SKIRX vs. BCSKX

Last updated Jun 26, 2026

SKIRX (DWS Enhanced Commodity Strategy Fund) and BCSKX (BlackRock Commodity Strategies Fund Class K) are both Commodities funds. Over the past 5 years, SKIRX returned 6.81%/yr vs 10.30%/yr for BCSKX. A 0.76 correlation means they provide meaningful diversification when combined. SKIRX charges 0.89%/yr vs 0.67%/yr for BCSKX.

Performance

SKIRX vs. BCSKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DWS Enhanced Commodity Strategy Fund (SKIRX) and BlackRock Commodity Strategies Fund Class K (BCSKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SKIRX having a 9.24% return and BCSKX slightly higher at 9.36%.

SKIRX

• 1D: -1.56%
• 1M: -8.85%
• YTD: 9.24%
• 6M: 7.97%
• 1Y: 16.24%
• 3Y*: 7.54%
• 5Y*: 6.81%
• 10Y*: 4.40%

BCSKX

• 1D: -1.65%
• 1M: -8.70%
• YTD: 9.36%
• 6M: 7.90%
• 1Y: 27.03%
• 3Y*: 14.34%
• 5Y*: 10.30%
• 10Y*: —

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

SKIRX vs. BCSKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SKIRX DWS Enhanced Commodity Strategy Fund	9.24%	11.95%	2.64%	-5.17%	8.33%	30.40%	-1.68%	2.72%	-14.01%
BCSKX BlackRock Commodity Strategies Fund Class K	9.36%	28.88%	4.44%	-4.27%	11.95%	22.49%	6.84%	3.89%	2.06%

Correlation

The correlation between SKIRX and BCSKX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jan 29, 2018	0.76

The correlation between SKIRX and BCSKX has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.

Return for Risk

SKIRX vs. BCSKX — Risk / Return Rank

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

SKIRX

SKIRX Risk / Return Rank: 20
SKIRX Sharpe Ratio Rank: 17
SKIRX Sortino Ratio Rank: 15
SKIRX Omega Ratio Rank: 21
SKIRX Calmar Ratio Rank: 19
SKIRX Martin Ratio Rank: 27

BCSKX

BCSKX Risk / Return Rank: 52
BCSKX Sharpe Ratio Rank: 54
BCSKX Sortino Ratio Rank: 45
BCSKX Omega Ratio Rank: 46
BCSKX Calmar Ratio Rank: 47
BCSKX Martin Ratio Rank: 68

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.

SKIRX vs. BCSKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DWS Enhanced Commodity Strategy Fund (SKIRX) and BlackRock Commodity Strategies Fund Class K (BCSKX). 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.

	SKIRX	BCSKX	Difference
Sharpe ratio: Return per unit of total volatility	0.92	1.79	-0.87
Sortino ratio: Return per unit of downside risk	1.26	2.34	-1.08
Omega ratio: Gain probability vs. loss probability	1.20	1.31	-0.11
Calmar ratio: Return relative to maximum drawdown	1.25	2.29	-1.04
Martin ratio: Return relative to average drawdown	5.15	11.03	-5.87

SKIRX vs. BCSKX - Sharpe Ratio Comparison

The current SKIRX Sharpe Ratio is 0.92, which is lower than the BCSKX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of SKIRX and BCSKX, 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

SKIRX vs. BCSKX - Drawdown Comparison

The maximum SKIRX drawdown since its inception was -88.19%, which is greater than BCSKX's maximum drawdown of -30.34%. Use the drawdown chart below to compare losses from any high point for SKIRX and BCSKX.

Drawdown Indicators

	SKIRX	BCSKX	Difference
Max Drawdown Largest peak-to-trough decline	-88.19%	-30.34%	-57.85%
Max Drawdown (1Y) Largest decline over 1 year	-12.82%	-11.62%	-1.20%
Max Drawdown (3Y) Largest decline over 3 years	-12.82%	-11.62%	-1.20%
Max Drawdown (5Y) Largest decline over 5 years	-24.34%	-22.34%	-2.00%
Max Drawdown (10Y) Largest decline over 10 years	-32.33%	—	—
Current Drawdown Current decline from peak	-74.97%	-11.62%	-63.35%
Average Drawdown Average peak-to-trough decline	-67.88%	-6.56%	-61.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	2.41%	+0.70%

Volatility

SKIRX vs. BCSKX - Volatility Comparison

The current volatility for DWS Enhanced Commodity Strategy Fund (SKIRX) is 3.49%, while BlackRock Commodity Strategies Fund Class K (BCSKX) has a volatility of 4.16%. This indicates that SKIRX experiences smaller price fluctuations and is considered to be less risky than BCSKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKIRX	BCSKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	4.16%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	15.78%	12.31%	+3.47%
Volatility (1Y) Calculated over the trailing 1-year period	17.44%	14.95%	+2.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.37%	15.78%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.32%	15.05%	-1.73%

SKIRX vs. BCSKX - Expense Ratio Comparison

SKIRX has a 0.89% expense ratio, which is higher than BCSKX's 0.67% expense ratio.

Dividends

SKIRX vs. BCSKX - Dividend Comparison

SKIRX's dividend yield for the trailing twelve months is around 6.55%, more than BCSKX's 2.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCSKX BlackRock Commodity Strategies Fund Class K	2.86%	3.13%	3.66%	9.45%	9.11%	2.72%	0.84%	2.08%	2.02%	0.00%	0.00%	0.00%
SKIRX DWS Enhanced Commodity Strategy Fund	6.55%	5.39%	3.03%	1.93%	50.74%	43.89%	1.53%	1.74%	12.16%	0.41%	7.04%	0.40%

Frequently Asked Questions

Can I hold both SKIRX and BCSKX in my portfolio?

SKIRX and BCSKX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SKIRX or BCSKX?

BCSKX has higher volatility (4.16%) compared to SKIRX (3.49%). In terms of maximum drawdown, SKIRX dropped -88.19% vs BCSKX's -30.34%.

Which has better risk-adjusted returns?

BCSKX currently has the higher Sharpe Ratio (1.79 vs 0.92), 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.