DJP vs. BCI
DJP (iPath Bloomberg Commodity Index Total Return ETN) and BCI (abrdn Bloomberg All Commodity Strategy K-1 Free ETF) are both Commodities funds - DJP tracks the Bloomberg Commodity Index while BCI tracks the Bloomberg Commodity Index Total Return. Both are passively managed. Over the past 5 years, DJP returned 10.72%/yr vs 9.52%/yr for BCI. With a 0.95 correlation, they move nearly in lockstep. DJP charges 0.70%/yr vs 0.26%/yr for BCI.
Performance
DJP vs. BCI - Performance Comparison
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Returns By Period
In the year-to-date period, DJP achieves a 17.18% return, which is significantly higher than BCI's 15.26% return.
DJP
- 1D
- -1.45%
- 1M
- -10.97%
- YTD
- 17.18%
- 6M
- 15.04%
- 1Y
- 26.02%
- 3Y*
- 12.62%
- 5Y*
- 10.72%
- 10Y*
- 6.24%
BCI
- 1D
- -1.23%
- 1M
- -9.78%
- YTD
- 15.26%
- 6M
- 13.54%
- 1Y
- 23.04%
- 3Y*
- 11.40%
- 5Y*
- 9.52%
- 10Y*
- —
DJP vs. BCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 17.18% | 17.20% | 5.59% | -9.85% | 17.46% | 31.05% | -4.12% | 7.63% | -13.07% | 3.92% |
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 15.26% | 15.07% | 5.47% | -8.79% | 15.09% | 26.18% | -2.77% | 7.06% | -11.21% | 3.81% |
Correlation
The correlation between DJP and BCI is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2017 | 0.95 |
The correlation between DJP and BCI has been stable across timeframes, ranging from 0.95 to 0.99 - a consistent structural relationship.
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Return for Risk
DJP vs. BCI — Risk / Return Rank
DJP
BCI
DJP vs. BCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iPath Bloomberg Commodity Index Total Return ETN (DJP) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI). 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.
| DJP | BCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 1.76 | +0.02 |
| Martin ratioReturn relative to average drawdown | 6.99 | 6.95 | +0.04 |
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Drawdowns
DJP vs. BCI - Drawdown Comparison
The maximum DJP drawdown since its inception was -78.35%, which is greater than BCI's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for DJP and BCI.
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Drawdown Indicators
| DJP | BCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.35% | -32.69% | -45.66% |
Max Drawdown (1Y)Largest decline over 1 year | -14.66% | -13.12% | -1.54% |
Max Drawdown (3Y)Largest decline over 3 years | -14.66% | -13.12% | -1.54% |
Max Drawdown (5Y)Largest decline over 5 years | -28.98% | -26.50% | -2.48% |
Max Drawdown (10Y)Largest decline over 10 years | -38.36% | — | — |
Current DrawdownCurrent decline from peak | -39.74% | -13.12% | -26.62% |
Average DrawdownAverage peak-to-trough decline | -50.82% | -11.99% | -38.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 3.34% | +0.42% |
Volatility
DJP vs. BCI - Volatility Comparison
iPath Bloomberg Commodity Index Total Return ETN (DJP) has a higher volatility of 4.23% compared to abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) at 3.55%. This indicates that DJP's price experiences larger fluctuations and is considered to be riskier than BCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DJP | BCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 3.55% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 16.88% | 14.98% | +1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.24% | 17.20% | +2.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.95% | 16.79% | +2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.06% | 15.65% | +1.41% |
DJP vs. BCI - Expense Ratio Comparison
DJP has a 0.70% expense ratio, which is higher than BCI's 0.26% expense ratio.
Dividends
DJP vs. BCI - Dividend Comparison
DJP has not paid dividends to shareholders, while BCI's dividend yield for the trailing twelve months is around 14.30%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 14.30% | 16.49% | 3.29% | 3.93% | 19.98% | 19.43% | 0.68% | 1.47% | 1.13% | 5.02% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, DJP and BCI 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 (4.23%) compared to BCI (3.55%). In terms of maximum drawdown, DJP dropped -78.35% vs BCI's -32.69%.
On 5-year performance, DJP leads with 10.72% vs 9.52% for BCI. On fees, BCI is cheaper at 0.26% per year. On volatility, BCI has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DJP has performed better with a 10.72% return vs 9.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BCI is cheaper with a 0.26% expense ratio, compared with 0.70% for DJP.
BCI has the higher dividend yield at 14.30%, compared with 0.00% for DJP.
DJP tracks Bloomberg Commodity Index, while BCI tracks Bloomberg Commodity Index Total Return. They also come from different issuers: Barclays Capital and Aberdeen. Their fees differ too: 0.70% for DJP and 0.26% for BCI.
DJP currently has the higher Sharpe Ratio (1.37 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.
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