SCDL vs. ISCMF

Last updated Jun 19, 2026

SCDL (ETRACS 2x Leveraged U.S. Dividend Factor TR ETN) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - SCDL is a Leveraged Equities fund tracking the Dow Jones U.S. Dividend 100 (200%), while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past 3 years, SCDL returned 19.16%/yr vs 16.78%/yr for ISCMF. At a correlation of -0.02, they often move in opposite directions. SCDL charges 0.95%/yr vs 0.19%/yr for ISCMF.

Performance

SCDL vs. ISCMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) and iShares Diversified Commodity Swap UCITS ETF (ISCMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCDL achieves a 32.62% return, which is significantly higher than ISCMF's 22.87% return.

SCDL

• 1D: -0.27%
• 1M: -1.74%
• YTD: 32.62%
• 6M: 32.02%
• 1Y: 44.38%
• 3Y*: 19.16%
• 5Y*: 10.74%
• 10Y*: —

ISCMF

• 1D: 0.00%
• 1M: -4.99%
• YTD: 22.87%
• 6M: 22.87%
• 1Y: 31.30%
• 3Y*: 16.78%
• 5Y*: —
• 10Y*: —

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

SCDL vs. ISCMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	32.62%	2.05%	14.99%	0.18%	-5.11%
ISCMF iShares Diversified Commodity Swap UCITS ETF	22.87%	19.65%	3.13%	-9.58%	-5.82%

Correlation

The correlation between SCDL and ISCMF is -0.06, 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	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022	-0.02

Return for Risk

SCDL vs. ISCMF — Risk / Return Rank

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

SCDL

SCDL Risk / Return Rank: 69
SCDL Sharpe Ratio Rank: 67
SCDL Sortino Ratio Rank: 70
SCDL Omega Ratio Rank: 59
SCDL Calmar Ratio Rank: 85
SCDL Martin Ratio Rank: 64

ISCMF

ISCMF Risk / Return Rank: 78
ISCMF Sharpe Ratio Rank: 55
ISCMF Sortino Ratio Rank: 77
ISCMF Omega Ratio Rank: 98
ISCMF Calmar Ratio Rank: 92
ISCMF Martin Ratio Rank: 69

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.

SCDL vs. ISCMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) 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.

	SCDL	ISCMF	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.76	+0.29
Sortino ratio: Return per unit of downside risk	2.97	3.18	-0.22
Omega ratio: Gain probability vs. loss probability	1.34	2.31	-0.97
Calmar ratio: Return relative to maximum drawdown	4.38	5.53	-1.15
Martin ratio: Return relative to average drawdown	10.92	12.04	-1.12

SCDL vs. ISCMF - Sharpe Ratio Comparison

The current SCDL Sharpe Ratio is 2.06, which is comparable to the ISCMF Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of SCDL and ISCMF, 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

SCDL vs. ISCMF - Drawdown Comparison

The maximum SCDL drawdown since its inception was -34.87%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for SCDL and ISCMF.

Drawdown Indicators

	SCDL	ISCMF	Difference
Max Drawdown Largest peak-to-trough decline	-34.87%	-25.42%	-9.45%
Max Drawdown (1Y) Largest decline over 1 year	-10.19%	-5.69%	-4.50%
Max Drawdown (3Y) Largest decline over 3 years	-32.79%	-7.62%	-25.17%
Max Drawdown (5Y) Largest decline over 5 years	-34.87%	—	—
Current Drawdown Current decline from peak	-5.94%	-5.26%	-0.68%
Average Drawdown Average peak-to-trough decline	-11.88%	-13.36%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.07%	2.61%	+1.46%

Volatility

SCDL vs. ISCMF - Volatility Comparison

ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) has a higher volatility of 6.46% compared to iShares Diversified Commodity Swap UCITS ETF (ISCMF) at 5.11%. This indicates that SCDL's price experiences larger fluctuations and is considered to be riskier than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCDL	ISCMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.46%	5.11%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	14.78%	15.45%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	21.71%	17.84%	+3.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.00%	14.30%	+14.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.83%	14.30%	+14.53%

SCDL vs. ISCMF - Expense Ratio Comparison

SCDL has a 0.95% expense ratio, which is higher than ISCMF's 0.19% expense ratio.

Dividends

SCDL vs. ISCMF - Dividend Comparison

Neither SCDL nor ISCMF has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SCDL and ISCMF in my portfolio?

SCDL and ISCMF have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCDL or ISCMF?

SCDL has higher volatility (6.46%) compared to ISCMF (5.11%). In terms of maximum drawdown, SCDL dropped -34.87% vs ISCMF's -25.42%.

Which ETF is better, SCDL or ISCMF?

On 3-year performance, SCDL leads with 19.16% vs 16.78% for ISCMF. On fees, ISCMF is cheaper at 0.19% per year. On volatility, ISCMF has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCDL or ISCMF?

Over the 3-year period, SCDL has performed better with a 19.16% return vs 16.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCDL or ISCMF?

ISCMF is cheaper with a 0.19% expense ratio, compared with 0.95% for SCDL.

Which ETF pays a higher dividend yield, SCDL or ISCMF?

SCDL and ISCMF have nearly identical dividend yields, around 0.00%.

What is the main difference between SCDL and ISCMF?

SCDL is categorized as Leveraged Equities, while ISCMF is Commodities. SCDL tracks Dow Jones U.S. Dividend 100 (200%), while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.95% for SCDL and 0.19% for ISCMF.

Which has better risk-adjusted returns?

SCDL currently has the higher Sharpe Ratio (2.06 vs 1.76), 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.