TUSB vs. GSG
TUSB (Thrivent Ultra Short Bond ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - TUSB is a Ultrashort Bond fund actively managed by Thrivent, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. TUSB is actively managed, while GSG is passively managed. Over the past year, TUSB returned 4.62% vs 51.52% for GSG. At a correlation of -0.05, they often move in opposite directions. TUSB charges 0.20%/yr vs 0.75%/yr for GSG.
Performance
TUSB vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, TUSB achieves a 1.78% return, which is significantly lower than GSG's 42.58% return.
TUSB
- 1D
- -0.10%
- 1M
- 0.44%
- YTD
- 1.78%
- 6M
- 2.09%
- 1Y
- 4.62%
- 3Y*
- —
- 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%
TUSB vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TUSB Thrivent Ultra Short Bond ETF | 1.78% | 4.14% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.58% | -0.22% |
Correlation
The correlation between TUSB and GSG is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | -0.05 |
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Return for Risk
TUSB vs. GSG — Risk / Return Rank
TUSB
GSG
TUSB vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thrivent Ultra Short Bond ETF (TUSB) 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.
| TUSB | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.77 | ||
| Sortino ratioReturn per unit of downside risk | +6.09 | ||
| Omega ratioGain probability vs. loss probability | 2.24 | 1.40 | +0.84 |
| Calmar ratioReturn relative to maximum drawdown | 18.74 | 5.47 | +13.27 |
| Martin ratioReturn relative to average drawdown | 79.65 | 14.39 | +65.25 |
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
| TUSB | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.03 | 2.26 | +2.77 |
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 | 3.73 | -0.09 | +3.82 |
Drawdowns
TUSB vs. GSG - Drawdown Comparison
The maximum TUSB drawdown since its inception was -0.51%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for TUSB and GSG.
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Drawdown Indicators
| TUSB | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.51% | -89.62% | +89.11% |
Max Drawdown (1Y)Largest decline over 1 year | -0.25% | -9.46% | +9.21% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.94% | — |
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 | -0.13% | -56.95% | +56.82% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -63.71% | +63.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 3.59% | -3.53% |
Volatility
TUSB vs. GSG - Volatility Comparison
The current volatility for Thrivent Ultra Short Bond ETF (TUSB) is 0.33%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that TUSB 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
| TUSB | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 7.65% | -7.32% |
Volatility (6M)Calculated over the trailing 6-month period | 0.66% | 20.42% | -19.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.92% | 22.95% | -22.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.25% | 22.61% | -21.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.25% | 22.03% | -20.78% |
TUSB vs. GSG - Expense Ratio Comparison
TUSB has a 0.20% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
TUSB vs. GSG - Dividend Comparison
TUSB's dividend yield for the trailing twelve months is around 4.26%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% |
TUSB Thrivent Ultra Short Bond ETF | 4.26% | 3.62% |
Frequently Asked Questions
TUSB and GSG have a correlation of -0.10, 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 TUSB (0.33%). In terms of maximum drawdown, TUSB dropped -0.51% vs GSG's -89.62%.
On 1-year performance, GSG leads with 51.52% vs 4.62% for TUSB. On fees, TUSB is cheaper at 0.20% per year. On volatility, TUSB has been the lower-risk option at 0.33%. 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 51.52% return vs 4.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TUSB is cheaper with a 0.20% expense ratio, compared with 0.75% for GSG.
TUSB has the higher dividend yield at 4.26%, compared with 0.00% for GSG.
TUSB is categorized as Ultrashort Bond, while GSG is Commodities. They also come from different issuers: Thrivent and iShares. Their fees differ too: 0.20% for TUSB and 0.75% for GSG.
TUSB currently has the higher Sharpe Ratio (5.03 vs 2.26), 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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