SDCI vs. CMDT
SDCI (USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both Commodities funds - SDCI tracks the SummerHaven Dynamic Commodity Index Total Return while CMDT tracks the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 3 years, SDCI returned 21.11%/yr vs 12.71%/yr for CMDT. Their correlation of 0.82 suggests significant overlap in exposure. SDCI charges 0.60%/yr vs 0.65%/yr for CMDT.
Performance
SDCI vs. CMDT - Performance Comparison
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Returns By Period
In the year-to-date period, SDCI achieves a 27.24% return, which is significantly higher than CMDT's 17.04% return.
SDCI
- 1D
- 2.45%
- 1M
- 3.24%
- 6M
- 22.83%
- YTD
- 27.24%
- 1Y
- 31.47%
- 3Y*
- 21.11%
- 5Y*
- 20.23%
- 10Y*
- —
CMDT
- 1D
- 1.53%
- 1M
- -0.89%
- 6M
- 13.84%
- YTD
- 17.04%
- 1Y
- 25.37%
- 3Y*
- 12.71%
- 5Y*
- —
- 10Y*
- —
SDCI vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 27.24% | 17.60% | 17.91% | 4.33% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 17.04% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between SDCI and CMDT is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | 0.82 |
The correlation between SDCI and CMDT has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.
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Return for Risk
SDCI vs. CMDT — Risk / Return Rank
SDCI
CMDT
SDCI vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT). 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.
| SDCI | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.34 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 1.93 | +0.94 |
| Martin ratioReturn relative to average drawdown | 9.00 | 7.48 | +1.52 |
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Drawdowns
SDCI vs. CMDT - Drawdown Comparison
The maximum SDCI drawdown since its inception was -45.79%, which is greater than CMDT's maximum drawdown of -13.23%. Use the drawdown chart below to compare losses from any high point for SDCI and CMDT.
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Drawdown Indicators
| SDCI | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.79% | -13.23% | -32.56% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -13.23% | +2.20% |
Max Drawdown (3Y)Largest decline over 3 years | -11.96% | -13.23% | +1.27% |
Max Drawdown (5Y)Largest decline over 5 years | -18.55% | — | — |
Current DrawdownCurrent decline from peak | -4.30% | -8.28% | +3.98% |
Average DrawdownAverage peak-to-trough decline | -11.53% | -2.91% | -8.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 3.40% | +0.11% |
Volatility
SDCI vs. CMDT - Volatility Comparison
USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) has a higher volatility of 5.40% compared to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) at 4.46%. This indicates that SDCI's price experiences larger fluctuations and is considered to be riskier than CMDT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDCI | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.40% | 4.46% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 14.76% | 11.03% | +3.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.17% | 12.92% | +4.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.43% | 12.33% | +6.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.09% | 12.33% | +4.76% |
SDCI vs. CMDT - Expense Ratio Comparison
SDCI has a 0.60% expense ratio, which is lower than CMDT's 0.65% expense ratio.
Dividends
SDCI vs. CMDT - Dividend Comparison
SDCI's dividend yield for the trailing twelve months is around 2.89%, more than CMDT's 2.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 2.64% | 3.04% | 8.80% | 2.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 2.89% | 3.68% | 5.92% | 3.46% | 33.49% | 19.26% | 0.20% | 0.93% | 0.68% |
Frequently Asked Questions
SDCI and CMDT have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDCI has higher volatility (5.40%) compared to CMDT (4.46%). In terms of maximum drawdown, SDCI dropped -45.79% vs CMDT's -13.23%.
On 3-year performance, SDCI leads with 21.11% vs 12.71% for CMDT. On fees, SDCI is cheaper at 0.60% per year. On volatility, CMDT has been the lower-risk option at 4.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SDCI has performed better with a 21.11% return vs 12.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SDCI is cheaper with a 0.60% expense ratio, compared with 0.65% for CMDT.
SDCI has the higher dividend yield at 2.89%, compared with 2.64% for CMDT.
SDCI tracks SummerHaven Dynamic Commodity Index Total Return, while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: USCF Investments and PIMCO. Their fees differ too: 0.60% for SDCI and 0.65% for CMDT.
CMDT currently has the higher Sharpe Ratio (1.98 vs 1.84), 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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