TBJL vs. COM
TBJL (Innovator 20+ Year Treasury Bond Buffer ETF – July) and COM (Direxion Auspice Broad Commodity Strategy ETF) are both exchange-traded funds - TBJL is a Defined Outcome fund tracking the iShares 20+ Year Treasury Bond ETF, while COM is a Commodities fund tracking the Auspice Broad Commodity ER Index. Both are passively managed. Over the past 5 years, TBJL returned -3.58%/yr vs 8.18%/yr for COM. At a correlation of -0.05, they often move in opposite directions. TBJL charges 0.79%/yr vs 0.70%/yr for COM.
Performance
TBJL vs. COM - Performance Comparison
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Returns By Period
In the year-to-date period, TBJL achieves a -0.40% return, which is significantly lower than COM's 12.48% return.
TBJL
- 1D
- 0.13%
- 1M
- 0.33%
- YTD
- -0.40%
- 6M
- -0.30%
- 1Y
- -0.80%
- 3Y*
- -1.54%
- 5Y*
- -3.58%
- 10Y*
- —
COM
- 1D
- -0.24%
- 1M
- -3.92%
- YTD
- 12.48%
- 6M
- 12.53%
- 1Y
- 18.69%
- 3Y*
- 6.70%
- 5Y*
- 8.18%
- 10Y*
- —
TBJL vs. COM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TBJL Innovator 20+ Year Treasury Bond Buffer ETF – July | -0.40% | 1.74% | -3.16% | 4.12% | -20.82% | -0.32% | -1.68% |
COM Direxion Auspice Broad Commodity Strategy ETF | 12.48% | 7.72% | 5.81% | -2.09% | 9.17% | 28.00% | 11.35% |
Correlation
The correlation between TBJL and COM is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2020 | -0.05 |
The correlation between TBJL and COM shifts across timeframes, from -0.21 (1 year) to -0.04 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TBJL vs. COM — Risk / Return Rank
TBJL
COM
TBJL vs. COM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator 20+ Year Treasury Bond Buffer ETF – July (TBJL) and Direxion Auspice Broad Commodity Strategy ETF (COM). 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.
| TBJL | COM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.92 | ||
| Sortino ratioReturn per unit of downside risk | -2.57 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.33 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 2.76 | -2.94 |
| Martin ratioReturn relative to average drawdown | -0.31 | 9.09 | -9.40 |
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Drawdowns
TBJL vs. COM - Drawdown Comparison
The maximum TBJL drawdown since its inception was -29.36%, which is greater than COM's maximum drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for TBJL and COM.
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Drawdown Indicators
| TBJL | COM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.36% | -15.95% | -13.41% |
Max Drawdown (1Y)Largest decline over 1 year | -4.46% | -6.81% | +2.35% |
Max Drawdown (3Y)Largest decline over 3 years | -15.01% | -8.50% | -6.51% |
Max Drawdown (5Y)Largest decline over 5 years | -28.57% | -14.02% | -14.55% |
Current DrawdownCurrent decline from peak | -20.90% | -6.61% | -14.29% |
Average DrawdownAverage peak-to-trough decline | -15.66% | -6.28% | -9.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 2.10% | +0.52% |
Volatility
TBJL vs. COM - Volatility Comparison
The current volatility for Innovator 20+ Year Treasury Bond Buffer ETF – July (TBJL) is 0.50%, while Direxion Auspice Broad Commodity Strategy ETF (COM) has a volatility of 2.13%. This indicates that TBJL experiences smaller price fluctuations and is considered to be less risky than COM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBJL | COM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 2.13% | -1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 8.54% | -5.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.92% | 10.54% | -4.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.81% | 9.53% | +1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.62% | 9.76% | +0.86% |
TBJL vs. COM - Expense Ratio Comparison
TBJL has a 0.79% expense ratio, which is higher than COM's 0.70% expense ratio.
Dividends
TBJL vs. COM - Dividend Comparison
TBJL has not paid dividends to shareholders, while COM's dividend yield for the trailing twelve months is around 2.51%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COM Direxion Auspice Broad Commodity Strategy ETF | 2.51% | 2.99% | 3.88% | 3.80% | 8.59% | 10.32% | 0.13% | 1.09% | 2.36% | 0.09% |
TBJL Innovator 20+ Year Treasury Bond Buffer ETF – July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TBJL and COM have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COM has higher volatility (2.13%) compared to TBJL (0.50%). In terms of maximum drawdown, TBJL dropped -29.36% vs COM's -15.95%.
On 5-year performance, COM leads with 8.18% vs -3.58% for TBJL. On fees, COM is cheaper at 0.70% per year. On volatility, TBJL has been the lower-risk option at 0.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, COM has performed better with a 8.18% return vs -3.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COM is cheaper with a 0.70% expense ratio, compared with 0.79% for TBJL.
COM has the higher dividend yield at 2.51%, compared with 0.00% for TBJL.
TBJL is categorized as Defined Outcome, while COM is Commodities. TBJL tracks iShares 20+ Year Treasury Bond ETF, while COM tracks Auspice Broad Commodity ER Index. They also come from different issuers: Innovator and Direxion. Their fees differ too: 0.79% for TBJL and 0.70% for COM.
COM currently has the higher Sharpe Ratio (1.79 vs -0.14), 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.
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