RYLG vs. GSG
RYLG (Global X Russell 2000 Covered Call & Growth ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - RYLG is a Derivative Income fund tracking the Cboe Russell 2000 Half BuyWrite Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 3 years, RYLG returned 12.17%/yr vs 14.41%/yr for GSG. At a 0.12 correlation, their price movements are largely independent. RYLG charges 0.35%/yr vs 0.75%/yr for GSG.
Performance
RYLG vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, RYLG achieves a 15.01% return, which is significantly lower than GSG's 32.35% return.
RYLG
- 1D
- -0.66%
- 1M
- 1.10%
- 6M
- 10.22%
- YTD
- 15.01%
- 1Y
- 26.35%
- 3Y*
- 12.17%
- 5Y*
- —
- 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%
RYLG vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
RYLG Global X Russell 2000 Covered Call & Growth ETF | 15.01% | 9.39% | 10.57% | 8.33% | -2.32% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.35% | 5.93% | 8.52% | -5.51% | -2.35% |
Correlation
The correlation between RYLG 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 Oct 5, 2022 | 0.12 |
The correlation between RYLG and GSG shifts across timeframes, from -0.16 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RYLG vs. GSG — Risk / Return Rank
RYLG
GSG
RYLG vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Russell 2000 Covered Call & Growth ETF (RYLG) 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.
| RYLG | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.27 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 1.85 | +1.39 |
| Martin ratioReturn relative to average drawdown | 12.43 | 6.29 | +6.14 |
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Drawdowns
RYLG vs. GSG - Drawdown Comparison
The maximum RYLG drawdown since its inception was -22.37%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for RYLG and GSG.
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Drawdown Indicators
| RYLG | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.37% | -89.62% | +67.25% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -18.81% | +10.63% |
Max Drawdown (3Y)Largest decline over 3 years | -22.37% | -18.81% | -3.56% |
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 | -1.09% | -60.04% | +58.95% |
Average DrawdownAverage peak-to-trough decline | -4.04% | -63.69% | +59.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 5.51% | -3.38% |
Volatility
RYLG vs. GSG - Volatility Comparison
The current volatility for Global X Russell 2000 Covered Call & Growth ETF (RYLG) is 3.09%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.35%. This indicates that RYLG 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
| RYLG | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 7.35% | -4.26% |
Volatility (6M)Calculated over the trailing 6-month period | 10.96% | 21.50% | -10.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.94% | 23.48% | -8.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.05% | 22.80% | -5.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.05% | 22.00% | -4.95% |
RYLG vs. GSG - Expense Ratio Comparison
RYLG has a 0.35% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
RYLG vs. GSG - Dividend Comparison
RYLG's dividend yield for the trailing twelve months is around 10.25%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RYLG Global X Russell 2000 Covered Call & Growth ETF | 10.25% | 10.82% | 23.73% | 5.78% | 4.36% |
Frequently Asked Questions
RYLG 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.
GSG has higher volatility (7.35%) compared to RYLG (3.09%). In terms of maximum drawdown, RYLG dropped -22.37% vs GSG's -89.62%.
On 3-year performance, GSG leads with 14.41% vs 12.17% for RYLG. On fees, RYLG is cheaper at 0.35% per year. On volatility, RYLG has been the lower-risk option at 3.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GSG has performed better with a 14.41% return vs 12.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RYLG is cheaper with a 0.35% expense ratio, compared with 0.75% for GSG.
RYLG has the higher dividend yield at 10.25%, compared with 0.00% for GSG.
RYLG is categorized as Derivative Income, while GSG is Commodities. RYLG tracks Cboe Russell 2000 Half BuyWrite Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.35% for RYLG and 0.75% for GSG.
RYLG currently has the higher Sharpe Ratio (1.78 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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