SIO vs. GSG
SIO (Touchstone Strategic Income Opportunities ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - SIO is a Multisector Bonds fund actively managed by Touchstone, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. SIO is actively managed, while GSG is passively managed. Over the past 3 years, SIO returned 6.82%/yr vs 14.13%/yr for GSG. Their -0.07 correlation means they have often moved in opposite directions in the past. SIO charges 0.65%/yr vs 0.75%/yr for GSG.
Performance
SIO vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, SIO achieves a 0.30% return, which is significantly lower than GSG's 38.94% return.
SIO
- 1D
- -0.16%
- 1M
- -1.05%
- 6M
- -0.38%
- YTD
- 0.30%
- 1Y
- 3.59%
- 3Y*
- 6.82%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.16%
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 | |
| $335.23K | $1.26M | $854.33K |
SIO vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SIO Touchstone Strategic Income Opportunities ETF | 0.30% | 9.29% | 6.15% | 8.48% | 0.70% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 38.94% | 5.93% | 8.52% | -5.51% | -3.15% |
Correlation
The correlation between SIO and GSG is -0.30, 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. | -0.30 |
Correlation (3Y) Balances recent behavior with more history. | -0.17 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2022 | -0.07 |
Over the past year, the inverse relationship between SIO and GSG has strengthened: their correlation has moved from -0.07 to -0.30, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
SIO vs. GSG — Risk / Return Rank
SIO
GSG
SIO vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Touchstone Strategic Income Opportunities ETF (SIO) 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.
| SIO | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.29 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.16 | -0.61 |
| Martin ratioReturn relative to average drawdown | 4.28 | 6.99 | -2.71 |
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Drawdowns
SIO vs. GSG - Drawdown Comparison
The maximum SIO drawdown since its inception was -6.94%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for SIO and GSG.
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Drawdown Indicators
| SIO | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.94% | -89.62% | +82.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -18.81% | +16.19% |
Max Drawdown (3Y)Largest decline over 3 years | -4.34% | -18.81% | +14.47% |
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 | -1.62% | -58.05% | +56.43% |
Average DrawdownAverage peak-to-trough decline | -1.24% | -63.67% | +62.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 5.84% | -4.89% |
Volatility
SIO vs. GSG - Volatility Comparison
The current volatility for Touchstone Strategic Income Opportunities ETF (SIO) is 1.01%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 8.11%. This indicates that SIO 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
| SIO | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 8.11% | -7.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 22.18% | -19.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 24.23% | -20.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.95% | 22.86% | -17.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.95% | 22.06% | -17.11% |
SIO vs. GSG - Expense Ratio Comparison
SIO has a 0.65% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
SIO vs. GSG - Dividend Comparison
SIO's dividend yield for the trailing twelve months is around 7.06%, 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% |
SIO Touchstone Strategic Income Opportunities ETF | 7.06% | 6.80% | 5.30% | 5.37% | 3.12% |
Frequently Asked Questions
SIO and GSG have a correlation of -0.30, 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 SIO (1.01%). In terms of maximum drawdown, SIO dropped -6.94% vs GSG's -89.62%.
On 3-year performance, GSG leads with 14.13% vs 6.82% for SIO. On fees, SIO is cheaper at 0.65% per year. On volatility, SIO has been the lower-risk option at 1.01%. 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 14.13% return vs 6.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIO is cheaper with a 0.65% expense ratio, compared with 0.75% for GSG.
SIO has the higher dividend yield at 7.06%, compared with 0.00% for GSG.
SIO is categorized as Multisector Bonds, while GSG is Commodities. They also come from different issuers: Touchstone and iShares. Their fees differ too: 0.65% for SIO and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.68 vs 0.98), 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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