SUPP vs. GSG
SUPP (TCW Transform Supply Chain ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - SUPP is a Large Cap Blend Equities fund actively managed by TCW, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. SUPP is actively managed, while GSG is passively managed. Over the past 3 years, SUPP returned 19.34%/yr vs 19.31%/yr for GSG. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
SUPP vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, SUPP achieves a 21.37% return, which is significantly lower than GSG's 42.58% return.
SUPP
- 1D
- -0.15%
- 1M
- 6.38%
- YTD
- 21.37%
- 6M
- 18.97%
- 1Y
- 32.28%
- 3Y*
- 19.34%
- 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%
SUPP vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SUPP TCW Transform Supply Chain ETF | 21.37% | 11.65% | 10.95% | 12.29% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.58% | 5.93% | 8.52% | -2.81% |
Correlation
The correlation between SUPP and GSG is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2023 | 0.05 |
The correlation between SUPP and GSG shifts across timeframes, from -0.20 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SUPP vs. GSG — Risk / Return Rank
SUPP
GSG
SUPP vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TCW Transform Supply Chain ETF (SUPP) 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.
| SUPP | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.40 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 5.47 | -3.09 |
| Martin ratioReturn relative to average drawdown | 9.82 | 14.39 | -4.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SUPP | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | 2.26 | -0.58 |
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 | 0.89 | -0.09 | +0.98 |
Drawdowns
SUPP vs. GSG - Drawdown Comparison
The maximum SUPP drawdown since its inception was -25.03%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for SUPP and GSG.
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Drawdown Indicators
| SUPP | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.03% | -89.62% | +64.59% |
Max Drawdown (1Y)Largest decline over 1 year | -13.59% | -9.46% | -4.13% |
Max Drawdown (3Y)Largest decline over 3 years | -25.03% | -14.94% | -10.09% |
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 | -0.15% | -56.95% | +56.80% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -63.71% | +59.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.29% | 3.59% | -0.30% |
Volatility
SUPP vs. GSG - Volatility Comparison
The current volatility for TCW Transform Supply Chain ETF (SUPP) is 7.15%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that SUPP 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
| SUPP | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.15% | 7.65% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 16.42% | 20.42% | -4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.38% | 22.95% | -3.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.44% | 22.61% | -3.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.44% | 22.03% | -2.59% |
SUPP vs. GSG - Expense Ratio Comparison
Both SUPP and GSG have an expense ratio of 0.75%.
Dividends
SUPP vs. GSG - Dividend Comparison
SUPP's dividend yield for the trailing twelve months is around 0.29%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% |
SUPP TCW Transform Supply Chain ETF | 0.29% | 0.35% | 0.49% | 0.45% |
Frequently Asked Questions
SUPP 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 (7.65%) compared to SUPP (7.15%). In terms of maximum drawdown, SUPP dropped -25.03% vs GSG's -89.62%.
On 3-year performance, SUPP leads with 19.34% vs 19.31% for GSG. Both ETFs have the same 0.75% expense ratio. On volatility, SUPP has been the lower-risk option at 7.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SUPP has performed better with a 19.34% return vs 19.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SUPP and GSG have the same expense ratio: 0.75% per year.
SUPP has the higher dividend yield at 0.29%, compared with 0.00% for GSG.
SUPP is categorized as Large Cap Blend Equities, while GSG is Commodities. They also come from different issuers: TCW and iShares.
GSG currently has the higher Sharpe Ratio (2.26 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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