RWLC vs. GSG

Last updated Jun 3, 2026

RWLC (Rayliant Wilshire NxtGen US Large Cap Equity ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - RWLC is a Large Cap Blend Equities fund tracking the S&P 500, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 3 years, RWLC returned 24.19%/yr vs 19.01%/yr for GSG. At a 0.15 correlation, their price movements are largely independent. RWLC charges 0.32%/yr vs 0.75%/yr for GSG.

Performance

RWLC vs. GSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rayliant Wilshire NxtGen US Large Cap Equity ETF (RWLC) and iShares S&P GSCI Commodity-Indexed Trust (GSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWLC achieves a 13.40% return, which is significantly lower than GSG's 41.50% return.

RWLC

• 1D: 0.12%
• 1M: 6.45%
• YTD: 13.40%
• 6M: 13.69%
• 1Y: 23.38%
• 3Y*: 24.19%
• 5Y*: —
• 10Y*: —

GSG

• 1D: 0.49%
• 1M: -3.72%
• YTD: 41.50%
• 6M: 40.89%
• 1Y: 51.06%
• 3Y*: 19.01%
• 5Y*: 15.80%
• 10Y*: 7.61%

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

RWLC vs. GSG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RWLC Rayliant Wilshire NxtGen US Large Cap Equity ETF	13.40%	20.23%	28.58%	14.40%	-12.40%	2.05%
GSG iShares S&P GSCI Commodity-Indexed Trust	41.50%	5.93%	8.52%	-5.51%	24.08%	3.13%

Correlation

The correlation between RWLC and GSG is -0.16, 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	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021	0.15

The correlation between RWLC and GSG shifts across timeframes, from -0.16 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RWLC vs. GSG — Risk / Return Rank

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

RWLC

RWLC Risk / Return Rank: 51
RWLC Sharpe Ratio Rank: 48
RWLC Sortino Ratio Rank: 51
RWLC Omega Ratio Rank: 49
RWLC Calmar Ratio Rank: 51
RWLC Martin Ratio Rank: 55

GSG

GSG Risk / Return Rank: 72
GSG Sharpe Ratio Rank: 67
GSG Sortino Ratio Rank: 60
GSG Omega Ratio Rank: 66
GSG Calmar Ratio Rank: 90
GSG Martin Ratio Rank: 77

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.

RWLC vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant Wilshire NxtGen US Large Cap Equity ETF (RWLC) 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.

	RWLC	GSG	Difference
Sharpe ratio Return per unit of total volatility	1.69	2.24	-0.54
Sortino ratio Return per unit of downside risk	2.52	2.86	-0.33
Omega ratio Gain probability vs. loss probability	1.31	1.40	-0.09
Calmar ratio Return relative to maximum drawdown	2.60	5.72	-3.13
Martin ratio Return relative to average drawdown	9.67	15.15	-5.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RWLC vs. GSG - Sharpe Ratio Comparison

The current RWLC Sharpe Ratio is 1.69, which is comparable to the GSG Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of RWLC and GSG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RWLC	GSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	2.24	-0.54
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	0.85	-0.09	+0.94

Drawdowns

RWLC vs. GSG - Drawdown Comparison

The maximum RWLC drawdown since its inception was -21.00%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for RWLC and GSG.

Drawdown Indicators

	RWLC	GSG	Difference
Max Drawdown Largest peak-to-trough decline	-21.00%	-89.62%	+68.62%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-9.46%	+0.13%
Max Drawdown (3Y) Largest decline over 3 years	-16.20%	-14.94%	-1.26%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-57.64%	—
Current Drawdown Current decline from peak	0.00%	-57.28%	+57.28%
Average Drawdown Average peak-to-trough decline	-5.44%	-63.72%	+58.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	3.57%	-1.06%

Volatility

RWLC vs. GSG - Volatility Comparison

The current volatility for Rayliant Wilshire NxtGen US Large Cap Equity ETF (RWLC) is 2.61%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.89%. This indicates that RWLC 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.

Volatility by Period

	RWLC	GSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	7.89%	-5.28%
Volatility (6M) Calculated over the trailing 6-month period	11.03%	20.41%	-9.38%
Volatility (1Y) Calculated over the trailing 1-year period	13.88%	23.01%	-9.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.49%	22.61%	-6.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.49%	22.03%	-5.54%

RWLC vs. GSG - Expense Ratio Comparison

RWLC has a 0.32% expense ratio, which is lower than GSG's 0.75% expense ratio.

Dividends

RWLC vs. GSG - Dividend Comparison

RWLC's dividend yield for the trailing twelve months is around 12.95%, 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%
RWLC Rayliant Wilshire NxtGen US Large Cap Equity ETF	12.95%	14.69%	0.98%	1.63%	1.39%	0.01%

Frequently Asked Questions

Can I hold both RWLC and GSG in my portfolio?

RWLC and GSG have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWLC or GSG?

GSG has higher volatility (7.89%) compared to RWLC (2.61%). In terms of maximum drawdown, RWLC dropped -21.00% vs GSG's -89.62%.

Which ETF is better, RWLC or GSG?

On 3-year performance, RWLC leads with 24.19% vs 19.01% for GSG. On fees, RWLC is cheaper at 0.32% per year. On volatility, RWLC has been the lower-risk option at 2.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RWLC or GSG?

Over the 3-year period, RWLC has performed better with a 24.19% return vs 19.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWLC or GSG?

RWLC is cheaper with a 0.32% expense ratio, compared with 0.75% for GSG.

Which ETF pays a higher dividend yield, RWLC or GSG?

RWLC has the higher dividend yield at 12.95%, compared with 0.00% for GSG.

What is the main difference between RWLC and GSG?

RWLC is categorized as Large Cap Blend Equities, while GSG is Commodities. RWLC tracks S&P 500, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Rayliant and iShares. Their fees differ too: 0.32% for RWLC and 0.75% for GSG.

Which has better risk-adjusted returns?

GSG currently has the higher Sharpe Ratio (2.24 vs 1.69), 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.