REIT vs. GSG
REIT (ALPS Active REIT ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - REIT is a REIT fund actively managed by ALPS, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. REIT is actively managed, while GSG is passively managed. Over the past 5 years, REIT returned 4.66%/yr vs 13.83%/yr for GSG. At a 0.05 correlation, their price movements are largely independent. REIT charges 0.68%/yr vs 0.75%/yr for GSG.
Performance
REIT vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, REIT achieves a 18.53% return, which is significantly lower than GSG's 32.35% return.
REIT
- 1D
- 0.53%
- 1M
- 0.93%
- 6M
- 17.15%
- YTD
- 18.53%
- 1Y
- 19.98%
- 3Y*
- 9.89%
- 5Y*
- 4.66%
- 10Y*
- —
GSG
- 1D
- 3.60%
- 1M
- -0.20%
- 6M
- 28.24%
- YTD
- 32.35%
- 1Y
- 34.57%
- 3Y*
- 14.41%
- 5Y*
- 13.83%
- 10Y*
- 7.40%
REIT vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
REIT ALPS Active REIT ETF | 18.53% | -0.55% | 7.11% | 13.74% | -21.23% | 33.02% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.35% | 5.93% | 8.52% | -5.51% | 24.08% | 17.68% |
Correlation
The correlation between REIT and GSG is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2021 | 0.05 |
The correlation between REIT and GSG shifts across timeframes, from -0.17 (1 year) to 0.06 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
REIT vs. GSG — Risk / Return Rank
REIT
GSG
REIT vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ALPS Active REIT ETF (REIT) 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.
| REIT | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.27 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 1.85 | +0.88 |
| Martin ratioReturn relative to average drawdown | 8.05 | 6.29 | +1.76 |
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Drawdowns
REIT vs. GSG - Drawdown Comparison
The maximum REIT drawdown since its inception was -29.30%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for REIT and GSG.
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Drawdown Indicators
| REIT | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.30% | -89.62% | +60.32% |
Max Drawdown (1Y)Largest decline over 1 year | -7.35% | -18.81% | +11.46% |
Max Drawdown (3Y)Largest decline over 3 years | -18.19% | -18.81% | +0.62% |
Max Drawdown (5Y)Largest decline over 5 years | -29.30% | -29.12% | -0.18% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -0.81% | -60.04% | +59.23% |
Average DrawdownAverage peak-to-trough decline | -10.19% | -63.69% | +53.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.49% | 5.51% | -3.02% |
Volatility
REIT vs. GSG - Volatility Comparison
The current volatility for ALPS Active REIT ETF (REIT) is 4.79%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.35%. This indicates that REIT 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
| REIT | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.79% | 7.35% | -2.56% |
Volatility (6M)Calculated over the trailing 6-month period | 10.24% | 21.50% | -11.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.44% | 23.48% | -10.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.54% | 22.80% | -4.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.35% | 22.00% | -3.65% |
REIT vs. GSG - Expense Ratio Comparison
REIT has a 0.68% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
REIT vs. GSG - Dividend Comparison
REIT's dividend yield for the trailing twelve months is around 2.69%, 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% |
REIT ALPS Active REIT ETF | 2.69% | 3.20% | 3.06% | 3.13% | 2.81% | 4.71% |
Frequently Asked Questions
REIT and GSG have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (7.35%) compared to REIT (4.79%). In terms of maximum drawdown, REIT dropped -29.30% vs GSG's -89.62%.
On 5-year performance, GSG leads with 13.83% vs 4.66% for REIT. On fees, REIT is cheaper at 0.68% per year. On volatility, REIT has been the lower-risk option at 4.79%. 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 13.83% return vs 4.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REIT is cheaper with a 0.68% expense ratio, compared with 0.75% for GSG.
REIT has the higher dividend yield at 2.69%, compared with 0.00% for GSG.
REIT is categorized as REIT, while GSG is Commodities. They also come from different issuers: ALPS and iShares. Their fees differ too: 0.68% for REIT and 0.75% for GSG.
REIT currently has the higher Sharpe Ratio (1.50 vs 1.48), 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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