SPDV vs. ISCMF

Last updated Jun 3, 2026

SPDV (AAM S&P 500 High Dividend Value ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - SPDV is a Dividend fund tracking the S&P 500 Dividend and Free Cash Flow Yield Index, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past 3 years, SPDV returned 17.01%/yr vs 15.20%/yr for ISCMF. At a correlation of -0.02, they often move in opposite directions. SPDV charges 0.29%/yr vs 0.19%/yr for ISCMF.

Performance

SPDV vs. ISCMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM S&P 500 High Dividend Value ETF (SPDV) 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, SPDV achieves a 14.63% return, which is significantly lower than ISCMF's 22.87% return.

SPDV

• 1D: 0.35%
• 1M: 3.08%
• YTD: 14.63%
• 6M: 15.97%
• 1Y: 28.90%
• 3Y*: 17.01%
• 5Y*: 8.27%
• 10Y*: —

ISCMF

• 1D: 0.00%
• 1M: -0.67%
• YTD: 22.87%
• 6M: 27.76%
• 1Y: 37.85%
• 3Y*: 15.20%
• 5Y*: —
• 10Y*: —

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

SPDV vs. ISCMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SPDV AAM S&P 500 High Dividend Value ETF	14.63%	10.90%	14.40%	5.45%	-3.96%
ISCMF iShares Diversified Commodity Swap UCITS ETF	22.87%	19.65%	3.13%	-9.58%	-5.08%

Correlation

The correlation between SPDV and ISCMF is -0.08, 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	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022	-0.02

Return for Risk

SPDV vs. ISCMF — Risk / Return Rank

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

SPDV

SPDV Risk / Return Rank: 76
SPDV Sharpe Ratio Rank: 72
SPDV Sortino Ratio Rank: 77
SPDV Omega Ratio Rank: 69
SPDV Calmar Ratio Rank: 87
SPDV Martin Ratio Rank: 74

ISCMF

ISCMF Risk / Return Rank: 82
ISCMF Sharpe Ratio Rank: 60
ISCMF Sortino Ratio Rank: 82
ISCMF Omega Ratio Rank: 99
ISCMF Calmar Ratio Rank: 93
ISCMF Martin Ratio Rank: 79

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.

SPDV vs. ISCMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM S&P 500 High Dividend Value ETF (SPDV) 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.

	SPDV	ISCMF	Difference
Sharpe ratio Return per unit of total volatility	2.39	2.05	+0.33
Sortino ratio Return per unit of downside risk	3.52	3.74	-0.22
Omega ratio Gain probability vs. loss probability	1.42	2.53	-1.11
Calmar ratio Return relative to maximum drawdown	4.96	6.66	-1.70
Martin ratio Return relative to average drawdown	14.31	15.79	-1.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPDV vs. ISCMF - Sharpe Ratio Comparison

The current SPDV Sharpe Ratio is 2.39, which is comparable to the ISCMF Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SPDV 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

	SPDV	ISCMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	2.05	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.45	+0.01

Drawdowns

SPDV vs. ISCMF - Drawdown Comparison

The maximum SPDV drawdown since its inception was -43.81%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for SPDV and ISCMF.

Drawdown Indicators

	SPDV	ISCMF	Difference
Max Drawdown Largest peak-to-trough decline	-43.81%	-25.42%	-18.39%
Max Drawdown (1Y) Largest decline over 1 year	-5.80%	-5.69%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	-18.62%	-7.62%	-11.00%
Max Drawdown (5Y) Largest decline over 5 years	-21.31%	—	—
Current Drawdown Current decline from peak	-0.24%	-5.26%	+5.02%
Average Drawdown Average peak-to-trough decline	-6.57%	-13.44%	+6.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	2.40%	-0.39%

Volatility

SPDV vs. ISCMF - Volatility Comparison

The current volatility for AAM S&P 500 High Dividend Value ETF (SPDV) is 2.96%, while iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a volatility of 7.14%. This indicates that SPDV experiences smaller price fluctuations and is considered to be less risky than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPDV	ISCMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	7.14%	-4.18%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	15.90%	-7.74%
Volatility (1Y) Calculated over the trailing 1-year period	12.17%	18.53%	-6.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.30%	14.38%	+1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.32%	14.38%	+5.94%

SPDV vs. ISCMF - Expense Ratio Comparison

SPDV has a 0.29% expense ratio, which is higher than ISCMF's 0.19% expense ratio.

Dividends

SPDV vs. ISCMF - Dividend Comparison

SPDV's dividend yield for the trailing twelve months is around 3.30%, while ISCMF has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISCMF iShares Diversified Commodity Swap UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPDV AAM S&P 500 High Dividend Value ETF	3.30%	3.85%	3.54%	3.95%	3.73%	3.08%	3.90%	3.54%	3.63%	0.28%

Frequently Asked Questions

Can I hold both SPDV and ISCMF in my portfolio?

SPDV and ISCMF have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPDV or ISCMF?

ISCMF has higher volatility (7.14%) compared to SPDV (2.96%). In terms of maximum drawdown, SPDV dropped -43.81% vs ISCMF's -25.42%.

Which ETF is better, SPDV or ISCMF?

On 3-year performance, SPDV leads with 17.01% vs 15.20% for ISCMF. On fees, ISCMF is cheaper at 0.19% per year. On volatility, SPDV has been the lower-risk option at 2.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPDV or ISCMF?

Over the 3-year period, SPDV has performed better with a 17.01% return vs 15.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPDV or ISCMF?

ISCMF is cheaper with a 0.19% expense ratio, compared with 0.29% for SPDV.

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

SPDV has the higher dividend yield at 3.30%, compared with 0.00% for ISCMF.

What is the main difference between SPDV and ISCMF?

SPDV is categorized as Dividend, while ISCMF is Commodities. SPDV tracks S&P 500 Dividend and Free Cash Flow Yield Index, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: Advisors Asset Management and iShares. Their fees differ too: 0.29% for SPDV and 0.19% for ISCMF.

Which has better risk-adjusted returns?

SPDV currently has the higher Sharpe Ratio (2.39 vs 2.05), 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.