ISCMF vs. EVSM
ISCMF (iShares Diversified Commodity Swap UCITS ETF) and EVSM (Eaton Vance Short Duration Municipal Income ETF) are both exchange-traded funds - ISCMF is a Commodities fund tracking the Bloomberg Commodity Index, while EVSM is a Municipal Bonds fund tracking the ICE BofA 1-3 Year Municipal Securities Index. Both are passively managed. Over the past year, ISCMF returned 37.85% vs 4.06% for EVSM. At a correlation of -0.04, they often move in opposite directions. Both charge a 0.19% expense ratio.
Performance
ISCMF vs. EVSM - Performance Comparison
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Returns By Period
In the year-to-date period, ISCMF achieves a 22.87% return, which is significantly higher than EVSM's 1.15% return.
ISCMF
- 1D
- 0.00%
- 1M
- -0.67%
- YTD
- 22.87%
- 6M
- 27.76%
- 1Y
- 37.85%
- 3Y*
- 15.20%
- 5Y*
- —
- 10Y*
- —
EVSM
- 1D
- 0.06%
- 1M
- 0.42%
- YTD
- 1.15%
- 6M
- 1.48%
- 1Y
- 4.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ISCMF vs. EVSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ISCMF iShares Diversified Commodity Swap UCITS ETF | 22.87% | 19.65% | 1.09% |
EVSM Eaton Vance Short Duration Municipal Income ETF | 1.15% | 4.24% | 2.52% |
Correlation
The correlation between ISCMF and EVSM is -0.18, 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 | -0.18 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2024 | -0.04 |
The correlation between ISCMF and EVSM shifts across timeframes, from -0.18 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ISCMF vs. EVSM — Risk / Return Rank
ISCMF
EVSM
ISCMF vs. EVSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Commodity Swap UCITS ETF (ISCMF) and Eaton Vance Short Duration Municipal Income ETF (EVSM). 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.
| ISCMF | EVSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.40 | ||
| Omega ratioGain probability vs. loss probability | 2.53 | 1.70 | +0.83 |
| Calmar ratioReturn relative to maximum drawdown | 6.69 | 3.79 | +2.89 |
| Martin ratioReturn relative to average drawdown | 15.68 | 13.52 | +2.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ISCMF | EVSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 3.23 | -1.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 1.89 | -1.44 |
Drawdowns
ISCMF vs. EVSM - Drawdown Comparison
The maximum ISCMF drawdown since its inception was -25.42%, which is greater than EVSM's maximum drawdown of -1.50%. Use the drawdown chart below to compare losses from any high point for ISCMF and EVSM.
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Drawdown Indicators
| ISCMF | EVSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.42% | -1.50% | -23.92% |
Max Drawdown (1Y)Largest decline over 1 year | -5.69% | -1.07% | -4.62% |
Max Drawdown (3Y)Largest decline over 3 years | -7.62% | — | — |
Current DrawdownCurrent decline from peak | -5.26% | -0.06% | -5.20% |
Average DrawdownAverage peak-to-trough decline | -13.43% | -0.24% | -13.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 0.30% | +2.12% |
Volatility
ISCMF vs. EVSM - Volatility Comparison
iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a higher volatility of 7.14% compared to Eaton Vance Short Duration Municipal Income ETF (EVSM) at 0.33%. This indicates that ISCMF's price experiences larger fluctuations and is considered to be riskier than EVSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISCMF | EVSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.14% | 0.33% | +6.81% |
Volatility (6M)Calculated over the trailing 6-month period | 15.90% | 0.83% | +15.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.53% | 1.27% | +17.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.38% | 1.92% | +12.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.38% | 1.92% | +12.46% |
ISCMF vs. EVSM - Expense Ratio Comparison
Both ISCMF and EVSM have an expense ratio of 0.19%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ISCMF vs. EVSM - Dividend Comparison
ISCMF has not paid dividends to shareholders, while EVSM's dividend yield for the trailing twelve months is around 3.00%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
EVSM Eaton Vance Short Duration Municipal Income ETF | 3.00% | 3.12% | 2.99% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ISCMF and EVSM have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISCMF has higher volatility (7.14%) compared to EVSM (0.33%). In terms of maximum drawdown, ISCMF dropped -25.42% vs EVSM's -1.50%.
On 1-year performance, ISCMF leads with 37.85% vs 4.06% for EVSM. Both ETFs have the same 0.19% expense ratio. On volatility, EVSM has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ISCMF has performed better with a 37.85% return vs 4.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISCMF and EVSM have the same expense ratio: 0.19% per year.
EVSM has the higher dividend yield at 3.00%, compared with 0.00% for ISCMF.
ISCMF is categorized as Commodities, while EVSM is Municipal Bonds. ISCMF tracks Bloomberg Commodity Index, while EVSM tracks ICE BofA 1-3 Year Municipal Securities Index. They also come from different issuers: iShares and Eaton Vance.
EVSM currently has the higher Sharpe Ratio (3.23 vs 2.05), 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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