TBLU vs. DCMT
TBLU (Tortoise Global Water Fund) and DCMT (DoubleLine Commodity Strategy ETF) are both exchange-traded funds - TBLU is a Water Equities fund tracking the Tortoise Global Water ESG Net Total Return Index, while DCMT is a Commodities fund actively managed by DoubleLine. TBLU is passively managed, while DCMT is actively managed. Over the past year, TBLU returned 2.81% vs 29.63% for DCMT. Their -0.04 correlation means they have often moved in opposite directions in the past. TBLU charges 0.40%/yr vs 0.66%/yr for DCMT.
Performance
TBLU vs. DCMT - Performance Comparison
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Returns By Period
In the year-to-date period, TBLU achieves a 4.97% return, which is significantly lower than DCMT's 24.74% return.
TBLU
- 1D
- 1.93%
- 1M
- 1.77%
- 6M
- -1.46%
- YTD
- 4.97%
- 1Y
- 2.81%
- 3Y*
- 10.79%
- 5Y*
- 3.96%
- 10Y*
- —
- ALL TIME*
- 10.11%
DCMT
- 1D
- -1.11%
- 1M
- 6.02%
- 6M
- 16.61%
- YTD
- 24.74%
- 1Y
- 29.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $307.72K | $268.91K | $199.57K | |
| $70.51K | $63.53K | $112.51K |
TBLU vs. DCMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TBLU Tortoise Global Water Fund | 4.97% | 11.82% | 11.99% |
DCMT DoubleLine Commodity Strategy ETF | 24.74% | 6.04% | 3.65% |
Correlation
The correlation between TBLU and DCMT is -0.26, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.26 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024 | -0.04 |
Over the past year, the inverse relationship between TBLU and DCMT has strengthened: their correlation has moved from -0.04 to -0.26, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
TBLU vs. DCMT — Risk / Return Rank
TBLU
DCMT
TBLU vs. DCMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise Global Water Fund (TBLU) and DoubleLine Commodity Strategy ETF (DCMT). 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.
| TBLU | DCMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.38 | ||
| Sortino ratioReturn per unit of downside risk | -1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.27 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.21 | 1.86 | -1.65 |
| Martin ratioReturn relative to average drawdown | 0.43 | 6.16 | -5.73 |
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Drawdowns
TBLU vs. DCMT - Drawdown Comparison
The maximum TBLU drawdown since its inception was -37.58%, which is greater than DCMT's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for TBLU and DCMT.
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Drawdown Indicators
| TBLU | DCMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.58% | -15.96% | -21.62% |
Max Drawdown (1Y)Largest decline over 1 year | -13.17% | -15.96% | +2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -35.36% | — | — |
Current DrawdownCurrent decline from peak | -5.37% | -10.46% | +5.09% |
Average DrawdownAverage peak-to-trough decline | -8.15% | -3.63% | -4.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.55% | 4.82% | +1.73% |
Volatility
TBLU vs. DCMT - Volatility Comparison
The current volatility for Tortoise Global Water Fund (TBLU) is 4.96%, while DoubleLine Commodity Strategy ETF (DCMT) has a volatility of 5.57%. This indicates that TBLU experiences smaller price fluctuations and is considered to be less risky than DCMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBLU | DCMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.96% | 5.57% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 12.07% | 16.66% | -4.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.32% | 19.04% | -3.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.44% | 16.06% | +1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.91% | 16.06% | +2.85% |
TBLU vs. DCMT - Expense Ratio Comparison
TBLU has a 0.40% expense ratio, which is lower than DCMT's 0.66% expense ratio.
Dividends
TBLU vs. DCMT - Dividend Comparison
TBLU's dividend yield for the trailing twelve months is around 3.37%, more than DCMT's 2.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DCMT DoubleLine Commodity Strategy ETF | 2.94% | 3.67% | 1.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TBLU Tortoise Global Water Fund | 3.37% | 3.31% | 1.34% | 1.46% | 1.64% | 1.55% | 1.42% | 1.58% | 1.35% | 1.32% |
Frequently Asked Questions
TBLU and DCMT have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DCMT has higher volatility (5.57%) compared to TBLU (4.96%). In terms of maximum drawdown, TBLU dropped -37.58% vs DCMT's -15.96%.
On 1-year performance, DCMT leads with 29.63% vs 2.81% for TBLU. On fees, TBLU is cheaper at 0.40% per year. On volatility, TBLU has been the lower-risk option at 4.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DCMT has performed better with a 29.63% return vs 2.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TBLU is cheaper with a 0.40% expense ratio, compared with 0.66% for DCMT.
TBLU has the higher dividend yield at 3.37%, compared with 2.94% for DCMT.
TBLU is categorized as Water Equities, while DCMT is Commodities. They also come from different issuers: Tortoise and DoubleLine. Their fees differ too: 0.40% for TBLU and 0.66% for DCMT.
DCMT currently has the higher Sharpe Ratio (1.56 vs 0.18), 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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