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DJP vs. VOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DJP vs. VOO

Last updated Jun 4, 2026

DJP (iPath Bloomberg Commodity Index Total Return ETN) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - DJP is a Commodities fund tracking the Bloomberg Commodity Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, DJP returned 7.36%/yr vs 15.56%/yr for VOO. At a 0.29 correlation, their price movements are largely independent. DJP charges 0.70%/yr vs 0.03%/yr for VOO.

Performance

DJP vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iPath Bloomberg Commodity Index Total Return ETN (DJP) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DJP achieves a 30.63% return, which is significantly higher than VOO's 10.91% return. Over the past 10 years, DJP has underperformed VOO with an annualized return of 7.36%, while VOO has yielded a comparatively higher 15.56% annualized 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%

VOO

1D
-0.70%
1M
5.04%
YTD
10.91%
6M
10.93%
1Y
28.04%
3Y*
22.44%
5Y*
13.90%
10Y*
15.56%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DJP vs. VOO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%0.74%
VOO
Vanguard S&P 500 ETF		10.91%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%

Correlation

The correlation between DJP and VOO is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.10

Correlation (3Y)
Calculated over the trailing 3-year period

0.09

Correlation (5Y)
Calculated over the trailing 5-year period

0.20

Correlation (10Y)
Calculated over the trailing 10-year period

0.25

Correlation (All Time)
Calculated using the full available price history since Sep 10, 2010

0.29

The correlation between DJP and VOO shifts across timeframes, from -0.10 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iPath Bloomberg Commodity Index Total Return ETN

Vanguard S&P 500 ETF

Often compared with DJP:
DJP vs. DBCDJP vs. PDBCDJP vs. IEFDJP vs. SPYDJP vs. HYDWDJP vs. HGERDJP vs. COMT
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. SPYVOO vs. FXAIXVOO vs. IVV

Return for Risk

DJP vs. VOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DJP
DJP Risk / Return Rank: 7272
Overall Rank
DJP Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
DJP Sortino Ratio Rank: 6262
Sortino Ratio Rank
DJP Omega Ratio Rank: 6969
Omega Ratio Rank
DJP Calmar Ratio Rank: 8888
Calmar Ratio Rank
DJP Martin Ratio Rank: 7171
Martin Ratio Rank
VOO
VOO Risk / Return Rank: 7070
Overall Rank
VOO Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 7070
Sortino Ratio Rank
VOO Omega Ratio Rank: 7070
Omega Ratio Rank
VOO Calmar Ratio Rank: 6262
Calmar Ratio Rank
VOO Martin Ratio Rank: 7575
Martin Ratio Rank
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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iPath Bloomberg Commodity Index Total Return ETN (DJP) and Vanguard S&P 500 ETF (VOO). 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.

DJPVOODifference

Sharpe ratio

Return per unit of total volatility

2.36

2.39

-0.02

Sortino ratio

Return per unit of downside risk

2.95

3.25

-0.31

Omega ratio

Gain probability vs. loss probability

1.42

1.43

-0.01

Calmar ratio

Return relative to maximum drawdown

5.20

3.16

+2.03

Martin ratio

Return relative to average drawdown

13.30

14.73

-1.43

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. VOO - Sharpe Ratio Comparison

The current DJP Sharpe Ratio is 2.36, which is comparable to the VOO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of DJP and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

DJPVOODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.36

2.39

-0.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.83

-0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.43

0.87

-0.43

Sharpe Ratio (All Time)

Calculated using the full available price history

0.00

0.89

-0.88

Drawdowns

DJP vs. VOO - Drawdown Comparison

The maximum DJP drawdown since its inception was -78.35%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for DJP and VOO.

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Drawdown Indicators

DJPVOODifference

Max Drawdown

Largest peak-to-trough decline

-78.35%

-33.99%

-44.36%

Max Drawdown (1Y)

Largest decline over 1 year

-8.61%

-8.90%

+0.29%

Max Drawdown (3Y)

Largest decline over 3 years

-13.41%

-18.69%

+5.28%

Max Drawdown (5Y)

Largest decline over 5 years

-28.98%

-24.52%

-4.46%

Max Drawdown (10Y)

Largest decline over 10 years

-38.36%

-33.99%

-4.37%

Current Drawdown

Current decline from peak

-32.82%

-0.70%

-32.12%

Average Drawdown

Average peak-to-trough decline

-50.86%

-3.69%

-47.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.36%

1.91%

+1.45%

Volatility

DJP vs. VOO - Volatility Comparison

iPath Bloomberg Commodity Index Total Return ETN (DJP) has a higher volatility of 5.85% compared to Vanguard S&P 500 ETF (VOO) at 2.84%. This indicates that DJP's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DJPVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.85%

2.84%

+3.01%

Volatility (6M)

Calculated over the trailing 6-month period

16.64%

8.90%

+7.74%

Volatility (1Y)

Calculated over the trailing 1-year period

18.92%

11.80%

+7.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.96%

16.81%

+2.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.06%

18.01%

-0.95%

DJP vs. VOO - Expense Ratio Comparison

DJP has a 0.70% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

DJP vs. VOO - Dividend Comparison

DJP has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.03%.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%
VOO
Vanguard S&P 500 ETF		1.03%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Frequently Asked Questions

DJP and VOO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DJP has higher volatility (5.85%) compared to VOO (2.84%). In terms of maximum drawdown, DJP dropped -78.35% vs VOO's -33.99%.

On 10-year performance, VOO leads with 15.56% vs 7.36% for DJP. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VOO has performed better with a 15.56% return vs 7.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOO is cheaper with a 0.03% expense ratio, compared with 0.70% for DJP.

VOO has the higher dividend yield at 1.03%, compared with 0.00% for DJP.

DJP is categorized as Commodities, while VOO is S&P 500. DJP tracks Bloomberg Commodity Index, while VOO tracks S&P 500 Index. They also come from different issuers: Barclays Capital and Vanguard. Their fees differ too: 0.70% for DJP and 0.03% for VOO.

VOO currently has the higher Sharpe Ratio (2.39 vs 2.36), 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.

Portfolio Optimizer

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