PIT vs. GRN

Last updated Apr 1, 2026

Compare and contrast key facts about VanEck Commodity Strategy ETF (PIT) and iPath Series B Carbon ETN (GRN).

PIT and GRN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PIT is an actively managed fund by VanEck. It was launched on Dec 20, 2022. GRN is a passively managed fund by Barclays Capital that tracks the performance of the Barclays Global Carbon II Index. It was launched on Sep 10, 2019.

Performance

PIT vs. GRN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Commodity Strategy ETF (PIT) and iPath Series B Carbon ETN (GRN). The values are adjusted to include any dividend payments, if applicable.

PIT vs. GRN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PIT VanEck Commodity Strategy ETF	37.04%	21.63%	6.77%	-4.54%	2.74%
GRN iPath Series B Carbon ETN	-16.12%	20.33%	-7.34%	-2.99%	-7.86%

Returns By Period

In the year-to-date period, PIT achieves a 37.04% return, which is significantly higher than GRN's -16.12% return.

PIT

• 1D: -0.55%
• 1M: 18.54%
• YTD: 37.04%
• 6M: 43.92%
• 1Y: 54.67%
• 3Y*: 21.59%
• 5Y*: —
• 10Y*: —

GRN

• 1D: 1.04%
• 1M: 4.57%
• YTD: -16.12%
• 6M: -4.84%
• 1Y: 7.43%
• 3Y*: -7.04%
• 5Y*: 11.37%
• 10Y*: —

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

PIT vs. GRN - Expense Ratio Comparison

PIT has a 0.55% expense ratio, which is lower than GRN's 0.75% expense ratio.

GRN

iPath Series B Carbon ETN

PIT

VanEck Commodity Strategy ETF

Return for Risk

PIT vs. GRN — Risk / Return Rank

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

PIT

PIT Risk / Return Rank: 96
PIT Sharpe Ratio Rank: 96
PIT Sortino Ratio Rank: 96
PIT Omega Ratio Rank: 95
PIT Calmar Ratio Rank: 97
PIT Martin Ratio Rank: 96

GRN

GRN Risk / Return Rank: 19
GRN Sharpe Ratio Rank: 19
GRN Sortino Ratio Rank: 21
GRN Omega Ratio Rank: 20
GRN Calmar Ratio Rank: 17
GRN Martin Ratio Rank: 17

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.

PIT vs. GRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Commodity Strategy ETF (PIT) and iPath Series B Carbon ETN (GRN). 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.

	PIT	GRN	Difference
Sharpe ratio Return per unit of total volatility	2.59	0.25	+2.33
Sortino ratio Return per unit of downside risk	3.18	0.55	+2.63
Omega ratio Gain probability vs. loss probability	1.46	1.07	+0.40
Calmar ratio Return relative to maximum drawdown	4.85	0.22	+4.63
Martin ratio Return relative to average drawdown	17.48	0.71	+16.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PIT vs. GRN - Sharpe Ratio Comparison

The current PIT Sharpe Ratio is 2.59, which is higher than the GRN Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of PIT and GRN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PIT	GRN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	0.25	+2.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	0.39	+0.71

Correlation

The correlation between PIT and GRN is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PIT vs. GRN - Dividend Comparison

PIT's dividend yield for the trailing twelve months is around 6.51%, while GRN has not paid dividends to shareholders.

	TTM	2025	2024	2023
PIT VanEck Commodity Strategy ETF	6.51%	8.92%	3.59%	6.44%
GRN iPath Series B Carbon ETN	0.00%	0.00%	0.00%	0.00%

Drawdowns

PIT vs. GRN - Drawdown Comparison

The maximum PIT drawdown since its inception was -12.27%, smaller than the maximum GRN drawdown of -47.96%. Use the drawdown chart below to compare losses from any high point for PIT and GRN.

Drawdown Indicators

	PIT	GRN	Difference
Max Drawdown Largest peak-to-trough decline	-12.27%	-47.96%	+35.69%
Max Drawdown (1Y) Largest decline over 1 year	-11.66%	-30.39%	+18.73%
Max Drawdown (5Y) Largest decline over 5 years	—	-47.96%	—
Current Drawdown Current decline from peak	-0.55%	-26.34%	+25.79%
Average Drawdown Average peak-to-trough decline	-4.06%	-17.38%	+13.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	9.46%	-6.22%

Volatility

PIT vs. GRN - Volatility Comparison

The current volatility for VanEck Commodity Strategy ETF (PIT) is 10.09%, while iPath Series B Carbon ETN (GRN) has a volatility of 13.05%. This indicates that PIT experiences smaller price fluctuations and is considered to be less risky than GRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIT	GRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.09%	13.05%	-2.96%
Volatility (6M) Calculated over the trailing 6-month period	17.34%	23.68%	-6.34%
Volatility (1Y) Calculated over the trailing 1-year period	21.28%	29.63%	-8.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.04%	40.22%	-23.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	42.32%	-25.28%