FEBU vs. DCMT

Last updated Jun 4, 2026

FEBU (AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF) and DCMT (DoubleLine Commodity Strategy ETF) are both exchange-traded funds - FEBU is a Defined Outcome fund actively managed by Allianz, while DCMT is a Commodities fund actively managed by DoubleLine. Both are actively managed. Over the past year, FEBU returned 19.90% vs 42.19% for DCMT. At a correlation of -0.03, they often move in opposite directions. FEBU charges 0.74%/yr vs 0.66%/yr for DCMT.

Performance

FEBU vs. DCMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU) and DoubleLine Commodity Strategy ETF (DCMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEBU achieves a 8.26% return, which is significantly lower than DCMT's 34.49% return.

FEBU

• 1D: -0.52%
• 1M: 4.11%
• YTD: 8.26%
• 6M: 7.92%
• 1Y: 19.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DCMT

• 1D: 0.63%
• 1M: -2.89%
• YTD: 34.49%
• 6M: 33.53%
• 1Y: 42.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEBU vs. DCMT - Yearly Performance Comparison

	2026 (YTD)	2025
FEBU AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	8.26%	10.43%
DCMT DoubleLine Commodity Strategy ETF	34.49%	1.66%

Correlation

The correlation between FEBU and DCMT is -0.17, 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	-0.17
Correlation (All Time) Calculated using the full available price history since Feb 4, 2025	-0.03

The correlation between FEBU and DCMT shifts across timeframes, from -0.17 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FEBU vs. DCMT — Risk / Return Rank

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

FEBU

FEBU Risk / Return Rank: 67
FEBU Sharpe Ratio Rank: 66
FEBU Sortino Ratio Rank: 65
FEBU Omega Ratio Rank: 65
FEBU Calmar Ratio Rank: 68
FEBU Martin Ratio Rank: 70

DCMT

DCMT Risk / Return Rank: 76
DCMT Sharpe Ratio Rank: 71
DCMT Sortino Ratio Rank: 66
DCMT Omega Ratio Rank: 69
DCMT Calmar Ratio Rank: 93
DCMT Martin Ratio Rank: 82

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.

FEBU vs. DCMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU) and DoubleLine Commodity Strategy ETF (DCMT). 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.

	FEBU	DCMT	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.32	-0.18
Sortino ratio: Return per unit of downside risk	2.96	3.01	-0.06
Omega ratio: Gain probability vs. loss probability	1.39	1.41	-0.02
Calmar ratio: Return relative to maximum drawdown	3.34	6.83	-3.49
Martin ratio: Return relative to average drawdown	12.90	16.31	-3.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEBU vs. DCMT - Sharpe Ratio Comparison

The current FEBU Sharpe Ratio is 2.14, which is comparable to the DCMT Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of FEBU and DCMT, 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

	FEBU	DCMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	2.32	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	1.26	1.20	+0.05

Drawdowns

FEBU vs. DCMT - Drawdown Comparison

The maximum FEBU drawdown since its inception was -11.73%, roughly equal to the maximum DCMT drawdown of -11.95%. Use the drawdown chart below to compare losses from any high point for FEBU and DCMT.

Drawdown Indicators

	FEBU	DCMT	Difference
Max Drawdown Largest peak-to-trough decline	-11.73%	-11.95%	+0.22%
Max Drawdown (1Y) Largest decline over 1 year	-5.99%	-6.21%	+0.22%
Current Drawdown Current decline from peak	-0.52%	-3.46%	+2.94%
Average Drawdown Average peak-to-trough decline	-1.89%	-3.13%	+1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	2.59%	-1.04%

Volatility

FEBU vs. DCMT - Volatility Comparison

The current volatility for AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU) is 2.53%, while DoubleLine Commodity Strategy ETF (DCMT) has a volatility of 6.71%. This indicates that FEBU experiences smaller price fluctuations and is considered to be less risky than DCMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEBU	DCMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	6.71%	-4.18%
Volatility (6M) Calculated over the trailing 6-month period	6.85%	15.87%	-9.02%
Volatility (1Y) Calculated over the trailing 1-year period	9.36%	18.27%	-8.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.47%	15.77%	-4.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.47%	15.77%	-4.30%

FEBU vs. DCMT - Expense Ratio Comparison

FEBU has a 0.74% expense ratio, which is higher than DCMT's 0.66% expense ratio.

Dividends

FEBU vs. DCMT - Dividend Comparison

FEBU has not paid dividends to shareholders, while DCMT's dividend yield for the trailing twelve months is around 2.73%.

Position	TTM	2025	2024
DCMT DoubleLine Commodity Strategy ETF	2.73%	3.67%	1.59%
FEBU AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEBU and DCMT in my portfolio?

FEBU and DCMT have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEBU or DCMT?

DCMT has higher volatility (6.71%) compared to FEBU (2.53%). In terms of maximum drawdown, FEBU dropped -11.73% vs DCMT's -11.95%.

Which ETF is better, FEBU or DCMT?

On 1-year performance, DCMT leads with 42.19% vs 19.90% for FEBU. On fees, DCMT is cheaper at 0.66% per year. On volatility, FEBU has been the lower-risk option at 2.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEBU or DCMT?

Over the 1-year period, DCMT has performed better with a 42.19% return vs 19.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEBU or DCMT?

DCMT is cheaper with a 0.66% expense ratio, compared with 0.74% for FEBU.

Which ETF pays a higher dividend yield, FEBU or DCMT?

DCMT has the higher dividend yield at 2.73%, compared with 0.00% for FEBU.

What is the main difference between FEBU and DCMT?

FEBU is categorized as Defined Outcome, while DCMT is Commodities. They also come from different issuers: Allianz and DoubleLine. Their fees differ too: 0.74% for FEBU and 0.66% for DCMT.

Which has better risk-adjusted returns?

DCMT currently has the higher Sharpe Ratio (2.32 vs 2.14), 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.