URTY vs. GSG
URTY (ProShares UltraPro Russell2000) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - URTY is a Leveraged Equities fund tracking the Russell 2000 Index (300%), while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, URTY returned 7.12%/yr vs 8.03%/yr for GSG. Their 0.31 correlation means their historical movements had little consistent relationship. URTY charges 0.95%/yr vs 0.75%/yr for GSG.
Performance
URTY vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, URTY achieves a 61.35% return, which is significantly higher than GSG's 32.52% return. Over the past 10 years, URTY has underperformed GSG with an annualized return of 7.12%, while GSG has yielded a comparatively higher 8.03% annualized return.
URTY
- 1D
- -1.94%
- 1M
- -0.62%
- 6M
- 38.47%
- YTD
- 61.35%
- 1Y
- 108.85%
- 3Y*
- 24.45%
- 5Y*
- -3.54%
- 10Y*
- 7.12%
- ALL TIME*
- 14.30%
GSG
- 1D
- 0.36%
- 1M
- 5.78%
- 6M
- 21.95%
- YTD
- 32.52%
- 1Y
- 37.47%
- 3Y*
- 12.51%
- 5Y*
- 14.20%
- 10Y*
- 8.03%
- ALL TIME*
- -2.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $18.96M | $16.42M | $22.87M | |
| $37.95M | $37.15M | $67.29M |
URTY vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
URTY ProShares UltraPro Russell2000 | 61.35% | 9.26% | 7.38% | 24.43% | -62.81% | 28.47% | -7.72% | 72.37% | -39.59% | 38.85% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.52% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between URTY 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 (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.15 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | 0.31 |
The correlation between URTY and GSG shifts across timeframes, from -0.21 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
URTY vs. GSG — Risk / Return Rank
URTY
GSG
URTY vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Russell2000 (URTY) 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.
| URTY | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.27 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.36 | 2.00 | +1.36 |
| Martin ratioReturn relative to average drawdown | 11.02 | 6.32 | +4.70 |
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Drawdowns
URTY vs. GSG - Drawdown Comparison
The maximum URTY drawdown since its inception was -88.09%, roughly equal to the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for URTY and GSG.
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Drawdown Indicators
| URTY | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.09% | -89.62% | +1.53% |
Max Drawdown (1Y)Largest decline over 1 year | -32.56% | -18.81% | -13.75% |
Max Drawdown (3Y)Largest decline over 3 years | -65.85% | -18.81% | -47.04% |
Max Drawdown (5Y)Largest decline over 5 years | -82.76% | -29.12% | -53.64% |
Max Drawdown (10Y)Largest decline over 10 years | -88.09% | -57.64% | -30.45% |
Current DrawdownCurrent decline from peak | -33.57% | -59.99% | +26.42% |
Average DrawdownAverage peak-to-trough decline | -34.80% | -63.67% | +28.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.92% | 5.94% | +3.98% |
Volatility
URTY vs. GSG - Volatility Comparison
ProShares UltraPro Russell2000 (URTY) has a higher volatility of 13.50% compared to iShares S&P GSCI Commodity-Indexed Trust (GSG) at 8.99%. This indicates that URTY'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
| URTY | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.50% | 8.99% | +4.51% |
Volatility (6M)Calculated over the trailing 6-month period | 42.53% | 21.89% | +20.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.73% | 24.44% | +33.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.34% | 22.90% | +44.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.27% | 22.08% | +47.19% |
URTY vs. GSG - Expense Ratio Comparison
URTY has a 0.95% expense ratio, which is higher than GSG's 0.75% expense ratio.
Dividends
URTY vs. GSG - Dividend Comparison
URTY's dividend yield for the trailing twelve months is around 0.74%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
URTY ProShares UltraPro Russell2000 | 0.74% | 1.02% | 1.16% | 0.55% | 0.28% | 0.00% | 0.00% | 0.18% | 0.28% | 0.00% | 0.03% |
Frequently Asked Questions
URTY 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.
URTY has higher volatility (13.50%) compared to GSG (8.99%). In terms of maximum drawdown, URTY dropped -88.09% vs GSG's -89.62%.
On 10-year performance, GSG leads with 8.03% vs 7.12% for URTY. On fees, GSG is cheaper at 0.75% per year. On volatility, GSG has been the lower-risk option at 8.99%. 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 8.03% return vs 7.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSG is cheaper with a 0.75% expense ratio, compared with 0.95% for URTY.
URTY has the higher dividend yield at 0.74%, compared with 0.00% for GSG.
URTY is categorized as Leveraged Equities, while GSG is Commodities. URTY tracks Russell 2000 Index (300%), while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for URTY and 0.75% for GSG.
URTY currently has the higher Sharpe Ratio (1.90 vs 1.54), 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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