DCMT vs. CMDY

Last updated Jun 3, 2026

DCMT (DoubleLine Commodity Strategy ETF) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both Commodities funds. DCMT is actively managed, while CMDY is passively managed. Over the past year, DCMT returned 41.60% vs 37.25% for CMDY. Their correlation of 0.88 suggests significant overlap in exposure. DCMT charges 0.66%/yr vs 0.28%/yr for CMDY.

Performance

DCMT vs. CMDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Commodity Strategy ETF (DCMT) and iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DCMT achieves a 33.65% return, which is significantly higher than CMDY's 25.42% return.

DCMT

• 1D: 0.40%
• 1M: -1.68%
• YTD: 33.65%
• 6M: 33.01%
• 1Y: 41.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CMDY

• 1D: 0.41%
• 1M: -1.37%
• YTD: 25.42%
• 6M: 25.12%
• 1Y: 37.25%
• 3Y*: 15.48%
• 5Y*: 10.95%
• 10Y*: —

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

DCMT vs. CMDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DCMT DoubleLine Commodity Strategy ETF	33.65%	6.04%	4.96%
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	25.42%	15.81%	6.74%

Correlation

The correlation between DCMT and CMDY is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Feb 2, 2024	0.88

The correlation between DCMT and CMDY has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

DCMT vs. CMDY — Risk / Return Rank

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

DCMT

DCMT Risk / Return Rank: 74
DCMT Sharpe Ratio Rank: 68
DCMT Sortino Ratio Rank: 63
DCMT Omega Ratio Rank: 66
DCMT Calmar Ratio Rank: 93
DCMT Martin Ratio Rank: 82

CMDY

CMDY Risk / Return Rank: 74
CMDY Sharpe Ratio Rank: 70
CMDY Sortino Ratio Rank: 62
CMDY Omega Ratio Rank: 69
CMDY Calmar Ratio Rank: 88
CMDY 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.

DCMT vs. CMDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Commodity Strategy ETF (DCMT) and iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY). 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.

	DCMT	CMDY	Difference
Sharpe ratio Return per unit of total volatility	2.29	2.33	-0.04
Sortino ratio Return per unit of downside risk	2.98	2.94	+0.04
Omega ratio Gain probability vs. loss probability	1.41	1.42	-0.02
Calmar ratio Return relative to maximum drawdown	7.02	5.20	+1.83
Martin ratio Return relative to average drawdown	16.86	15.73	+1.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DCMT vs. CMDY - Sharpe Ratio Comparison

The current DCMT Sharpe Ratio is 2.29, which is comparable to the CMDY Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of DCMT and CMDY, 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

	DCMT	CMDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	2.33	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	0.56	+0.63

Drawdowns

DCMT vs. CMDY - Drawdown Comparison

The maximum DCMT drawdown since its inception was -11.95%, smaller than the maximum CMDY drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for DCMT and CMDY.

Drawdown Indicators

	DCMT	CMDY	Difference
Max Drawdown Largest peak-to-trough decline	-11.95%	-31.19%	+19.24%
Max Drawdown (1Y) Largest decline over 1 year	-6.21%	-7.73%	+1.52%
Max Drawdown (3Y) Largest decline over 3 years	—	-10.08%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.56%	—
Current Drawdown Current decline from peak	-4.07%	-3.99%	-0.08%
Average Drawdown Average peak-to-trough decline	-3.13%	-13.15%	+10.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.55%	+0.03%

Volatility

DCMT vs. CMDY - Volatility Comparison

DoubleLine Commodity Strategy ETF (DCMT) has a higher volatility of 6.96% compared to iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) at 5.21%. This indicates that DCMT's price experiences larger fluctuations and is considered to be riskier than CMDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DCMT	CMDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	5.21%	+1.75%
Volatility (6M) Calculated over the trailing 6-month period	15.86%	14.20%	+1.66%
Volatility (1Y) Calculated over the trailing 1-year period	18.31%	16.18%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.78%	15.81%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.78%	14.64%	+1.14%

DCMT vs. CMDY - Expense Ratio Comparison

DCMT has a 0.66% expense ratio, which is higher than CMDY's 0.28% expense ratio.

Dividends

DCMT vs. CMDY - Dividend Comparison

DCMT's dividend yield for the trailing twelve months is around 2.75%, less than CMDY's 10.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	10.28%	12.89%	4.23%	5.10%	3.98%	16.09%	0.15%	2.21%	1.73%
DCMT DoubleLine Commodity Strategy ETF	2.75%	3.67%	1.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DCMT and CMDY in my portfolio?

DCMT and CMDY have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DCMT or CMDY?

DCMT has higher volatility (6.96%) compared to CMDY (5.21%). In terms of maximum drawdown, DCMT dropped -11.95% vs CMDY's -31.19%.

Which ETF is better, DCMT or CMDY?

On 1-year performance, DCMT leads with 41.60% vs 37.25% for CMDY. On fees, CMDY is cheaper at 0.28% per year. On volatility, CMDY has been the lower-risk option at 5.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DCMT or CMDY?

Over the 1-year period, DCMT has performed better with a 41.60% return vs 37.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DCMT or CMDY?

CMDY is cheaper with a 0.28% expense ratio, compared with 0.66% for DCMT.

Which ETF pays a higher dividend yield, DCMT or CMDY?

CMDY has the higher dividend yield at 10.28%, compared with 2.75% for DCMT.

What is the main difference between DCMT and CMDY?

They also come from different issuers: DoubleLine and iShares. Their fees differ too: 0.66% for DCMT and 0.28% for CMDY.

Which has better risk-adjusted returns?

CMDY currently has the higher Sharpe Ratio (2.33 vs 2.29), 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.