TBLU vs. ISCMF
TBLU (Tortoise Global Water Fund) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - TBLU is a Water Equities fund tracking the Tortoise Global Water ESG Net Total Return Index, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past 3 years, TBLU returned 9.69%/yr vs 16.78%/yr for ISCMF. At a correlation of -0.05, they often move in opposite directions. TBLU charges 0.40%/yr vs 0.19%/yr for ISCMF.
Performance
TBLU vs. ISCMF - Performance Comparison
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Returns By Period
In the year-to-date period, TBLU achieves a -0.84% return, which is significantly lower than ISCMF's 22.87% return.
TBLU
- 1D
- -0.58%
- 1M
- 0.88%
- YTD
- -0.84%
- 6M
- -2.19%
- 1Y
- -0.84%
- 3Y*
- 9.69%
- 5Y*
- 4.24%
- 10Y*
- —
ISCMF
- 1D
- 0.00%
- 1M
- -4.99%
- YTD
- 22.87%
- 6M
- 22.87%
- 1Y
- 31.30%
- 3Y*
- 16.78%
- 5Y*
- —
- 10Y*
- —
TBLU vs. ISCMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TBLU Tortoise Global Water Fund | -0.84% | 11.82% | 8.54% | 20.95% | -10.66% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 22.87% | 19.65% | 3.13% | -9.58% | -5.82% |
Correlation
The correlation between TBLU and ISCMF is -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | -0.05 |
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Return for Risk
TBLU vs. ISCMF — Risk / Return Rank
TBLU
ISCMF
TBLU vs. ISCMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise Global Water Fund (TBLU) 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.
| TBLU | ISCMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -3.16 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 2.31 | -1.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 5.53 | -5.59 |
| Martin ratioReturn relative to average drawdown | -0.14 | 11.85 | -11.99 |
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Drawdowns
TBLU vs. ISCMF - Drawdown Comparison
The maximum TBLU drawdown since its inception was -37.58%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for TBLU and ISCMF.
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Drawdown Indicators
| TBLU | ISCMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.58% | -25.42% | -12.16% |
Max Drawdown (1Y)Largest decline over 1 year | -13.17% | -5.69% | -7.48% |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | -7.62% | -7.80% |
Max Drawdown (5Y)Largest decline over 5 years | -35.36% | — | — |
Current DrawdownCurrent decline from peak | -10.61% | -5.26% | -5.35% |
Average DrawdownAverage peak-to-trough decline | -8.16% | -13.35% | +5.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.98% | 2.65% | +3.33% |
Volatility
TBLU vs. ISCMF - Volatility Comparison
The current volatility for Tortoise Global Water Fund (TBLU) is 4.36%, while iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a volatility of 5.11%. This indicates that TBLU 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.
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Volatility by Period
| TBLU | ISCMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | 5.11% | -0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 11.78% | 15.45% | -3.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.73% | 17.84% | -3.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.35% | 14.29% | +3.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.95% | 14.29% | +4.66% |
TBLU vs. ISCMF - Expense Ratio Comparison
TBLU has a 0.40% expense ratio, which is higher than ISCMF's 0.19% expense ratio.
Dividends
TBLU vs. ISCMF - Dividend Comparison
TBLU's dividend yield for the trailing twelve months is around 3.33%, while ISCMF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ISCMF iShares Diversified Commodity Swap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TBLU Tortoise Global Water Fund | 3.33% | 3.31% | 1.34% | 1.46% | 1.64% | 1.55% | 1.42% | 1.58% | 1.35% | 1.32% |
Frequently Asked Questions
TBLU and ISCMF have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISCMF has higher volatility (5.11%) compared to TBLU (4.36%). In terms of maximum drawdown, TBLU dropped -37.58% vs ISCMF's -25.42%.
On 3-year performance, ISCMF leads with 16.78% vs 9.69% for TBLU. On fees, ISCMF is cheaper at 0.19% per year. On volatility, TBLU has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ISCMF has performed better with a 16.78% return vs 9.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISCMF is cheaper with a 0.19% expense ratio, compared with 0.40% for TBLU.
TBLU has the higher dividend yield at 3.33%, compared with 0.00% for ISCMF.
TBLU is categorized as Water Equities, while ISCMF is Commodities. TBLU tracks Tortoise Global Water ESG Net Total Return Index, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: Tortoise and iShares. Their fees differ too: 0.40% for TBLU and 0.19% for ISCMF.
ISCMF currently has the higher Sharpe Ratio (1.76 vs -0.06), 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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