SCIO vs. GSG
SCIO (First Trust Structured Credit Income Opportunities ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - SCIO is a Multisector Bonds fund actively managed by First Trust, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. SCIO is actively managed, while GSG is passively managed. Over the past year, SCIO returned 5.43% vs 27.65% for GSG. At a correlation of -0.17, they often move in opposite directions. SCIO charges 0.70%/yr vs 0.75%/yr for GSG.
Performance
SCIO vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, SCIO achieves a 1.83% return, which is significantly lower than GSG's 25.54% return.
SCIO
- 1D
- 0.00%
- 1M
- 0.73%
- YTD
- 1.83%
- 6M
- 1.92%
- 1Y
- 5.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GSG
- 1D
- -1.03%
- 1M
- -12.93%
- YTD
- 25.54%
- 6M
- 23.88%
- 1Y
- 27.65%
- 3Y*
- 14.02%
- 5Y*
- 12.78%
- 10Y*
- 6.58%
SCIO vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SCIO First Trust Structured Credit Income Opportunities ETF | 1.83% | 10.17% | 6.43% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 25.54% | 5.93% | 2.59% |
Correlation
The correlation between SCIO 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 (All Time) Calculated using the full available price history since Feb 28, 2024 | -0.17 |
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Return for Risk
SCIO vs. GSG — Risk / Return Rank
SCIO
GSG
SCIO vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Structured Credit Income Opportunities ETF (SCIO) 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.
| SCIO | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.23 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 1.66 | +1.51 |
| Martin ratioReturn relative to average drawdown | 10.75 | 6.95 | +3.80 |
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Drawdowns
SCIO vs. GSG - Drawdown Comparison
The maximum SCIO drawdown since its inception was -1.72%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for SCIO and GSG.
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Drawdown Indicators
| SCIO | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.72% | -89.62% | +87.90% |
Max Drawdown (1Y)Largest decline over 1 year | -1.72% | -16.74% | +15.02% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.74% | — |
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 | -0.10% | -62.10% | +62.00% |
Average DrawdownAverage peak-to-trough decline | -0.30% | -63.69% | +63.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 4.01% | -3.49% |
Volatility
SCIO vs. GSG - Volatility Comparison
The current volatility for First Trust Structured Credit Income Opportunities ETF (SCIO) is 0.75%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 5.46%. This indicates that SCIO 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
| SCIO | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 5.46% | -4.71% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 20.82% | -19.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 23.17% | -19.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.19% | 22.67% | -19.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.19% | 22.01% | -18.82% |
SCIO vs. GSG - Expense Ratio Comparison
SCIO has a 0.70% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
SCIO vs. GSG - Dividend Comparison
SCIO's dividend yield for the trailing twelve months is around 5.97%, 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% |
SCIO First Trust Structured Credit Income Opportunities ETF | 5.97% | 6.31% | 6.02% |
Frequently Asked Questions
SCIO 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 (5.46%) compared to SCIO (0.75%). In terms of maximum drawdown, SCIO dropped -1.72% vs GSG's -89.62%.
On 1-year performance, GSG leads with 27.65% vs 5.43% for SCIO. On fees, SCIO is cheaper at 0.70% per year. On volatility, SCIO has been the lower-risk option at 0.75%. 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 27.65% return vs 5.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCIO is cheaper with a 0.70% expense ratio, compared with 0.75% for GSG.
SCIO has the higher dividend yield at 5.97%, compared with 0.00% for GSG.
SCIO is categorized as Multisector Bonds, while GSG is Commodities. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.70% for SCIO and 0.75% for GSG.
SCIO currently has the higher Sharpe Ratio (1.52 vs 1.22), 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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