DJP vs. BCI

Last updated Jun 4, 2026

DJP (iPath Bloomberg Commodity Index Total Return ETN) and BCI (abrdn Bloomberg All Commodity Strategy K-1 Free ETF) are both Commodities funds. DJP is passively managed, while BCI is actively managed. Over the past 5 years, DJP returned 12.46%/yr vs 11.07%/yr for BCI. With a 0.95 correlation, they move nearly in lockstep. DJP charges 0.70%/yr vs 0.25%/yr for BCI.

Performance

DJP vs. BCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iPath Bloomberg Commodity Index Total Return ETN (DJP) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DJP achieves a 30.63% return, which is significantly higher than BCI's 26.68% return.

DJP

• 1D: 0.02%
• 1M: -3.31%
• YTD: 30.63%
• 6M: 29.34%
• 1Y: 44.52%
• 3Y*: 17.94%
• 5Y*: 12.46%
• 10Y*: 7.36%

BCI

• 1D: -0.12%
• 1M: -3.06%
• YTD: 26.68%
• 6M: 25.55%
• 1Y: 38.68%
• 3Y*: 15.96%
• 5Y*: 11.07%
• 10Y*: —

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

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	30.63%	17.20%	5.59%	-9.85%	17.46%	31.05%	-4.12%	7.63%	-13.07%	3.78%
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	26.68%	15.07%	5.47%	-8.79%	15.09%	26.18%	-2.77%	7.06%	-11.21%	2.94%

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 Apr 3, 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.

Return for Risk

DJP vs. BCI — Risk / Return Rank

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

DJP

DJP Risk / Return Rank: 72
DJP Sharpe Ratio Rank: 71
DJP Sortino Ratio Rank: 62
DJP Omega Ratio Rank: 69
DJP Calmar Ratio Rank: 88
DJP Martin Ratio Rank: 71

BCI

BCI Risk / Return Rank: 71
BCI Sharpe Ratio Rank: 68
BCI Sortino Ratio Rank: 61
BCI Omega Ratio Rank: 67
BCI Calmar Ratio Rank: 87
BCI Martin Ratio Rank: 70

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.

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.

	DJP	BCI	Difference
Sharpe ratio Return per unit of total volatility	2.36	2.30	+0.07
Sortino ratio Return per unit of downside risk	2.95	2.92	+0.03
Omega ratio Gain probability vs. loss probability	1.42	1.41	+0.01
Calmar ratio Return relative to maximum drawdown	5.20	5.10	+0.09
Martin ratio Return relative to average drawdown	13.30	13.14	+0.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DJP vs. BCI - Sharpe Ratio Comparison

The current DJP Sharpe Ratio is 2.36, which is comparable to the BCI Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of DJP and BCI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DJP	BCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.30	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.66	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.48	-0.48

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.

Drawdown Indicators

	DJP	BCI	Difference
Max Drawdown Largest peak-to-trough decline	-78.35%	-32.69%	-45.66%
Max Drawdown (1Y) Largest decline over 1 year	-8.61%	-7.61%	-1.00%
Max Drawdown (3Y) Largest decline over 3 years	-13.41%	-11.38%	-2.03%
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 Drawdown Current decline from peak	-32.82%	-4.52%	-28.30%
Average Drawdown Average peak-to-trough decline	-50.86%	-12.00%	-38.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	2.95%	+0.41%

Volatility

DJP vs. BCI - Volatility Comparison

iPath Bloomberg Commodity Index Total Return ETN (DJP) has a higher volatility of 5.85% compared to abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) at 5.16%. 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.

Volatility by Period

	DJP	BCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.85%	5.16%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	16.64%	14.80%	+1.84%
Volatility (1Y) Calculated over the trailing 1-year period	18.92%	16.92%	+2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.96%	16.82%	+2.14%
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 0.25% 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 13.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	13.01%	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

Can I hold both DJP and BCI in my portfolio?

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.

Which is riskier, DJP or BCI?

DJP has higher volatility (5.85%) compared to BCI (5.16%). In terms of maximum drawdown, DJP dropped -78.35% vs BCI's -32.69%.

Which ETF is better, DJP or BCI?

On 5-year performance, DJP leads with 12.46% vs 11.07% for BCI. On fees, BCI is cheaper at 0.25% per year. On volatility, BCI has been the lower-risk option at 5.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DJP or BCI?

Over the 5-year period, DJP has performed better with a 12.46% return vs 11.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DJP or BCI?

BCI is cheaper with a 0.25% expense ratio, compared with 0.70% for DJP.

Which ETF pays a higher dividend yield, DJP or BCI?

BCI has the higher dividend yield at 13.01%, compared with 0.00% for DJP.

What is the main difference between DJP and BCI?

They also come from different issuers: Barclays Capital and Aberdeen. Their fees differ too: 0.70% for DJP and 0.25% for BCI.

Which has better risk-adjusted returns?

DJP currently has the higher Sharpe Ratio (2.36 vs 2.30), 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.