DJCB vs. USML

Last updated Jun 5, 2026

DJCB (ETRACS Bloomberg Commodity Index Total Return ETN Series B) and USML (ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN) are both exchange-traded funds - DJCB is a Commodities fund tracking the Bloomberg Commodity Index, while USML is a Leveraged Equities fund tracking the MSCI USA Minimum Volatility Index. Both are passively managed. At a 0.12 correlation, their price movements are largely independent. DJCB charges 0.50%/yr vs 0.95%/yr for USML.

Performance

DJCB vs. USML - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Bloomberg Commodity Index Total Return ETN Series B (DJCB) and ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DJCB

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USML

• 1D: 0.53%
• 1M: 4.12%
• YTD: 3.50%
• 6M: 3.37%
• 1Y: 4.24%
• 3Y*: 16.67%
• 5Y*: 8.22%
• 10Y*: —

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

DJCB vs. USML - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DJCB ETRACS Bloomberg Commodity Index Total Return ETN Series B	0.00%	0.00%	3.39%	-8.96%	16.39%	21.04%
USML ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN	3.50%	9.33%	23.97%	11.37%	-22.87%	42.12%

Correlation

The correlation between DJCB and USML is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Feb 8, 2021	0.12

Return for Risk

DJCB vs. USML — Risk / Return Rank

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

USML

USML Risk / Return Rank: 13
USML Sharpe Ratio Rank: 13
USML Sortino Ratio Rank: 13
USML Omega Ratio Rank: 13
USML Calmar Ratio Rank: 13
USML Martin Ratio Rank: 14

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.

DJCB vs. USML - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Bloomberg Commodity Index Total Return ETN Series B (DJCB) and ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DJCB	USML	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.26	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.44	—

Drawdowns

Drawdown Indicators

	DJCB	USML	Difference
Max Drawdown Largest peak-to-trough decline	—	-35.34%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-13.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.34%	—
Current Drawdown Current decline from peak	—	-3.19%	—
Average Drawdown Average peak-to-trough decline	—	-10.41%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.33%	—

Volatility

Volatility by Period

	DJCB	USML	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.24%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	16.39%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	24.47%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	24.28%	—

DJCB vs. USML - Expense Ratio Comparison

DJCB has a 0.50% expense ratio, which is lower than USML's 0.95% expense ratio.

Dividends

DJCB vs. USML - Dividend Comparison

Neither DJCB nor USML has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DJCB and USML in my portfolio?

DJCB and USML have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DJCB or USML?

On fees, DJCB is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DJCB or USML?

DJCB is cheaper with a 0.50% expense ratio, compared with 0.95% for USML.

Which ETF pays a higher dividend yield, DJCB or USML?

DJCB and USML have nearly identical dividend yields, around 0.00%.

What is the main difference between DJCB and USML?

DJCB is categorized as Commodities, while USML is Leveraged Equities. DJCB tracks Bloomberg Commodity Index, while USML tracks MSCI USA Minimum Volatility Index. Their fees differ too: 0.50% for DJCB and 0.95% for USML.