VBU.NEO vs. GSG
VBU.NEO (Vanguard U.S. Aggregate Bond Index ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - VBU.NEO is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Bond Index (CAD Hedged), while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, VBU.NEO returned -0.16%/yr vs 8.30%/yr for GSG. At a correlation of -0.12, they often move in opposite directions. VBU.NEO charges 0.22%/yr vs 0.75%/yr for GSG.
Performance
VBU.NEO vs. GSG - Performance Comparison
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Different Trading Currencies
VBU.NEO is traded in CAD, while GSG is traded in USD. To make them comparable, the GSG values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VBU.NEO achieves a -2.13% return, which is significantly lower than GSG's 42.39% return. Over the past 10 years, VBU.NEO has underperformed GSG with an annualized return of -0.16%, while GSG has yielded a comparatively higher 8.30% annualized return.
VBU.NEO
- 1D
- 0.14%
- 1M
- -0.19%
- YTD
- -2.13%
- 6M
- -2.49%
- 1Y
- -1.03%
- 3Y*
- -0.45%
- 5Y*
- -2.71%
- 10Y*
- -0.16%
GSG
- 1D
- -1.39%
- 1M
- -3.30%
- YTD
- 42.39%
- 6M
- 37.71%
- 1Y
- 52.22%
- 3Y*
- 20.13%
- 5Y*
- 18.72%
- 10Y*
- 8.30%
VBU.NEO vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBU.NEO Vanguard U.S. Aggregate Bond Index ETF | -2.13% | 1.31% | -2.90% | 4.56% | -13.69% | -2.10% | 7.24% | 7.76% | -1.05% | 3.47% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.39% | 1.07% | 17.85% | -7.59% | 32.92% | 37.51% | -25.22% | 9.94% | -6.58% | -2.72% |
Correlation
The correlation between VBU.NEO and GSG is -0.36, 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 | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2014 | -0.12 |
Over the past year, the inverse relationship between VBU.NEO and GSG has strengthened: their correlation has moved from -0.12 to -0.36, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
VBU.NEO vs. GSG — Risk / Return Rank
VBU.NEO
GSG
VBU.NEO vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard U.S. Aggregate Bond Index ETF (VBU.NEO) 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.
| VBU.NEO | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.48 | ||
| Sortino ratioReturn per unit of downside risk | -3.18 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.41 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 4.81 | -5.04 |
| Martin ratioReturn relative to average drawdown | -0.59 | 14.40 | -14.99 |
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
| VBU.NEO | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.22 | 2.26 | -2.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | 0.88 | -1.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.03 | 0.41 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.08 | -0.01 |
Drawdowns
VBU.NEO vs. GSG - Drawdown Comparison
The maximum VBU.NEO drawdown since its inception was -19.38%, smaller than the maximum GSG drawdown of -70.46%. Use the drawdown chart below to compare losses from any high point for VBU.NEO and GSG.
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Drawdown Indicators
| VBU.NEO | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.38% | -70.46% | +51.08% |
Max Drawdown (1Y)Largest decline over 1 year | -4.55% | -10.91% | +6.36% |
Max Drawdown (3Y)Largest decline over 3 years | -6.80% | -14.75% | +7.95% |
Max Drawdown (5Y)Largest decline over 5 years | -18.46% | -24.20% | +5.74% |
Max Drawdown (10Y)Largest decline over 10 years | -19.38% | -53.90% | +34.52% |
Current DrawdownCurrent decline from peak | -15.47% | -5.72% | -9.75% |
Average DrawdownAverage peak-to-trough decline | -6.05% | -28.09% | +22.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 3.64% | -1.90% |
Volatility
VBU.NEO vs. GSG - Volatility Comparison
The current volatility for Vanguard U.S. Aggregate Bond Index ETF (VBU.NEO) is 2.45%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.82%. This indicates that VBU.NEO 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
| VBU.NEO | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.45% | 7.82% | -5.37% |
Volatility (6M)Calculated over the trailing 6-month period | 3.49% | 20.43% | -16.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.79% | 23.18% | -18.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.33% | 21.36% | -15.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.97% | 20.41% | -14.44% |
VBU.NEO vs. GSG - Expense Ratio Comparison
VBU.NEO has a 0.22% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
VBU.NEO vs. GSG - Dividend Comparison
Neither VBU.NEO nor GSG has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VBU.NEO Vanguard U.S. Aggregate Bond Index ETF | 0.00% | 0.00% | 0.24% | 2.72% | 2.31% | 1.83% | 2.14% | 2.36% | 2.28% | 2.20% | 2.19% | 2.18% |
Frequently Asked Questions
VBU.NEO and GSG have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VBU.NEO is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VBU.NEO is cheaper with a 0.22% expense ratio, compared with 0.75% for GSG.
VBU.NEO is categorized as Total Bond Market, while GSG is Commodities. VBU.NEO tracks Bloomberg U.S. Aggregate Float Adjusted Bond Index (CAD Hedged), while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.22% for VBU.NEO and 0.75% for GSG.
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