WOMN vs. GSG
WOMN (Impact Shares YWCA Women’s Empowerment ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - WOMN is a Large Cap Growth Equities fund tracking the Morningstar Women’s Empowerment Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 5 years, WOMN returned 8.80%/yr vs 15.39%/yr for GSG. At a 0.21 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
WOMN vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, WOMN achieves a 4.89% return, which is significantly lower than GSG's 40.46% return.
WOMN
- 1D
- 0.93%
- 1M
- 3.04%
- YTD
- 4.89%
- 6M
- 5.52%
- 1Y
- 12.46%
- 3Y*
- 15.17%
- 5Y*
- 8.80%
- 10Y*
- —
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%
WOMN vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
WOMN Impact Shares YWCA Women’s Empowerment ETF | 4.89% | 8.62% | 16.95% | 28.19% | -20.61% | 24.89% | 34.16% | 32.50% | -11.94% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 40.46% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -18.63% |
Correlation
The correlation between WOMN and GSG is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2018 | 0.21 |
The correlation between WOMN and GSG shifts across timeframes, from -0.19 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WOMN vs. GSG — Risk / Return Rank
WOMN
GSG
WOMN vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Impact Shares YWCA Women’s Empowerment ETF (WOMN) 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.
| WOMN | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.39 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 5.28 | -3.67 |
| Martin ratioReturn relative to average drawdown | 5.90 | 13.78 | -7.88 |
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
| WOMN | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 2.17 | -1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.68 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | -0.09 | +0.81 |
Drawdowns
WOMN vs. GSG - Drawdown Comparison
The maximum WOMN drawdown since its inception was -32.23%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for WOMN and GSG.
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Drawdown Indicators
| WOMN | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.23% | -89.62% | +57.39% |
Max Drawdown (1Y)Largest decline over 1 year | -7.80% | -9.46% | +1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -17.34% | -14.94% | -2.40% |
Max Drawdown (5Y)Largest decline over 5 years | -25.80% | -29.12% | +3.32% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -0.01% | -57.59% | +57.58% |
Average DrawdownAverage peak-to-trough decline | -5.53% | -63.71% | +58.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 3.62% | -1.50% |
Volatility
WOMN vs. GSG - Volatility Comparison
The current volatility for Impact Shares YWCA Women’s Empowerment ETF (WOMN) is 2.76%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.72%. This indicates that WOMN 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
| WOMN | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.76% | 7.72% | -4.96% |
Volatility (6M)Calculated over the trailing 6-month period | 7.78% | 20.48% | -12.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.84% | 23.01% | -12.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.16% | 22.61% | -6.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.70% | 22.03% | -3.33% |
WOMN vs. GSG - Expense Ratio Comparison
Both WOMN and GSG have an expense ratio of 0.75%.
Dividends
WOMN vs. GSG - Dividend Comparison
WOMN's dividend yield for the trailing twelve months is around 0.78%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
WOMN Impact Shares YWCA Women’s Empowerment ETF | 0.78% | 0.76% | 1.08% | 1.80% | 5.59% | 3.10% | 6.15% | 1.12% | 0.90% |
Frequently Asked Questions
WOMN and GSG have a correlation of -0.19, 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 WOMN (2.76%). In terms of maximum drawdown, WOMN dropped -32.23% vs GSG's -89.62%.
On 5-year performance, GSG leads with 15.39% vs 8.80% for WOMN. Both ETFs have the same 0.75% expense ratio. On volatility, WOMN has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GSG has performed better with a 15.39% return vs 8.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WOMN and GSG have the same expense ratio: 0.75% per year.
WOMN has the higher dividend yield at 0.78%, compared with 0.00% for GSG.
WOMN is categorized as Large Cap Growth Equities, while GSG is Commodities. WOMN tracks Morningstar Women’s Empowerment Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Impact Shares and iShares.
GSG currently has the higher Sharpe Ratio (2.17 vs 1.15), 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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