DCMT vs. RLY
DCMT (DoubleLine Commodity Strategy ETF) and RLY (State Street Multi-Asset Real Return ETF) are both exchange-traded funds - DCMT is a Commodities fund actively managed by DoubleLine, while RLY is a Global Allocation fund tracking the Bloomberg U.S. Government Inflation-Linked Bond Index. DCMT is actively managed, while RLY is passively managed. Over the past year, DCMT returned 30.61% vs 27.11% for RLY. Their 0.58 correlation means they have sometimes moved together and sometimes differently. DCMT charges 0.66%/yr vs 0.50%/yr for RLY.
Performance
DCMT vs. RLY - 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 RLY's 15.29% return.
DCMT
- 1D
- -1.24%
- 1M
- 7.21%
- 6M
- 20.26%
- YTD
- 26.14%
- 1Y
- 30.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.94%
RLY
- 1D
- -0.42%
- 1M
- 3.64%
- 6M
- 8.40%
- YTD
- 15.29%
- 1Y
- 27.11%
- 3Y*
- 12.93%
- 5Y*
- 10.64%
- 10Y*
- 8.16%
- ALL TIME*
- 4.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $312.97K | $269.09K | $196.68K | |
| $5.13M | $7.99M | $7.88M |
DCMT vs. RLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DCMT DoubleLine Commodity Strategy ETF | 26.14% | 6.04% | 3.65% |
RLY State Street Multi-Asset Real Return ETF | 15.29% | 20.26% | 5.28% |
Correlation
The correlation between DCMT and RLY is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024 | 0.58 |
The correlation between DCMT and RLY has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.
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Return for Risk
DCMT vs. RLY — Risk / Return Rank
DCMT
RLY
DCMT vs. RLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Commodity Strategy ETF (DCMT) and State Street Multi-Asset Real Return ETF (RLY). 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 | RLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.47 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 3.61 | -1.68 |
| Martin ratioReturn relative to average drawdown | 6.43 | 12.56 | -6.13 |
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Drawdowns
DCMT vs. RLY - Drawdown Comparison
The maximum DCMT drawdown since its inception was -15.96%, smaller than the maximum RLY drawdown of -37.75%. Use the drawdown chart below to compare losses from any high point for DCMT and RLY.
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Drawdown Indicators
| DCMT | RLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.96% | -37.75% | +21.79% |
Max Drawdown (1Y)Largest decline over 1 year | -15.96% | -7.54% | -8.42% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.08% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.94% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.17% | — |
Current DrawdownCurrent decline from peak | -9.46% | -3.15% | -6.31% |
Average DrawdownAverage peak-to-trough decline | -3.62% | -9.40% | +5.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.78% | 2.16% | +2.62% |
Volatility
DCMT vs. RLY - Volatility Comparison
DoubleLine Commodity Strategy ETF (DCMT) has a higher volatility of 5.66% compared to State Street Multi-Asset Real Return ETF (RLY) at 2.61%. This indicates that DCMT's price experiences larger fluctuations and is considered to be riskier than RLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DCMT | RLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.66% | 2.61% | +3.05% |
Volatility (6M)Calculated over the trailing 6-month period | 17.01% | 8.06% | +8.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.04% | 10.61% | +8.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.05% | 13.46% | +2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.05% | 13.80% | +2.25% |
DCMT vs. RLY - Expense Ratio Comparison
DCMT has a 0.66% expense ratio, which is higher than RLY's 0.50% expense ratio.
Dividends
DCMT vs. RLY - Dividend Comparison
DCMT's dividend yield for the trailing twelve months is around 2.91%, less than RLY's 3.07% 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% |
RLY State Street Multi-Asset Real Return ETF | 3.07% | 3.24% | 3.31% | 3.71% | 5.66% | 12.15% | 2.16% | 3.45% | 2.76% | 1.85% | 2.07% | 1.80% |
Frequently Asked Questions
DCMT and RLY have a correlation of 0.56, 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 RLY (2.61%). In terms of maximum drawdown, DCMT dropped -15.96% vs RLY's -37.75%.
On 1-year performance, DCMT leads with 30.61% vs 27.11% for RLY. On fees, RLY is cheaper at 0.50% per year. On volatility, RLY has been the lower-risk option at 2.61%. 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 27.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RLY is cheaper with a 0.50% expense ratio, compared with 0.66% for DCMT.
RLY has the higher dividend yield at 3.07%, compared with 2.91% for DCMT.
DCMT is categorized as Commodities, while RLY is Global Allocation. They also come from different issuers: DoubleLine and State Street. Their fees differ too: 0.66% for DCMT and 0.50% for RLY.
RLY currently has the higher Sharpe Ratio (2.57 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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