FRO vs. USCI
FRO (Frontline Ltd.) is a stock, while USCI (United States Commodity Index Fund) is Commodities fund tracking the SummerHaven Dynamic Commodity Index Total Return. Over the past 10 years, FRO returned 25.40%/yr vs 8.41%/yr for USCI. At a 0.24 correlation, their price movements are largely independent.
Performance
FRO vs. USCI - Performance Comparison
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Returns By Period
In the year-to-date period, FRO achieves a 88.15% return, which is significantly higher than USCI's 23.68% return. Over the past 10 years, FRO has outperformed USCI with an annualized return of 25.40%, while USCI has yielded a comparatively lower 8.41% annualized return.
FRO
- 1D
- 4.29%
- 1M
- 7.17%
- 6M
- 64.34%
- YTD
- 88.15%
- 1Y
- 120.41%
- 3Y*
- 47.42%
- 5Y*
- 45.52%
- 10Y*
- 25.40%
USCI
- 1D
- -0.50%
- 1M
- -0.05%
- 6M
- 22.70%
- YTD
- 23.68%
- 1Y
- 28.10%
- 3Y*
- 20.39%
- 5Y*
- 19.25%
- 10Y*
- 8.41%
FRO vs. USCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRO Frontline Ltd. | 88.15% | 61.17% | -22.48% | 96.23% | 73.67% | 13.67% | -41.47% | 134.59% | 20.48% | -32.17% |
USCI United States Commodity Index Fund | 23.68% | 17.63% | 17.24% | -0.00% | 29.47% | 33.07% | -11.47% | -1.68% | -11.76% | 6.32% |
Correlation
The correlation between FRO and USCI is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2010 | 0.24 |
The correlation between FRO and USCI shifts across timeframes, from 0.08 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FRO vs. USCI — Risk / Return Rank
FRO
USCI
FRO vs. USCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Frontline Ltd. (FRO) and United States Commodity Index Fund (USCI). 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.
| FRO | USCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.30 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 6.01 | 2.67 | +3.34 |
| Martin ratioReturn relative to average drawdown | 16.05 | 8.50 | +7.56 |
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Drawdowns
FRO vs. USCI - Drawdown Comparison
The maximum FRO drawdown since its inception was -98.36%, which is greater than USCI's maximum drawdown of -66.41%. Use the drawdown chart below to compare losses from any high point for FRO and USCI.
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Drawdown Indicators
| FRO | USCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.36% | -66.41% | -31.95% |
Max Drawdown (1Y)Largest decline over 1 year | -21.41% | -11.19% | -10.22% |
Max Drawdown (3Y)Largest decline over 3 years | -52.04% | -12.01% | -40.03% |
Max Drawdown (5Y)Largest decline over 5 years | -52.04% | -18.84% | -33.20% |
Max Drawdown (10Y)Largest decline over 10 years | -52.04% | -45.82% | -6.22% |
Current DrawdownCurrent decline from peak | -70.70% | -6.52% | -64.18% |
Average DrawdownAverage peak-to-trough decline | -67.85% | -29.37% | -38.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.00% | 3.51% | +4.49% |
Volatility
FRO vs. USCI - Volatility Comparison
Frontline Ltd. (FRO) has a higher volatility of 18.96% compared to United States Commodity Index Fund (USCI) at 4.94%. This indicates that FRO's price experiences larger fluctuations and is considered to be riskier than USCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRO | USCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.96% | 4.94% | +14.02% |
Volatility (6M)Calculated over the trailing 6-month period | 33.34% | 14.42% | +18.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.27% | 16.91% | +26.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.84% | 18.40% | +31.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.16% | 15.88% | +35.28% |
Dividends
FRO vs. USCI - Dividend Comparison
FRO's dividend yield for the trailing twelve months is around 8.21%, while USCI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRO Frontline Ltd. | 8.21% | 4.26% | 13.74% | 14.31% | 1.24% | 0.00% | 25.72% | 0.78% | 0.00% | 6.54% | 19.83% | 1.67% |
USCI United States Commodity Index Fund | 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
FRO and USCI have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRO has higher volatility (18.96%) compared to USCI (4.94%). In terms of maximum drawdown, FRO dropped -98.36% vs USCI's -66.41%.
FRO currently has the higher Sharpe Ratio (2.98 vs 1.77), 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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