RNEM vs. ISCMF
RNEM (First Trust Emerging Markets Equity Select ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - RNEM is a Emerging Markets Equities fund tracking the Nasdaq Riskalyze Emerging Markets Equity Select Index, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past 3 years, RNEM returned 7.54%/yr vs 16.78%/yr for ISCMF. At a correlation of -0.02, they often move in opposite directions. RNEM charges 0.75%/yr vs 0.19%/yr for ISCMF.
Performance
RNEM vs. ISCMF - Performance Comparison
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Returns By Period
In the year-to-date period, RNEM achieves a -0.01% return, which is significantly lower than ISCMF's 22.87% return.
RNEM
- 1D
- -1.32%
- 1M
- 1.05%
- YTD
- -0.01%
- 6M
- -0.61%
- 1Y
- 4.82%
- 3Y*
- 7.54%
- 5Y*
- 4.54%
- 10Y*
- —
ISCMF
- 1D
- 0.00%
- 1M
- -4.99%
- YTD
- 22.87%
- 6M
- 22.87%
- 1Y
- 31.30%
- 3Y*
- 16.78%
- 5Y*
- —
- 10Y*
- —
RNEM vs. ISCMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
RNEM First Trust Emerging Markets Equity Select ETF | -0.01% | 15.58% | -1.47% | 23.43% | -8.97% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 22.87% | 19.65% | 3.13% | -9.58% | -5.82% |
Correlation
The correlation between RNEM and ISCMF is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | -0.02 |
The correlation between RNEM and ISCMF shifts across timeframes, from -0.15 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RNEM vs. ISCMF — Risk / Return Rank
RNEM
ISCMF
RNEM vs. ISCMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Emerging Markets Equity Select ETF (RNEM) and iShares Diversified Commodity Swap UCITS ETF (ISCMF). 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.
| RNEM | ISCMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -2.58 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 2.31 | -1.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | 5.53 | -5.08 |
| Martin ratioReturn relative to average drawdown | 1.00 | 11.85 | -10.85 |
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Drawdowns
RNEM vs. ISCMF - Drawdown Comparison
The maximum RNEM drawdown since its inception was -38.38%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for RNEM and ISCMF.
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Drawdown Indicators
| RNEM | ISCMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.38% | -25.42% | -12.96% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -5.69% | -5.02% |
Max Drawdown (3Y)Largest decline over 3 years | -13.09% | -7.62% | -5.47% |
Max Drawdown (5Y)Largest decline over 5 years | -21.41% | — | — |
Current DrawdownCurrent decline from peak | -6.06% | -5.26% | -0.80% |
Average DrawdownAverage peak-to-trough decline | -9.28% | -13.35% | +4.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.83% | 2.65% | +2.18% |
Volatility
RNEM vs. ISCMF - Volatility Comparison
The current volatility for First Trust Emerging Markets Equity Select ETF (RNEM) is 4.04%, while iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a volatility of 5.11%. This indicates that RNEM experiences smaller price fluctuations and is considered to be less risky than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RNEM | ISCMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 5.11% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 10.80% | 15.45% | -4.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.64% | 17.84% | -4.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.47% | 14.29% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.21% | 14.29% | +2.92% |
RNEM vs. ISCMF - Expense Ratio Comparison
RNEM has a 0.75% expense ratio, which is higher than ISCMF's 0.19% expense ratio.
Dividends
RNEM vs. ISCMF - Dividend Comparison
RNEM's dividend yield for the trailing twelve months is around 2.75%, while ISCMF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ISCMF iShares Diversified Commodity Swap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RNEM First Trust Emerging Markets Equity Select ETF | 2.75% | 2.75% | 3.45% | 1.63% | 2.99% | 3.20% | 3.01% | 2.85% | 2.85% | 2.28% |
Frequently Asked Questions
RNEM and ISCMF have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISCMF has higher volatility (5.11%) compared to RNEM (4.04%). In terms of maximum drawdown, RNEM dropped -38.38% vs ISCMF's -25.42%.
On 3-year performance, ISCMF leads with 16.78% vs 7.54% for RNEM. On fees, ISCMF is cheaper at 0.19% per year. On volatility, RNEM has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ISCMF has performed better with a 16.78% return vs 7.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISCMF is cheaper with a 0.19% expense ratio, compared with 0.75% for RNEM.
RNEM has the higher dividend yield at 2.75%, compared with 0.00% for ISCMF.
RNEM is categorized as Emerging Markets Equities, while ISCMF is Commodities. RNEM tracks Nasdaq Riskalyze Emerging Markets Equity Select Index, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.75% for RNEM and 0.19% for ISCMF.
ISCMF currently has the higher Sharpe Ratio (1.76 vs 0.36), 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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