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VBND vs. GSG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VBND vs. GSG

Last updated Jun 5, 2026

VBND (Vident U.S. Bond Strategy ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - VBND is a Intermediate Core-Plus Bond fund tracking the Vident Core U.S. Bond Strategy Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, VBND returned 1.59%/yr vs 7.42%/yr for GSG. At a correlation of -0.08, they often move in opposite directions. VBND charges 0.41%/yr vs 0.75%/yr for GSG.

Performance

VBND vs. GSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vident U.S. Bond Strategy ETF (VBND) 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, VBND achieves a 0.42% return, which is significantly lower than GSG's 40.46% return. Over the past 10 years, VBND has underperformed GSG with an annualized return of 1.59%, while GSG has yielded a comparatively higher 7.42% annualized return.

VBND

1D
0.02%
1M
0.48%
YTD
0.42%
6M
0.79%
1Y
5.06%
3Y*
4.74%
5Y*
0.42%
10Y*
1.59%

GSG

1D
-1.49%
1M
-5.32%
YTD
40.46%
6M
38.18%
1Y
49.68%
3Y*
18.78%
5Y*
15.39%
10Y*
7.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VBND vs. GSG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VBND
Vident U.S. Bond Strategy ETF		0.42%7.31%1.26%8.16%-14.18%-0.43%5.37%9.50%-0.96%3.15%
GSG
iShares S&P GSCI Commodity-Indexed Trust		40.46%5.93%8.52%-5.51%24.08%38.77%-23.94%15.62%-13.88%3.89%

Correlation

The correlation between VBND and GSG is -0.33, 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

-0.33

Correlation (3Y)
Calculated over the trailing 3-year period

-0.15

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

-0.10

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

-0.06

Correlation (All Time)
Calculated using the full available price history since Oct 17, 2014

-0.08

Over the past year, the inverse relationship between VBND and GSG has strengthened: their correlation has moved from -0.08 to -0.33, meaning they now move in opposite directions more often than their long-term average.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vident U.S. Bond Strategy ETF

iShares S&P GSCI Commodity-Indexed Trust

Often compared with VBND:
VBND vs. BNDVBND vs. ABNDXVBND vs. IEFVBND vs. FBNDVBND vs. VOOVBND vs. SPYVBND vs. TIP
Often compared with GSG:
GSG vs. DBCGSG vs. PDBCGSG vs. COMTGSG vs. VCMDXGSG vs. GLDGSG vs. HGERGSG vs. CGL.TO

Return for Risk

VBND vs. GSG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VBND
VBND Risk / Return Rank: 3333
Overall Rank
VBND Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
VBND Sortino Ratio Rank: 3434
Sortino Ratio Rank
VBND Omega Ratio Rank: 3030
Omega Ratio Rank
VBND Calmar Ratio Rank: 3737
Calmar Ratio Rank
VBND Martin Ratio Rank: 3333
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: 6666
Omega Ratio Rank
GSG Calmar Ratio Rank: 8989
Calmar Ratio Rank
GSG Martin Ratio Rank: 7474
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.

VBND vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vident U.S. Bond Strategy ETF (VBND) 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.

VBNDGSGDifference
Sharpe ratioReturn per unit of total volatility
1.18
2.17

-0.99

Sortino ratioReturn per unit of downside risk
1.77
2.79

-1.01

Omega ratioGain probability vs. loss probability

1.20

1.39

-0.19

Calmar ratioReturn relative to maximum drawdown

1.80

5.28

-3.48

Martin ratioReturn relative to average drawdown

4.84

13.78

-8.94

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

VBND vs. GSG - Sharpe Ratio Comparison

The current VBND Sharpe Ratio is 1.18, which is lower than the GSG Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of VBND 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

VBNDGSGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.18

2.17

-0.99

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.07

0.68

-0.62

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.29

0.34

-0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.31

-0.09

+0.40

Drawdowns

VBND vs. GSG - Drawdown Comparison

The maximum VBND drawdown since its inception was -18.97%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for VBND and GSG.

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Drawdown Indicators

VBNDGSGDifference

Max Drawdown

Largest peak-to-trough decline

-18.97%

-89.62%

+70.65%

Max Drawdown (1Y)

Largest decline over 1 year

-2.82%

-9.46%

+6.64%

Max Drawdown (3Y)

Largest decline over 3 years

-4.60%

-14.94%

+10.34%

Max Drawdown (5Y)

Largest decline over 5 years

-18.97%

-29.12%

+10.15%

Max Drawdown (10Y)

Largest decline over 10 years

-18.97%

-57.64%

+38.67%

Current Drawdown

Current decline from peak

-0.85%

-57.59%

+56.74%

Average Drawdown

Average peak-to-trough decline

-4.21%

-63.71%

+59.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.05%

3.62%

-2.57%

Volatility

VBND vs. GSG - Volatility Comparison

The current volatility for Vident U.S. Bond Strategy ETF (VBND) is 1.49%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.72%. This indicates that VBND 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

VBNDGSGDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.49%

7.72%

-6.23%

Volatility (6M)

Calculated over the trailing 6-month period

2.91%

20.48%

-17.57%

Volatility (1Y)

Calculated over the trailing 1-year period

4.36%

23.01%

-18.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.11%

22.61%

-16.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.45%

22.03%

-16.58%

VBND vs. GSG - Expense Ratio Comparison

VBND has a 0.41% expense ratio, which is lower than GSG's 0.75% expense ratio.

Dividends

VBND vs. GSG - Dividend Comparison

VBND's dividend yield for the trailing twelve months is around 4.23%, 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%
VBND
Vident U.S. Bond Strategy ETF		4.23%4.22%4.41%3.88%2.55%1.56%1.98%3.14%2.82%2.00%3.12%1.49%

Frequently Asked Questions

VBND and GSG have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GSG has higher volatility (7.72%) compared to VBND (1.49%). In terms of maximum drawdown, VBND dropped -18.97% vs GSG's -89.62%.

On 10-year performance, GSG leads with 7.42% vs 1.59% for VBND. On fees, VBND is cheaper at 0.41% per year. On volatility, VBND has been the lower-risk option at 1.49%. 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 7.42% return vs 1.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VBND is cheaper with a 0.41% expense ratio, compared with 0.75% for GSG.

VBND has the higher dividend yield at 4.23%, compared with 0.00% for GSG.

VBND is categorized as Intermediate Core-Plus Bond, while GSG is Commodities. VBND tracks Vident Core U.S. Bond Strategy Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Vident and iShares. Their fees differ too: 0.41% for VBND and 0.75% for GSG.

GSG currently has the higher Sharpe Ratio (2.17 vs 1.18), 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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