TSPY vs. GSG
TSPY (TappAlpha S&P 500 Growth & Daily Income ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - TSPY is a Derivative Income fund actively managed by TappAlpha, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. TSPY is actively managed, while GSG is passively managed. Over the past year, TSPY returned 21.77% vs 36.06% for GSG. Their -0.07 correlation means they have often moved in opposite directions in the past. TSPY charges 0.68%/yr vs 0.75%/yr for GSG.
Performance
TSPY vs. GSG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TSPY achieves a 11.19% return, which is significantly lower than GSG's 32.05% return.
TSPY
- 1D
- 1.46%
- 1M
- 3.18%
- 6M
- 9.81%
- YTD
- 11.19%
- 1Y
- 21.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.22%
GSG
- 1D
- -2.34%
- 1M
- 7.33%
- 6M
- 21.51%
- YTD
- 32.05%
- 1Y
- 36.06%
- 3Y*
- 12.37%
- 5Y*
- 13.92%
- 10Y*
- 7.99%
- ALL TIME*
- -2.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $18.82M | $16.77M | $25.29M | |
| $6.21M | $5.16M | $5.48M |
TSPY vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TSPY TappAlpha S&P 500 Growth & Daily Income ETF | 11.19% | 17.29% | 6.59% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.05% | 5.93% | 2.69% |
Correlation
The correlation between TSPY and GSG is -0.21, 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. | -0.21 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2024 | -0.07 |
The correlation between TSPY and GSG shifts across timeframes, from -0.21 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TSPY vs. GSG — Risk / Return Rank
TSPY
GSG
TSPY vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) 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.
| TSPY | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.26 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 1.93 | +0.34 |
| Martin ratioReturn relative to average drawdown | 9.50 | 6.13 | +3.37 |
Loading charts...
Drawdowns
TSPY vs. GSG - Drawdown Comparison
The maximum TSPY drawdown since its inception was -18.02%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for TSPY and GSG.
Loading charts...
Drawdown Indicators
| TSPY | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.02% | -89.62% | +71.60% |
Max Drawdown (1Y)Largest decline over 1 year | -9.63% | -18.81% | +9.18% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.81% | — |
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 | 0.00% | -60.13% | +60.13% |
Average DrawdownAverage peak-to-trough decline | -2.45% | -63.67% | +61.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 5.90% | -3.60% |
Volatility
TSPY vs. GSG - Volatility Comparison
The current volatility for TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) is 4.33%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 9.06%. This indicates that TSPY 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.
Loading charts...
Volatility by Period
| TSPY | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 9.06% | -4.73% |
Volatility (6M)Calculated over the trailing 6-month period | 10.05% | 22.00% | -11.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.72% | 24.45% | -11.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 22.90% | -6.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.97% | 22.09% | -6.12% |
TSPY vs. GSG - Expense Ratio Comparison
TSPY has a 0.68% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
TSPY vs. GSG - Dividend Comparison
TSPY's dividend yield for the trailing twelve months is around 14.95%, 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% |
TSPY TappAlpha S&P 500 Growth & Daily Income ETF | 14.95% | 13.69% | 3.45% |
Frequently Asked Questions
TSPY and GSG have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (9.06%) compared to TSPY (4.33%). In terms of maximum drawdown, TSPY dropped -18.02% vs GSG's -89.62%.
On 1-year performance, GSG leads with 36.06% vs 21.77% for TSPY. On fees, TSPY is cheaper at 0.68% per year. On volatility, TSPY has been the lower-risk option at 4.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GSG has performed better with a 36.06% return vs 21.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSPY is cheaper with a 0.68% expense ratio, compared with 0.75% for GSG.
TSPY has the higher dividend yield at 14.95%, compared with 0.00% for GSG.
TSPY is categorized as Derivative Income, while GSG is Commodities. They also come from different issuers: TappAlpha and iShares. Their fees differ too: 0.68% for TSPY and 0.75% for GSG.
TSPY currently has the higher Sharpe Ratio (1.73 vs 1.48), 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.
Find the right allocation for TSPY and GSG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer