HOLA vs. USCI

Last updated Jun 26, 2026

HOLA (JPMorgan International Hedged Equity Laddered Overlay ETF) and USCI (United States Commodity Index Fund) are both exchange-traded funds - HOLA is a Equity Hedged fund actively managed by JPMorgan, while USCI is a Commodities fund tracking the SummerHaven Dynamic Commodity (TR). HOLA is actively managed, while USCI is passively managed. At a correlation of -0.06, they often move in opposite directions. HOLA charges 0.50%/yr vs 1.03%/yr for USCI.

Performance

HOLA vs. USCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA) and United States Commodity Index Fund (USCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOLA achieves a 5.58% return, which is significantly lower than USCI's 19.39% return.

HOLA

• 1D: 0.53%
• 1M: 1.31%
• YTD: 5.58%
• 6M: 4.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

USCI

• 1D: 1.60%
• 1M: -6.12%
• YTD: 19.39%
• 6M: 17.45%
• 1Y: 27.31%
• 3Y*: 19.78%
• 5Y*: 18.55%
• 10Y*: 8.14%

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

HOLA vs. USCI - Yearly Performance Comparison

	2026 (YTD)	2025
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF	5.58%	7.60%
USCI United States Commodity Index Fund	19.39%	3.57%

Correlation

The correlation between HOLA and USCI is -0.06, 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 (All Time) Calculated using the full available price history since Jul 14, 2025	-0.06

Return for Risk

HOLA vs. USCI — Risk / Return Rank

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

HOLA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

USCI

USCI Risk / Return Rank: 55
USCI Sharpe Ratio Rank: 56
USCI Sortino Ratio Rank: 52
USCI Omega Ratio Rank: 51
USCI Calmar Ratio Rank: 57
USCI Martin Ratio Rank: 58

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.

HOLA vs. USCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA) 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.

	HOLA	USCI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.65	—
Sortino ratio: Return per unit of downside risk	—	2.23	—
Omega ratio: Gain probability vs. loss probability	—	1.28	—
Calmar ratio: Return relative to maximum drawdown	—	2.45	—
Martin ratio: Return relative to average drawdown	—	8.98	—

Drawdowns

HOLA vs. USCI - Drawdown Comparison

The maximum HOLA drawdown since its inception was -6.99%, smaller than the maximum USCI drawdown of -66.41%. Use the drawdown chart below to compare losses from any high point for HOLA and USCI.

Drawdown Indicators

	HOLA	USCI	Difference
Max Drawdown Largest peak-to-trough decline	-6.99%	-66.41%	+59.42%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.19%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.82%	—
Current Drawdown Current decline from peak	-0.86%	-9.77%	+8.91%
Average Drawdown Average peak-to-trough decline	-1.44%	-29.42%	+27.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.05%	—

Volatility

Volatility by Period

	HOLA	USCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.83%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.92%	16.64%	-6.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.92%	18.37%	-8.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.92%	15.85%	-5.93%

HOLA vs. USCI - Expense Ratio Comparison

HOLA has a 0.50% expense ratio, which is lower than USCI's 1.03% expense ratio.

Dividends

HOLA vs. USCI - Dividend Comparison

HOLA's dividend yield for the trailing twelve months is around 2.86%, while USCI has not paid dividends to shareholders.

Position	TTM	2025
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF	2.86%	3.02%
USCI United States Commodity Index Fund	0.00%	0.00%

Frequently Asked Questions

Can I hold both HOLA and USCI in my portfolio?

HOLA and USCI have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HOLA or USCI?

On fees, HOLA is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HOLA or USCI?

HOLA is cheaper with a 0.50% expense ratio, compared with 1.03% for USCI.

Which ETF pays a higher dividend yield, HOLA or USCI?

HOLA has the higher dividend yield at 2.86%, compared with 0.00% for USCI.

What is the main difference between HOLA and USCI?

HOLA is categorized as Equity Hedged, while USCI is Commodities. They also come from different issuers: JPMorgan and Concierge Technologies. Their fees differ too: 0.50% for HOLA and 1.03% for USCI.