MUSQ vs. DJP
MUSQ (MUSQ Global Music Industry Index ETF) and DJP (iPath Bloomberg Commodity Index Total Return ETN) are both exchange-traded funds - MUSQ is a Communications Equities fund tracking the MUSQ Global Music Industry Index, while DJP is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past 3 years, MUSQ returned 1.53%/yr vs 13.06%/yr for DJP. At a 0.10 correlation, their price movements are largely independent. MUSQ charges 0.76%/yr vs 0.70%/yr for DJP.
Performance
MUSQ vs. DJP - Performance Comparison
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Returns By Period
In the year-to-date period, MUSQ achieves a -8.68% return, which is significantly lower than DJP's 19.91% return.
MUSQ
- 1D
- 0.03%
- 1M
- 1.09%
- 6M
- -8.38%
- YTD
- -8.68%
- 1Y
- -8.72%
- 3Y*
- 1.53%
- 5Y*
- —
- 10Y*
- —
DJP
- 1D
- -0.35%
- 1M
- -1.94%
- 6M
- 16.75%
- YTD
- 19.91%
- 1Y
- 29.52%
- 3Y*
- 13.06%
- 5Y*
- 10.88%
- 10Y*
- 6.43%
MUSQ vs. DJP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MUSQ MUSQ Global Music Industry Index ETF | -8.68% | 19.60% | -4.94% | 0.81% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 19.91% | 17.20% | 5.59% | -0.82% |
Correlation
The correlation between MUSQ and DJP is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023 | 0.10 |
The correlation between MUSQ and DJP shifts across timeframes, from -0.05 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MUSQ vs. DJP — Risk / Return Rank
MUSQ
DJP
MUSQ vs. DJP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MUSQ Global Music Industry Index ETF (MUSQ) and iPath Bloomberg Commodity Index Total Return ETN (DJP). 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.
| MUSQ | DJP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.12 | ||
| Sortino ratioReturn per unit of downside risk | -2.76 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.29 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 1.88 | -2.27 |
| Martin ratioReturn relative to average drawdown | -0.85 | 6.29 | -7.14 |
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Drawdowns
MUSQ vs. DJP - Drawdown Comparison
The maximum MUSQ drawdown since its inception was -23.11%, smaller than the maximum DJP drawdown of -78.35%. Use the drawdown chart below to compare losses from any high point for MUSQ and DJP.
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Drawdown Indicators
| MUSQ | DJP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.11% | -78.35% | +55.24% |
Max Drawdown (1Y)Largest decline over 1 year | -23.11% | -16.42% | -6.69% |
Max Drawdown (3Y)Largest decline over 3 years | -23.11% | -16.42% | -6.69% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.36% | — |
Current DrawdownCurrent decline from peak | -14.81% | -38.33% | +23.52% |
Average DrawdownAverage peak-to-trough decline | -6.90% | -50.79% | +43.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.77% | 4.89% | +5.88% |
Volatility
MUSQ vs. DJP - Volatility Comparison
MUSQ Global Music Industry Index ETF (MUSQ) has a higher volatility of 5.65% compared to iPath Bloomberg Commodity Index Total Return ETN (DJP) at 4.94%. This indicates that MUSQ's price experiences larger fluctuations and is considered to be riskier than DJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUSQ | DJP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.65% | 4.94% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 14.23% | 16.79% | -2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.44% | 19.32% | -1.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.92% | 18.98% | -1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.92% | 17.04% | +0.88% |
MUSQ vs. DJP - Expense Ratio Comparison
MUSQ has a 0.76% expense ratio, which is higher than DJP's 0.70% expense ratio.
Dividends
MUSQ vs. DJP - Dividend Comparison
MUSQ's dividend yield for the trailing twelve months is around 0.69%, while DJP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 0.00% | 0.00% | 0.00% | 0.00% |
MUSQ MUSQ Global Music Industry Index ETF | 0.69% | 0.63% | 1.08% | 0.74% |
Frequently Asked Questions
MUSQ and DJP have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUSQ has higher volatility (5.65%) compared to DJP (4.94%). In terms of maximum drawdown, MUSQ dropped -23.11% vs DJP's -78.35%.
On 3-year performance, DJP leads with 13.06% vs 1.53% for MUSQ. On fees, DJP is cheaper at 0.70% per year. On volatility, DJP 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 3-year period, DJP has performed better with a 13.06% return vs 1.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DJP is cheaper with a 0.70% expense ratio, compared with 0.76% for MUSQ.
MUSQ has the higher dividend yield at 0.69%, compared with 0.00% for DJP.
MUSQ is categorized as Communications Equities, while DJP is Commodities. MUSQ tracks MUSQ Global Music Industry Index, while DJP tracks Bloomberg Commodity Index. They also come from different issuers: Exchange Traded Concepts and Barclays Capital. Their fees differ too: 0.76% for MUSQ and 0.70% for DJP.
DJP currently has the higher Sharpe Ratio (1.59 vs -0.52), 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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