ISCMF vs. SDCI

Last updated Jun 4, 2026

ISCMF (iShares Diversified Commodity Swap UCITS ETF) and SDCI (USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund) are both Commodities funds. ISCMF is passively managed, while SDCI is actively managed. Over the past 3 years, ISCMF returned 15.20%/yr vs 23.74%/yr for SDCI. At a 0.09 correlation, their price movements are largely independent. ISCMF charges 0.19%/yr vs 0.70%/yr for SDCI.

Performance

ISCMF vs. SDCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Diversified Commodity Swap UCITS ETF (ISCMF) and USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI). 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 lower than SDCI's 28.92% return.

ISCMF

• 1D: 0.00%
• 1M: -0.67%
• YTD: 22.87%
• 6M: 27.76%
• 1Y: 37.85%
• 3Y*: 15.20%
• 5Y*: —
• 10Y*: —

SDCI

• 1D: 0.18%
• 1M: -1.11%
• YTD: 28.92%
• 6M: 26.57%
• 1Y: 40.79%
• 3Y*: 23.74%
• 5Y*: 20.15%
• 10Y*: —

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

ISCMF vs. SDCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ISCMF iShares Diversified Commodity Swap UCITS ETF	22.87%	19.65%	3.13%	-9.58%	-5.08%
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund	28.92%	17.60%	17.91%	-0.88%	6.75%

Correlation

The correlation between ISCMF and SDCI is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022	0.09

Return for Risk

ISCMF vs. SDCI — Risk / Return Rank

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

ISCMF

ISCMF Risk / Return Rank: 83
ISCMF Sharpe Ratio Rank: 61
ISCMF Sortino Ratio Rank: 83
ISCMF Omega Ratio Rank: 99
ISCMF Calmar Ratio Rank: 93
ISCMF Martin Ratio Rank: 80

SDCI

SDCI Risk / Return Rank: 74
SDCI Sharpe Ratio Rank: 74
SDCI Sortino Ratio Rank: 66
SDCI Omega Ratio Rank: 66
SDCI Calmar Ratio Rank: 83
SDCI Martin Ratio Rank: 81

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. SDCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Commodity Swap UCITS ETF (ISCMF) 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.

	ISCMF	SDCI	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.44	-0.39
Sortino ratio: Return per unit of downside risk	3.74	3.10	+0.64
Omega ratio: Gain probability vs. loss probability	2.53	1.41	+1.12
Calmar ratio: Return relative to maximum drawdown	6.69	4.53	+2.15
Martin ratio: Return relative to average drawdown	15.68	16.31	-0.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISCMF vs. SDCI - Sharpe Ratio Comparison

The current ISCMF Sharpe Ratio is 2.05, which is comparable to the SDCI Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of ISCMF and SDCI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ISCMF	SDCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	2.44	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.68	-0.23

Drawdowns

ISCMF vs. SDCI - Drawdown Comparison

The maximum ISCMF drawdown since its inception was -25.42%, smaller than the maximum SDCI drawdown of -45.79%. Use the drawdown chart below to compare losses from any high point for ISCMF and SDCI.

Drawdown Indicators

	ISCMF	SDCI	Difference
Max Drawdown Largest peak-to-trough decline	-25.42%	-45.79%	+20.37%
Max Drawdown (1Y) Largest decline over 1 year	-5.69%	-9.04%	+3.35%
Max Drawdown (3Y) Largest decline over 3 years	-7.62%	-11.96%	+4.34%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.55%	—
Current Drawdown Current decline from peak	-5.26%	-3.04%	-2.22%
Average Drawdown Average peak-to-trough decline	-13.43%	-11.58%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	2.51%	-0.09%

Volatility

ISCMF vs. SDCI - Volatility Comparison

iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a higher volatility of 7.14% compared to USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) at 4.61%. This indicates that ISCMF's price experiences larger fluctuations and is considered to be riskier than SDCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISCMF	SDCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.14%	4.61%	+2.53%
Volatility (6M) Calculated over the trailing 6-month period	15.90%	14.15%	+1.75%
Volatility (1Y) Calculated over the trailing 1-year period	18.53%	16.83%	+1.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.38%	18.46%	-4.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.38%	17.08%	-2.70%

ISCMF vs. SDCI - Expense Ratio Comparison

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

Dividends

ISCMF vs. SDCI - Dividend Comparison

ISCMF has not paid dividends to shareholders, while SDCI's dividend yield for the trailing twelve months is around 2.85%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ISCMF iShares Diversified Commodity Swap UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund	2.85%	3.68%	5.92%	3.46%	33.49%	19.26%	0.20%	0.93%	0.68%

Frequently Asked Questions

Can I hold both ISCMF and SDCI in my portfolio?

ISCMF and SDCI have a correlation of 0.13, 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 SDCI?

ISCMF has higher volatility (7.14%) compared to SDCI (4.61%). In terms of maximum drawdown, ISCMF dropped -25.42% vs SDCI's -45.79%.

Which ETF is better, ISCMF or SDCI?

On 3-year performance, SDCI leads with 23.74% vs 15.20% for ISCMF. On fees, ISCMF is cheaper at 0.19% per year. On volatility, SDCI has been the lower-risk option at 4.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISCMF or SDCI?

Over the 3-year period, SDCI has performed better with a 23.74% return vs 15.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISCMF or SDCI?

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

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

SDCI has the higher dividend yield at 2.85%, compared with 0.00% for ISCMF.

What is the main difference between ISCMF and SDCI?

They also come from different issuers: iShares and Wainwright, Inc.. Their fees differ too: 0.19% for ISCMF and 0.70% for SDCI.

Which has better risk-adjusted returns?

SDCI currently has the higher Sharpe Ratio (2.44 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.