SLYV vs. GSG
SLYV (SPDR S&P 600 Small Cap Value ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - SLYV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, SLYV returned 10.30%/yr vs 8.03%/yr for GSG. Their 0.30 correlation means their historical movements had little consistent relationship. SLYV charges 0.15%/yr vs 0.75%/yr for GSG.
Performance
SLYV vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, SLYV achieves a 22.83% return, which is significantly lower than GSG's 32.52% return. Over the past 10 years, SLYV has outperformed GSG with an annualized return of 10.30%, while GSG has yielded a comparatively lower 8.03% annualized return.
SLYV
- 1D
- -1.07%
- 1M
- 2.53%
- 6M
- 11.74%
- YTD
- 22.83%
- 1Y
- 39.19%
- 3Y*
- 13.81%
- 5Y*
- 8.24%
- 10Y*
- 10.30%
- ALL TIME*
- 10.82%
GSG
- 1D
- 0.36%
- 1M
- 5.78%
- 6M
- 21.95%
- YTD
- 32.52%
- 1Y
- 37.47%
- 3Y*
- 12.51%
- 5Y*
- 14.20%
- 10Y*
- 8.03%
- ALL TIME*
- -2.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $18.96M | $16.42M | $22.87M | |
| $22.91M | $17.95M | $22.80M |
SLYV vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLYV SPDR S&P 600 Small Cap Value ETF | 22.83% | 6.54% | 7.28% | 14.82% | -11.08% | 30.57% | 2.68% | 24.26% | -12.77% | 11.74% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.52% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between SLYV and GSG is -0.20, 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. | -0.20 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jul 21, 2006 | 0.30 |
The correlation between SLYV and GSG shifts across timeframes, from -0.20 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SLYV vs. GSG — Risk / Return Rank
SLYV
GSG
SLYV vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 600 Small Cap Value ETF (SLYV) 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.
| SLYV | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.27 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.21 | 2.00 | +2.20 |
| Martin ratioReturn relative to average drawdown | 14.52 | 6.32 | +8.20 |
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Drawdowns
SLYV vs. GSG - Drawdown Comparison
The maximum SLYV drawdown since its inception was -61.15%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for SLYV and GSG.
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Drawdown Indicators
| SLYV | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.15% | -89.62% | +28.47% |
Max Drawdown (1Y)Largest decline over 1 year | -9.36% | -18.81% | +9.45% |
Max Drawdown (3Y)Largest decline over 3 years | -28.68% | -18.81% | -9.87% |
Max Drawdown (5Y)Largest decline over 5 years | -28.68% | -29.12% | +0.44% |
Max Drawdown (10Y)Largest decline over 10 years | -47.73% | -57.64% | +9.91% |
Current DrawdownCurrent decline from peak | -1.07% | -59.99% | +58.92% |
Average DrawdownAverage peak-to-trough decline | -8.89% | -63.67% | +54.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 5.94% | -3.23% |
Volatility
SLYV vs. GSG - Volatility Comparison
The current volatility for SPDR S&P 600 Small Cap Value ETF (SLYV) is 4.14%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 8.99%. This indicates that SLYV 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
| SLYV | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 8.99% | -4.85% |
Volatility (6M)Calculated over the trailing 6-month period | 11.29% | 21.89% | -10.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.64% | 24.44% | -6.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.68% | 22.90% | -1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.90% | 22.08% | +1.82% |
SLYV vs. GSG - Expense Ratio Comparison
SLYV has a 0.15% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
SLYV vs. GSG - Dividend Comparison
SLYV's dividend yield for the trailing twelve months is around 1.79%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SLYV SPDR S&P 600 Small Cap Value ETF | 1.79% | 2.02% | 2.30% | 2.11% | 1.47% | 1.94% | 1.40% | 1.67% | 2.14% | 5.53% | 2.18% | 6.55% |
Frequently Asked Questions
SLYV and GSG have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (8.99%) compared to SLYV (4.14%). In terms of maximum drawdown, SLYV dropped -61.15% vs GSG's -89.62%.
On 10-year performance, SLYV leads with 10.30% vs 8.03% for GSG. On fees, SLYV is cheaper at 0.15% per year. On volatility, SLYV has been the lower-risk option at 4.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLYV has performed better with a 10.30% return vs 8.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLYV is cheaper with a 0.15% expense ratio, compared with 0.75% for GSG.
SLYV has the higher dividend yield at 1.79%, compared with 0.00% for GSG.
SLYV is categorized as Small Cap Value Equities, while GSG is Commodities. SLYV tracks S&P SmallCap 600 Value Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for SLYV and 0.75% for GSG.
SLYV currently has the higher Sharpe Ratio (2.23 vs 1.54), 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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