VNRT.AS vs. GSG
VNRT.AS (Vanguard FTSE North America UCITS ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - VNRT.AS is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, VNRT.AS returned 14.82%/yr vs 7.47%/yr for GSG. At a 0.24 correlation, their price movements are largely independent. VNRT.AS charges 0.10%/yr vs 0.75%/yr for GSG.
Performance
VNRT.AS vs. GSG - Performance Comparison
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Different Trading Currencies
VNRT.AS is traded in EUR, while GSG is traded in USD. To make them comparable, the GSG values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, VNRT.AS achieves a 11.28% return, which is significantly lower than GSG's 44.29% return. Over the past 10 years, VNRT.AS has outperformed GSG with an annualized return of 14.82%, while GSG has yielded a comparatively lower 7.47% annualized return.
VNRT.AS
- 1D
- -0.22%
- 1M
- 6.09%
- YTD
- 11.28%
- 6M
- 11.69%
- 1Y
- 25.46%
- 3Y*
- 19.30%
- 5Y*
- 14.36%
- 10Y*
- 14.82%
GSG
- 1D
- 0.98%
- 1M
- -4.15%
- YTD
- 44.29%
- 6M
- 41.83%
- 1Y
- 48.50%
- 3Y*
- 16.15%
- 5Y*
- 16.83%
- 10Y*
- 7.47%
VNRT.AS vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNRT.AS Vanguard FTSE North America UCITS ETF | 11.28% | 5.05% | 33.00% | 21.72% | -14.59% | 38.18% | 9.34% | 33.03% | -1.13% | 6.64% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 44.29% | -6.64% | 15.69% | -8.34% | 31.77% | 49.15% | -30.21% | 18.23% | -9.84% | -8.87% |
Correlation
The correlation between VNRT.AS and GSG is -0.00, 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 | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014 | 0.24 |
The correlation between VNRT.AS and GSG shifts across timeframes, from -0.00 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VNRT.AS vs. GSG — Risk / Return Rank
VNRT.AS
GSG
VNRT.AS vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE North America UCITS ETF (VNRT.AS) 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.
| VNRT.AS | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.35 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 4.37 | -0.81 |
| Martin ratioReturn relative to average drawdown | 12.73 | 11.00 | +1.73 |
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
| VNRT.AS | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.23 | 1.94 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 0.72 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | 0.33 | +0.52 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | -0.02 | +0.49 |
Drawdowns
VNRT.AS vs. GSG - Drawdown Comparison
The maximum VNRT.AS drawdown since its inception was -34.35%, smaller than the maximum GSG drawdown of -84.93%. Use the drawdown chart below to compare losses from any high point for VNRT.AS and GSG.
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Drawdown Indicators
| VNRT.AS | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.35% | -84.93% | +50.58% |
Max Drawdown (1Y)Largest decline over 1 year | -7.07% | -11.16% | +4.09% |
Max Drawdown (3Y)Largest decline over 3 years | -23.09% | -19.17% | -3.92% |
Max Drawdown (5Y)Largest decline over 5 years | -23.09% | -31.76% | +8.67% |
Max Drawdown (10Y)Largest decline over 10 years | -34.35% | -55.04% | +20.69% |
Current DrawdownCurrent decline from peak | -0.22% | -41.76% | +41.54% |
Average DrawdownAverage peak-to-trough decline | -5.94% | -58.02% | +52.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 4.42% | -2.44% |
Volatility
VNRT.AS vs. GSG - Volatility Comparison
The current volatility for Vanguard FTSE North America UCITS ETF (VNRT.AS) is 2.68%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 8.40%. This indicates that VNRT.AS 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
| VNRT.AS | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 8.40% | -5.72% |
Volatility (6M)Calculated over the trailing 6-month period | 7.63% | 21.88% | -14.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.38% | 25.18% | -13.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.13% | 23.53% | -8.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.27% | 22.93% | -5.66% |
VNRT.AS vs. GSG - Expense Ratio Comparison
VNRT.AS has a 0.10% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
VNRT.AS vs. GSG - Dividend Comparison
VNRT.AS's dividend yield for the trailing twelve months is around 0.87%, while GSG has not 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% |
VNRT.AS Vanguard FTSE North America UCITS ETF | 0.87% | 0.98% | 0.99% | 1.25% | 1.45% | 1.00% | 1.42% | 1.44% | 1.77% | 1.64% | 1.58% | 1.70% |
Frequently Asked Questions
VNRT.AS and GSG have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VNRT.AS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VNRT.AS is cheaper with a 0.10% expense ratio, compared with 0.75% for GSG.
VNRT.AS is categorized as Large Cap Blend Equities, while GSG is Commodities. VNRT.AS tracks Russell 1000 TR USD, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VNRT.AS and 0.75% for GSG.
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