APOC vs. ISCMF
APOC (Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - APOC is a Defined Outcome fund actively managed by Innovator, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. APOC is actively managed, while ISCMF is passively managed. Over the past year, APOC returned 2.86% vs 21.66% for ISCMF. Their -0.04 correlation means they have often moved in opposite directions in the past. APOC charges 0.79%/yr vs 0.19%/yr for ISCMF.
Performance
APOC vs. ISCMF - Performance Comparison
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Returns By Period
In the year-to-date period, APOC achieves a 0.71% return, which is significantly lower than ISCMF's 11.96% return.
APOC
- 1D
- -0.02%
- 1M
- 0.34%
- 6M
- 0.11%
- YTD
- 0.71%
- 1Y
- 2.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.52%
ISCMF
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.00%
- YTD
- 11.96%
- 1Y
- 21.66%
- 3Y*
- 10.24%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $182.05K | $206.72K | $353.13K | |
| $0.00 | $8.28K | $54.64K |
APOC vs. ISCMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
APOC Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct | 0.71% | 2.90% | 1.01% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 11.96% | 19.65% | -1.74% |
Correlation
The correlation between APOC and ISCMF is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.13 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024 | -0.04 |
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Return for Risk
APOC vs. ISCMF — Risk / Return Rank
APOC
ISCMF
APOC vs. ISCMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct (APOC) and iShares Diversified Commodity Swap UCITS ETF (ISCMF). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| APOC | ISCMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.81 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 1.59 | -0.75 |
| Martin ratioReturn relative to average drawdown | 3.51 | 4.71 | -1.20 |
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Drawdowns
APOC vs. ISCMF - Drawdown Comparison
The maximum APOC drawdown since its inception was -4.17%, smaller than the maximum ISCMF drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for APOC and ISCMF.
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Drawdown Indicators
| APOC | ISCMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.17% | -25.42% | +21.25% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -13.68% | +10.28% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.68% | — |
Current DrawdownCurrent decline from peak | -0.19% | -13.68% | +13.49% |
Average DrawdownAverage peak-to-trough decline | -0.81% | -13.31% | +12.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 4.61% | -3.79% |
Volatility
APOC vs. ISCMF - Volatility Comparison
Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct (APOC) has a higher volatility of 0.34% compared to iShares Diversified Commodity Swap UCITS ETF (ISCMF) at 0.00%. This indicates that APOC's price experiences larger fluctuations and is considered to be riskier than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APOC | ISCMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | 0.00% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 2.36% | 17.04% | -14.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.66% | 19.61% | -16.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.91% | 14.74% | -11.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.91% | 14.74% | -11.83% |
APOC vs. ISCMF - Expense Ratio Comparison
APOC has a 0.79% expense ratio, which is higher than ISCMF's 0.19% expense ratio.
Dividends
APOC vs. ISCMF - Dividend Comparison
Neither APOC nor ISCMF has paid dividends to shareholders.
Frequently Asked Questions
APOC and ISCMF have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APOC has higher volatility (0.34%) compared to ISCMF (0.00%). In terms of maximum drawdown, APOC dropped -4.17% vs ISCMF's -25.42%.
On 1-year performance, ISCMF leads with 21.66% vs 2.86% for APOC. On fees, ISCMF is cheaper at 0.19% per year. On volatility, ISCMF has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ISCMF has performed better with a 21.66% return vs 2.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISCMF is cheaper with a 0.19% expense ratio, compared with 0.79% for APOC.
APOC and ISCMF have nearly identical dividend yields, around 0.00%.
APOC is categorized as Defined Outcome, while ISCMF is Commodities. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for APOC and 0.19% for ISCMF.
ISCMF currently has the higher Sharpe Ratio (1.11 vs 1.08), 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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