DCMT vs. DJP
DCMT (DoubleLine Commodity Strategy ETF) and DJP (iPath Bloomberg Commodity Index Total Return ETN) are both Commodities funds. DCMT is actively managed, while DJP is passively managed. Over the past year, DCMT returned 30.61% vs 40.97% for DJP. Their correlation of 0.88 means they have usually moved in the same direction. DCMT charges 0.66%/yr vs 0.70%/yr for DJP.
Performance
DCMT vs. DJP - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with DCMT having a 26.14% return and DJP slightly lower at 25.98%.
DCMT
- 1D
- -1.24%
- 1M
- 7.21%
- 6M
- 20.26%
- YTD
- 26.14%
- 1Y
- 30.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.94%
DJP
- 1D
- 0.02%
- 1M
- 8.69%
- 6M
- 18.33%
- YTD
- 25.98%
- 1Y
- 40.97%
- 3Y*
- 13.27%
- 5Y*
- 11.22%
- 10Y*
- 7.63%
- ALL TIME*
- -0.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $312.97K | $269.09K | $196.68K | |
| $1.78M | $2.43M | $3.70M |
DCMT vs. DJP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DCMT DoubleLine Commodity Strategy ETF | 26.14% | 6.04% | 3.65% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 25.98% | 17.20% | 5.18% |
Correlation
The correlation between DCMT and DJP is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024 | 0.88 |
The correlation between DCMT and DJP has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.
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Return for Risk
DCMT vs. DJP — Risk / Return Rank
DCMT
DJP
DCMT vs. DJP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Commodity Strategy ETF (DCMT) and iPath Bloomberg Commodity Index Total Return ETN (DJP). 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.
| DCMT | DJP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.36 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 2.47 | -0.54 |
| Martin ratioReturn relative to average drawdown | 6.43 | 7.89 | -1.46 |
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Drawdowns
DCMT vs. DJP - Drawdown Comparison
The maximum DCMT drawdown since its inception was -15.96%, smaller than the maximum DJP drawdown of -78.35%. Use the drawdown chart below to compare losses from any high point for DCMT and DJP.
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Drawdown Indicators
| DCMT | DJP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.96% | -78.35% | +62.39% |
Max Drawdown (1Y)Largest decline over 1 year | -15.96% | -16.42% | +0.46% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.42% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.36% | — |
Current DrawdownCurrent decline from peak | -9.46% | -35.21% | +25.75% |
Average DrawdownAverage peak-to-trough decline | -3.62% | -50.74% | +47.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.78% | 5.13% | -0.35% |
Volatility
DCMT vs. DJP - Volatility Comparison
DoubleLine Commodity Strategy ETF (DCMT) and iPath Bloomberg Commodity Index Total Return ETN (DJP) have volatilities of 5.66% and 5.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DCMT | DJP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.66% | 5.94% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 17.01% | 17.00% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.04% | 19.73% | -0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.05% | 19.02% | -2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.05% | 17.09% | -1.04% |
DCMT vs. DJP - Expense Ratio Comparison
DCMT has a 0.66% expense ratio, which is lower than DJP's 0.70% expense ratio.
Dividends
DCMT vs. DJP - Dividend Comparison
DCMT's dividend yield for the trailing twelve months is around 2.91%, while DJP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
DCMT DoubleLine Commodity Strategy ETF | 2.91% | 3.67% | 1.59% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.90, DCMT and DJP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
DJP has higher volatility (5.94%) compared to DCMT (5.66%). In terms of maximum drawdown, DCMT dropped -15.96% vs DJP's -78.35%.
On 1-year performance, DJP leads with 40.97% vs 30.61% for DCMT. On fees, DCMT is cheaper at 0.66% per year. On volatility, DCMT has been the lower-risk option at 5.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DJP has performed better with a 40.97% return vs 30.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DCMT is cheaper with a 0.66% expense ratio, compared with 0.70% for DJP.
DCMT has the higher dividend yield at 2.91%, compared with 0.00% for DJP.
They also come from different issuers: DoubleLine and Barclays Bank PLC. Their fees differ too: 0.66% for DCMT and 0.70% for DJP.
DJP currently has the higher Sharpe Ratio (2.06 vs 1.62), 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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