IXC vs. USCI
IXC (iShares Global Energy ETF) and USCI (United States Commodity Index Fund) are both exchange-traded funds - IXC is a Energy Equities fund tracking the S&P Global 1200 Energy Capped Index, while USCI is a Commodities fund tracking the SummerHaven Dynamic Commodity Index Total Return. Both are passively managed. Over the past 10 years, IXC returned 8.83%/yr vs 8.41%/yr for USCI. A 0.55 correlation means they provide meaningful diversification when combined. IXC charges 0.40%/yr vs 1.03%/yr for USCI.
Performance
IXC vs. USCI - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IXC having a 23.35% return and USCI slightly higher at 23.68%. Both investments have delivered pretty close results over the past 10 years, with IXC having a 8.83% annualized return and USCI not far behind at 8.41%.
IXC
- 1D
- 0.51%
- 1M
- -4.24%
- 6M
- 20.68%
- YTD
- 23.35%
- 1Y
- 29.02%
- 3Y*
- 14.69%
- 5Y*
- 18.91%
- 10Y*
- 8.83%
USCI
- 1D
- -0.50%
- 1M
- -0.05%
- 6M
- 22.70%
- YTD
- 23.68%
- 1Y
- 28.10%
- 3Y*
- 20.39%
- 5Y*
- 19.25%
- 10Y*
- 8.41%
IXC vs. USCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IXC iShares Global Energy ETF | 23.35% | 13.98% | 1.95% | 3.92% | 48.51% | 40.88% | -31.00% | 12.67% | -14.85% | 5.54% |
USCI United States Commodity Index Fund | 23.68% | 17.63% | 17.24% | -0.00% | 29.47% | 33.07% | -11.47% | -1.68% | -11.76% | 6.32% |
Correlation
The correlation between IXC and USCI is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2010 | 0.55 |
The correlation between IXC and USCI has been stable across timeframes, ranging from 0.55 to 0.62 - a consistent structural relationship.
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Return for Risk
IXC vs. USCI — Risk / Return Rank
IXC
USCI
IXC vs. USCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Energy ETF (IXC) and United States Commodity Index Fund (USCI). 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.
| IXC | USCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.30 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 2.67 | -0.72 |
| Martin ratioReturn relative to average drawdown | 6.26 | 8.50 | -2.23 |
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Drawdowns
IXC vs. USCI - Drawdown Comparison
The maximum IXC drawdown since its inception was -67.88%, roughly equal to the maximum USCI drawdown of -66.41%. Use the drawdown chart below to compare losses from any high point for IXC and USCI.
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Drawdown Indicators
| IXC | USCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.88% | -66.41% | -1.47% |
Max Drawdown (1Y)Largest decline over 1 year | -15.36% | -11.19% | -4.17% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -12.01% | -7.05% |
Max Drawdown (5Y)Largest decline over 5 years | -24.93% | -18.84% | -6.09% |
Max Drawdown (10Y)Largest decline over 10 years | -64.16% | -45.82% | -18.34% |
Current DrawdownCurrent decline from peak | -11.22% | -6.52% | -4.70% |
Average DrawdownAverage peak-to-trough decline | -17.45% | -29.37% | +11.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.78% | 3.51% | +1.27% |
Volatility
IXC vs. USCI - Volatility Comparison
iShares Global Energy ETF (IXC) has a higher volatility of 6.59% compared to United States Commodity Index Fund (USCI) at 4.94%. This indicates that IXC's price experiences larger fluctuations and is considered to be riskier than USCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IXC | USCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.59% | 4.94% | +1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 15.86% | 14.42% | +1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.18% | 16.91% | +2.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.45% | 18.40% | +5.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.81% | 15.88% | +10.93% |
IXC vs. USCI - Expense Ratio Comparison
IXC has a 0.40% expense ratio, which is lower than USCI's 1.03% expense ratio.
Dividends
IXC vs. USCI - Dividend Comparison
IXC's dividend yield for the trailing twelve months is around 3.08%, while USCI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IXC iShares Global Energy ETF | 3.08% | 3.68% | 4.56% | 3.45% | 4.76% | 3.98% | 4.86% | 7.00% | 3.51% | 3.05% | 2.86% | 3.77% |
USCI United States Commodity Index Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IXC and USCI have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IXC has higher volatility (6.59%) compared to USCI (4.94%). In terms of maximum drawdown, IXC dropped -67.88% vs USCI's -66.41%.
On 10-year performance, IXC leads with 8.83% vs 8.41% for USCI. On fees, IXC is cheaper at 0.40% per year. On volatility, USCI has been the lower-risk option at 4.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IXC has performed better with a 8.83% return vs 8.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IXC is cheaper with a 0.40% expense ratio, compared with 1.03% for USCI.
IXC has the higher dividend yield at 3.08%, compared with 0.00% for USCI.
IXC is categorized as Energy Equities, while USCI is Commodities. IXC tracks S&P Global 1200 Energy Capped Index, while USCI tracks SummerHaven Dynamic Commodity Index Total Return. They also come from different issuers: iShares and United States Commodity Funds. Their fees differ too: 0.40% for IXC and 1.03% for USCI.
USCI currently has the higher Sharpe Ratio (1.77 vs 1.56), 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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