RFLR vs. GSG
RFLR (Innovator U.S. Small Cap Managed Floor ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - RFLR is a Equity Hedged fund actively managed by Innovator, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. RFLR is actively managed, while GSG is passively managed. Over the past year, RFLR returned 25.48% vs 45.17% for GSG. At a correlation of -0.05, they often move in opposite directions. RFLR charges 0.89%/yr vs 0.75%/yr for GSG.
Performance
RFLR vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, RFLR achieves a 7.57% return, which is significantly lower than GSG's 36.99% return.
RFLR
- 1D
- -1.86%
- 1M
- 0.10%
- YTD
- 7.57%
- 6M
- 7.78%
- 1Y
- 25.48%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GSG
- 1D
- -2.47%
- 1M
- -3.81%
- YTD
- 36.99%
- 6M
- 33.63%
- 1Y
- 45.17%
- 3Y*
- 17.71%
- 5Y*
- 14.82%
- 10Y*
- 7.06%
RFLR vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
RFLR Innovator U.S. Small Cap Managed Floor ETF | 7.57% | 11.81% | 2.29% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 36.99% | 5.93% | 4.87% |
Correlation
The correlation between RFLR 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 (All Time) Calculated using the full available price history since Sep 18, 2024 | -0.05 |
The correlation between RFLR and GSG shifts across timeframes, from -0.17 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RFLR vs. GSG — Risk / Return Rank
RFLR
GSG
RFLR vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Managed Floor ETF (RFLR) 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.
| RFLR | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.35 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.42 | 4.80 | -0.38 |
| Martin ratioReturn relative to average drawdown | 15.55 | 12.37 | +3.18 |
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
| RFLR | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 1.96 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.66 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.05 | -0.09 | +1.15 |
Drawdowns
RFLR vs. GSG - Drawdown Comparison
The maximum RFLR drawdown since its inception was -15.48%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for RFLR and GSG.
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Drawdown Indicators
| RFLR | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.48% | -89.62% | +74.14% |
Max Drawdown (1Y)Largest decline over 1 year | -5.79% | -9.46% | +3.67% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.94% | — |
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 | -1.86% | -58.64% | +56.78% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -63.71% | +59.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 3.66% | -2.02% |
Volatility
RFLR vs. GSG - Volatility Comparison
The current volatility for Innovator U.S. Small Cap Managed Floor ETF (RFLR) is 4.27%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.03%. This indicates that RFLR 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
| RFLR | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 7.03% | -2.76% |
Volatility (6M)Calculated over the trailing 6-month period | 8.64% | 20.66% | -12.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.46% | 23.15% | -10.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.30% | 22.63% | -10.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.30% | 22.04% | -9.74% |
RFLR vs. GSG - Expense Ratio Comparison
RFLR has a 0.89% expense ratio, which is higher than GSG's 0.75% expense ratio.
Dividends
RFLR vs. GSG - Dividend Comparison
RFLR's dividend yield for the trailing twelve months is around 0.62%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% |
RFLR Innovator U.S. Small Cap Managed Floor ETF | 0.62% | 0.67% | 0.26% |
Frequently Asked Questions
RFLR 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 (7.03%) compared to RFLR (4.27%). In terms of maximum drawdown, RFLR dropped -15.48% vs GSG's -89.62%.
On 1-year performance, GSG leads with 45.17% vs 25.48% for RFLR. On fees, GSG is cheaper at 0.75% per year. On volatility, RFLR has been the lower-risk option at 4.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GSG has performed better with a 45.17% return vs 25.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSG is cheaper with a 0.75% expense ratio, compared with 0.89% for RFLR.
RFLR has the higher dividend yield at 0.62%, compared with 0.00% for GSG.
RFLR is categorized as Equity Hedged, while GSG is Commodities. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.89% for RFLR and 0.75% for GSG.
RFLR currently has the higher Sharpe Ratio (2.05 vs 1.96), 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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