PFLD vs. GSG
PFLD (AAM Low Duration Preferred and Income Securities ETF 144A) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - PFLD is a Preferred Stock/Convertible Bonds fund tracking the ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 5 years, PFLD returned 1.04%/yr vs 15.74%/yr for GSG. At a 0.10 correlation, their price movements are largely independent. PFLD charges 0.45%/yr vs 0.75%/yr for GSG.
Performance
PFLD vs. GSG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PFLD achieves a 2.69% return, which is significantly lower than GSG's 42.58% return.
PFLD
- 1D
- 0.05%
- 1M
- 0.74%
- YTD
- 2.69%
- 6M
- 2.90%
- 1Y
- 6.25%
- 3Y*
- 4.93%
- 5Y*
- 1.04%
- 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%
PFLD vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PFLD AAM Low Duration Preferred and Income Securities ETF 144A | 2.69% | 1.44% | 5.48% | 8.16% | -12.73% | 4.49% | 5.34% | 1.04% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.58% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 5.19% |
Correlation
The correlation between PFLD and GSG is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2019 | 0.10 |
The correlation between PFLD and GSG shifts across timeframes, from -0.16 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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
PFLD vs. GSG — Risk / Return Rank
PFLD
GSG
PFLD vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AAM Low Duration Preferred and Income Securities ETF 144A (PFLD) 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.
| PFLD | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.40 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 5.47 | -2.67 |
| Martin ratioReturn relative to average drawdown | 12.46 | 14.39 | -1.93 |
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
| PFLD | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 2.26 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.70 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | -0.09 | +0.25 |
Drawdowns
PFLD vs. GSG - Drawdown Comparison
The maximum PFLD drawdown since its inception was -33.20%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for PFLD and GSG.
Loading charts...
Drawdown Indicators
| PFLD | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.20% | -89.62% | +56.42% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -9.46% | +7.23% |
Max Drawdown (3Y)Largest decline over 3 years | -6.41% | -14.94% | +8.53% |
Max Drawdown (5Y)Largest decline over 5 years | -15.51% | -29.12% | +13.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | 0.00% | -56.95% | +56.95% |
Average DrawdownAverage peak-to-trough decline | -4.17% | -63.71% | +59.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 3.59% | -3.09% |
Volatility
PFLD vs. GSG - Volatility Comparison
The current volatility for AAM Low Duration Preferred and Income Securities ETF 144A (PFLD) is 0.84%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that PFLD 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
| PFLD | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 7.65% | -6.81% |
Volatility (6M)Calculated over the trailing 6-month period | 2.26% | 20.42% | -18.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.39% | 22.95% | -19.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.50% | 22.61% | -15.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.38% | 22.03% | -8.65% |
PFLD vs. GSG - Expense Ratio Comparison
PFLD has a 0.45% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
PFLD vs. GSG - Dividend Comparison
PFLD's dividend yield for the trailing twelve months is around 5.60%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PFLD AAM Low Duration Preferred and Income Securities ETF 144A | 5.60% | 6.52% | 7.09% | 7.09% | 5.76% | 4.52% | 4.79% | 0.82% |
Frequently Asked Questions
PFLD and GSG have a correlation of -0.16, 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 PFLD (0.84%). In terms of maximum drawdown, PFLD dropped -33.20% vs GSG's -89.62%.
On 5-year performance, GSG leads with 15.74% vs 1.04% for PFLD. On fees, PFLD is cheaper at 0.45% per year. On volatility, PFLD has been the lower-risk option at 0.84%. 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 1.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFLD is cheaper with a 0.45% expense ratio, compared with 0.75% for GSG.
PFLD has the higher dividend yield at 5.60%, compared with 0.00% for GSG.
PFLD is categorized as Preferred Stock/Convertible Bonds, while GSG is Commodities. PFLD tracks ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Advisors Asset Management and iShares. Their fees differ too: 0.45% for PFLD and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (2.26 vs 1.85), 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.
Find the right allocation for PFLD 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