ZTRE vs. GSG
ZTRE (F/M 3-Year Investment Grade Corporate Bond ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - ZTRE is a Short-Term Bond fund tracking the ICE 3-Year US Target Maturity Corporate Index - Benchmark TR Gross, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past year, ZTRE returned 4.21% vs 51.52% for GSG. At a correlation of -0.27, they often move in opposite directions. ZTRE charges 0.15%/yr vs 0.75%/yr for GSG.
Performance
ZTRE vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, ZTRE achieves a 0.47% return, which is significantly lower than GSG's 42.58% return.
ZTRE
- 1D
- -0.10%
- 1M
- 0.22%
- YTD
- 0.47%
- 6M
- 0.89%
- 1Y
- 4.21%
- 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%
ZTRE vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF | 0.47% | 6.60% | 0.38% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 42.58% | 5.93% | 2.98% |
Correlation
The correlation between ZTRE and GSG is -0.37, 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 | -0.37 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024 | -0.27 |
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Return for Risk
ZTRE vs. GSG — Risk / Return Rank
ZTRE
GSG
ZTRE vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) 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.
| ZTRE | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.40 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 5.47 | -2.56 |
| Martin ratioReturn relative to average drawdown | 11.83 | 14.39 | -2.57 |
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
| ZTRE | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 2.26 | -0.01 |
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 | 2.46 | -0.09 | +2.54 |
Drawdowns
ZTRE vs. GSG - Drawdown Comparison
The maximum ZTRE drawdown since its inception was -1.45%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for ZTRE and GSG.
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Drawdown Indicators
| ZTRE | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.45% | -89.62% | +88.17% |
Max Drawdown (1Y)Largest decline over 1 year | -1.45% | -9.46% | +8.01% |
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 DrawdownCurrent decline from peak | -0.34% | -56.95% | +56.61% |
Average DrawdownAverage peak-to-trough decline | -0.20% | -63.71% | +63.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 3.59% | -3.23% |
Volatility
ZTRE vs. GSG - Volatility Comparison
The current volatility for F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) is 0.62%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.65%. This indicates that ZTRE 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
| ZTRE | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 7.65% | -7.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.41% | 20.42% | -19.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.89% | 22.95% | -21.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.10% | 22.61% | -20.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.10% | 22.03% | -19.93% |
ZTRE vs. GSG - Expense Ratio Comparison
ZTRE has a 0.15% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
ZTRE vs. GSG - Dividend Comparison
ZTRE's dividend yield for the trailing twelve months is around 4.22%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% |
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF | 4.22% | 4.37% | 0.39% |
Frequently Asked Questions
ZTRE and GSG have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (7.65%) compared to ZTRE (0.62%). In terms of maximum drawdown, ZTRE dropped -1.45% vs GSG's -89.62%.
On 1-year performance, GSG leads with 51.52% vs 4.21% for ZTRE. On fees, ZTRE is cheaper at 0.15% per year. On volatility, ZTRE has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GSG has performed better with a 51.52% return vs 4.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZTRE is cheaper with a 0.15% expense ratio, compared with 0.75% for GSG.
ZTRE has the higher dividend yield at 4.22%, compared with 0.00% for GSG.
ZTRE is categorized as Short-Term Bond, while GSG is Commodities. ZTRE tracks ICE 3-Year US Target Maturity Corporate Index - Benchmark TR Gross, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: F/m and iShares. Their fees differ too: 0.15% for ZTRE and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (2.26 vs 2.24), 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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