ISCMF vs. TLT
ISCMF (iShares Diversified Commodity Swap UCITS ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - ISCMF is a Commodities fund tracking the Bloomberg Commodity Index, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 3 years, ISCMF returned 10.24%/yr vs -1.15%/yr for TLT. Their -0.01 correlation means they have often moved in opposite directions in the past. ISCMF charges 0.19%/yr vs 0.15%/yr for TLT.
Performance
ISCMF vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, ISCMF achieves a 11.96% return, which is significantly higher than TLT's -3.18% return.
ISCMF
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.00%
- YTD
- 11.96%
- 1Y
- 21.66%
- 3Y*
- 10.24%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.78%
TLT
- 1D
- 0.33%
- 1M
- -3.49%
- 6M
- -2.86%
- YTD
- -3.18%
- 1Y
- -2.12%
- 3Y*
- -1.15%
- 5Y*
- -8.33%
- 10Y*
- -2.33%
- ALL TIME*
- 3.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $8.28K | $54.64K | |
| $2.39B | $2.06B | $2.20B |
ISCMF vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ISCMF iShares Diversified Commodity Swap UCITS ETF | 11.96% | 19.65% | 3.13% | -9.58% | -5.82% |
TLT iShares 20+ Year Treasury Bond ETF | -3.18% | 4.25% | -8.05% | 2.77% | -23.48% |
Correlation
The correlation between ISCMF and TLT is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.05 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | -0.01 |
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Return for Risk
ISCMF vs. TLT — Risk / Return Rank
ISCMF
TLT
ISCMF vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Commodity Swap UCITS ETF (ISCMF) and iShares 20+ Year Treasury Bond ETF (TLT). 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 | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.34 | ||
| Sortino ratioReturn per unit of downside risk | +2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.81 | 0.97 | +0.84 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | -0.28 | +1.87 |
| Martin ratioReturn relative to average drawdown | 4.71 | -0.59 | +5.30 |
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Drawdowns
ISCMF vs. TLT - Drawdown Comparison
The maximum ISCMF drawdown since its inception was -25.42%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for ISCMF and TLT.
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Drawdown Indicators
| ISCMF | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.42% | -48.35% | +22.93% |
Max Drawdown (1Y)Largest decline over 1 year | -13.68% | -7.74% | -5.94% |
Max Drawdown (3Y)Largest decline over 3 years | -13.68% | -14.79% | +1.11% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -13.68% | -42.17% | +28.49% |
Average DrawdownAverage peak-to-trough decline | -13.31% | -14.00% | +0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 3.60% | +1.01% |
Volatility
ISCMF vs. TLT - Volatility Comparison
The current volatility for iShares Diversified Commodity Swap UCITS ETF (ISCMF) is 0.00%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 2.51%. This indicates that ISCMF experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISCMF | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 2.51% | -2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 17.04% | 6.84% | +10.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.61% | 9.24% | +10.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.74% | 15.74% | -1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.74% | 14.83% | -0.09% |
ISCMF vs. TLT - Expense Ratio Comparison
ISCMF has a 0.19% expense ratio, which is higher than TLT's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ISCMF vs. TLT - Dividend Comparison
ISCMF has not paid dividends to shareholders, while TLT's dividend yield for the trailing twelve months is around 4.75%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.75% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
ISCMF and TLT have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.51%) compared to ISCMF (0.00%). In terms of maximum drawdown, ISCMF dropped -25.42% vs TLT's -48.35%.
On 3-year performance, ISCMF leads with 10.24% vs -1.15% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, ISCMF has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ISCMF has performed better with a 10.24% return vs -1.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.19% for ISCMF.
TLT has the higher dividend yield at 4.75%, compared with 0.00% for ISCMF.
ISCMF is categorized as Commodities, while TLT is Government Bonds. ISCMF tracks Bloomberg Commodity Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.19% for ISCMF and 0.15% for TLT.
ISCMF currently has the higher Sharpe Ratio (1.11 vs -0.23), 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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