VCMDX vs. GSG
Compare and contrast key facts about Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) and iShares S&P GSCI Commodity-Indexed Trust (GSG).
VCMDX is managed by Vanguard. It was launched on Jun 25, 2019. GSG is a passively managed fund by iShares that tracks the performance of the S&P GSCI Total Return Index. It was launched on Jul 21, 2006.
Performance
VCMDX vs. GSG - Performance Comparison
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VCMDX vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VCMDX Vanguard Commodity Strategy Fund Admiral Shares | 18.30% | 18.20% | 5.27% | -7.45% | 13.83% | 34.82% | 5.07% | 2.74% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 39.85% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 2.08% |
Returns By Period
In the year-to-date period, VCMDX achieves a 18.30% return, which is significantly lower than GSG's 39.85% return.
VCMDX
- 1D
- 0.39%
- 1M
- 6.43%
- YTD
- 18.30%
- 6M
- 24.60%
- 1Y
- 26.59%
- 3Y*
- 12.12%
- 5Y*
- 14.20%
- 10Y*
- —
GSG
- 1D
- -1.01%
- 1M
- 24.23%
- YTD
- 39.85%
- 6M
- 40.40%
- 1Y
- 41.63%
- 3Y*
- 17.03%
- 5Y*
- 17.93%
- 10Y*
- 9.09%
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VCMDX vs. GSG - Expense Ratio Comparison
VCMDX has a 0.20% expense ratio, which is lower than GSG's 0.75% expense ratio.
Return for Risk
VCMDX vs. GSG — Risk / Return Rank
VCMDX
GSG
VCMDX vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) 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.
| VCMDX | GSG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.76 | 1.98 | -0.22 |
Sortino ratioReturn per unit of downside risk | 2.25 | 2.66 | -0.41 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.36 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 3.10 | 3.70 | -0.59 |
Martin ratioReturn relative to average drawdown | 9.46 | 10.32 | -0.86 |
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
| VCMDX | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.76 | 1.98 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 0.82 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | -0.09 | +0.93 |
Correlation
The correlation between VCMDX and GSG is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VCMDX vs. GSG - Dividend Comparison
VCMDX's dividend yield for the trailing twelve months is around 12.86%, while GSG has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VCMDX Vanguard Commodity Strategy Fund Admiral Shares | 12.86% | 15.21% | 2.19% | 2.50% | 14.21% | 30.56% | 0.50% | 0.60% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VCMDX vs. GSG - Drawdown Comparison
The maximum VCMDX drawdown since its inception was -26.67%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for VCMDX and GSG.
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Drawdown Indicators
| VCMDX | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.67% | -89.62% | +62.95% |
Max Drawdown (1Y)Largest decline over 1 year | -8.92% | -11.91% | +2.99% |
Max Drawdown (5Y)Largest decline over 5 years | -25.45% | -29.12% | +3.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -1.31% | -57.78% | +56.47% |
Average DrawdownAverage peak-to-trough decline | -11.10% | -63.77% | +52.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 4.27% | -1.34% |
Volatility
VCMDX vs. GSG - Volatility Comparison
The current volatility for Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) is 5.98%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 11.08%. This indicates that VCMDX 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
| VCMDX | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 11.08% | -5.10% |
Volatility (6M)Calculated over the trailing 6-month period | 12.19% | 16.24% | -4.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.62% | 21.16% | -5.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.81% | 21.97% | -6.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.40% | 21.78% | -6.38% |