XOCT vs. GSG

Last updated Jun 3, 2026

XOCT (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - XOCT is a Options Trading fund actively managed by FT Vest, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. XOCT is actively managed, while GSG is passively managed. Over the past year, XOCT returned 12.73% vs 51.52% for GSG. At a correlation of -0.01, they often move in opposite directions. XOCT charges 0.85%/yr vs 0.75%/yr for GSG.

Performance

XOCT vs. GSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October (XOCT) and iShares S&P GSCI Commodity-Indexed Trust (GSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XOCT achieves a 4.40% return, which is significantly lower than GSG's 42.58% return.

XOCT

• 1D: 0.04%
• 1M: 1.39%
• YTD: 4.40%
• 6M: 5.26%
• 1Y: 12.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GSG

• 1D: 0.77%
• 1M: -4.83%
• YTD: 42.58%
• 6M: 41.06%
• 1Y: 51.52%
• 3Y*: 19.31%
• 5Y*: 15.74%
• 10Y*: 7.69%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XOCT vs. GSG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XOCT FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October	4.40%	10.30%	7.00%	5.58%
GSG iShares S&P GSCI Commodity-Indexed Trust	42.58%	5.93%	8.52%	-9.31%

Correlation

The correlation between XOCT and GSG is -0.21, 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	-0.21
Correlation (All Time) Calculated using the full available price history since Oct 24, 2023	-0.01

Over the past year, the inverse relationship between XOCT and GSG has strengthened: their correlation has moved from -0.01 to -0.21, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

XOCT vs. GSG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XOCT

XOCT Risk / Return Rank: 83
XOCT Sharpe Ratio Rank: 81
XOCT Sortino Ratio Rank: 87
XOCT Omega Ratio Rank: 91
XOCT Calmar Ratio Rank: 70
XOCT Martin Ratio Rank: 87

GSG

GSG Risk / Return Rank: 71
GSG Sharpe Ratio Rank: 67
GSG Sortino Ratio Rank: 60
GSG Omega Ratio Rank: 65
GSG Calmar Ratio Rank: 89
GSG Martin Ratio Rank: 75

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.

XOCT vs. GSG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October (XOCT) 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.

	XOCT	GSG	Difference
Sharpe ratio Return per unit of total volatility	2.69	2.26	+0.43
Sortino ratio Return per unit of downside risk	4.02	2.88	+1.14
Omega ratio Gain probability vs. loss probability	1.60	1.40	+0.20
Calmar ratio Return relative to maximum drawdown	3.56	5.47	-1.91
Martin ratio Return relative to average drawdown	19.29	14.39	+4.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XOCT vs. GSG - Sharpe Ratio Comparison

The current XOCT Sharpe Ratio is 2.69, which is comparable to the GSG Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of XOCT 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.

Sharpe Ratios by Period

	XOCT	GSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	2.26	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.53	-0.09	+1.62

Drawdowns

XOCT vs. GSG - Drawdown Comparison

The maximum XOCT drawdown since its inception was -10.00%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for XOCT and GSG.

Drawdown Indicators

	XOCT	GSG	Difference
Max Drawdown Largest peak-to-trough decline	-10.00%	-89.62%	+79.62%
Max Drawdown (1Y) Largest decline over 1 year	-3.63%	-9.46%	+5.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-57.64%	—
Current Drawdown Current decline from peak	0.00%	-56.95%	+56.95%
Average Drawdown Average peak-to-trough decline	-0.52%	-63.71%	+63.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	3.59%	-2.92%

Volatility

XOCT vs. GSG - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - October (XOCT) is 0.63%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that XOCT 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.

Volatility by Period

	XOCT	GSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	7.65%	-7.02%
Volatility (6M) Calculated over the trailing 6-month period	3.89%	20.42%	-16.53%
Volatility (1Y) Calculated over the trailing 1-year period	4.76%	22.95%	-18.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.98%	22.61%	-15.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.98%	22.03%	-15.05%

XOCT vs. GSG - Expense Ratio Comparison

XOCT has a 0.85% expense ratio, which is higher than GSG's 0.75% expense ratio.

Dividends

XOCT vs. GSG - Dividend Comparison

Neither XOCT nor GSG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XOCT and GSG in my portfolio?

XOCT and GSG have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOCT or GSG?

GSG has higher volatility (7.65%) compared to XOCT (0.63%). In terms of maximum drawdown, XOCT dropped -10.00% vs GSG's -89.62%.

Which ETF is better, XOCT or GSG?

On 1-year performance, GSG leads with 51.52% vs 12.73% for XOCT. On fees, GSG is cheaper at 0.75% per year. On volatility, XOCT has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XOCT or GSG?

Over the 1-year period, GSG has performed better with a 51.52% return vs 12.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOCT or GSG?

GSG is cheaper with a 0.75% expense ratio, compared with 0.85% for XOCT.

Which ETF pays a higher dividend yield, XOCT or GSG?

XOCT and GSG have nearly identical dividend yields, around 0.00%.

What is the main difference between XOCT and GSG?

XOCT is categorized as Options Trading, while GSG is Commodities. They also come from different issuers: FT Vest and iShares. Their fees differ too: 0.85% for XOCT and 0.75% for GSG.

Which has better risk-adjusted returns?

XOCT currently has the higher Sharpe Ratio (2.69 vs 2.26), 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.