PBJA vs. GSG
PBJA (PGIM US Large-Cap Buffer 20 ETF - January) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - PBJA is a Options Trading fund actively managed by PGIM, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. PBJA is actively managed, while GSG is passively managed. Over the past year, PBJA returned 12.51% vs 45.17% for GSG. At a correlation of -0.01, they often move in opposite directions. PBJA charges 0.50%/yr vs 0.75%/yr for GSG.
Performance
PBJA vs. GSG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PBJA achieves a 3.80% return, which is significantly lower than GSG's 36.99% return.
PBJA
- 1D
- -0.64%
- 1M
- 0.42%
- YTD
- 3.80%
- 6M
- 4.44%
- 1Y
- 12.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GSG
- 1D
- -2.47%
- 1M
- -3.81%
- YTD
- 36.99%
- 6M
- 33.63%
- 1Y
- 45.17%
- 3Y*
- 17.71%
- 5Y*
- 14.82%
- 10Y*
- 7.06%
PBJA vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PBJA PGIM US Large-Cap Buffer 20 ETF - January | 3.80% | 10.33% | 12.18% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 36.99% | 5.93% | 9.67% |
Correlation
The correlation between PBJA and GSG is -0.24, 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 | -0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2024 | -0.02 |
Over the past year, the inverse relationship between PBJA and GSG has strengthened: their correlation has moved from -0.01 to -0.24, meaning they now move in opposite directions more often than their long-term average.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PBJA vs. GSG — Risk / Return Rank
PBJA
GSG
PBJA vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM US Large-Cap Buffer 20 ETF - January (PBJA) 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.
| PBJA | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.35 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 4.80 | -1.29 |
| Martin ratioReturn relative to average drawdown | 19.03 | 12.37 | +6.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| PBJA | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.70 | 1.96 | +0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.66 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.72 | -0.09 | +1.81 |
Drawdowns
PBJA vs. GSG - Drawdown Comparison
The maximum PBJA drawdown since its inception was -8.50%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for PBJA and GSG.
Loading charts...
Drawdown Indicators
| PBJA | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.50% | -89.62% | +81.12% |
Max Drawdown (1Y)Largest decline over 1 year | -3.58% | -9.46% | +5.88% |
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 DrawdownCurrent decline from peak | -0.66% | -58.64% | +57.98% |
Average DrawdownAverage peak-to-trough decline | -0.55% | -63.71% | +63.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 3.66% | -3.00% |
Volatility
PBJA vs. GSG - Volatility Comparison
The current volatility for PGIM US Large-Cap Buffer 20 ETF - January (PBJA) is 0.87%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.03%. This indicates that PBJA 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.
Loading charts...
Volatility by Period
| PBJA | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 7.03% | -6.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.77% | 20.66% | -16.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.67% | 23.15% | -18.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.38% | 22.63% | -16.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.38% | 22.04% | -15.66% |
PBJA vs. GSG - Expense Ratio Comparison
PBJA has a 0.50% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
PBJA vs. GSG - Dividend Comparison
Neither PBJA nor GSG has paid dividends to shareholders.
Frequently Asked Questions
PBJA and GSG have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (7.03%) compared to PBJA (0.87%). In terms of maximum drawdown, PBJA dropped -8.50% vs GSG's -89.62%.
On 1-year performance, GSG leads with 45.17% vs 12.51% for PBJA. On fees, PBJA is cheaper at 0.50% per year. On volatility, PBJA has been the lower-risk option at 0.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GSG has performed better with a 45.17% return vs 12.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PBJA is cheaper with a 0.50% expense ratio, compared with 0.75% for GSG.
PBJA and GSG have nearly identical dividend yields, around 0.00%.
PBJA is categorized as Options Trading, while GSG is Commodities. They also come from different issuers: PGIM and iShares. Their fees differ too: 0.50% for PBJA and 0.75% for GSG.
PBJA currently has the higher Sharpe Ratio (2.70 vs 1.96), 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.
Find the right allocation for PBJA and GSG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer