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 16.78%/yr vs -1.89%/yr for TLT. At a correlation of -0.01, they often move in opposite directions. 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 22.87% return, which is significantly higher than TLT's 0.77% return.
ISCMF
- 1D
- 0.00%
- 1M
- -4.99%
- YTD
- 22.87%
- 6M
- 22.87%
- 1Y
- 31.30%
- 3Y*
- 16.78%
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- 0.13%
- 1M
- 2.20%
- YTD
- 0.77%
- 6M
- 0.38%
- 1Y
- 3.87%
- 3Y*
- -1.89%
- 5Y*
- -6.59%
- 10Y*
- -1.74%
ISCMF vs. TLT - 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% |
TLT iShares 20+ Year Treasury Bond ETF | 0.77% | 4.25% | -8.05% | 2.77% | -23.48% |
Correlation
The correlation between ISCMF and TLT is -0.08, 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 (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
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 | +1.35 | ||
| Sortino ratioReturn per unit of downside risk | +2.52 | ||
| Omega ratioGain probability vs. loss probability | 2.31 | 1.07 | +1.24 |
| Calmar ratioReturn relative to maximum drawdown | 5.53 | 0.51 | +5.02 |
| Martin ratioReturn relative to average drawdown | 11.85 | 1.22 | +10.63 |
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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 | -5.69% | -7.58% | +1.89% |
Max Drawdown (3Y)Largest decline over 3 years | -7.62% | -19.18% | +11.56% |
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 | -5.26% | -39.82% | +34.56% |
Average DrawdownAverage peak-to-trough decline | -13.35% | -13.87% | +0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 3.18% | -0.53% |
Volatility
ISCMF vs. TLT - Volatility Comparison
iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a higher volatility of 5.11% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.20%. This indicates that ISCMF's price experiences larger fluctuations and is considered to be riskier 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 | 5.11% | 2.20% | +2.91% |
Volatility (6M)Calculated over the trailing 6-month period | 15.45% | 6.62% | +8.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.84% | 9.48% | +8.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.29% | 15.82% | -1.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.29% | 14.88% | -0.59% |
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 4.54%.
| 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 | 4.54% | 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 -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISCMF has higher volatility (5.11%) compared to TLT (2.20%). In terms of maximum drawdown, ISCMF dropped -25.42% vs TLT's -48.35%.
On 3-year performance, ISCMF leads with 16.78% vs -1.89% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.20%. 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 16.78% return vs -1.89%. 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 4.54%, 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 (1.76 vs 0.41), 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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