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REZ vs. USCI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

REZ vs. USCI

Last updated Jun 9, 2026

REZ (iShares Residential Real Estate ETF) and USCI (United States Commodity Index Fund) are both exchange-traded funds - REZ is a REIT fund tracking the FTSE NAREIT All Residential Capped Index, while USCI is a Commodities fund tracking the SummerHaven Dynamic Commodity (TR). Both are passively managed. Over the past 10 years, REZ returned 6.63%/yr vs 8.35%/yr for USCI. At a 0.13 correlation, their price movements are largely independent. REZ charges 0.48%/yr vs 1.03%/yr for USCI.

Performance

REZ vs. USCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Residential Real Estate ETF (REZ) and United States Commodity Index Fund (USCI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, REZ achieves a 8.03% return, which is significantly lower than USCI's 25.01% return. Over the past 10 years, REZ has underperformed USCI with an annualized return of 6.63%, while USCI has yielded a comparatively higher 8.35% annualized return.

REZ

1D
-1.64%
1M
-2.07%
YTD
8.03%
6M
6.75%
1Y
10.29%
3Y*
9.61%
5Y*
3.77%
10Y*
6.63%

USCI

1D
0.14%
1M
-1.98%
YTD
25.01%
6M
23.30%
1Y
33.84%
3Y*
21.81%
5Y*
18.56%
10Y*
8.35%
*Multi-year figures are annualized to reflect compound growth (CAGR)

REZ vs. USCI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
REZ
iShares Residential Real Estate ETF		8.03%4.80%12.73%10.97%-28.31%47.86%-6.62%24.49%3.89%3.87%
USCI
United States Commodity Index Fund		25.01%17.63%17.24%-0.00%29.47%33.07%-11.47%-1.68%-11.76%6.32%

Correlation

The correlation between REZ and USCI is -0.10, 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

-0.10

Correlation (3Y)
Calculated over the trailing 3-year period

-0.02

Correlation (5Y)
Calculated over the trailing 5-year period

0.08

Correlation (10Y)
Calculated over the trailing 10-year period

0.09

Correlation (All Time)
Calculated using the full available price history since Aug 11, 2010

0.13

The correlation between REZ and USCI shifts across timeframes, from -0.10 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Residential Real Estate ETF

United States Commodity Index Fund

Often compared with REZ:
REZ vs. VNQREZ vs. IYRREZ vs. HAUSREZ vs. NUREREZ vs. AVBREZ vs. UREREZ vs. FRESX
Often compared with USCI:
USCI vs. DBCUSCI vs. SDCIUSCI vs. PDBCUSCI vs. SPYUSCI vs. VOOUSCI vs. CCRVUSCI vs. GLDM

Return for Risk

REZ vs. USCI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
REZ
REZ Risk / Return Rank: 2424
Overall Rank
REZ Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
REZ Sortino Ratio Rank: 2121
Sortino Ratio Rank
REZ Omega Ratio Rank: 2121
Omega Ratio Rank
REZ Calmar Ratio Rank: 2727
Calmar Ratio Rank
REZ Martin Ratio Rank: 2828
Martin Ratio Rank
USCI
USCI Risk / Return Rank: 7171
Overall Rank
USCI Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
USCI Sortino Ratio Rank: 6363
Sortino Ratio Rank
USCI Omega Ratio Rank: 6363
Omega Ratio Rank
USCI Calmar Ratio Rank: 8282
Calmar Ratio Rank
USCI Martin Ratio Rank: 7676
Martin Ratio Rank
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.

REZ vs. USCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Residential Real Estate ETF (REZ) 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.

REZUSCIDifference
Sharpe ratioReturn per unit of total volatility
0.71
2.03

-1.32

Sortino ratioReturn per unit of downside risk
1.04
2.65

-1.61

Omega ratioGain probability vs. loss probability

1.13

1.34

-0.21

Calmar ratioReturn relative to maximum drawdown

1.18

3.89

-2.71

Martin ratioReturn relative to average drawdown

3.59

13.23

-9.64

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

REZ vs. USCI - Sharpe Ratio Comparison

The current REZ Sharpe Ratio is 0.71, which is lower than the USCI Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of REZ and USCI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

REZUSCIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.71

2.03

-1.32

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.20

1.01

-0.81

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.31

0.53

-0.22

Sharpe Ratio (All Time)

Calculated using the full available price history

0.24

0.29

-0.05

Drawdowns

REZ vs. USCI - Drawdown Comparison

The maximum REZ drawdown since its inception was -66.87%, roughly equal to the maximum USCI drawdown of -66.41%. Use the drawdown chart below to compare losses from any high point for REZ and USCI.

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Drawdown Indicators

REZUSCIDifference

Max Drawdown

Largest peak-to-trough decline

-66.87%

-66.41%

-0.46%

Max Drawdown (1Y)

Largest decline over 1 year

-8.76%

-8.73%

-0.03%

Max Drawdown (3Y)

Largest decline over 3 years

-18.39%

-12.01%

-6.38%

Max Drawdown (5Y)

Largest decline over 5 years

-35.05%

-18.84%

-16.21%

Max Drawdown (10Y)

Largest decline over 10 years

-44.15%

-45.82%

+1.67%

Current Drawdown

Current decline from peak

-3.16%

-5.52%

+2.36%

Average Drawdown

Average peak-to-trough decline

-12.68%

-29.49%

+16.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

2.56%

+0.31%

Volatility

REZ vs. USCI - Volatility Comparison

iShares Residential Real Estate ETF (REZ) has a higher volatility of 4.85% compared to United States Commodity Index Fund (USCI) at 4.35%. This indicates that REZ'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

REZUSCIDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.85%

4.35%

+0.50%

Volatility (6M)

Calculated over the trailing 6-month period

10.94%

14.06%

-3.12%

Volatility (1Y)

Calculated over the trailing 1-year period

14.50%

16.79%

-2.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.94%

18.44%

+0.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.53%

15.85%

+5.68%

REZ vs. USCI - Expense Ratio Comparison

REZ has a 0.48% expense ratio, which is lower than USCI's 1.03% expense ratio.

Dividends

REZ vs. USCI - Dividend Comparison

REZ's dividend yield for the trailing twelve months is around 2.13%, while USCI has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
REZ
iShares Residential Real Estate ETF		2.13%2.74%2.26%2.94%3.37%1.81%3.17%2.90%3.63%3.57%5.55%3.18%
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

REZ and USCI have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

REZ has higher volatility (4.85%) compared to USCI (4.35%). In terms of maximum drawdown, REZ dropped -66.87% vs USCI's -66.41%.

On 10-year performance, USCI leads with 8.35% vs 6.63% for REZ. On fees, REZ is cheaper at 0.48% per year. On volatility, USCI has been the lower-risk option at 4.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, USCI has performed better with a 8.35% return vs 6.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

REZ is cheaper with a 0.48% expense ratio, compared with 1.03% for USCI.

REZ has the higher dividend yield at 2.13%, compared with 0.00% for USCI.

REZ is categorized as REIT, while USCI is Commodities. REZ tracks FTSE NAREIT All Residential Capped Index, while USCI tracks SummerHaven Dynamic Commodity (TR). They also come from different issuers: iShares and Concierge Technologies. Their fees differ too: 0.48% for REZ and 1.03% for USCI.

USCI currently has the higher Sharpe Ratio (2.03 vs 0.71), 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.

Portfolio Optimizer

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