ISCMF vs. DJP

Last updated Jun 24, 2026

ISCMF (iShares Diversified Commodity Swap UCITS ETF) and DJP (iPath Bloomberg Commodity Index Total Return ETN) are both Commodities funds tracking the Bloomberg Commodity Index, from iShares and Barclays Capital respectively. Both are passively managed. Over the past 3 years, ISCMF returned 16.78%/yr vs 12.62%/yr for DJP. At a 0.07 correlation, their price movements are largely independent. ISCMF charges 0.19%/yr vs 0.70%/yr for DJP.

Performance

ISCMF vs. DJP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Diversified Commodity Swap UCITS ETF (ISCMF) and iPath Bloomberg Commodity Index Total Return ETN (DJP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISCMF achieves a 22.87% return, which is significantly higher than DJP's 17.18% return.

ISCMF

• 1D: 0.00%
• 1M: -4.99%
• YTD: 22.87%
• 6M: 22.87%
• 1Y: 31.30%
• 3Y*: 16.78%
• 5Y*: —
• 10Y*: —

DJP

• 1D: -1.45%
• 1M: -10.97%
• YTD: 17.18%
• 6M: 15.04%
• 1Y: 26.02%
• 3Y*: 12.62%
• 5Y*: 10.72%
• 10Y*: 6.24%

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

ISCMF vs. DJP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ISCMF iShares Diversified Commodity Swap UCITS ETF	22.87%	19.65%	3.13%	-9.58%	-5.82%
DJP iPath Bloomberg Commodity Index Total Return ETN	17.18%	17.20%	5.59%	-9.85%	-3.96%

Correlation

The correlation between ISCMF and DJP is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022	0.07

Return for Risk

ISCMF vs. DJP — Risk / Return Rank

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

ISCMF

ISCMF Risk / Return Rank: 78
ISCMF Sharpe Ratio Rank: 56
ISCMF Sortino Ratio Rank: 77
ISCMF Omega Ratio Rank: 98
ISCMF Calmar Ratio Rank: 92
ISCMF Martin Ratio Rank: 69

DJP

DJP Risk / Return Rank: 40
DJP Sharpe Ratio Rank: 40
DJP Sortino Ratio Rank: 37
DJP Omega Ratio Rank: 40
DJP Calmar Ratio Rank: 37
DJP Martin Ratio Rank: 45

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.

ISCMF vs. DJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Commodity Swap UCITS ETF (ISCMF) and iPath Bloomberg Commodity Index Total Return ETN (DJP). 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.

	ISCMF	DJP	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.37	+0.39
Sortino ratio: Return per unit of downside risk	3.18	1.85	+1.33
Omega ratio: Gain probability vs. loss probability	2.31	1.25	+1.06
Calmar ratio: Return relative to maximum drawdown	5.53	1.78	+3.75
Martin ratio: Return relative to average drawdown	11.85	6.99	+4.86

ISCMF vs. DJP - Sharpe Ratio Comparison

The current ISCMF Sharpe Ratio is 1.76, which is comparable to the DJP Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of ISCMF and DJP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ISCMF vs. DJP - Drawdown Comparison

The maximum ISCMF drawdown since its inception was -25.42%, smaller than the maximum DJP drawdown of -78.35%. Use the drawdown chart below to compare losses from any high point for ISCMF and DJP.

Drawdown Indicators

	ISCMF	DJP	Difference
Max Drawdown Largest peak-to-trough decline	-25.42%	-78.35%	+52.93%
Max Drawdown (1Y) Largest decline over 1 year	-5.69%	-14.66%	+8.97%
Max Drawdown (3Y) Largest decline over 3 years	-7.62%	-14.66%	+7.04%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.36%	—
Current Drawdown Current decline from peak	-5.26%	-39.74%	+34.48%
Average Drawdown Average peak-to-trough decline	-13.35%	-50.82%	+37.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	3.76%	-1.11%

Volatility

ISCMF vs. DJP - Volatility Comparison

iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a higher volatility of 5.11% compared to iPath Bloomberg Commodity Index Total Return ETN (DJP) at 4.23%. This indicates that ISCMF's price experiences larger fluctuations and is considered to be riskier than DJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISCMF	DJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	4.23%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	15.45%	16.88%	-1.43%
Volatility (1Y) Calculated over the trailing 1-year period	17.84%	19.24%	-1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.29%	18.95%	-4.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.29%	17.06%	-2.77%

ISCMF vs. DJP - Expense Ratio Comparison

ISCMF has a 0.19% expense ratio, which is lower than DJP's 0.70% expense ratio.

Dividends

ISCMF vs. DJP - Dividend Comparison

Neither ISCMF nor DJP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ISCMF and DJP in my portfolio?

ISCMF and DJP have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISCMF or DJP?

ISCMF has higher volatility (5.11%) compared to DJP (4.23%). In terms of maximum drawdown, ISCMF dropped -25.42% vs DJP's -78.35%.

Which ETF is better, ISCMF or DJP?

On 3-year performance, ISCMF leads with 16.78% vs 12.62% for DJP. On fees, ISCMF is cheaper at 0.19% per year. On volatility, DJP has been the lower-risk option at 4.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISCMF or DJP?

Over the 3-year period, ISCMF has performed better with a 16.78% return vs 12.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISCMF or DJP?

ISCMF is cheaper with a 0.19% expense ratio, compared with 0.70% for DJP.

Which ETF pays a higher dividend yield, ISCMF or DJP?

ISCMF and DJP have nearly identical dividend yields, around 0.00%.

What is the main difference between ISCMF and DJP?

Both ETFs track Bloomberg Commodity Index. They also come from different issuers: iShares and Barclays Capital. Their fees differ too: 0.19% for ISCMF and 0.70% for DJP.

Which has better risk-adjusted returns?

ISCMF currently has the higher Sharpe Ratio (1.76 vs 1.37), 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.