UBND vs. GSG
UBND (VictoryShares Core Plus Intermediate Bond ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - UBND is a Intermediate Core-Plus Bond fund actively managed by Victory, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. UBND is actively managed, while GSG is passively managed. Over the past 3 years, UBND returned 4.91%/yr vs 19.31%/yr for GSG. At a correlation of -0.12, they often move in opposite directions. UBND charges 0.40%/yr vs 0.75%/yr for GSG.
Performance
UBND vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, UBND achieves a 0.23% return, which is significantly lower than GSG's 42.58% return.
UBND
- 1D
- -0.18%
- 1M
- 0.25%
- YTD
- 0.23%
- 6M
- 0.36%
- 1Y
- 5.64%
- 3Y*
- 4.91%
- 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%
UBND vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
UBND VictoryShares Core Plus Intermediate Bond ETF | 0.23% | 7.79% | 3.04% | 7.37% | -12.72% | 0.12% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.58% | 5.93% | 8.52% | -5.51% | 24.08% | -2.45% |
Correlation
The correlation between UBND and GSG is -0.38, 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 | -0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2021 | -0.12 |
Over the past year, the inverse relationship between UBND and GSG has strengthened: their correlation has moved from -0.12 to -0.38, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
UBND vs. GSG — Risk / Return Rank
UBND
GSG
UBND vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares Core Plus Intermediate Bond ETF (UBND) 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.
| UBND | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.40 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 5.47 | -3.31 |
| Martin ratioReturn relative to average drawdown | 6.89 | 14.39 | -7.51 |
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
| UBND | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.60 | 2.26 | -0.65 |
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 | 0.16 | -0.09 | +0.25 |
Drawdowns
UBND vs. GSG - Drawdown Comparison
The maximum UBND drawdown since its inception was -16.53%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for UBND and GSG.
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Drawdown Indicators
| UBND | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.53% | -89.62% | +73.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -9.46% | +6.84% |
Max Drawdown (3Y)Largest decline over 3 years | -5.07% | -14.94% | +9.87% |
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 | -1.34% | -56.95% | +55.61% |
Average DrawdownAverage peak-to-trough decline | -5.45% | -63.71% | +58.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 3.59% | -2.77% |
Volatility
UBND vs. GSG - Volatility Comparison
The current volatility for VictoryShares Core Plus Intermediate Bond ETF (UBND) is 1.26%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that UBND 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
| UBND | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 7.65% | -6.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 20.42% | -18.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.53% | 22.95% | -19.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.80% | 22.61% | -16.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.80% | 22.03% | -16.23% |
UBND vs. GSG - Expense Ratio Comparison
UBND has a 0.40% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
UBND vs. GSG - Dividend Comparison
UBND's dividend yield for the trailing twelve months is around 4.77%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UBND VictoryShares Core Plus Intermediate Bond ETF | 4.77% | 4.56% | 4.63% | 4.37% | 3.28% | 0.28% |
Frequently Asked Questions
UBND and GSG have a correlation of -0.38, 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 UBND (1.26%). In terms of maximum drawdown, UBND dropped -16.53% vs GSG's -89.62%.
On 3-year performance, GSG leads with 19.31% vs 4.91% for UBND. On fees, UBND is cheaper at 0.40% per year. On volatility, UBND has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GSG has performed better with a 19.31% return vs 4.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UBND is cheaper with a 0.40% expense ratio, compared with 0.75% for GSG.
UBND has the higher dividend yield at 4.77%, compared with 0.00% for GSG.
UBND is categorized as Intermediate Core-Plus Bond, while GSG is Commodities. They also come from different issuers: Victory and iShares. Their fees differ too: 0.40% for UBND and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (2.26 vs 1.60), 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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