PRFD vs. GSG
PRFD (PIMCO Preferred And Capital Securities Active Exchange-Traded Fund) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - PRFD is a Preferred Stock/Convertible Bonds fund actively managed by PIMCO, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. PRFD is actively managed, while GSG is passively managed. Over the past 3 years, PRFD returned 9.23%/yr vs 19.31%/yr for GSG. At a correlation of -0.04, they often move in opposite directions. PRFD charges 0.74%/yr vs 0.75%/yr for GSG.
Performance
PRFD vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, PRFD achieves a 1.40% return, which is significantly lower than GSG's 42.58% return.
PRFD
- 1D
- -0.20%
- 1M
- 0.36%
- YTD
- 1.40%
- 6M
- 1.56%
- 1Y
- 8.04%
- 3Y*
- 9.23%
- 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%
PRFD vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund | 1.40% | 8.45% | 9.92% | 1.83% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.58% | 5.93% | 8.52% | -5.73% |
Correlation
The correlation between PRFD and GSG is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023 | -0.04 |
The correlation between PRFD and GSG shifts across timeframes, from -0.22 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PRFD vs. GSG — Risk / Return Rank
PRFD
GSG
PRFD vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) 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.
| PRFD | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.40 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 5.47 | -3.02 |
| Martin ratioReturn relative to average drawdown | 10.14 | 14.39 | -4.26 |
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
| PRFD | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.51 | 2.26 | +0.26 |
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 | 1.31 | -0.09 | +1.40 |
Drawdowns
PRFD vs. GSG - Drawdown Comparison
The maximum PRFD drawdown since its inception was -11.93%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for PRFD and GSG.
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Drawdown Indicators
| PRFD | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.93% | -89.62% | +77.69% |
Max Drawdown (1Y)Largest decline over 1 year | -3.28% | -9.46% | +6.18% |
Max Drawdown (3Y)Largest decline over 3 years | -6.28% | -14.94% | +8.66% |
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 | -0.61% | -56.95% | +56.34% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -63.71% | +61.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 3.59% | -2.80% |
Volatility
PRFD vs. GSG - Volatility Comparison
The current volatility for PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) is 1.19%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that PRFD 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.
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Volatility by Period
| PRFD | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 7.65% | -6.46% |
Volatility (6M)Calculated over the trailing 6-month period | 2.68% | 20.42% | -17.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 22.95% | -19.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.88% | 22.61% | -17.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.88% | 22.03% | -17.15% |
PRFD vs. GSG - Expense Ratio Comparison
PRFD has a 0.74% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
PRFD vs. GSG - Dividend Comparison
PRFD's dividend yield for the trailing twelve months is around 5.77%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% |
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund | 5.77% | 5.63% | 5.53% | 5.04% |
Frequently Asked Questions
PRFD and GSG have a correlation of -0.22, 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 PRFD (1.19%). In terms of maximum drawdown, PRFD dropped -11.93% vs GSG's -89.62%.
On 3-year performance, GSG leads with 19.31% vs 9.23% for PRFD. On fees, PRFD is cheaper at 0.74% per year. On volatility, PRFD has been the lower-risk option at 1.19%. 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 9.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PRFD is cheaper with a 0.74% expense ratio, compared with 0.75% for GSG.
PRFD has the higher dividend yield at 5.77%, compared with 0.00% for GSG.
PRFD is categorized as Preferred Stock/Convertible Bonds, while GSG is Commodities. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.74% for PRFD and 0.75% for GSG.
PRFD currently has the higher Sharpe Ratio (2.51 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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