BCI vs. ITWO

Last updated Jun 23, 2026

BCI (abrdn Bloomberg All Commodity Strategy K-1 Free ETF) and ITWO (Proshares Russell 2000 High Income ETF) are both exchange-traded funds - BCI is a Commodities fund tracking the Bloomberg Commodity Index Total Return, while ITWO is a Derivative Income fund tracking the Cboe Russell 2000 Daily Covered Call Index. Both are passively managed. Over the past year, BCI returned 22.05% vs 43.64% for ITWO. At a 0.02 correlation, their price movements are largely independent. BCI charges 0.26%/yr vs 0.55%/yr for ITWO.

Performance

BCI vs. ITWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) and Proshares Russell 2000 High Income ETF (ITWO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCI achieves a 16.69% return, which is significantly lower than ITWO's 22.52% return.

BCI

• 1D: -0.65%
• 1M: -8.66%
• YTD: 16.69%
• 6M: 16.52%
• 1Y: 22.05%
• 3Y*: 11.86%
• 5Y*: 9.82%
• 10Y*: —

ITWO

• 1D: 0.93%
• 1M: 5.32%
• YTD: 22.52%
• 6M: 18.96%
• 1Y: 43.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BCI vs. ITWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	16.69%	15.07%	6.13%
ITWO Proshares Russell 2000 High Income ETF	22.52%	14.25%	3.10%

Correlation

The correlation between BCI and ITWO is -0.06, 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	-0.06
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.02

Return for Risk

BCI vs. ITWO — Risk / Return Rank

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

BCI

BCI Risk / Return Rank: 38
BCI Sharpe Ratio Rank: 37
BCI Sortino Ratio Rank: 34
BCI Omega Ratio Rank: 37
BCI Calmar Ratio Rank: 38
BCI Martin Ratio Rank: 43

ITWO

ITWO Risk / Return Rank: 74
ITWO Sharpe Ratio Rank: 74
ITWO Sortino Ratio Rank: 69
ITWO Omega Ratio Rank: 61
ITWO Calmar Ratio Rank: 85
ITWO Martin Ratio Rank: 79

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.

BCI vs. ITWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) and Proshares Russell 2000 High Income ETF (ITWO). 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.

	BCI	ITWO	Difference
Sharpe ratio: Return per unit of total volatility	1.29	2.29	-0.99
Sortino ratio: Return per unit of downside risk	1.76	3.03	-1.26
Omega ratio: Gain probability vs. loss probability	1.24	1.36	-0.13
Calmar ratio: Return relative to maximum drawdown	1.84	4.48	-2.64
Martin ratio: Return relative to average drawdown	6.82	15.02	-8.20

BCI vs. ITWO - Sharpe Ratio Comparison

The current BCI Sharpe Ratio is 1.29, which is lower than the ITWO Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of BCI and ITWO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BCI vs. ITWO - Drawdown Comparison

The maximum BCI drawdown since its inception was -32.69%, which is greater than ITWO's maximum drawdown of -24.77%. Use the drawdown chart below to compare losses from any high point for BCI and ITWO.

Drawdown Indicators

	BCI	ITWO	Difference
Max Drawdown Largest peak-to-trough decline	-32.69%	-24.77%	-7.92%
Max Drawdown (1Y) Largest decline over 1 year	-12.04%	-9.79%	-2.25%
Max Drawdown (3Y) Largest decline over 3 years	-12.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.50%	—	—
Current Drawdown Current decline from peak	-12.04%	0.00%	-12.04%
Average Drawdown Average peak-to-trough decline	-11.98%	-5.04%	-6.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	2.91%	+0.65%

Volatility

BCI vs. ITWO - Volatility Comparison

The current volatility for abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) is 3.49%, while Proshares Russell 2000 High Income ETF (ITWO) has a volatility of 6.61%. This indicates that BCI experiences smaller price fluctuations and is considered to be less risky than ITWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCI	ITWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	6.61%	-3.12%
Volatility (6M) Calculated over the trailing 6-month period	14.94%	14.07%	+0.87%
Volatility (1Y) Calculated over the trailing 1-year period	17.18%	19.23%	-2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.79%	20.65%	-3.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.65%	20.65%	-5.00%

BCI vs. ITWO - Expense Ratio Comparison

BCI has a 0.26% expense ratio, which is lower than ITWO's 0.55% expense ratio.

Dividends

BCI vs. ITWO - Dividend Comparison

BCI's dividend yield for the trailing twelve months is around 14.13%, more than ITWO's 7.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	14.13%	16.49%	3.29%	3.93%	19.98%	19.43%	0.68%	1.47%	1.13%	5.02%
ITWO Proshares Russell 2000 High Income ETF	7.27%	12.12%	4.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BCI and ITWO in my portfolio?

BCI and ITWO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCI or ITWO?

ITWO has higher volatility (6.61%) compared to BCI (3.49%). In terms of maximum drawdown, BCI dropped -32.69% vs ITWO's -24.77%.

Which ETF is better, BCI or ITWO?

On 1-year performance, ITWO leads with 43.64% vs 22.05% for BCI. On fees, BCI is cheaper at 0.26% per year. On volatility, BCI has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BCI or ITWO?

Over the 1-year period, ITWO has performed better with a 43.64% return vs 22.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BCI or ITWO?

BCI is cheaper with a 0.26% expense ratio, compared with 0.55% for ITWO.

Which ETF pays a higher dividend yield, BCI or ITWO?

BCI has the higher dividend yield at 14.13%, compared with 7.27% for ITWO.

What is the main difference between BCI and ITWO?

BCI is categorized as Commodities, while ITWO is Derivative Income. BCI tracks Bloomberg Commodity Index Total Return, while ITWO tracks Cboe Russell 2000 Daily Covered Call Index. They also come from different issuers: Aberdeen and ProShares. Their fees differ too: 0.26% for BCI and 0.55% for ITWO.

Which has better risk-adjusted returns?

ITWO currently has the higher Sharpe Ratio (2.29 vs 1.29), 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.