DJP vs. ISCMF

Last updated Jun 4, 2026

DJP (iPath Bloomberg Commodity Index Total Return ETN) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both Commodities funds tracking the Bloomberg Commodity Index, from Barclays Capital and iShares respectively. Both are passively managed. Over the past 3 years, DJP returned 17.94%/yr vs 15.20%/yr for ISCMF. At a 0.07 correlation, their price movements are largely independent. DJP charges 0.70%/yr vs 0.19%/yr for ISCMF.

Performance

DJP vs. ISCMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iPath Bloomberg Commodity Index Total Return ETN (DJP) and iShares Diversified Commodity Swap UCITS ETF (ISCMF). 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 ISCMF's 22.87% 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%

ISCMF

• 1D: 0.00%
• 1M: -0.67%
• YTD: 22.87%
• 6M: 27.76%
• 1Y: 37.85%
• 3Y*: 15.20%
• 5Y*: —
• 10Y*: —

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

DJP vs. ISCMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DJP iPath Bloomberg Commodity Index Total Return ETN	30.63%	17.20%	5.59%	-9.85%	-7.11%
ISCMF iShares Diversified Commodity Swap UCITS ETF	22.87%	19.65%	3.13%	-9.58%	-5.08%

Correlation

The correlation between DJP and ISCMF is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022	0.07

Return for Risk

DJP vs. ISCMF — 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

ISCMF

ISCMF Risk / Return Rank: 83
ISCMF Sharpe Ratio Rank: 61
ISCMF Sortino Ratio Rank: 83
ISCMF Omega Ratio Rank: 99
ISCMF Calmar Ratio Rank: 93
ISCMF Martin Ratio Rank: 80

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. ISCMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iPath Bloomberg Commodity Index Total Return ETN (DJP) and iShares Diversified Commodity Swap UCITS ETF (ISCMF). 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	ISCMF	Difference
Sharpe ratio Return per unit of total volatility	2.36	2.05	+0.31
Sortino ratio Return per unit of downside risk	2.95	3.74	-0.79
Omega ratio Gain probability vs. loss probability	1.42	2.53	-1.11
Calmar ratio Return relative to maximum drawdown	5.20	6.69	-1.49
Martin ratio Return relative to average drawdown	13.30	15.68	-2.38
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. ISCMF - Sharpe Ratio Comparison

The current DJP Sharpe Ratio is 2.36, which is comparable to the ISCMF Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of DJP and ISCMF, 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	ISCMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.05	+0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	—	—
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	0.45	-0.45

Drawdowns

DJP vs. ISCMF - Drawdown Comparison

The maximum DJP drawdown since its inception was -78.35%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for DJP and ISCMF.

Drawdown Indicators

	DJP	ISCMF	Difference
Max Drawdown Largest peak-to-trough decline	-78.35%	-25.42%	-52.93%
Max Drawdown (1Y) Largest decline over 1 year	-8.61%	-5.69%	-2.92%
Max Drawdown (3Y) Largest decline over 3 years	-13.41%	-7.62%	-5.79%
Max Drawdown (5Y) Largest decline over 5 years	-28.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.36%	—	—
Current Drawdown Current decline from peak	-32.82%	-5.26%	-27.56%
Average Drawdown Average peak-to-trough decline	-50.86%	-13.43%	-37.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	2.42%	+0.94%

Volatility

DJP vs. ISCMF - Volatility Comparison

The current volatility for iPath Bloomberg Commodity Index Total Return ETN (DJP) is 5.85%, while iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a volatility of 7.14%. This indicates that DJP experiences smaller price fluctuations and is considered to be less risky than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DJP	ISCMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.85%	7.14%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	16.64%	15.90%	+0.74%
Volatility (1Y) Calculated over the trailing 1-year period	18.92%	18.53%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.96%	14.38%	+4.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.06%	14.38%	+2.68%

DJP vs. ISCMF - Expense Ratio Comparison

DJP has a 0.70% expense ratio, which is higher than ISCMF's 0.19% expense ratio.

Dividends

DJP vs. ISCMF - Dividend Comparison

Neither DJP nor ISCMF has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DJP and ISCMF in my portfolio?

DJP and ISCMF have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DJP or ISCMF?

ISCMF has higher volatility (7.14%) compared to DJP (5.85%). In terms of maximum drawdown, DJP dropped -78.35% vs ISCMF's -25.42%.

Which ETF is better, DJP or ISCMF?

On 3-year performance, DJP leads with 17.94% vs 15.20% for ISCMF. On fees, ISCMF is cheaper at 0.19% per year. On volatility, DJP has been the lower-risk option at 5.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DJP or ISCMF?

Over the 3-year period, DJP has performed better with a 17.94% return vs 15.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DJP or ISCMF?

ISCMF is cheaper with a 0.19% expense ratio, compared with 0.70% for DJP.

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

DJP and ISCMF have nearly identical dividend yields, around 0.00%.

What is the main difference between DJP and ISCMF?

Both ETFs track Bloomberg Commodity Index. They also come from different issuers: Barclays Capital and iShares. Their fees differ too: 0.70% for DJP and 0.19% for ISCMF.

Which has better risk-adjusted returns?

DJP currently has the higher Sharpe Ratio (2.36 vs 2.05), 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.