M9SA.DE vs. EXXY.DE
M9SA.DE (Market Access Rogers International Commodity UCITS ETF) and EXXY.DE (iShares Diversified Commodity Swap UCITS ETF (DE)) are both Commodities funds - M9SA.DE tracks the Rogers International Commodity (RICI) while EXXY.DE tracks the Bloomberg Commodity. Both are passively managed. Over the past 10 years, M9SA.DE returned 7.64%/yr vs 5.66%/yr for EXXY.DE. Their correlation of 0.83 suggests significant overlap in exposure. M9SA.DE charges 0.60%/yr vs 0.46%/yr for EXXY.DE.
Performance
M9SA.DE vs. EXXY.DE - Performance Comparison
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Returns By Period
In the year-to-date period, M9SA.DE achieves a 32.08% return, which is significantly higher than EXXY.DE's 23.43% return. Over the past 10 years, M9SA.DE has outperformed EXXY.DE with an annualized return of 7.64%, while EXXY.DE has yielded a comparatively lower 5.66% annualized return.
M9SA.DE
- 1D
- -1.46%
- 1M
- -3.15%
- YTD
- 32.08%
- 6M
- 32.39%
- 1Y
- 39.29%
- 3Y*
- 12.05%
- 5Y*
- 13.63%
- 10Y*
- 7.64%
EXXY.DE
- 1D
- -1.47%
- 1M
- -3.12%
- YTD
- 23.43%
- 6M
- 24.08%
- 1Y
- 33.97%
- 3Y*
- 11.64%
- 5Y*
- 11.46%
- 10Y*
- 5.66%
M9SA.DE vs. EXXY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
M9SA.DE Market Access Rogers International Commodity UCITS ETF | 32.08% | -4.38% | 10.96% | -8.16% | 23.00% | 52.58% | -18.26% | 13.66% | -5.52% | -10.12% |
EXXY.DE iShares Diversified Commodity Swap UCITS ETF (DE) | 23.43% | 3.90% | 10.13% | -10.90% | 21.43% | 38.49% | -14.34% | 8.73% | -6.18% | -12.20% |
Correlation
The correlation between M9SA.DE and EXXY.DE is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2007 | 0.83 |
The correlation between M9SA.DE and EXXY.DE has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.
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Return for Risk
M9SA.DE vs. EXXY.DE — Risk / Return Rank
M9SA.DE
EXXY.DE
M9SA.DE vs. EXXY.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Market Access Rogers International Commodity UCITS ETF (M9SA.DE) and iShares Diversified Commodity Swap UCITS ETF (DE) (EXXY.DE). 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.
| M9SA.DE | EXXY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.32 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.36 | 3.78 | +0.58 |
| Martin ratioReturn relative to average drawdown | 8.24 | 8.41 | -0.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| M9SA.DE | EXXY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 1.78 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.65 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.37 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.02 | +0.05 |
Drawdowns
M9SA.DE vs. EXXY.DE - Drawdown Comparison
The maximum M9SA.DE drawdown since its inception was -68.53%, roughly equal to the maximum EXXY.DE drawdown of -65.58%. Use the drawdown chart below to compare losses from any high point for M9SA.DE and EXXY.DE.
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Drawdown Indicators
| M9SA.DE | EXXY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.53% | -65.58% | -2.95% |
Max Drawdown (1Y)Largest decline over 1 year | -8.98% | -8.95% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -17.75% | -16.31% | -1.44% |
Max Drawdown (5Y)Largest decline over 5 years | -27.06% | -28.03% | +0.97% |
Max Drawdown (10Y)Largest decline over 10 years | -42.54% | -33.54% | -9.00% |
Current DrawdownCurrent decline from peak | -5.62% | -16.97% | +11.35% |
Average DrawdownAverage peak-to-trough decline | -33.68% | -40.08% | +6.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.76% | 4.03% | +0.73% |
Volatility
M9SA.DE vs. EXXY.DE - Volatility Comparison
Market Access Rogers International Commodity UCITS ETF (M9SA.DE) and iShares Diversified Commodity Swap UCITS ETF (DE) (EXXY.DE) have volatilities of 6.09% and 5.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| M9SA.DE | EXXY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.09% | 5.99% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 19.44% | 16.80% | +2.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.09% | 18.98% | +3.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.25% | 17.55% | +1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.11% | 15.32% | +2.79% |
M9SA.DE vs. EXXY.DE - Expense Ratio Comparison
M9SA.DE has a 0.60% expense ratio, which is higher than EXXY.DE's 0.46% expense ratio.
Dividends
M9SA.DE vs. EXXY.DE - Dividend Comparison
Neither M9SA.DE nor EXXY.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.90, M9SA.DE and EXXY.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, EXXY.DE is cheaper at 0.46% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXXY.DE is cheaper with a 0.46% expense ratio, compared with 0.60% for M9SA.DE.
M9SA.DE tracks Rogers International Commodity (RICI), while EXXY.DE tracks Bloomberg Commodity. They also come from different issuers: China Post Global and iShares. Their fees differ too: 0.60% for M9SA.DE and 0.46% for EXXY.DE.
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