DCMT vs. USCI

Last updated Jun 26, 2026

DCMT (DoubleLine Commodity Strategy ETF) and USCI (United States Commodity Index Fund) are both Commodities funds. DCMT is actively managed, while USCI is passively managed. Over the past year, DCMT returned 24.82% vs 27.31% for USCI. Their correlation of 0.87 suggests significant overlap in exposure. DCMT charges 0.66%/yr vs 1.03%/yr for USCI.

Performance

DCMT vs. USCI - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with DCMT having a 19.21% return and USCI slightly higher at 19.39%.

DCMT

• 1D: 1.82%
• 1M: -10.20%
• YTD: 19.21%
• 6M: 17.97%
• 1Y: 24.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USCI

• 1D: 1.60%
• 1M: -6.12%
• YTD: 19.39%
• 6M: 17.45%
• 1Y: 27.31%
• 3Y*: 19.78%
• 5Y*: 18.55%
• 10Y*: 8.14%

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

DCMT vs. USCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DCMT DoubleLine Commodity Strategy ETF	19.21%	6.04%	3.65%
USCI United States Commodity Index Fund	19.39%	17.63%	13.37%

Correlation

The correlation between DCMT and USCI is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024	0.87

The correlation between DCMT and USCI has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

Return for Risk

DCMT vs. USCI — Risk / Return Rank

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

DCMT

DCMT Risk / Return Rank: 41
DCMT Sharpe Ratio Rank: 42
DCMT Sortino Ratio Rank: 40
DCMT Omega Ratio Rank: 40
DCMT Calmar Ratio Rank: 34
DCMT Martin Ratio Rank: 49

USCI

USCI Risk / Return Rank: 55
USCI Sharpe Ratio Rank: 56
USCI Sortino Ratio Rank: 52
USCI Omega Ratio Rank: 51
USCI Calmar Ratio Rank: 57
USCI Martin Ratio Rank: 58

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. USCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Commodity Strategy ETF (DCMT) 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.

	DCMT	USCI	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.65	-0.29
Sortino ratio: Return per unit of downside risk	1.90	2.23	-0.33
Omega ratio: Gain probability vs. loss probability	1.24	1.28	-0.04
Calmar ratio: Return relative to maximum drawdown	1.56	2.45	-0.89
Martin ratio: Return relative to average drawdown	7.43	8.98	-1.55

DCMT vs. USCI - Sharpe Ratio Comparison

The current DCMT Sharpe Ratio is 1.36, which is comparable to the USCI Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of DCMT and USCI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DCMT vs. USCI - Drawdown Comparison

The maximum DCMT drawdown since its inception was -15.96%, smaller than the maximum USCI drawdown of -66.41%. Use the drawdown chart below to compare losses from any high point for DCMT and USCI.

Drawdown Indicators

	DCMT	USCI	Difference
Max Drawdown Largest peak-to-trough decline	-15.96%	-66.41%	+50.45%
Max Drawdown (1Y) Largest decline over 1 year	-15.96%	-11.19%	-4.77%
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	-14.43%	-9.77%	-4.66%
Average Drawdown Average peak-to-trough decline	-3.33%	-29.42%	+26.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	3.05%	+0.30%

Volatility

DCMT vs. USCI - Volatility Comparison

DoubleLine Commodity Strategy ETF (DCMT) has a higher volatility of 5.45% compared to United States Commodity Index Fund (USCI) at 3.83%. This indicates that DCMT's price experiences larger fluctuations and is considered to be riskier than USCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DCMT	USCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.45%	3.83%	+1.62%
Volatility (6M) Calculated over the trailing 6-month period	16.53%	14.14%	+2.39%
Volatility (1Y) Calculated over the trailing 1-year period	18.39%	16.64%	+1.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.94%	18.37%	-2.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.94%	15.85%	+0.09%

DCMT vs. USCI - Expense Ratio Comparison

DCMT has a 0.66% expense ratio, which is lower than USCI's 1.03% expense ratio.

Dividends

DCMT vs. USCI - Dividend Comparison

DCMT's dividend yield for the trailing twelve months is around 3.08%, while USCI has not paid dividends to shareholders.

Position	TTM	2025	2024
DCMT DoubleLine Commodity Strategy ETF	3.08%	3.67%	1.59%
USCI United States Commodity Index Fund	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DCMT and USCI in my portfolio?

With a correlation of 0.91, DCMT and USCI 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.

Which is riskier, DCMT or USCI?

DCMT has higher volatility (5.45%) compared to USCI (3.83%). In terms of maximum drawdown, DCMT dropped -15.96% vs USCI's -66.41%.

Which ETF is better, DCMT or USCI?

On 1-year performance, USCI leads with 27.31% vs 24.82% for DCMT. On fees, DCMT is cheaper at 0.66% per year. On volatility, USCI has been the lower-risk option at 3.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DCMT or USCI?

Over the 1-year period, USCI has performed better with a 27.31% return vs 24.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DCMT or USCI?

DCMT is cheaper with a 0.66% expense ratio, compared with 1.03% for USCI.

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

DCMT has the higher dividend yield at 3.08%, compared with 0.00% for USCI.

What is the main difference between DCMT and USCI?

They also come from different issuers: DoubleLine and Concierge Technologies. Their fees differ too: 0.66% for DCMT and 1.03% for USCI.

Which has better risk-adjusted returns?

USCI currently has the higher Sharpe Ratio (1.65 vs 1.36), 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.