SJLD vs. GSG

Last updated Jun 4, 2026

SJLD (SanJac Alpha Low Duration ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - SJLD is a Short-Term Bond fund actively managed by SanJac Alpha, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. SJLD is actively managed, while GSG is passively managed. Over the past year, SJLD returned 4.97% vs 51.52% for GSG. At a correlation of -0.11, they often move in opposite directions. SJLD charges 0.35%/yr vs 0.75%/yr for GSG.

Performance

SJLD vs. GSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SanJac Alpha Low Duration ETF (SJLD) 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, SJLD achieves a 1.75% return, which is significantly lower than GSG's 42.58% return.

SJLD

• 1D: -0.04%
• 1M: 0.06%
• YTD: 1.75%
• 6M: 1.82%
• 1Y: 4.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GSG

• 1D: 0.77%
• 1M: -4.83%
• YTD: 42.58%
• 6M: 41.06%
• 1Y: 51.52%
• 3Y*: 19.31%
• 5Y*: 15.74%
• 10Y*: 7.69%

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

SJLD vs. GSG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SJLD SanJac Alpha Low Duration ETF	1.75%	5.20%	0.91%
GSG iShares S&P GSCI Commodity-Indexed Trust	42.58%	5.93%	9.73%

Correlation

The correlation between SJLD and GSG is -0.14, 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	-0.14
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024	-0.11

Return for Risk

SJLD vs. GSG — Risk / Return Rank

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

SJLD

SJLD Risk / Return Rank: 87
SJLD Sharpe Ratio Rank: 78
SJLD Sortino Ratio Rank: 90
SJLD Omega Ratio Rank: 92
SJLD Calmar Ratio Rank: 86
SJLD Martin Ratio Rank: 91

GSG

GSG Risk / Return Rank: 71
GSG Sharpe Ratio Rank: 67
GSG Sortino Ratio Rank: 60
GSG Omega Ratio Rank: 65
GSG Calmar Ratio Rank: 89
GSG Martin Ratio Rank: 75

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.

SJLD vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SanJac Alpha Low Duration ETF (SJLD) 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.

	SJLD	GSG	Difference
Sharpe ratio: Return per unit of total volatility	2.52	2.26	+0.26
Sortino ratio: Return per unit of downside risk	4.15	2.88	+1.27
Omega ratio: Gain probability vs. loss probability	1.62	1.40	+0.21
Calmar ratio: Return relative to maximum drawdown	4.78	5.47	-0.70
Martin ratio: Return relative to average drawdown	21.98	14.39	+7.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SJLD vs. GSG - Sharpe Ratio Comparison

The current SJLD Sharpe Ratio is 2.52, which is comparable to the GSG Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of SJLD 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.

Sharpe Ratios by Period

	SJLD	GSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	2.26	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.36	-0.09	+2.44

Drawdowns

SJLD vs. GSG - Drawdown Comparison

The maximum SJLD drawdown since its inception was -1.04%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for SJLD and GSG.

Drawdown Indicators

	SJLD	GSG	Difference
Max Drawdown Largest peak-to-trough decline	-1.04%	-89.62%	+88.58%
Max Drawdown (1Y) Largest decline over 1 year	-1.04%	-9.46%	+8.42%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.94%	—
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	-0.08%	-56.95%	+56.87%
Average Drawdown Average peak-to-trough decline	-0.12%	-63.71%	+63.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	3.59%	-3.36%

Volatility

SJLD vs. GSG - Volatility Comparison

The current volatility for SanJac Alpha Low Duration ETF (SJLD) is 0.31%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that SJLD 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

	SJLD	GSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.31%	7.65%	-7.34%
Volatility (6M) Calculated over the trailing 6-month period	1.17%	20.42%	-19.25%
Volatility (1Y) Calculated over the trailing 1-year period	1.99%	22.95%	-20.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.95%	22.61%	-20.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.95%	22.03%	-20.08%

SJLD vs. GSG - Expense Ratio Comparison

SJLD has a 0.35% expense ratio, which is lower than GSG's 0.75% expense ratio.

Dividends

SJLD vs. GSG - Dividend Comparison

SJLD's dividend yield for the trailing twelve months is around 3.96%, 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%
SJLD SanJac Alpha Low Duration ETF	3.96%	3.74%	1.26%

Frequently Asked Questions

Can I hold both SJLD and GSG in my portfolio?

SJLD and GSG have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SJLD or GSG?

GSG has higher volatility (7.65%) compared to SJLD (0.31%). In terms of maximum drawdown, SJLD dropped -1.04% vs GSG's -89.62%.

Which ETF is better, SJLD or GSG?

On 1-year performance, GSG leads with 51.52% vs 4.97% for SJLD. On fees, SJLD is cheaper at 0.35% per year. On volatility, SJLD has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SJLD or GSG?

Over the 1-year period, GSG has performed better with a 51.52% return vs 4.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SJLD or GSG?

SJLD is cheaper with a 0.35% expense ratio, compared with 0.75% for GSG.

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

SJLD has the higher dividend yield at 3.96%, compared with 0.00% for GSG.

What is the main difference between SJLD and GSG?

SJLD is categorized as Short-Term Bond, while GSG is Commodities. They also come from different issuers: SanJac Alpha and iShares. Their fees differ too: 0.35% for SJLD and 0.75% for GSG.

Which has better risk-adjusted returns?

SJLD currently has the higher Sharpe Ratio (2.52 vs 2.26), 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.