ECNS vs. ISCMF
ECNS (iShares MSCI China Small-Cap ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - ECNS is a Asia Pacific Equities fund tracking the MSCI China Small Cap Index, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past 3 years, ECNS returned 6.91%/yr vs 16.78%/yr for ISCMF. At a 0.01 correlation, their price movements are largely independent. ECNS charges 0.59%/yr vs 0.19%/yr for ISCMF.
Performance
ECNS vs. ISCMF - Performance Comparison
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Returns By Period
In the year-to-date period, ECNS achieves a -9.88% return, which is significantly lower than ISCMF's 22.87% return.
ECNS
- 1D
- -1.92%
- 1M
- -6.71%
- YTD
- -9.88%
- 6M
- -11.17%
- 1Y
- 1.85%
- 3Y*
- 6.91%
- 5Y*
- -8.08%
- 10Y*
- 1.55%
ISCMF
- 1D
- 0.00%
- 1M
- -4.99%
- YTD
- 22.87%
- 6M
- 22.87%
- 1Y
- 31.30%
- 3Y*
- 16.78%
- 5Y*
- —
- 10Y*
- —
ECNS vs. ISCMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ECNS iShares MSCI China Small-Cap ETF | -9.88% | 36.49% | 5.64% | -23.05% | -9.34% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 22.87% | 19.65% | 3.13% | -9.58% | -5.82% |
Correlation
The correlation between ECNS and ISCMF is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.01 |
The correlation between ECNS and ISCMF shifts across timeframes, from -0.14 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ECNS vs. ISCMF — Risk / Return Rank
ECNS
ISCMF
ECNS vs. ISCMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Small-Cap ETF (ECNS) 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.
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.
| ECNS | ISCMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.67 | ||
| Sortino ratioReturn per unit of downside risk | -2.92 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 2.31 | -1.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | 5.53 | -5.45 |
| Martin ratioReturn relative to average drawdown | 0.18 | 11.85 | -11.67 |
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Drawdowns
ECNS vs. ISCMF - Drawdown Comparison
The maximum ECNS drawdown since its inception was -63.43%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for ECNS and ISCMF.
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Drawdown Indicators
| ECNS | ISCMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.43% | -25.42% | -38.01% |
Max Drawdown (1Y)Largest decline over 1 year | -22.70% | -5.69% | -17.01% |
Max Drawdown (3Y)Largest decline over 3 years | -31.72% | -7.62% | -24.10% |
Max Drawdown (5Y)Largest decline over 5 years | -59.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -63.43% | — | — |
Current DrawdownCurrent decline from peak | -41.99% | -5.26% | -36.73% |
Average DrawdownAverage peak-to-trough decline | -29.41% | -13.35% | -16.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.24% | 2.65% | +7.59% |
Volatility
ECNS vs. ISCMF - Volatility Comparison
iShares MSCI China Small-Cap ETF (ECNS) has a higher volatility of 5.69% compared to iShares Diversified Commodity Swap UCITS ETF (ISCMF) at 5.11%. This indicates that ECNS's price experiences larger fluctuations and is considered to be riskier than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ECNS | ISCMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 5.11% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 13.59% | 15.45% | -1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.68% | 17.84% | +2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.44% | 14.29% | +15.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.90% | 14.29% | +11.61% |
ECNS vs. ISCMF - Expense Ratio Comparison
ECNS has a 0.59% expense ratio, which is higher than ISCMF's 0.19% expense ratio.
Dividends
ECNS vs. ISCMF - Dividend Comparison
ECNS's dividend yield for the trailing twelve months is around 6.53%, while ISCMF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECNS iShares MSCI China Small-Cap ETF | 6.53% | 6.20% | 5.98% | 4.89% | 3.54% | 4.87% | 3.59% | 3.23% | 6.16% | 3.18% | 4.29% | 3.58% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ECNS and ISCMF have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ECNS has higher volatility (5.69%) compared to ISCMF (5.11%). In terms of maximum drawdown, ECNS dropped -63.43% vs ISCMF's -25.42%.
On 3-year performance, ISCMF leads with 16.78% vs 6.91% for ECNS. On fees, ISCMF is cheaper at 0.19% per year. On volatility, ISCMF has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ISCMF has performed better with a 16.78% return vs 6.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISCMF is cheaper with a 0.19% expense ratio, compared with 0.59% for ECNS.
ECNS has the higher dividend yield at 6.53%, compared with 0.00% for ISCMF.
ECNS is categorized as Asia Pacific Equities, while ISCMF is Commodities. ECNS tracks MSCI China Small Cap Index, while ISCMF tracks Bloomberg Commodity Index. Their fees differ too: 0.59% for ECNS and 0.19% for ISCMF.
ISCMF currently has the higher Sharpe Ratio (1.76 vs 0.09), 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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