SYSB vs. GSG
SYSB (iShares Systematic Bond ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - SYSB is a Intermediate Core-Plus Bond fund tracking the BlackRock Universal Systematic Bond Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, SYSB returned 2.10%/yr vs 8.91%/yr for GSG. Their -0.00 correlation means they have often moved in opposite directions in the past. SYSB charges 0.25%/yr vs 0.75%/yr for GSG.
Performance
SYSB vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, SYSB achieves a -0.64% return, which is significantly lower than GSG's 38.94% return. Over the past 10 years, SYSB has underperformed GSG with an annualized return of 2.10%, while GSG has yielded a comparatively higher 8.91% annualized return.
SYSB
- 1D
- -0.22%
- 1M
- -1.31%
- 6M
- -0.94%
- YTD
- -0.64%
- 1Y
- 2.56%
- 3Y*
- 6.36%
- 5Y*
- 1.13%
- 10Y*
- 2.10%
- ALL TIME*
- 2.28%
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 | |
| $4.79M | $5.34M | $7.44M |
SYSB vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SYSB iShares Systematic Bond ETF | -0.64% | 8.32% | 6.04% | 8.22% | -13.57% | -1.00% | 3.31% | 10.03% | -0.93% | 3.89% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 38.94% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between SYSB and GSG is -0.40, 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. | -0.40 |
Correlation (3Y) Balances recent behavior with more history. | -0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.05 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2015 | -0.00 |
Over the past year, the inverse relationship between SYSB and GSG has strengthened: their correlation has moved from -0.00 to -0.40, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
SYSB vs. GSG — Risk / Return Rank
SYSB
GSG
SYSB vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Systematic Bond ETF (SYSB) 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.
| SYSB | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.29 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 2.16 | -1.12 |
| Martin ratioReturn relative to average drawdown | 2.61 | 6.99 | -4.38 |
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Drawdowns
SYSB vs. GSG - Drawdown Comparison
The maximum SYSB drawdown since its inception was -18.47%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for SYSB and GSG.
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Drawdown Indicators
| SYSB | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.47% | -89.62% | +71.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -18.81% | +15.82% |
Max Drawdown (3Y)Largest decline over 3 years | -2.99% | -18.81% | +15.82% |
Max Drawdown (5Y)Largest decline over 5 years | -18.47% | -29.12% | +10.65% |
Max Drawdown (10Y)Largest decline over 10 years | -18.47% | -57.64% | +39.17% |
Current DrawdownCurrent decline from peak | -2.47% | -58.05% | +55.58% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -63.67% | +60.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 5.84% | -4.65% |
Volatility
SYSB vs. GSG - Volatility Comparison
The current volatility for iShares Systematic Bond ETF (SYSB) is 1.06%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 8.11%. This indicates that SYSB 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
| SYSB | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 8.11% | -7.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.18% | 22.18% | -19.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.06% | 24.23% | -20.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.66% | 22.86% | -17.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.93% | 22.06% | -17.13% |
SYSB vs. GSG - Expense Ratio Comparison
SYSB has a 0.25% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
SYSB vs. GSG - Dividend Comparison
SYSB's dividend yield for the trailing twelve months is around 4.61%, 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% |
SYSB iShares Systematic Bond ETF | 4.21% | 4.78% | 5.04% | 4.44% | 3.27% | 1.92% | 2.57% | 3.27% | 3.61% | 2.74% | 2.92% | 2.26% |
Frequently Asked Questions
SYSB and GSG have a correlation of -0.40, 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 SYSB (1.06%). In terms of maximum drawdown, SYSB dropped -18.47% vs GSG's -89.62%.
On 10-year performance, GSG leads with 8.91% vs 2.10% for SYSB. On fees, SYSB is cheaper at 0.25% per year. On volatility, SYSB has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GSG has performed better with a 8.91% return vs 2.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SYSB is cheaper with a 0.25% expense ratio, compared with 0.75% for GSG.
SYSB has the higher dividend yield at 4.21%, compared with 0.00% for GSG.
SYSB is categorized as Intermediate Core-Plus Bond, while GSG is Commodities. SYSB tracks BlackRock Universal Systematic Bond Index, while GSG tracks S&P GSCI Total Return Index. Their fees differ too: 0.25% for SYSB and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.68 vs 0.77), 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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