SPXE vs. SDCI
Compare and contrast key facts about ProShares S&P 500 Ex-Energy ETF (SPXE) and USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI).
SPXE and SDCI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPXE is a passively managed fund by ProShares that tracks the performance of the S&P 500 Ex-Energy Index. It was launched on Sep 22, 2015. SDCI is an actively managed fund by Wainwright, Inc.. It was launched on May 3, 2018.
Performance
SPXE vs. SDCI - Performance Comparison
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SPXE vs. SDCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPXE ProShares S&P 500 Ex-Energy ETF | -4.77% | 18.03% | 25.72% | 27.71% | -20.58% | 27.93% | 20.62% | 32.45% | -3.24% |
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 22.70% | 17.60% | 17.91% | -0.88% | 33.23% | 36.52% | -10.61% | -2.36% | -13.91% |
Returns By Period
In the year-to-date period, SPXE achieves a -4.77% return, which is significantly lower than SDCI's 22.70% return.
SPXE
- 1D
- 0.98%
- 1M
- -4.65%
- YTD
- -4.77%
- 6M
- -2.60%
- 1Y
- 17.68%
- 3Y*
- 18.61%
- 5Y*
- 11.43%
- 10Y*
- 14.20%
SDCI
- 1D
- -0.77%
- 1M
- 9.08%
- YTD
- 22.70%
- 6M
- 21.72%
- 1Y
- 29.96%
- 3Y*
- 21.13%
- 5Y*
- 22.45%
- 10Y*
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SPXE vs. SDCI - Expense Ratio Comparison
SPXE has a 0.27% expense ratio, which is lower than SDCI's 0.70% expense ratio.
Return for Risk
SPXE vs. SDCI — Risk / Return Rank
SPXE
SDCI
SPXE vs. SDCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Ex-Energy ETF (SPXE) and USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI). 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.
| SPXE | SDCI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 1.65 | -0.69 |
Sortino ratioReturn per unit of downside risk | 1.48 | 2.16 | -0.68 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.28 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.68 | -1.18 |
Martin ratioReturn relative to average drawdown | 6.61 | 9.09 | -2.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPXE | SDCI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 1.65 | -0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 1.22 | -0.54 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.65 | +0.17 |
Correlation
The correlation between SPXE and SDCI is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SPXE vs. SDCI - Dividend Comparison
SPXE's dividend yield for the trailing twelve months is around 1.06%, less than SDCI's 3.00% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPXE ProShares S&P 500 Ex-Energy ETF | 1.06% | 0.99% | 1.09% | 1.29% | 1.49% | 0.94% | 1.16% | 1.38% | 1.61% | 1.65% | 1.53% | 0.51% |
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 3.00% | 3.68% | 5.92% | 3.46% | 33.49% | 19.26% | 0.20% | 0.93% | 0.68% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPXE vs. SDCI - Drawdown Comparison
The maximum SPXE drawdown since its inception was -32.27%, smaller than the maximum SDCI drawdown of -45.79%. Use the drawdown chart below to compare losses from any high point for SPXE and SDCI.
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Drawdown Indicators
| SPXE | SDCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.27% | -45.79% | +13.52% |
Max Drawdown (1Y)Largest decline over 1 year | -11.98% | -11.96% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -26.50% | -18.55% | -7.95% |
Max Drawdown (10Y)Largest decline over 10 years | -32.27% | — | — |
Current DrawdownCurrent decline from peak | -6.50% | -1.06% | -5.44% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -11.80% | +7.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.72% | 3.52% | -0.80% |
Volatility
SPXE vs. SDCI - Volatility Comparison
The current volatility for ProShares S&P 500 Ex-Energy ETF (SPXE) is 5.64%, while USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) has a volatility of 7.05%. This indicates that SPXE experiences smaller price fluctuations and is considered to be less risky than SDCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPXE | SDCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 7.05% | -1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 9.92% | 13.92% | -4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.51% | 18.34% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.90% | 18.45% | -1.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.38% | 17.11% | +0.27% |