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UYM vs. GSG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UYM vs. GSG

Last updated Jun 4, 2026

UYM (ProShares Ultra Basic Materials) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - UYM is a Leveraged Equities fund tracking the Dow Jones U.S. Basic Materials Index (200%), while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, UYM returned 11.91%/yr vs 7.69%/yr for GSG. At a 0.41 correlation, their price movements are largely independent. UYM charges 0.95%/yr vs 0.75%/yr for GSG.

Performance

UYM vs. GSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Basic Materials (UYM) and iShares S&P GSCI Commodity-Indexed Trust (GSG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UYM achieves a 25.72% return, which is significantly lower than GSG's 42.58% return. Over the past 10 years, UYM has outperformed GSG with an annualized return of 11.91%, while GSG has yielded a comparatively lower 7.69% annualized return.

UYM

1D
0.51%
1M
3.42%
YTD
25.72%
6M
31.43%
1Y
32.36%
3Y*
13.51%
5Y*
3.33%
10Y*
11.91%

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UYM vs. GSG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UYM
ProShares Ultra Basic Materials		25.72%9.46%-8.00%17.47%-23.10%54.58%16.56%35.09%-35.68%51.51%
GSG
iShares S&P GSCI Commodity-Indexed Trust		42.58%5.93%8.52%-5.51%24.08%38.77%-23.94%15.62%-13.88%3.89%

Correlation

The correlation between UYM 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 (3Y)
Calculated over the trailing 3-year period

0.10

Correlation (5Y)
Calculated over the trailing 5-year period

0.25

Correlation (10Y)
Calculated over the trailing 10-year period

0.31

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2007

0.41

The correlation between UYM and GSG shifts across timeframes, from -0.10 (1 year) to 0.41 (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.

ProShares Ultra Basic Materials

iShares S&P GSCI Commodity-Indexed Trust

Often compared with UYM:
UYM vs. FXZUYM vs. TQQQUYM vs. QLDUYM vs. PYZUYM vs. XLBUYM vs. QQQUYM vs. UXI
Often compared with GSG:
GSG vs. DBCGSG vs. PDBCGSG vs. COMTGSG vs. VCMDXGSG vs. GLDGSG vs. HGERGSG vs. CGL.TO

Return for Risk

UYM vs. GSG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UYM
UYM Risk / Return Rank: 2727
Overall Rank
UYM Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
UYM Sortino Ratio Rank: 2727
Sortino Ratio Rank
UYM Omega Ratio Rank: 2626
Omega Ratio Rank
UYM Calmar Ratio Rank: 2828
Calmar Ratio Rank
UYM Martin Ratio Rank: 2727
Martin Ratio Rank
GSG
GSG Risk / Return Rank: 7171
Overall Rank
GSG Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
GSG Sortino Ratio Rank: 6060
Sortino Ratio Rank
GSG Omega Ratio Rank: 6565
Omega Ratio Rank
GSG Calmar Ratio Rank: 8989
Calmar Ratio Rank
GSG Martin Ratio Rank: 7575
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UYM vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Basic Materials (UYM) 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.

UYMGSGDifference

Sharpe ratio

Return per unit of total volatility

0.97

2.26

-1.29

Sortino ratio

Return per unit of downside risk

1.49

2.88

-1.39

Omega ratio

Gain probability vs. loss probability

1.18

1.40

-0.23

Calmar ratio

Return relative to maximum drawdown

1.36

5.47

-4.11

Martin ratio

Return relative to average drawdown

3.71

14.39

-10.68

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UYM vs. GSG - Sharpe Ratio Comparison

The current UYM Sharpe Ratio is 0.97, which is lower than the GSG Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of UYM and GSG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

UYMGSGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.97

2.26

-1.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.09

0.70

-0.61

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.28

0.35

-0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.09

-0.09

+0.17

Drawdowns

UYM vs. GSG - Drawdown Comparison

The maximum UYM drawdown since its inception was -92.77%, roughly equal to the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for UYM and GSG.

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Drawdown Indicators

UYMGSGDifference

Max Drawdown

Largest peak-to-trough decline

-92.77%

-89.62%

-3.15%

Max Drawdown (1Y)

Largest decline over 1 year

-23.85%

-9.46%

-14.39%

Max Drawdown (3Y)

Largest decline over 3 years

-43.88%

-14.94%

-28.94%

Max Drawdown (5Y)

Largest decline over 5 years

-48.25%

-29.12%

-19.13%

Max Drawdown (10Y)

Largest decline over 10 years

-73.31%

-57.64%

-15.67%

Current Drawdown

Current decline from peak

-8.94%

-56.95%

+48.01%

Average Drawdown

Average peak-to-trough decline

-42.11%

-63.71%

+21.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.73%

3.59%

+5.14%

Volatility

UYM vs. GSG - Volatility Comparison

ProShares Ultra Basic Materials (UYM) has a higher volatility of 11.55% compared to iShares S&P GSCI Commodity-Indexed Trust (GSG) at 7.65%. This indicates that UYM'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

UYMGSGDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.55%

7.65%

+3.90%

Volatility (6M)

Calculated over the trailing 6-month period

25.84%

20.42%

+5.42%

Volatility (1Y)

Calculated over the trailing 1-year period

33.71%

22.95%

+10.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.26%

22.61%

+16.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

42.76%

22.03%

+20.73%

UYM vs. GSG - Expense Ratio Comparison

UYM has a 0.95% expense ratio, which is higher than GSG's 0.75% expense ratio.

Dividends

UYM vs. GSG - Dividend Comparison

UYM's dividend yield for the trailing twelve months is around 1.21%, while GSG has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
UYM
ProShares Ultra Basic Materials		1.21%1.47%0.98%0.28%0.88%0.52%0.56%1.24%0.94%0.38%0.55%0.42%

Frequently Asked Questions

UYM 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.

UYM has higher volatility (11.55%) compared to GSG (7.65%). In terms of maximum drawdown, UYM dropped -92.77% vs GSG's -89.62%.

On 10-year performance, UYM leads with 11.91% vs 7.69% for GSG. On fees, GSG is cheaper at 0.75% per year. On volatility, GSG has been the lower-risk option at 7.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, UYM has performed better with a 11.91% return vs 7.69%. 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 UYM.

UYM has the higher dividend yield at 1.21%, compared with 0.00% for GSG.

UYM is categorized as Leveraged Equities, while GSG is Commodities. UYM tracks Dow Jones U.S. Basic Materials Index (200%), 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 UYM and 0.75% for GSG.

GSG currently has the higher Sharpe Ratio (2.26 vs 0.97), 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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