DCMT vs. EMB
DCMT (DoubleLine Commodity Strategy ETF) and EMB (iShares J.P. Morgan USD Emerging Markets Bond ETF) are both exchange-traded funds - DCMT is a Commodities fund actively managed by DoubleLine, while EMB is a Emerging Markets Bonds fund tracking the J.P. Morgan EMBI Global Core Index. DCMT is actively managed, while EMB is passively managed. Over the past year, DCMT returned 30.61% vs 7.53% for EMB. Their -0.13 correlation means they have often moved in opposite directions in the past. DCMT charges 0.66%/yr vs 0.39%/yr for EMB.
Performance
DCMT vs. EMB - Performance Comparison
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Returns By Period
In the year-to-date period, DCMT achieves a 26.14% return, which is significantly higher than EMB's 1.44% return.
DCMT
- 1D
- -1.24%
- 1M
- 7.21%
- 6M
- 20.26%
- YTD
- 26.14%
- 1Y
- 30.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.94%
EMB
- 1D
- 0.53%
- 1M
- -1.08%
- 6M
- 1.15%
- YTD
- 1.44%
- 1Y
- 7.53%
- 3Y*
- 8.73%
- 5Y*
- 1.55%
- 10Y*
- 2.84%
- ALL TIME*
- 4.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $312.97K | $269.09K | $196.68K | |
| $587.25M | $554.34M | $591.84M |
DCMT vs. EMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DCMT DoubleLine Commodity Strategy ETF | 26.14% | 6.04% | 3.65% |
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 1.44% | 13.85% | 6.83% |
Correlation
The correlation between DCMT and EMB is -0.37, 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. | -0.37 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024 | -0.13 |
Over the past year, the inverse relationship between DCMT and EMB has strengthened: their correlation has moved from -0.13 to -0.37, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
DCMT vs. EMB — Risk / Return Rank
DCMT
EMB
DCMT vs. EMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Commodity Strategy ETF (DCMT) and iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB). 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 | EMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.25 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 1.68 | +0.25 |
| Martin ratioReturn relative to average drawdown | 6.43 | 6.82 | -0.39 |
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Drawdowns
DCMT vs. EMB - Drawdown Comparison
The maximum DCMT drawdown since its inception was -15.96%, smaller than the maximum EMB drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for DCMT and EMB.
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Drawdown Indicators
| DCMT | EMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.96% | -34.70% | +18.74% |
Max Drawdown (1Y)Largest decline over 1 year | -15.96% | -4.51% | -11.45% |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.91% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.74% | — |
Current DrawdownCurrent decline from peak | -9.46% | -1.30% | -8.16% |
Average DrawdownAverage peak-to-trough decline | -3.62% | -5.02% | +1.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.78% | 1.11% | +3.67% |
Volatility
DCMT vs. EMB - Volatility Comparison
DoubleLine Commodity Strategy ETF (DCMT) has a higher volatility of 5.66% compared to iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) at 1.51%. This indicates that DCMT's price experiences larger fluctuations and is considered to be riskier than EMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DCMT | EMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.66% | 1.51% | +4.15% |
Volatility (6M)Calculated over the trailing 6-month period | 17.01% | 4.80% | +12.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.04% | 5.70% | +13.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.05% | 9.77% | +6.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.05% | 9.95% | +6.10% |
DCMT vs. EMB - Expense Ratio Comparison
DCMT has a 0.66% expense ratio, which is higher than EMB's 0.39% expense ratio.
Dividends
DCMT vs. EMB - Dividend Comparison
DCMT's dividend yield for the trailing twelve months is around 2.91%, less than EMB's 5.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DCMT DoubleLine Commodity Strategy ETF | 2.91% | 3.67% | 1.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 5.14% | 4.98% | 5.46% | 4.74% | 5.04% | 3.89% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% |
Frequently Asked Questions
DCMT and EMB have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DCMT has higher volatility (5.66%) compared to EMB (1.51%). In terms of maximum drawdown, DCMT dropped -15.96% vs EMB's -34.70%.
On 1-year performance, DCMT leads with 30.61% vs 7.53% for EMB. On fees, EMB is cheaper at 0.39% per year. On volatility, EMB has been the lower-risk option at 1.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DCMT has performed better with a 30.61% return vs 7.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMB is cheaper with a 0.39% expense ratio, compared with 0.66% for DCMT.
EMB has the higher dividend yield at 5.14%, compared with 2.91% for DCMT.
DCMT is categorized as Commodities, while EMB is Emerging Markets Bonds. They also come from different issuers: DoubleLine and iShares. Their fees differ too: 0.66% for DCMT and 0.39% for EMB.
DCMT currently has the higher Sharpe Ratio (1.62 vs 1.33), 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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