SEIS vs. GSG

Last updated Jul 14, 2026

SEIS (SEI Select Small Cap ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - SEIS is a Small Cap Blend Equities fund actively managed by SEI, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. SEIS is actively managed, while GSG is passively managed. Over the past year, SEIS returned 25.08% vs 34.57% for GSG. At a correlation of -0.07, they often move in opposite directions. SEIS charges 0.55%/yr vs 0.75%/yr for GSG.

Performance

SEIS vs. GSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Select Small Cap ETF (SEIS) 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, SEIS achieves a 15.74% return, which is significantly lower than GSG's 32.35% return.

SEIS

• 1D: -1.00%
• 1M: -0.73%
• 6M: 10.46%
• YTD: 15.74%
• 1Y: 25.08%
• 3Y*: —
• 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%

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

SEIS vs. GSG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SEIS SEI Select Small Cap ETF	15.74%	9.81%	1.42%
GSG iShares S&P GSCI Commodity-Indexed Trust	32.35%	5.93%	0.74%

Correlation

The correlation between SEIS and GSG is -0.19, 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	-0.19
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	-0.07

The correlation between SEIS and GSG shifts across timeframes, from -0.19 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SEIS vs. GSG — Risk / Return Rank

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

SEIS

SEIS Risk / Return Rank: 49
SEIS Sharpe Ratio Rank: 45
SEIS Sortino Ratio Rank: 48
SEIS Omega Ratio Rank: 43
SEIS Calmar Ratio Rank: 57
SEIS Martin Ratio Rank: 55

GSG

GSG Risk / Return Rank: 51
GSG Sharpe Ratio Rank: 55
GSG Sortino Ratio Rank: 53
GSG Omega Ratio Rank: 53
GSG Calmar Ratio Rank: 46
GSG Martin Ratio Rank: 47

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.

SEIS vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Select Small Cap ETF (SEIS) 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.

	SEIS	GSG	Difference
Sharpe ratio: Return per unit of total volatility	1.30	1.48	-0.19
Sortino ratio: Return per unit of downside risk	1.95	2.06	-0.12
Omega ratio: Gain probability vs. loss probability	1.23	1.27	-0.04
Calmar ratio: Return relative to maximum drawdown	2.25	1.85	+0.41
Martin ratio: Return relative to average drawdown	7.45	6.29	+1.16

SEIS vs. GSG - Sharpe Ratio Comparison

The current SEIS Sharpe Ratio is 1.30, which is comparable to the GSG Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of SEIS 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.

Drawdowns

SEIS vs. GSG - Drawdown Comparison

The maximum SEIS drawdown since its inception was -26.08%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for SEIS and GSG.

Drawdown Indicators

	SEIS	GSG	Difference
Max Drawdown Largest peak-to-trough decline	-26.08%	-89.62%	+63.54%
Max Drawdown (1Y) Largest decline over 1 year	-11.18%	-18.81%	+7.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.81%	—
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	-3.64%	-60.04%	+56.40%
Average Drawdown Average peak-to-trough decline	-5.70%	-63.69%	+57.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	5.51%	-2.14%

Volatility

SEIS vs. GSG - Volatility Comparison

The current volatility for SEI Select Small Cap ETF (SEIS) is 5.63%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.35%. This indicates that SEIS 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

	SEIS	GSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	7.35%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	14.53%	21.50%	-6.97%
Volatility (1Y) Calculated over the trailing 1-year period	19.47%	23.48%	-4.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.98%	22.80%	-0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.98%	22.00%	-0.02%

SEIS vs. GSG - Expense Ratio Comparison

SEIS has a 0.55% expense ratio, which is lower than GSG's 0.75% expense ratio.

Dividends

SEIS vs. GSG - Dividend Comparison

SEIS's dividend yield for the trailing twelve months is around 0.34%, 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%
SEIS SEI Select Small Cap ETF	0.34%	0.59%	0.23%

Frequently Asked Questions

Can I hold both SEIS and GSG in my portfolio?

SEIS and GSG have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEIS or GSG?

GSG has higher volatility (7.35%) compared to SEIS (5.63%). In terms of maximum drawdown, SEIS dropped -26.08% vs GSG's -89.62%.

Which ETF is better, SEIS or GSG?

On 1-year performance, GSG leads with 34.57% vs 25.08% for SEIS. On fees, SEIS is cheaper at 0.55% per year. On volatility, SEIS has been the lower-risk option at 5.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SEIS or GSG?

Over the 1-year period, GSG has performed better with a 34.57% return vs 25.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SEIS or GSG?

SEIS is cheaper with a 0.55% expense ratio, compared with 0.75% for GSG.

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

SEIS has the higher dividend yield at 0.34%, compared with 0.00% for GSG.

What is the main difference between SEIS and GSG?

SEIS is categorized as Small Cap Blend Equities, while GSG is Commodities. They also come from different issuers: SEI and iShares. Their fees differ too: 0.55% for SEIS and 0.75% for GSG.

Which has better risk-adjusted returns?

GSG currently has the higher Sharpe Ratio (1.48 vs 1.30), 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.