SPMV vs. ISCMF

Last updated Jun 24, 2026

SPMV (Invesco S&P 500 Minimum Variance ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - SPMV is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. At a correlation of -0.03, they often move in opposite directions. SPMV charges 0.10%/yr vs 0.19%/yr for ISCMF.

Performance

SPMV vs. ISCMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Minimum Variance ETF (SPMV) and iShares Diversified Commodity Swap UCITS ETF (ISCMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPMV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ISCMF

• 1D: 0.00%
• 1M: -4.99%
• YTD: 22.87%
• 6M: 22.87%
• 1Y: 31.30%
• 3Y*: 16.78%
• 5Y*: —
• 10Y*: —

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

SPMV vs. ISCMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SPMV Invesco S&P 500 Minimum Variance ETF	0.87%	11.69%	18.78%	10.28%	-4.05%
ISCMF iShares Diversified Commodity Swap UCITS ETF	22.87%	19.65%	3.13%	-9.58%	-5.82%

Correlation

The correlation between SPMV and ISCMF is -0.03, 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	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022	-0.03

Return for Risk

SPMV vs. ISCMF — Risk / Return Rank

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

SPMV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ISCMF

ISCMF Risk / Return Rank: 78
ISCMF Sharpe Ratio Rank: 56
ISCMF Sortino Ratio Rank: 77
ISCMF Omega Ratio Rank: 98
ISCMF Calmar Ratio Rank: 92
ISCMF Martin Ratio Rank: 69

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.

SPMV vs. ISCMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Minimum Variance ETF (SPMV) 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.

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.

	SPMV	ISCMF	Difference
Sharpe ratio: Return per unit of total volatility	—	1.76	—
Sortino ratio: Return per unit of downside risk	—	3.18	—
Omega ratio: Gain probability vs. loss probability	—	2.31	—
Calmar ratio: Return relative to maximum drawdown	—	5.53	—
Martin ratio: Return relative to average drawdown	—	11.85	—

Drawdowns

Drawdown Indicators

	SPMV	ISCMF	Difference
Max Drawdown Largest peak-to-trough decline	—	-25.42%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-5.69%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.62%	—
Current Drawdown Current decline from peak	—	-5.26%	—
Average Drawdown Average peak-to-trough decline	—	-13.35%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.65%	—

Volatility

Volatility by Period

	SPMV	ISCMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.11%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	17.84%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	14.29%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	14.29%	—

SPMV vs. ISCMF - Expense Ratio Comparison

SPMV has a 0.10% expense ratio, which is lower than ISCMF's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPMV vs. ISCMF - Dividend Comparison

Neither SPMV nor ISCMF has 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%
SPMV Invesco S&P 500 Minimum Variance ETF	1.05%	1.53%	1.53%	2.28%	1.79%	1.28%	1.71%	3.13%	2.11%	1.72%

Frequently Asked Questions

Can I hold both SPMV and ISCMF in my portfolio?

SPMV and ISCMF have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPMV or ISCMF?

On fees, SPMV is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPMV or ISCMF?

SPMV is cheaper with a 0.10% expense ratio, compared with 0.19% for ISCMF.

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

SPMV has the higher dividend yield at 1.05%, compared with 0.00% for ISCMF.

What is the main difference between SPMV and ISCMF?

SPMV is categorized as S&P 500, while ISCMF is Commodities. SPMV tracks S&P 500 Minimum Volatility Index, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.10% for SPMV and 0.19% for ISCMF.