SFEB vs. GSG
SFEB (FT Vest U.S. Small Cap Moderate Buffer ETF - February) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - SFEB is a Defined Outcome fund actively managed by First Trust, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. SFEB is actively managed, while GSG is passively managed. Over the past year, SFEB returned 22.47% vs 42.34% for GSG. Their -0.02 correlation means they have often moved in opposite directions in the past. SFEB charges 0.90%/yr vs 0.75%/yr for GSG.
Performance
SFEB vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, SFEB achieves a 11.22% return, which is significantly lower than GSG's 38.94% return.
SFEB
- 1D
- -0.10%
- 1M
- -0.15%
- 6M
- 8.03%
- YTD
- 11.22%
- 1Y
- 22.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.35%
GSG
- 1D
- 0.28%
- 1M
- 12.94%
- 6M
- 25.75%
- YTD
- 38.94%
- 1Y
- 42.34%
- 3Y*
- 14.13%
- 5Y*
- 14.47%
- 10Y*
- 8.91%
- ALL TIME*
- -2.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.60M | $17.31M | $26.52M | |
| $158.86K | $157.36K | $135.84K |
SFEB vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SFEB FT Vest U.S. Small Cap Moderate Buffer ETF - February | 11.22% | 9.24% | 9.37% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 38.94% | 5.93% | 3.13% |
Correlation
The correlation between SFEB and GSG is -0.23, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.23 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2024 | -0.02 |
Over the past year, the inverse relationship between SFEB and GSG has strengthened: their correlation has moved from -0.02 to -0.23, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
SFEB vs. GSG — Risk / Return Rank
SFEB
GSG
SFEB vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Small Cap Moderate Buffer ETF - February (SFEB) 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.
| SFEB | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.29 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 4.09 | 2.16 | +1.93 |
| Martin ratioReturn relative to average drawdown | 17.22 | 6.99 | +10.23 |
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Drawdowns
SFEB vs. GSG - Drawdown Comparison
The maximum SFEB drawdown since its inception was -16.67%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for SFEB and GSG.
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Drawdown Indicators
| SFEB | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.67% | -89.62% | +72.95% |
Max Drawdown (1Y)Largest decline over 1 year | -5.22% | -18.81% | +13.59% |
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 DrawdownCurrent decline from peak | -0.46% | -58.05% | +57.59% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -63.67% | +61.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 5.84% | -4.60% |
Volatility
SFEB vs. GSG - Volatility Comparison
The current volatility for FT Vest U.S. Small Cap Moderate Buffer ETF - February (SFEB) is 1.62%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 8.11%. This indicates that SFEB 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
| SFEB | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 8.11% | -6.49% |
Volatility (6M)Calculated over the trailing 6-month period | 6.73% | 22.18% | -15.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.30% | 24.23% | -14.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.80% | 22.86% | -11.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.80% | 22.06% | -10.26% |
SFEB vs. GSG - Expense Ratio Comparison
SFEB has a 0.90% expense ratio, which is higher than GSG's 0.75% expense ratio.
Dividends
SFEB vs. GSG - Dividend Comparison
Neither SFEB nor GSG has paid dividends to shareholders.
Frequently Asked Questions
SFEB 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 (8.11%) compared to SFEB (1.62%). In terms of maximum drawdown, SFEB dropped -16.67% vs GSG's -89.62%.
On 1-year performance, GSG leads with 42.34% vs 22.47% for SFEB. On fees, GSG is cheaper at 0.75% per year. On volatility, SFEB has been the lower-risk option at 1.62%. 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 42.34% return vs 22.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSG is cheaper with a 0.75% expense ratio, compared with 0.90% for SFEB.
SFEB and GSG have nearly identical dividend yields, around 0.00%.
SFEB is categorized as Defined Outcome, while GSG is Commodities. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.90% for SFEB and 0.75% for GSG.
SFEB currently has the higher Sharpe Ratio (2.30 vs 1.68), 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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