FIXD vs. SDCI
FIXD (First Trust Smith Opportunistic Fixed Income ETF) and SDCI (USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund) are both exchange-traded funds - FIXD is a Intermediate Core-Plus Bond fund actively managed by First Trust, while SDCI is a Commodities fund tracking the SummerHaven Dynamic Commodity Index Total Return. FIXD is actively managed, while SDCI is passively managed. Over the past 5 years, FIXD returned -0.25%/yr vs 19.51%/yr for SDCI. At a correlation of -0.07, they often move in opposite directions. FIXD charges 0.65%/yr vs 0.60%/yr for SDCI.
Performance
FIXD vs. SDCI - Performance Comparison
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Returns By Period
In the year-to-date period, FIXD achieves a 0.84% return, which is significantly lower than SDCI's 20.11% return.
FIXD
- 1D
- 0.00%
- 1M
- 0.88%
- YTD
- 0.84%
- 6M
- 0.64%
- 1Y
- 4.72%
- 3Y*
- 4.06%
- 5Y*
- -0.25%
- 10Y*
- —
SDCI
- 1D
- 1.53%
- 1M
- -5.94%
- YTD
- 20.11%
- 6M
- 17.81%
- 1Y
- 27.87%
- 3Y*
- 20.44%
- 5Y*
- 19.51%
- 10Y*
- —
FIXD vs. SDCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FIXD First Trust Smith Opportunistic Fixed Income ETF | 0.84% | 7.95% | 0.75% | 5.72% | -15.00% | -1.07% | 8.99% | 10.56% | 2.31% |
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 20.11% | 17.60% | 17.91% | -0.88% | 33.23% | 36.52% | -10.61% | -2.36% | -13.91% |
Correlation
The correlation between FIXD and SDCI is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since May 3, 2018 | -0.07 |
Over the past year, the inverse relationship between FIXD and SDCI has strengthened: their correlation has moved from -0.07 to -0.28, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
FIXD vs. SDCI — Risk / Return Rank
FIXD
SDCI
FIXD vs. SDCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Smith Opportunistic Fixed Income ETF (FIXD) and USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI). 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.
| FIXD | SDCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.28 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 2.54 | -1.06 |
| Martin ratioReturn relative to average drawdown | 4.19 | 9.21 | -5.02 |
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Drawdowns
FIXD vs. SDCI - Drawdown Comparison
The maximum FIXD drawdown since its inception was -20.44%, smaller than the maximum SDCI drawdown of -45.79%. Use the drawdown chart below to compare losses from any high point for FIXD and SDCI.
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Drawdown Indicators
| FIXD | SDCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.44% | -45.79% | +25.35% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -11.03% | +7.82% |
Max Drawdown (3Y)Largest decline over 3 years | -6.97% | -11.96% | +4.99% |
Max Drawdown (5Y)Largest decline over 5 years | -20.44% | -18.55% | -1.89% |
Current DrawdownCurrent decline from peak | -2.90% | -9.66% | +6.76% |
Average DrawdownAverage peak-to-trough decline | -5.48% | -11.55% | +6.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 3.03% | -1.90% |
Volatility
FIXD vs. SDCI - Volatility Comparison
The current volatility for First Trust Smith Opportunistic Fixed Income ETF (FIXD) is 1.23%, while USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) has a volatility of 3.70%. This indicates that FIXD experiences smaller price fluctuations and is considered to be less risky than SDCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIXD | SDCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 3.70% | -2.47% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 14.38% | -11.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 16.76% | -12.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.60% | 18.39% | -11.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.83% | 17.06% | -11.23% |
FIXD vs. SDCI - Expense Ratio Comparison
FIXD has a 0.65% expense ratio, which is higher than SDCI's 0.60% expense ratio.
Dividends
FIXD vs. SDCI - Dividend Comparison
FIXD's dividend yield for the trailing twelve months is around 5.06%, more than SDCI's 3.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FIXD First Trust Smith Opportunistic Fixed Income ETF | 5.06% | 4.50% | 4.56% | 3.93% | 3.07% | 1.74% | 3.14% | 5.10% | 2.81% | 1.95% |
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 3.06% | 3.68% | 5.92% | 3.46% | 33.49% | 19.26% | 0.20% | 0.93% | 0.68% | 0.00% |
Frequently Asked Questions
FIXD and SDCI have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDCI has higher volatility (3.70%) compared to FIXD (1.23%). In terms of maximum drawdown, FIXD dropped -20.44% vs SDCI's -45.79%.
On 5-year performance, SDCI leads with 19.51% vs -0.25% for FIXD. On fees, SDCI is cheaper at 0.60% per year. On volatility, FIXD has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SDCI has performed better with a 19.51% return vs -0.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SDCI is cheaper with a 0.60% expense ratio, compared with 0.65% for FIXD.
FIXD has the higher dividend yield at 5.06%, compared with 3.06% for SDCI.
FIXD is categorized as Intermediate Core-Plus Bond, while SDCI is Commodities. They also come from different issuers: First Trust and USCF Investments. Their fees differ too: 0.65% for FIXD and 0.60% for SDCI.
SDCI currently has the higher Sharpe Ratio (1.67 vs 1.14), 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.
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