.99% | 22.61% | +3.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.99% | 22.03% | +3.96% |
NXTE vs. GSG - Expense Ratio Comparison
NXTE has a 1.00% expense ratio, which is higher than GSG's 0.75% expense ratio.
Dividends
NXTE vs. GSG - Dividend Comparison
NXTE's dividend yield for the trailing twelve months is around 0.37%, 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% |
NXTE Axs Green Alpha ETF | 0.37% | 0.36% | 0.52% | 0.76% | 0.13% |
Frequently Asked Questions
NXTE 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.
NXTE has higher volatility (9.27%) compared to GSG (7.65%). In terms of maximum drawdown, NXTE dropped -28.64% vs GSG's -89.62%.
On 3-year performance, GSG leads with 19.31% vs 18.63% for NXTE. On fees, GSG is cheaper at 0.75% per year. On volatility, GSG has been the lower-risk option at 7.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GSG has performed better with a 19.31% return vs 18.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSG is cheaper with a 0.75% expense ratio, compared with 1.00% for NXTE.
NXTE has the higher dividend yield at 0.37%, compared with 0.00% for GSG.
NXTE is categorized as Global Equities, while GSG is Commodities. They also come from different issuers: AXS and iShares. Their fees differ too: 1.00% for NXTE and 0.75% for GSG.
NXTE currently has the higher Sharpe Ratio (2.63 vs 2.26), 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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