EVSM vs. ISCMF
EVSM (Eaton Vance Short Duration Municipal Income ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - EVSM is a Municipal Bonds fund tracking the ICE BofA 1-3 Year Municipal Securities Index, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past year, EVSM returned 4.06% vs 37.85% for ISCMF. At a correlation of -0.04, they often move in opposite directions. Both charge a 0.19% expense ratio.
Performance
EVSM vs. ISCMF - Performance Comparison
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Returns By Period
In the year-to-date period, EVSM achieves a 1.15% return, which is significantly lower than ISCMF's 22.87% return.
EVSM
- 1D
- 0.06%
- 1M
- 0.42%
- YTD
- 1.15%
- 6M
- 1.48%
- 1Y
- 4.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ISCMF
- 1D
- 0.00%
- 1M
- -0.67%
- YTD
- 22.87%
- 6M
- 27.76%
- 1Y
- 37.85%
- 3Y*
- 15.20%
- 5Y*
- —
- 10Y*
- —
EVSM vs. ISCMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EVSM Eaton Vance Short Duration Municipal Income ETF | 1.15% | 4.24% | 2.52% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 22.87% | 19.65% | 1.09% |
Correlation
The correlation between EVSM and ISCMF is -0.18, 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 | -0.18 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2024 | -0.04 |
The correlation between EVSM and ISCMF shifts across timeframes, from -0.18 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EVSM vs. ISCMF — Risk / Return Rank
EVSM
ISCMF
EVSM vs. ISCMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Short Duration Municipal Income ETF (EVSM) 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.
| EVSM | ISCMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.70 | 2.53 | -0.83 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 6.69 | -2.89 |
| Martin ratioReturn relative to average drawdown | 13.52 | 15.68 | -2.16 |
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
| EVSM | ISCMF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.23 | 2.05 | +1.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.89 | 0.45 | +1.44 |
Drawdowns
EVSM vs. ISCMF - Drawdown Comparison
The maximum EVSM drawdown since its inception was -1.50%, smaller than the maximum ISCMF drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for EVSM and ISCMF.
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Drawdown Indicators
| EVSM | ISCMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.50% | -25.42% | +23.92% |
Max Drawdown (1Y)Largest decline over 1 year | -1.07% | -5.69% | +4.62% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.62% | — |
Current DrawdownCurrent decline from peak | -0.06% | -5.26% | +5.20% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -13.43% | +13.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 2.42% | -2.12% |
Volatility
EVSM vs. ISCMF - Volatility Comparison
The current volatility for Eaton Vance Short Duration Municipal Income ETF (EVSM) is 0.33%, while iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a volatility of 7.14%. This indicates that EVSM 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.
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Volatility by Period
| EVSM | ISCMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 7.14% | -6.81% |
Volatility (6M)Calculated over the trailing 6-month period | 0.83% | 15.90% | -15.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.27% | 18.53% | -17.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.92% | 14.38% | -12.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.92% | 14.38% | -12.46% |
EVSM vs. ISCMF - Expense Ratio Comparison
Both EVSM and ISCMF have an expense ratio of 0.19%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EVSM vs. ISCMF - Dividend Comparison
EVSM's dividend yield for the trailing twelve months is around 3.00%, while ISCMF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
EVSM Eaton Vance Short Duration Municipal Income ETF | 3.00% | 3.12% | 2.99% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EVSM and ISCMF have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISCMF has higher volatility (7.14%) compared to EVSM (0.33%). In terms of maximum drawdown, EVSM dropped -1.50% vs ISCMF's -25.42%.
On 1-year performance, ISCMF leads with 37.85% vs 4.06% for EVSM. Both ETFs have the same 0.19% expense ratio. On volatility, EVSM has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ISCMF has performed better with a 37.85% return vs 4.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EVSM and ISCMF have the same expense ratio: 0.19% per year.
EVSM has the higher dividend yield at 3.00%, compared with 0.00% for ISCMF.
EVSM is categorized as Municipal Bonds, while ISCMF is Commodities. EVSM tracks ICE BofA 1-3 Year Municipal Securities Index, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: Eaton Vance and iShares.
EVSM currently has the higher Sharpe Ratio (3.23 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.
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