DJP vs. CAPE
Compare and contrast key facts about iPath Bloomberg Commodity Index Total Return ETN (DJP) and iPath Shiller CAPE ETN (CAPE).
DJP and CAPE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DJP is a passively managed fund by Barclays Capital that tracks the performance of the Bloomberg Commodity Index. It was launched on Jun 6, 2006. CAPE is a passively managed fund by Barclays Capital that tracks the performance of the Shiller Barclays CAPE US Core Sector Index. It was launched on Oct 10, 2012. Both DJP and CAPE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
DJP vs. CAPE - Performance Comparison
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DJP vs. CAPE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 28.00% | 17.20% | 5.59% | -9.85% | -9.82% |
CAPE iPath Shiller CAPE ETN | -4.29% | 9.10% | 14.40% | 27.65% | -15.28% |
Returns By Period
In the year-to-date period, DJP achieves a 28.00% return, which is significantly higher than CAPE's -4.29% return.
DJP
- 1D
- 0.08%
- 1M
- 12.77%
- YTD
- 28.00%
- 6M
- 35.84%
- 1Y
- 36.34%
- 3Y*
- 15.08%
- 5Y*
- 15.17%
- 10Y*
- 8.53%
CAPE
- 1D
- 2.22%
- 1M
- -7.33%
- YTD
- -4.29%
- 6M
- -4.53%
- 1Y
- 2.96%
- 3Y*
- 12.22%
- 5Y*
- —
- 10Y*
- —
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DJP vs. CAPE - Expense Ratio Comparison
DJP has a 0.70% expense ratio, which is higher than CAPE's 0.45% expense ratio.
Return for Risk
DJP vs. CAPE — Risk / Return Rank
DJP
CAPE
DJP vs. CAPE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iPath Bloomberg Commodity Index Total Return ETN (DJP) and iPath Shiller CAPE ETN (CAPE). 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 | CAPE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.89 | 0.20 | +1.69 |
Sortino ratioReturn per unit of downside risk | 2.46 | 0.40 | +2.06 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.05 | +0.30 |
Calmar ratioReturn relative to maximum drawdown | 3.53 | 0.37 | +3.15 |
Martin ratioReturn relative to average drawdown | 9.67 | 1.50 | +8.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DJP | CAPE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.89 | 0.20 | +1.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.00 | 0.39 | -0.39 |
Correlation
The correlation between DJP and CAPE is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
DJP vs. CAPE - Dividend Comparison
DJP has not paid dividends to shareholders, while CAPE's dividend yield for the trailing twelve months is around 1.46%.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CAPE iPath Shiller CAPE ETN | 1.46% | 1.39% | 1.23% | 1.01% | 0.80% |
Drawdowns
DJP vs. CAPE - Drawdown Comparison
The maximum DJP drawdown since its inception was -78.35%, which is greater than CAPE's maximum drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for DJP and CAPE.
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Drawdown Indicators
| DJP | CAPE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.35% | -22.07% | -56.28% |
Max Drawdown (1Y)Largest decline over 1 year | -10.64% | -10.89% | +0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -28.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.36% | — | — |
Current DrawdownCurrent decline from peak | -34.17% | -7.33% | -26.84% |
Average DrawdownAverage peak-to-trough decline | -51.02% | -5.00% | -46.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 2.71% | +1.17% |
Volatility
DJP vs. CAPE - Volatility Comparison
iPath Bloomberg Commodity Index Total Return ETN (DJP) has a higher volatility of 8.13% compared to iPath Shiller CAPE ETN (CAPE) at 5.09%. This indicates that DJP's price experiences larger fluctuations and is considered to be riskier than CAPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DJP | CAPE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.13% | 5.09% | +3.04% |
Volatility (6M)Calculated over the trailing 6-month period | 15.22% | 8.01% | +7.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.33% | 15.07% | +4.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.78% | 17.14% | +1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.00% | 17.14% | -0.14% |