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RYJ vs. GSG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RYJ vs. GSG

Last updated Jun 3, 2026

RYJ (Invesco Raymond James SB-1 Equity ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - RYJ is a Mid Cap Blend Equities fund tracking the Raymond James SB-1 Equity Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, RYJ returned 10.38%/yr vs 7.61%/yr for GSG. At a 0.36 correlation, their price movements are largely independent. RYJ charges 0.40%/yr vs 0.75%/yr for GSG.

Performance

RYJ vs. GSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Raymond James SB-1 Equity ETF (RYJ) and iShares S&P GSCI Commodity-Indexed Trust (GSG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RYJ achieves a 11.22% return, which is significantly lower than GSG's 41.50% return. Over the past 10 years, RYJ has outperformed GSG with an annualized return of 10.38%, while GSG has yielded a comparatively lower 7.61% annualized return.

RYJ

1D
0.34%
1M
6.49%
YTD
11.22%
6M
12.45%
1Y
18.81%
3Y*
15.52%
5Y*
7.34%
10Y*
10.38%

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)

RYJ vs. GSG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RYJ
Invesco Raymond James SB-1 Equity ETF		11.22%8.89%13.28%15.65%-13.17%24.09%6.21%32.02%-14.84%13.31%
GSG
iShares S&P GSCI Commodity-Indexed Trust		41.50%5.93%8.52%-5.51%24.08%38.77%-23.94%15.62%-13.88%3.89%

Correlation

The correlation between RYJ and GSG is -0.23, 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

-0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.02

Correlation (5Y)
Calculated over the trailing 5-year period

0.19

Correlation (10Y)
Calculated over the trailing 10-year period

0.31

Correlation (All Time)
Calculated using the full available price history since Jul 24, 2006

0.36

The correlation between RYJ and GSG shifts across timeframes, from -0.23 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Raymond James SB-1 Equity ETF

iShares S&P GSCI Commodity-Indexed Trust

Often compared with RYJ:
RYJ vs. IWMRYJ vs. OMFLRYJ vs. VIMAXRYJ vs. TUSARYJ vs. RSHORYJ vs. FDLSRYJ vs. VFQY
Often compared with GSG:
GSG vs. DBCGSG vs. PDBCGSG vs. COMTGSG vs. VCMDXGSG vs. GLDGSG vs. HGERGSG vs. CGL.TO

Return for Risk

RYJ vs. GSG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RYJ
RYJ Risk / Return Rank: 3838
Overall Rank
RYJ Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
RYJ Sortino Ratio Rank: 4141
Sortino Ratio Rank
RYJ Omega Ratio Rank: 3535
Omega Ratio Rank
RYJ Calmar Ratio Rank: 3737
Calmar Ratio Rank
RYJ Martin Ratio Rank: 4040
Martin Ratio Rank
GSG
GSG Risk / Return Rank: 7272
Overall Rank
GSG Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
GSG Sortino Ratio Rank: 6060
Sortino Ratio Rank
GSG Omega Ratio Rank: 6666
Omega Ratio Rank
GSG Calmar Ratio Rank: 9090
Calmar Ratio Rank
GSG Martin Ratio Rank: 7777
Martin Ratio Rank
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.

RYJ vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Raymond James SB-1 Equity ETF (RYJ) 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.

RYJGSGDifference

Sharpe ratio

Return per unit of total volatility

1.39

2.24

-0.85

Sortino ratio

Return per unit of downside risk

2.11

2.86

-0.75

Omega ratio

Gain probability vs. loss probability

1.24

1.40

-0.16

Calmar ratio

Return relative to maximum drawdown

1.88

5.72

-3.84

Martin ratio

Return relative to average drawdown

6.46

15.15

-8.68

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYJ vs. GSG - Sharpe Ratio Comparison

The current RYJ Sharpe Ratio is 1.39, which is lower than the GSG Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of RYJ 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.

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Sharpe Ratios by Period

RYJGSGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.39

2.24

-0.85

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.40

0.70

-0.31

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.48

0.35

+0.13

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

-0.09

+0.43

Drawdowns

RYJ vs. GSG - Drawdown Comparison

The maximum RYJ drawdown since its inception was -60.74%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for RYJ and GSG.

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Drawdown Indicators

RYJGSGDifference

Max Drawdown

Largest peak-to-trough decline

-60.74%

-89.62%

+28.88%

Max Drawdown (1Y)

Largest decline over 1 year

-10.01%

-9.46%

-0.55%

Max Drawdown (3Y)

Largest decline over 3 years

-16.90%

-14.94%

-1.96%

Max Drawdown (5Y)

Largest decline over 5 years

-24.31%

-29.12%

+4.81%

Max Drawdown (10Y)

Largest decline over 10 years

-50.20%

-57.64%

+7.44%

Current Drawdown

Current decline from peak

0.00%

-57.28%

+57.28%

Average Drawdown

Average peak-to-trough decline

-10.27%

-63.72%

+53.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.92%

3.57%

-0.65%

Volatility

RYJ vs. GSG - Volatility Comparison

The current volatility for Invesco Raymond James SB-1 Equity ETF (RYJ) is 4.56%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.89%. This indicates that RYJ 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

RYJGSGDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.56%

7.89%

-3.33%

Volatility (6M)

Calculated over the trailing 6-month period

9.99%

20.41%

-10.42%

Volatility (1Y)

Calculated over the trailing 1-year period

13.62%

23.01%

-9.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.65%

22.61%

-3.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.65%

22.03%

-0.38%

RYJ vs. GSG - Expense Ratio Comparison

RYJ has a 0.40% expense ratio, which is lower than GSG's 0.75% expense ratio.

Dividends

RYJ vs. GSG - Dividend Comparison

RYJ's dividend yield for the trailing twelve months is around 1.57%, while GSG has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
GSG
iShares S&P GSCI Commodity-Indexed Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
RYJ
Invesco Raymond James SB-1 Equity ETF		1.57%1.75%1.28%1.39%0.72%0.52%0.28%0.20%1.43%0.00%1.55%0.93%

Frequently Asked Questions

RYJ and GSG have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GSG has higher volatility (7.89%) compared to RYJ (4.56%). In terms of maximum drawdown, RYJ dropped -60.74% vs GSG's -89.62%.

On 10-year performance, RYJ leads with 10.38% vs 7.61% for GSG. On fees, RYJ is cheaper at 0.40% per year. On volatility, RYJ has been the lower-risk option at 4.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RYJ has performed better with a 10.38% return vs 7.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

RYJ is cheaper with a 0.40% expense ratio, compared with 0.75% for GSG.

RYJ has the higher dividend yield at 1.57%, compared with 0.00% for GSG.

RYJ is categorized as Mid Cap Blend Equities, while GSG is Commodities. RYJ tracks Raymond James SB-1 Equity Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.40% for RYJ and 0.75% for GSG.

GSG currently has the higher Sharpe Ratio (2.24 vs 1.39), 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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