PSMD vs. GSG
PSMD (Pacer Swan SOS Moderate (December) ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - PSMD is a Defined Outcome fund actively managed by Pacer, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. PSMD is actively managed, while GSG is passively managed. Over the past 5 years, PSMD returned 9.23%/yr vs 14.20%/yr for GSG. At a 0.12 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
PSMD vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, PSMD achieves a 6.15% return, which is significantly lower than GSG's 33.95% return.
PSMD
- 1D
- -0.17%
- 1M
- 0.47%
- 6M
- 5.33%
- YTD
- 6.15%
- 1Y
- 12.77%
- 3Y*
- 11.91%
- 5Y*
- 9.23%
- 10Y*
- —
GSG
- 1D
- -0.93%
- 1M
- 4.15%
- 6M
- 29.74%
- YTD
- 33.95%
- 1Y
- 37.41%
- 3Y*
- 15.32%
- 5Y*
- 14.20%
- 10Y*
- 7.61%
PSMD vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PSMD Pacer Swan SOS Moderate (December) ETF | 6.15% | 11.45% | 12.78% | 17.46% | -4.47% | 11.23% | 0.55% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 33.95% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | 3.01% |
Correlation
The correlation between PSMD and GSG is -0.12, 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 | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 23, 2020 | 0.12 |
The correlation between PSMD and GSG shifts across timeframes, from -0.12 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PSMD vs. GSG — Risk / Return Rank
PSMD
GSG
PSMD vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Moderate (December) ETF (PSMD) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PSMD | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.29 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 2.00 | +0.90 |
| Martin ratioReturn relative to average drawdown | 15.03 | 6.66 | +8.37 |
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Drawdowns
PSMD vs. GSG - Drawdown Comparison
The maximum PSMD drawdown since its inception was -11.96%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for PSMD and GSG.
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Drawdown Indicators
| PSMD | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.96% | -89.62% | +77.66% |
Max Drawdown (1Y)Largest decline over 1 year | -4.42% | -18.81% | +14.39% |
Max Drawdown (3Y)Largest decline over 3 years | -10.70% | -18.81% | +8.11% |
Max Drawdown (5Y)Largest decline over 5 years | -11.96% | -29.12% | +17.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -0.17% | -59.56% | +59.39% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -63.68% | +62.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 5.63% | -4.78% |
Volatility
PSMD vs. GSG - Volatility Comparison
The current volatility for Pacer Swan SOS Moderate (December) ETF (PSMD) is 1.60%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.17%. This indicates that PSMD 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
| PSMD | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 7.17% | -5.57% |
Volatility (6M)Calculated over the trailing 6-month period | 4.88% | 21.54% | -16.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.74% | 23.48% | -17.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.64% | 22.80% | -14.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.43% | 22.00% | -13.57% |
PSMD vs. GSG - Expense Ratio Comparison
Both PSMD and GSG have an expense ratio of 0.75%.
Dividends
PSMD vs. GSG - Dividend Comparison
Neither PSMD nor GSG has 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% |
PSMD Pacer Swan SOS Moderate (December) ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.47% |
Frequently Asked Questions
PSMD and GSG have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (7.17%) compared to PSMD (1.60%). In terms of maximum drawdown, PSMD dropped -11.96% vs GSG's -89.62%.
On 5-year performance, GSG leads with 14.20% vs 9.23% for PSMD. Both ETFs have the same 0.75% expense ratio. On volatility, PSMD has been the lower-risk option at 1.60%. 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 14.20% return vs 9.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSMD and GSG have the same expense ratio: 0.75% per year.
PSMD and GSG have nearly identical dividend yields, around 0.00%.
PSMD is categorized as Defined Outcome, while GSG is Commodities. They also come from different issuers: Pacer and iShares.
PSMD currently has the higher Sharpe Ratio (2.23 vs 1.60), 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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