SPXE vs. DJP

Last updated Jul 17, 2026

SPXE (ProShares S&P 500 Ex-Energy ETF) and DJP (iPath Bloomberg Commodity Index Total Return ETN) are both exchange-traded funds - SPXE is a S&P 500 fund tracking the S&P 500 Ex-Energy Index, while DJP is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. At a 0.00 correlation, their price movements are largely independent. SPXE charges 0.09%/yr vs 0.70%/yr for DJP.

Performance

SPXE vs. DJP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Ex-Energy ETF (SPXE) and iPath Bloomberg Commodity Index Total Return ETN (DJP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPXE

• 1D: -0.59%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DJP

• 1D: -1.20%
• 1M: 1.74%
• 6M: 17.82%
• YTD: 23.08%
• 1Y: 32.88%
• 3Y*: 13.81%
• 5Y*: 11.31%
• 10Y*: 6.81%

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

SPXE vs. DJP - Yearly Performance Comparison

	2026 (YTD)
SPXE ProShares S&P 500 Ex-Energy ETF	-0.65%
DJP iPath Bloomberg Commodity Index Total Return ETN	2.28%

Correlation

The correlation between SPXE and DJP is 0.00, 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 (All Time) Calculated using the full available price history since Jul 10, 2026	0.00

Return for Risk

SPXE vs. DJP — Risk / Return Rank

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

SPXE

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

DJP

DJP Risk / Return Rank: 57
DJP Sharpe Ratio Rank: 65
DJP Sortino Ratio Rank: 58
DJP Omega Ratio Rank: 62
DJP Calmar Ratio Rank: 49
DJP Martin Ratio Rank: 49

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.

SPXE vs. DJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Ex-Energy ETF (SPXE) 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.

	SPXE	DJP	Difference
Sharpe ratio: Return per unit of total volatility	—	1.70	—
Sortino ratio: Return per unit of downside risk	—	2.24	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.01	—
Martin ratio: Return relative to average drawdown	—	6.53	—

Drawdowns

SPXE vs. DJP - Drawdown Comparison

The maximum SPXE drawdown since its inception was -0.87%, smaller than the maximum DJP drawdown of -78.35%. Use the drawdown chart below to compare losses from any high point for SPXE and DJP.

Drawdown Indicators

	SPXE	DJP	Difference
Max Drawdown Largest peak-to-trough decline	-0.87%	-78.35%	+77.48%
Max Drawdown (1Y) Largest decline over 1 year	—	-16.42%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.36%	—
Current Drawdown Current decline from peak	-0.75%	-36.70%	+35.95%
Average Drawdown Average peak-to-trough decline	-0.46%	-50.78%	+50.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.05%	—

Volatility

Volatility by Period

	SPXE	DJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.92%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.00%	19.47%	-10.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.00%	19.02%	-10.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.00%	17.05%	-8.05%

SPXE vs. DJP - Expense Ratio Comparison

SPXE has a 0.09% expense ratio, which is lower than DJP's 0.70% expense ratio.

Dividends

SPXE vs. DJP - Dividend Comparison

Neither SPXE nor DJP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPXE and DJP in my portfolio?

SPXE and DJP have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPXE or DJP?

On fees, SPXE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXE or DJP?

SPXE is cheaper with a 0.09% expense ratio, compared with 0.70% for DJP.

Which ETF pays a higher dividend yield, SPXE or DJP?

SPXE and DJP have nearly identical dividend yields, around 0.00%.

What is the main difference between SPXE and DJP?

SPXE is categorized as S&P 500, while DJP is Commodities. SPXE tracks S&P 500 Ex-Energy Index, while DJP tracks Bloomberg Commodity Index. They also come from different issuers: ProShares and Barclays Capital. Their fees differ too: 0.09% for SPXE and 0.70% for DJP.