CCRV vs. USCI

Last updated Jun 23, 2026

CCRV (iShares Commodity Curve Carry Strategy ETF) and USCI (United States Commodity Index Fund) are both Commodities funds - CCRV tracks the CCRV-US - ICE BofA Commodity Enhanced Carry Index while USCI tracks the SummerHaven Dynamic Commodity (TR). Both are passively managed. A 0.75 correlation means they provide meaningful diversification when combined. CCRV charges 0.40%/yr vs 1.03%/yr for USCI.

Performance

CCRV vs. USCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Commodity Curve Carry Strategy ETF (CCRV) and United States Commodity Index Fund (USCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CCRV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USCI

• 1D: -0.19%
• 1M: -6.88%
• YTD: 19.44%
• 6M: 17.65%
• 1Y: 22.37%
• 3Y*: 19.76%
• 5Y*: 18.47%
• 10Y*: 8.20%

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

CCRV vs. USCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	5.47%	19.91%	33.78%	7.16%
USCI United States Commodity Index Fund	19.44%	17.63%	17.24%	-0.00%	29.47%	33.07%	6.13%

Correlation

The correlation between CCRV and USCI is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Sep 3, 2020	0.75

Over the past year, the correlation between CCRV and USCI has dropped to 0.20 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

CCRV vs. USCI — Risk / Return Rank

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

CCRV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

USCI

USCI Risk / Return Rank: 41
USCI Sharpe Ratio Rank: 39
USCI Sortino Ratio Rank: 36
USCI Omega Ratio Rank: 36
USCI Calmar Ratio Rank: 48
USCI Martin Ratio Rank: 48

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.

CCRV vs. USCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Commodity Curve Carry Strategy ETF (CCRV) and United States Commodity Index Fund (USCI). 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.

	CCRV	USCI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.34	—
Sortino ratio: Return per unit of downside risk	—	1.85	—
Omega ratio: Gain probability vs. loss probability	—	1.23	—
Calmar ratio: Return relative to maximum drawdown	—	2.31	—
Martin ratio: Return relative to average drawdown	—	7.89	—

Drawdowns

Drawdown Indicators

	CCRV	USCI	Difference
Max Drawdown Largest peak-to-trough decline	—	-66.41%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-9.73%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.82%	—
Current Drawdown Current decline from peak	—	-9.73%	—
Average Drawdown Average peak-to-trough decline	—	-29.44%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.92%	—

Volatility

Volatility by Period

	CCRV	USCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.04%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	16.76%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	18.35%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	15.86%	—

CCRV vs. USCI - Expense Ratio Comparison

CCRV has a 0.40% expense ratio, which is lower than USCI's 1.03% expense ratio.

Dividends

CCRV vs. USCI - Dividend Comparison

Neither CCRV nor USCI has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%
USCI United States Commodity Index Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CCRV and USCI in my portfolio?

CCRV and USCI have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CCRV or USCI?

On fees, CCRV is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CCRV or USCI?

CCRV is cheaper with a 0.40% expense ratio, compared with 1.03% for USCI.

Which ETF pays a higher dividend yield, CCRV or USCI?

CCRV and USCI have nearly identical dividend yields, around 0.00%.

What is the main difference between CCRV and USCI?

CCRV tracks CCRV-US - ICE BofA Commodity Enhanced Carry Index, while USCI tracks SummerHaven Dynamic Commodity (TR). They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.40% for CCRV and 1.03% for USCI.