EFFE vs. ISCMF

Last updated Jun 24, 2026

EFFE (Harbor Osmosis Emerging Markets Resource Efficient ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - EFFE is a Emerging Markets Diversified fund actively managed by Harbor, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. EFFE is actively managed, while ISCMF is passively managed. Over the past year, EFFE returned 30.19% vs 31.30% for ISCMF. At a correlation of -0.06, they often move in opposite directions. EFFE charges 0.69%/yr vs 0.19%/yr for ISCMF.

Performance

EFFE vs. ISCMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) 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, EFFE achieves a 17.73% return, which is significantly lower than ISCMF's 22.87% return.

EFFE

• 1D: -5.58%
• 1M: 0.23%
• YTD: 17.73%
• 6M: 18.02%
• 1Y: 30.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ISCMF

• 1D: 0.00%
• 1M: -4.99%
• YTD: 22.87%
• 6M: 22.87%
• 1Y: 31.30%
• 3Y*: 16.78%
• 5Y*: —
• 10Y*: —

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

EFFE vs. ISCMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EFFE Harbor Osmosis Emerging Markets Resource Efficient ETF	17.73%	22.42%	-0.84%
ISCMF iShares Diversified Commodity Swap UCITS ETF	22.87%	19.65%	0.00%

Correlation

The correlation between EFFE and ISCMF is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	-0.06

Return for Risk

EFFE vs. ISCMF — Risk / Return Rank

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

EFFE

EFFE Risk / Return Rank: 45
EFFE Sharpe Ratio Rank: 42
EFFE Sortino Ratio Rank: 38
EFFE Omega Ratio Rank: 44
EFFE Calmar Ratio Rank: 49
EFFE Martin Ratio Rank: 51

ISCMF

ISCMF Risk / Return Rank: 78
ISCMF Sharpe Ratio Rank: 56
ISCMF Sortino Ratio Rank: 77
ISCMF Omega Ratio Rank: 98
ISCMF Calmar Ratio Rank: 92
ISCMF Martin Ratio Rank: 69

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.

EFFE vs. ISCMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) 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.

	EFFE	ISCMF	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.76	-0.42
Sortino ratio: Return per unit of downside risk	1.83	3.18	-1.36
Omega ratio: Gain probability vs. loss probability	1.26	2.31	-1.05
Calmar ratio: Return relative to maximum drawdown	2.21	5.53	-3.32
Martin ratio: Return relative to average drawdown	7.90	11.85	-3.95

EFFE vs. ISCMF - Sharpe Ratio Comparison

The current EFFE Sharpe Ratio is 1.34, which is comparable to the ISCMF Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of EFFE 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.

Drawdowns

EFFE vs. ISCMF - Drawdown Comparison

The maximum EFFE drawdown since its inception was -13.75%, smaller than the maximum ISCMF drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for EFFE and ISCMF.

Drawdown Indicators

	EFFE	ISCMF	Difference
Max Drawdown Largest peak-to-trough decline	-13.75%	-25.42%	+11.67%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-5.69%	-8.06%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.62%	—
Current Drawdown Current decline from peak	-9.05%	-5.26%	-3.79%
Average Drawdown Average peak-to-trough decline	-2.12%	-13.35%	+11.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.83%	2.65%	+1.18%

Volatility

EFFE vs. ISCMF - Volatility Comparison

Harbor Osmosis Emerging Markets Resource Efficient ETF (EFFE) has a higher volatility of 12.74% compared to iShares Diversified Commodity Swap UCITS ETF (ISCMF) at 5.11%. This indicates that EFFE'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.

Volatility by Period

	EFFE	ISCMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.74%	5.11%	+7.63%
Volatility (6M) Calculated over the trailing 6-month period	20.67%	15.45%	+5.22%
Volatility (1Y) Calculated over the trailing 1-year period	22.67%	17.84%	+4.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.46%	14.29%	+7.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.46%	14.29%	+7.17%

EFFE vs. ISCMF - Expense Ratio Comparison

EFFE has a 0.69% expense ratio, which is higher than ISCMF's 0.19% expense ratio.

Dividends

EFFE vs. ISCMF - Dividend Comparison

EFFE's dividend yield for the trailing twelve months is around 3.99%, while ISCMF has not paid dividends to shareholders.

Position	TTM	2025
EFFE Harbor Osmosis Emerging Markets Resource Efficient ETF	3.99%	4.69%
ISCMF iShares Diversified Commodity Swap UCITS ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both EFFE and ISCMF in my portfolio?

EFFE and ISCMF 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.

Which is riskier, EFFE or ISCMF?

EFFE has higher volatility (12.74%) compared to ISCMF (5.11%). In terms of maximum drawdown, EFFE dropped -13.75% vs ISCMF's -25.42%.

Which ETF is better, EFFE or ISCMF?

On 1-year performance, ISCMF leads with 31.30% vs 30.19% for EFFE. 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.

Which ETF has performed better, EFFE or ISCMF?

Over the 1-year period, ISCMF has performed better with a 31.30% return vs 30.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFFE or ISCMF?

ISCMF is cheaper with a 0.19% expense ratio, compared with 0.69% for EFFE.

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

EFFE has the higher dividend yield at 3.99%, compared with 0.00% for ISCMF.

What is the main difference between EFFE and ISCMF?

EFFE is categorized as Emerging Markets Diversified, while ISCMF is Commodities. They also come from different issuers: Harbor and iShares. Their fees differ too: 0.69% for EFFE and 0.19% for ISCMF.

Which has better risk-adjusted returns?

ISCMF currently has the higher Sharpe Ratio (1.76 vs 1.34), 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.