PINK vs. GSG

Last updated Jun 3, 2026

PINK (Simplify Health Care ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - PINK is a Health & Biotech Equities fund actively managed by Simplify, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. PINK is actively managed, while GSG is passively managed. Over the past 3 years, PINK returned 13.94%/yr vs 19.01%/yr for GSG. At a 0.00 correlation, their price movements are largely independent. PINK charges 0.50%/yr vs 0.75%/yr for GSG.

Performance

PINK vs. GSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Health Care ETF (PINK) and iShares S&P GSCI Commodity-Indexed Trust (GSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PINK achieves a 1.14% return, which is significantly lower than GSG's 41.50% return.

PINK

• 1D: -1.18%
• 1M: 5.87%
• YTD: 1.14%
• 6M: 2.05%
• 1Y: 30.58%
• 3Y*: 13.94%
• 5Y*: —
• 10Y*: —

GSG

• 1D: 0.49%
• 1M: -3.72%
• YTD: 41.50%
• 6M: 40.89%
• 1Y: 51.06%
• 3Y*: 19.01%
• 5Y*: 15.80%
• 10Y*: 7.61%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PINK vs. GSG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PINK Simplify Health Care ETF	1.14%	24.34%	8.81%	3.80%	-4.41%	12.20%
GSG iShares S&P GSCI Commodity-Indexed Trust	41.50%	5.93%	8.52%	-5.51%	24.08%	-2.28%

Correlation

The correlation between PINK and GSG is -0.29, 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	-0.29
Correlation (3Y) Calculated over the trailing 3-year period	-0.12
Correlation (All Time) Calculated using the full available price history since Oct 11, 2021	0.00

The correlation between PINK and GSG shifts across timeframes, from -0.29 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PINK vs. GSG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PINK

PINK Risk / Return Rank: 43
PINK Sharpe Ratio Rank: 48
PINK Sortino Ratio Rank: 50
PINK Omega Ratio Rank: 44
PINK Calmar Ratio Rank: 37
PINK Martin Ratio Rank: 36

GSG

GSG Risk / Return Rank: 72
GSG Sharpe Ratio Rank: 67
GSG Sortino Ratio Rank: 60
GSG Omega Ratio Rank: 66
GSG Calmar Ratio Rank: 90
GSG Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PINK vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Health Care ETF (PINK) 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.

	PINK	GSG	Difference
Sharpe ratio Return per unit of total volatility	1.69	2.24	-0.54
Sortino ratio Return per unit of downside risk	2.45	2.86	-0.41
Omega ratio Gain probability vs. loss probability	1.29	1.40	-0.11
Calmar ratio Return relative to maximum drawdown	1.88	5.72	-3.85
Martin ratio Return relative to average drawdown	5.66	15.15	-9.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PINK vs. GSG - Sharpe Ratio Comparison

The current PINK Sharpe Ratio is 1.69, which is comparable to the GSG Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of PINK and GSG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PINK	GSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	2.24	-0.54
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	0.54	-0.09	+0.63

Drawdowns

PINK vs. GSG - Drawdown Comparison

The maximum PINK drawdown since its inception was -18.77%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for PINK and GSG.

Drawdown Indicators

	PINK	GSG	Difference
Max Drawdown Largest peak-to-trough decline	-18.77%	-89.62%	+70.85%
Max Drawdown (1Y) Largest decline over 1 year	-16.81%	-9.46%	-7.35%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-14.94%	-3.83%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-57.64%	—
Current Drawdown Current decline from peak	-4.03%	-57.28%	+53.25%
Average Drawdown Average peak-to-trough decline	-6.75%	-63.72%	+56.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.57%	3.57%	+2.00%

Volatility

PINK vs. GSG - Volatility Comparison

The current volatility for Simplify Health Care ETF (PINK) is 4.27%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.89%. This indicates that PINK 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.

Volatility by Period

	PINK	GSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	7.89%	-3.62%
Volatility (6M) Calculated over the trailing 6-month period	13.65%	20.41%	-6.76%
Volatility (1Y) Calculated over the trailing 1-year period	18.14%	23.01%	-4.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.57%	22.61%	-5.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.57%	22.03%	-4.46%

PINK vs. GSG - Expense Ratio Comparison

PINK has a 0.50% expense ratio, which is lower than GSG's 0.75% expense ratio.

Dividends

PINK vs. GSG - Dividend Comparison

PINK's dividend yield for the trailing twelve months is around 0.68%, while GSG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
GSG iShares S&P GSCI Commodity-Indexed Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PINK Simplify Health Care ETF	0.68%	0.68%	0.32%	0.94%	0.42%	0.04%

Frequently Asked Questions

Can I hold both PINK and GSG in my portfolio?

PINK and GSG have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PINK or GSG?

GSG has higher volatility (7.89%) compared to PINK (4.27%). In terms of maximum drawdown, PINK dropped -18.77% vs GSG's -89.62%.

Which ETF is better, PINK or GSG?

On 3-year performance, GSG leads with 19.01% vs 13.94% for PINK. On fees, PINK is cheaper at 0.50% per year. On volatility, PINK has been the lower-risk option at 4.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PINK or GSG?

Over the 3-year period, GSG has performed better with a 19.01% return vs 13.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PINK or GSG?

PINK is cheaper with a 0.50% expense ratio, compared with 0.75% for GSG.

Which ETF pays a higher dividend yield, PINK or GSG?

PINK has the higher dividend yield at 0.68%, compared with 0.00% for GSG.

What is the main difference between PINK and GSG?

PINK is categorized as Health & Biotech Equities, while GSG is Commodities. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.50% for PINK and 0.75% for GSG.

Which has better risk-adjusted returns?

GSG currently has the higher Sharpe Ratio (2.24 vs 1.69), 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.