SHYM vs. DJP
SHYM (iShares Short Duration High Yield Muni Active ETF) and DJP (iPath Bloomberg Commodity Index Total Return ETN) are both exchange-traded funds - SHYM is a High Yield Muni fund actively managed by iShares, while DJP is a Commodities fund tracking the Bloomberg Commodity Index. SHYM is actively managed, while DJP is passively managed. Over the past 5 years, SHYM returned 0.74%/yr vs 10.88%/yr for DJP. At a correlation of -0.02, they often move in opposite directions. SHYM charges 0.35%/yr vs 0.70%/yr for DJP.
Performance
SHYM vs. DJP - Performance Comparison
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Returns By Period
In the year-to-date period, SHYM achieves a 2.65% return, which is significantly lower than DJP's 19.91% return.
SHYM
- 1D
- 0.09%
- 1M
- 0.56%
- 6M
- 2.19%
- YTD
- 2.65%
- 1Y
- 5.27%
- 3Y*
- 5.80%
- 5Y*
- 0.74%
- 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%
SHYM vs. DJP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 2.65% | 2.58% | 6.99% | 9.67% | -15.96% | 6.71% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 19.91% | 17.20% | 5.59% | -9.85% | 17.46% | 17.57% |
Correlation
The correlation between SHYM and DJP is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2021 | -0.02 |
The correlation between SHYM and DJP shifts across timeframes, from -0.22 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SHYM vs. DJP — Risk / Return Rank
SHYM
DJP
SHYM vs. DJP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration High Yield Muni Active ETF (SHYM) 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.
| SHYM | DJP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.29 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 1.88 | +0.18 |
| Martin ratioReturn relative to average drawdown | 8.16 | 6.29 | +1.86 |
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Drawdowns
SHYM vs. DJP - Drawdown Comparison
The maximum SHYM drawdown since its inception was -22.55%, smaller than the maximum DJP drawdown of -78.35%. Use the drawdown chart below to compare losses from any high point for SHYM and DJP.
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Drawdown Indicators
| SHYM | DJP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.55% | -78.35% | +55.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -16.42% | +14.19% |
Max Drawdown (3Y)Largest decline over 3 years | -8.06% | -16.42% | +8.36% |
Max Drawdown (5Y)Largest decline over 5 years | -22.55% | -28.98% | +6.43% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.36% | — |
Current DrawdownCurrent decline from peak | -0.27% | -38.33% | +38.06% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -50.79% | +44.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 4.89% | -4.23% |
Volatility
SHYM vs. DJP - Volatility Comparison
The current volatility for iShares Short Duration High Yield Muni Active ETF (SHYM) is 0.49%, while iPath Bloomberg Commodity Index Total Return ETN (DJP) has a volatility of 4.94%. This indicates that SHYM experiences smaller price fluctuations and is considered to be less risky 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
| SHYM | DJP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 4.94% | -4.45% |
Volatility (6M)Calculated over the trailing 6-month period | 1.82% | 16.79% | -14.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.84% | 19.32% | -16.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.06% | 18.98% | -11.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.88% | 17.04% | -10.16% |
SHYM vs. DJP - Expense Ratio Comparison
SHYM has a 0.35% expense ratio, which is lower than DJP's 0.70% expense ratio.
Dividends
SHYM vs. DJP - Dividend Comparison
SHYM's dividend yield for the trailing twelve months is around 4.28%, while DJP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHYM iShares Short Duration High Yield Muni Active ETF | 4.28% | 4.55% | 4.35% | 4.35% | 4.01% | 2.97% |
Frequently Asked Questions
SHYM and DJP have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DJP has higher volatility (4.94%) compared to SHYM (0.49%). In terms of maximum drawdown, SHYM dropped -22.55% vs DJP's -78.35%.
On 5-year performance, DJP leads with 10.88% vs 0.74% for SHYM. On fees, SHYM is cheaper at 0.35% per year. On volatility, SHYM has been the lower-risk option at 0.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DJP has performed better with a 10.88% return vs 0.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHYM is cheaper with a 0.35% expense ratio, compared with 0.70% for DJP.
SHYM has the higher dividend yield at 4.28%, compared with 0.00% for DJP.
SHYM is categorized as High Yield Muni, while DJP is Commodities. They also come from different issuers: iShares and Barclays Capital. Their fees differ too: 0.35% for SHYM and 0.70% for DJP.
SHYM currently has the higher Sharpe Ratio (1.63 vs 1.59), 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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