MCSTX vs. DBCMX

Last updated Jun 24, 2026

MCSTX (MFS Commodity Strategy Fund Class R4) and DBCMX (DoubleLine Strategic Commodity Fund) are both Commodities funds. Over the past 5 years, MCSTX returned 10.34%/yr vs 8.55%/yr for DBCMX. A 0.76 correlation means they provide meaningful diversification when combined. MCSTX charges 0.91%/yr vs 1.02%/yr for DBCMX.

Performance

MCSTX vs. DBCMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Commodity Strategy Fund Class R4 (MCSTX) and DoubleLine Strategic Commodity Fund (DBCMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCSTX achieves a 15.24% return, which is significantly lower than DBCMX's 20.78% return.

MCSTX

• 1D: -0.95%
• 1M: -7.56%
• YTD: 15.24%
• 6M: 13.97%
• 1Y: 24.92%
• 3Y*: 13.30%
• 5Y*: 10.34%
• 10Y*: —

DBCMX

• 1D: -0.46%
• 1M: -7.14%
• YTD: 20.78%
• 6M: 21.71%
• 1Y: 25.98%
• 3Y*: 9.70%
• 5Y*: 8.55%
• 10Y*: 6.39%

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

MCSTX vs. DBCMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MCSTX MFS Commodity Strategy Fund Class R4	15.24%	18.51%	5.09%	-6.15%	13.37%	27.60%	-0.21%	-1.04%
DBCMX DoubleLine Strategic Commodity Fund	20.78%	6.10%	0.45%	-3.96%	13.40%	31.24%	-6.07%	-4.66%

Correlation

The correlation between MCSTX and DBCMX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Mar 20, 2019	0.76

The correlation between MCSTX and DBCMX has been stable across timeframes, ranging from 0.76 to 0.78 - a consistent structural relationship.

Return for Risk

MCSTX vs. DBCMX — Risk / Return Rank

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

MCSTX

MCSTX Risk / Return Rank: 34
MCSTX Sharpe Ratio Rank: 31
MCSTX Sortino Ratio Rank: 26
MCSTX Omega Ratio Rank: 30
MCSTX Calmar Ratio Rank: 39
MCSTX Martin Ratio Rank: 42

DBCMX

DBCMX Risk / Return Rank: 46
DBCMX Sharpe Ratio Rank: 42
DBCMX Sortino Ratio Rank: 39
DBCMX Omega Ratio Rank: 39
DBCMX Calmar Ratio Rank: 46
DBCMX Martin Ratio Rank: 60

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.

MCSTX vs. DBCMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Commodity Strategy Fund Class R4 (MCSTX) and DoubleLine Strategic Commodity Fund (DBCMX). 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.

	MCSTX	DBCMX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.77	-0.29
Sortino ratio: Return per unit of downside risk	1.97	2.42	-0.44
Omega ratio: Gain probability vs. loss probability	1.27	1.31	-0.04
Calmar ratio: Return relative to maximum drawdown	2.27	2.49	-0.22
Martin ratio: Return relative to average drawdown	8.56	11.34	-2.78

MCSTX vs. DBCMX - Sharpe Ratio Comparison

The current MCSTX Sharpe Ratio is 1.47, which is comparable to the DBCMX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of MCSTX and DBCMX, 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

MCSTX vs. DBCMX - Drawdown Comparison

The maximum MCSTX drawdown since its inception was -37.67%, roughly equal to the maximum DBCMX drawdown of -37.62%. Use the drawdown chart below to compare losses from any high point for MCSTX and DBCMX.

Drawdown Indicators

	MCSTX	DBCMX	Difference
Max Drawdown Largest peak-to-trough decline	-37.67%	-37.62%	-0.05%
Max Drawdown (1Y) Largest decline over 1 year	-10.34%	-9.92%	-0.42%
Max Drawdown (3Y) Largest decline over 3 years	-10.34%	-14.75%	+4.41%
Max Drawdown (5Y) Largest decline over 5 years	-37.67%	-27.60%	-10.07%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.62%	—
Current Drawdown Current decline from peak	-10.34%	-9.92%	-0.42%
Average Drawdown Average peak-to-trough decline	-17.41%	-13.23%	-4.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	2.20%	+0.71%

Volatility

MCSTX vs. DBCMX - Volatility Comparison

The current volatility for MFS Commodity Strategy Fund Class R4 (MCSTX) is 3.30%, while DoubleLine Strategic Commodity Fund (DBCMX) has a volatility of 3.96%. This indicates that MCSTX experiences smaller price fluctuations and is considered to be less risky than DBCMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCSTX	DBCMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.30%	3.96%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	13.63%	12.48%	+1.15%
Volatility (1Y) Calculated over the trailing 1-year period	15.92%	14.01%	+1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.67%	16.28%	+18.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.91%	14.64%	+15.27%

MCSTX vs. DBCMX - Expense Ratio Comparison

MCSTX has a 0.91% expense ratio, which is lower than DBCMX's 1.02% expense ratio.

Dividends

MCSTX vs. DBCMX - Dividend Comparison

MCSTX's dividend yield for the trailing twelve months is around 13.95%, more than DBCMX's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DBCMX DoubleLine Strategic Commodity Fund	2.51%	3.04%	2.89%	3.30%	46.88%	13.53%	0.00%	1.04%	1.21%	5.23%	0.51%
MCSTX MFS Commodity Strategy Fund Class R4	13.95%	16.08%	3.30%	2.21%	27.44%	56.14%	0.87%	1.87%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MCSTX and DBCMX in my portfolio?

MCSTX and DBCMX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MCSTX or DBCMX?

DBCMX has higher volatility (3.96%) compared to MCSTX (3.30%). In terms of maximum drawdown, MCSTX dropped -37.67% vs DBCMX's -37.62%.

Which has better risk-adjusted returns?

DBCMX currently has the higher Sharpe Ratio (1.77 vs 1.47), 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.