SUZ vs. GSG
SUZ (Suzano S.A.) is a stock, while GSG (iShares S&P GSCI Commodity-Indexed Trust) is Commodities fund tracking the S&P GSCI Total Return Index. Over the past 10 years, SUZ returned 10.83%/yr vs 6.32%/yr for GSG. At a 0.12 correlation, their price movements are largely independent.
Performance
SUZ vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, SUZ achieves a -13.16% return, which is significantly lower than GSG's 22.42% return. Over the past 10 years, SUZ has outperformed GSG with an annualized return of 10.83%, while GSG has yielded a comparatively lower 6.32% annualized return.
SUZ
- 1D
- 0.87%
- 1M
- -2.41%
- YTD
- -13.16%
- 6M
- -12.50%
- 1Y
- -11.91%
- 3Y*
- -2.81%
- 5Y*
- -4.73%
- 10Y*
- 10.83%
GSG
- 1D
- -2.49%
- 1M
- -15.10%
- YTD
- 22.42%
- 6M
- 21.05%
- 1Y
- 27.68%
- 3Y*
- 13.07%
- 5Y*
- 12.18%
- 10Y*
- 6.32%
SUZ vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SUZ Suzano S.A. | -13.16% | -5.68% | -7.94% | 25.85% | -9.16% | -3.40% | 13.62% | 0.50% | 65.71% | 48.72% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 22.42% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between SUZ 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 | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2007 | 0.12 |
The correlation between SUZ and GSG shifts across timeframes, from -0.20 (1 year) to 0.15 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SUZ vs. GSG — Risk / Return Rank
SUZ
GSG
SUZ vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Suzano S.A. (SUZ) 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.
| SUZ | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.23 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.23 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 1.48 | -1.88 |
| Martin ratioReturn relative to average drawdown | -0.88 | 6.67 | -7.55 |
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Drawdowns
SUZ vs. GSG - Drawdown Comparison
The maximum SUZ drawdown since its inception was -85.59%, roughly equal to the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for SUZ and GSG.
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Drawdown Indicators
| SUZ | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.59% | -89.62% | +4.03% |
Max Drawdown (1Y)Largest decline over 1 year | -30.01% | -18.81% | -11.20% |
Max Drawdown (3Y)Largest decline over 3 years | -34.24% | -18.81% | -15.43% |
Max Drawdown (5Y)Largest decline over 5 years | -38.20% | -29.12% | -9.08% |
Max Drawdown (10Y)Largest decline over 10 years | -65.05% | -57.64% | -7.41% |
Current DrawdownCurrent decline from peak | -46.30% | -63.04% | +16.74% |
Average DrawdownAverage peak-to-trough decline | -50.80% | -63.69% | +12.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.49% | 4.16% | +9.33% |
Volatility
SUZ vs. GSG - Volatility Comparison
Suzano S.A. (SUZ) has a higher volatility of 6.08% compared to iShares S&P GSCI Commodity-Indexed Trust (GSG) at 5.75%. This indicates that SUZ's price experiences larger fluctuations and is considered to be riskier 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
| SUZ | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.08% | 5.75% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 23.03% | 20.98% | +2.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.36% | 22.98% | +5.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.37% | 22.70% | +8.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.20% | 22.02% | +20.18% |
Dividends
SUZ vs. GSG - Dividend Comparison
SUZ's dividend yield for the trailing twelve months is around 2.52%, 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% |
SUZ Suzano S.A. | 2.52% | 2.18% | 3.33% | 2.10% | 6.49% | 0.00% | 0.00% | 1.17% | 0.50% | 4.30% | 1.64% | 1.44% |
Frequently Asked Questions
SUZ 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.
SUZ has higher volatility (6.08%) compared to GSG (5.75%). In terms of maximum drawdown, SUZ dropped -85.59% vs GSG's -89.62%.
GSG currently has the higher Sharpe Ratio (1.22 vs -0.42), 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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