ITWO vs. BCI

Last updated Jun 23, 2026

ITWO (Proshares Russell 2000 High Income ETF) and BCI (abrdn Bloomberg All Commodity Strategy K-1 Free ETF) are both exchange-traded funds - ITWO is a Derivative Income fund tracking the Cboe Russell 2000 Daily Covered Call Index, while BCI is a Commodities fund tracking the Bloomberg Commodity Index Total Return. Both are passively managed. Over the past year, ITWO returned 43.64% vs 22.05% for BCI. At a 0.02 correlation, their price movements are largely independent. ITWO charges 0.55%/yr vs 0.26%/yr for BCI.

Performance

ITWO vs. BCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Russell 2000 High Income ETF (ITWO) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ITWO achieves a 22.52% return, which is significantly higher than BCI's 16.69% return.

ITWO

• 1D: 0.93%
• 1M: 5.32%
• YTD: 22.52%
• 6M: 18.96%
• 1Y: 43.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BCI

• 1D: -0.65%
• 1M: -8.66%
• YTD: 16.69%
• 6M: 16.52%
• 1Y: 22.05%
• 3Y*: 11.86%
• 5Y*: 9.82%
• 10Y*: —

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

ITWO vs. BCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ITWO Proshares Russell 2000 High Income ETF	22.52%	14.25%	3.10%
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	16.69%	15.07%	6.13%

Correlation

The correlation between ITWO and BCI is -0.06, 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	-0.06
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.02

Return for Risk

ITWO vs. BCI — Risk / Return Rank

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

ITWO

ITWO Risk / Return Rank: 74
ITWO Sharpe Ratio Rank: 74
ITWO Sortino Ratio Rank: 69
ITWO Omega Ratio Rank: 61
ITWO Calmar Ratio Rank: 85
ITWO Martin Ratio Rank: 79

BCI

BCI Risk / Return Rank: 38
BCI Sharpe Ratio Rank: 37
BCI Sortino Ratio Rank: 34
BCI Omega Ratio Rank: 37
BCI Calmar Ratio Rank: 38
BCI Martin Ratio Rank: 43

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.

ITWO vs. BCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Russell 2000 High Income ETF (ITWO) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI). 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.

	ITWO	BCI	Difference
Sharpe ratio: Return per unit of total volatility	2.29	1.29	+0.99
Sortino ratio: Return per unit of downside risk	3.03	1.76	+1.26
Omega ratio: Gain probability vs. loss probability	1.36	1.24	+0.13
Calmar ratio: Return relative to maximum drawdown	4.48	1.84	+2.64
Martin ratio: Return relative to average drawdown	15.02	6.82	+8.20

ITWO vs. BCI - Sharpe Ratio Comparison

The current ITWO Sharpe Ratio is 2.29, which is higher than the BCI Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of ITWO and BCI, 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

ITWO vs. BCI - Drawdown Comparison

The maximum ITWO drawdown since its inception was -24.77%, smaller than the maximum BCI drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for ITWO and BCI.

Drawdown Indicators

	ITWO	BCI	Difference
Max Drawdown Largest peak-to-trough decline	-24.77%	-32.69%	+7.92%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-12.04%	+2.25%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.04%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.50%	—
Current Drawdown Current decline from peak	0.00%	-12.04%	+12.04%
Average Drawdown Average peak-to-trough decline	-5.04%	-11.98%	+6.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	3.56%	-0.65%

Volatility

ITWO vs. BCI - Volatility Comparison

Proshares Russell 2000 High Income ETF (ITWO) has a higher volatility of 6.61% compared to abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) at 3.49%. This indicates that ITWO's price experiences larger fluctuations and is considered to be riskier than BCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITWO	BCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.61%	3.49%	+3.12%
Volatility (6M) Calculated over the trailing 6-month period	14.07%	14.94%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	19.23%	17.18%	+2.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.65%	16.79%	+3.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.65%	15.65%	+5.00%

ITWO vs. BCI - Expense Ratio Comparison

ITWO has a 0.55% expense ratio, which is higher than BCI's 0.26% expense ratio.

Dividends

ITWO vs. BCI - Dividend Comparison

ITWO's dividend yield for the trailing twelve months is around 7.27%, less than BCI's 14.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	14.13%	16.49%	3.29%	3.93%	19.98%	19.43%	0.68%	1.47%	1.13%	5.02%
ITWO Proshares Russell 2000 High Income ETF	7.27%	12.12%	4.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ITWO and BCI in my portfolio?

ITWO and BCI have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITWO or BCI?

ITWO has higher volatility (6.61%) compared to BCI (3.49%). In terms of maximum drawdown, ITWO dropped -24.77% vs BCI's -32.69%.

Which ETF is better, ITWO or BCI?

On 1-year performance, ITWO leads with 43.64% vs 22.05% for BCI. On fees, BCI is cheaper at 0.26% per year. On volatility, BCI has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ITWO or BCI?

Over the 1-year period, ITWO has performed better with a 43.64% return vs 22.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ITWO or BCI?

BCI is cheaper with a 0.26% expense ratio, compared with 0.55% for ITWO.

Which ETF pays a higher dividend yield, ITWO or BCI?

BCI has the higher dividend yield at 14.13%, compared with 7.27% for ITWO.

What is the main difference between ITWO and BCI?

ITWO is categorized as Derivative Income, while BCI is Commodities. ITWO tracks Cboe Russell 2000 Daily Covered Call Index, while BCI tracks Bloomberg Commodity Index Total Return. They also come from different issuers: ProShares and Aberdeen. Their fees differ too: 0.55% for ITWO and 0.26% for BCI.

Which has better risk-adjusted returns?

ITWO currently has the higher Sharpe Ratio (2.29 vs 1.29), 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.