SQMX vs. ISCMF

Last updated Jun 23, 2026

SQMX (FT Vest U.S. Equity Quarterly Max Buffer ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - SQMX is a Defined Outcome fund tracking the S&P 500, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past year, SQMX returned 8.08% vs 31.30% for ISCMF. At a correlation of -0.01, they often move in opposite directions. SQMX charges 0.85%/yr vs 0.19%/yr for ISCMF.

Performance

SQMX vs. ISCMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Quarterly Max Buffer ETF (SQMX) 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, SQMX achieves a 2.27% return, which is significantly lower than ISCMF's 22.87% return.

SQMX

• 1D: -0.10%
• 1M: 0.22%
• YTD: 2.27%
• 6M: 2.33%
• 1Y: 8.08%
• 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)

SQMX vs. ISCMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SQMX FT Vest U.S. Equity Quarterly Max Buffer ETF	2.27%	8.58%	-0.27%
ISCMF iShares Diversified Commodity Swap UCITS ETF	22.87%	19.65%	0.00%

Correlation

The correlation between SQMX and ISCMF is -0.04, 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	-0.04
Correlation (All Time) Calculated using the full available price history since Dec 23, 2024	-0.01

Return for Risk

SQMX vs. ISCMF — Risk / Return Rank

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

SQMX

SQMX Risk / Return Rank: 84
SQMX Sharpe Ratio Rank: 79
SQMX Sortino Ratio Rank: 83
SQMX Omega Ratio Rank: 91
SQMX Calmar Ratio Rank: 80
SQMX Martin Ratio Rank: 85

ISCMF

ISCMF Risk / Return Rank: 77
ISCMF Sharpe Ratio Rank: 53
ISCMF Sortino Ratio Rank: 74
ISCMF Omega Ratio Rank: 98
ISCMF Calmar Ratio Rank: 91
ISCMF Martin Ratio Rank: 67

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.

SQMX vs. ISCMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Quarterly Max Buffer ETF (SQMX) 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.

	SQMX	ISCMF	Difference
Sharpe ratio: Return per unit of total volatility	2.43	1.76	+0.67
Sortino ratio: Return per unit of downside risk	3.50	3.18	+0.32
Omega ratio: Gain probability vs. loss probability	1.58	2.31	-0.73
Calmar ratio: Return relative to maximum drawdown	3.99	5.53	-1.54
Martin ratio: Return relative to average drawdown	17.05	11.95	+5.10

SQMX vs. ISCMF - Sharpe Ratio Comparison

The current SQMX Sharpe Ratio is 2.43, which is higher than the ISCMF Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of SQMX 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.

Drawdowns

SQMX vs. ISCMF - Drawdown Comparison

The maximum SQMX drawdown since its inception was -7.40%, smaller than the maximum ISCMF drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for SQMX and ISCMF.

Drawdown Indicators

	SQMX	ISCMF	Difference
Max Drawdown Largest peak-to-trough decline	-7.40%	-25.42%	+18.02%
Max Drawdown (1Y) Largest decline over 1 year	-2.04%	-5.69%	+3.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.62%	—
Current Drawdown Current decline from peak	-0.10%	-5.26%	+5.16%
Average Drawdown Average peak-to-trough decline	-0.53%	-13.36%	+12.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	2.63%	-2.15%

Volatility

SQMX vs. ISCMF - Volatility Comparison

The current volatility for FT Vest U.S. Equity Quarterly Max Buffer ETF (SQMX) is 0.19%, while iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a volatility of 5.11%. This indicates that SQMX 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

	SQMX	ISCMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.19%	5.11%	-4.92%
Volatility (6M) Calculated over the trailing 6-month period	2.50%	15.45%	-12.95%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	17.87%	-14.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.17%	14.29%	-8.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.17%	14.29%	-8.12%

SQMX vs. ISCMF - Expense Ratio Comparison

SQMX has a 0.85% expense ratio, which is higher than ISCMF's 0.19% expense ratio.

Dividends

SQMX vs. ISCMF - Dividend Comparison

Neither SQMX nor ISCMF has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SQMX and ISCMF in my portfolio?

SQMX and ISCMF have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SQMX or ISCMF?

ISCMF has higher volatility (5.11%) compared to SQMX (0.19%). In terms of maximum drawdown, SQMX dropped -7.40% vs ISCMF's -25.42%.

Which ETF is better, SQMX or ISCMF?

On 1-year performance, ISCMF leads with 31.30% vs 8.08% for SQMX. On fees, ISCMF is cheaper at 0.19% per year. On volatility, SQMX has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SQMX or ISCMF?

Over the 1-year period, ISCMF has performed better with a 31.30% return vs 8.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SQMX or ISCMF?

ISCMF is cheaper with a 0.19% expense ratio, compared with 0.85% for SQMX.

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

SQMX and ISCMF have nearly identical dividend yields, around 0.00%.

What is the main difference between SQMX and ISCMF?

SQMX is categorized as Defined Outcome, while ISCMF is Commodities. SQMX tracks S&P 500, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: FT Vest and iShares. Their fees differ too: 0.85% for SQMX and 0.19% for ISCMF.

Which has better risk-adjusted returns?

SQMX currently has the higher Sharpe Ratio (2.43 vs 1.76), 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.