SNOU vs. ISCMF

Last updated Jun 5, 2026

SNOU (T-Rex 2X Long SNOW Daily Target ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - SNOU is a Leveraged Equities fund actively managed by T-Rex, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. SNOU is actively managed, while ISCMF is passively managed. Over the past year, SNOU returned -15.82% vs 37.85% for ISCMF. At a correlation of -0.11, they often move in opposite directions. SNOU charges 1.50%/yr vs 0.19%/yr for ISCMF.

Performance

SNOU vs. ISCMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long SNOW Daily Target ETF (SNOU) 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, SNOU achieves a -7.36% return, which is significantly lower than ISCMF's 22.87% return.

SNOU

• 1D: 3.04%
• 1M: 163.04%
• YTD: -7.36%
• 6M: -21.80%
• 1Y: -15.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ISCMF

• 1D: 0.00%
• 1M: -0.67%
• YTD: 22.87%
• 6M: 22.87%
• 1Y: 37.85%
• 3Y*: 15.20%
• 5Y*: —
• 10Y*: —

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

SNOU vs. ISCMF - Yearly Performance Comparison

	2026 (YTD)	2025
SNOU T-Rex 2X Long SNOW Daily Target ETF	-7.36%	52.64%
ISCMF iShares Diversified Commodity Swap UCITS ETF	22.87%	11.78%

Correlation

The correlation between SNOU and ISCMF is -0.12, 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	-0.12
Correlation (All Time) Calculated using the full available price history since Apr 25, 2025	-0.11

Return for Risk

SNOU vs. ISCMF — Risk / Return Rank

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

SNOU

SNOU Risk / Return Rank: 11
SNOU Sharpe Ratio Rank: 8
SNOU Sortino Ratio Rank: 17
SNOU Omega Ratio Rank: 17
SNOU Calmar Ratio Rank: 7
SNOU Martin Ratio Rank: 8

ISCMF

ISCMF Risk / Return Rank: 84
ISCMF Sharpe Ratio Rank: 62
ISCMF Sortino Ratio Rank: 85
ISCMF Omega Ratio Rank: 99
ISCMF Calmar Ratio Rank: 93
ISCMF Martin Ratio Rank: 80

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.

SNOU vs. ISCMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long SNOW Daily Target ETF (SNOU) 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.

	SNOU	ISCMF	Difference
Sharpe ratio: Return per unit of total volatility	-0.12	2.05	-2.17
Sortino ratio: Return per unit of downside risk	0.79	3.74	-2.94
Omega ratio: Gain probability vs. loss probability	1.10	2.53	-1.43
Calmar ratio: Return relative to maximum drawdown	-0.19	6.69	-6.87
Martin ratio: Return relative to average drawdown	-0.35	15.54	-15.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SNOU vs. ISCMF - Sharpe Ratio Comparison

The current SNOU Sharpe Ratio is -0.12, which is lower than the ISCMF Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SNOU 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.

Sharpe Ratios by Period

	SNOU	ISCMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.12	2.05	-2.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.45	-0.16

Drawdowns

SNOU vs. ISCMF - Drawdown Comparison

The maximum SNOU drawdown since its inception was -84.17%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for SNOU and ISCMF.

Drawdown Indicators

	SNOU	ISCMF	Difference
Max Drawdown Largest peak-to-trough decline	-84.17%	-25.42%	-58.75%
Max Drawdown (1Y) Largest decline over 1 year	-84.17%	-5.69%	-78.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.62%	—
Current Drawdown Current decline from peak	-45.39%	-5.26%	-40.13%
Average Drawdown Average peak-to-trough decline	-32.49%	-13.42%	-19.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.23%	2.44%	+42.79%

Volatility

SNOU vs. ISCMF - Volatility Comparison

T-Rex 2X Long SNOW Daily Target ETF (SNOU) has a higher volatility of 67.00% compared to iShares Diversified Commodity Swap UCITS ETF (ISCMF) at 7.14%. This indicates that SNOU'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

	SNOU	ISCMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	67.00%	7.14%	+59.86%
Volatility (6M) Calculated over the trailing 6-month period	106.21%	15.90%	+90.31%
Volatility (1Y) Calculated over the trailing 1-year period	131.55%	18.53%	+113.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	129.12%	14.37%	+114.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	129.12%	14.37%	+114.75%

SNOU vs. ISCMF - Expense Ratio Comparison

SNOU has a 1.50% expense ratio, which is higher than ISCMF's 0.19% expense ratio.

Dividends

SNOU vs. ISCMF - Dividend Comparison

SNOU's dividend yield for the trailing twelve months is around 6.45%, while ISCMF has not paid dividends to shareholders.

Position	TTM	2025
ISCMF iShares Diversified Commodity Swap UCITS ETF	0.00%	0.00%
SNOU T-Rex 2X Long SNOW Daily Target ETF	6.45%	5.97%

Frequently Asked Questions

Can I hold both SNOU and ISCMF in my portfolio?

SNOU and ISCMF have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SNOU or ISCMF?

SNOU has higher volatility (67.00%) compared to ISCMF (7.14%). In terms of maximum drawdown, SNOU dropped -84.17% vs ISCMF's -25.42%.

Which ETF is better, SNOU or ISCMF?

On 1-year performance, ISCMF leads with 37.85% vs -15.82% for SNOU. On fees, ISCMF is cheaper at 0.19% per year. On volatility, ISCMF has been the lower-risk option at 7.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SNOU or ISCMF?

Over the 1-year period, ISCMF has performed better with a 37.85% return vs -15.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SNOU or ISCMF?

ISCMF is cheaper with a 0.19% expense ratio, compared with 1.50% for SNOU.

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

SNOU has the higher dividend yield at 6.45%, compared with 0.00% for ISCMF.

What is the main difference between SNOU and ISCMF?

SNOU is categorized as Leveraged Equities, while ISCMF is Commodities. They also come from different issuers: T-Rex and iShares. Their fees differ too: 1.50% for SNOU and 0.19% for ISCMF.

Which has better risk-adjusted returns?

ISCMF currently has the higher Sharpe Ratio (2.05 vs -0.12), 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.