UPGR vs. ISCMF

Last updated Jun 24, 2026

UPGR (Xtrackers US Green Infrastructure Select Equity ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - UPGR is a Energy Equities fund tracking the Solactive United States Green Infrastructure ESG Screened Index - Benchmark TR Gross, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past year, UPGR returned 54.50% vs 31.30% for ISCMF. At a correlation of -0.01, they often move in opposite directions. UPGR charges 0.35%/yr vs 0.19%/yr for ISCMF.

Performance

UPGR vs. ISCMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers US Green Infrastructure Select Equity ETF (UPGR) 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, UPGR achieves a 11.86% return, which is significantly lower than ISCMF's 22.87% return.

UPGR

• 1D: -3.65%
• 1M: -4.59%
• YTD: 11.86%
• 6M: 7.79%
• 1Y: 54.50%
• 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)

UPGR vs. ISCMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UPGR Xtrackers US Green Infrastructure Select Equity ETF	11.86%	35.25%	-14.72%	-15.29%
ISCMF iShares Diversified Commodity Swap UCITS ETF	22.87%	19.65%	3.13%	-1.49%

Correlation

The correlation between UPGR and ISCMF is -0.06, 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	-0.06
Correlation (All Time) Calculated using the full available price history since Jul 13, 2023	-0.01

Return for Risk

UPGR vs. ISCMF — Risk / Return Rank

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

UPGR

UPGR Risk / Return Rank: 54
UPGR Sharpe Ratio Rank: 55
UPGR Sortino Ratio Rank: 50
UPGR Omega Ratio Rank: 47
UPGR Calmar Ratio Rank: 70
UPGR Martin Ratio Rank: 48

ISCMF

ISCMF Risk / Return Rank: 78
ISCMF Sharpe Ratio Rank: 56
ISCMF Sortino Ratio Rank: 77
ISCMF Omega Ratio Rank: 98
ISCMF Calmar Ratio Rank: 92
ISCMF Martin Ratio Rank: 69

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.

UPGR vs. ISCMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers US Green Infrastructure Select Equity ETF (UPGR) 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.

	UPGR	ISCMF	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.76	-0.03
Sortino ratio: Return per unit of downside risk	2.31	3.18	-0.87
Omega ratio: Gain probability vs. loss probability	1.28	2.31	-1.03
Calmar ratio: Return relative to maximum drawdown	3.31	5.53	-2.22
Martin ratio: Return relative to average drawdown	7.71	11.85	-4.14

UPGR vs. ISCMF - Sharpe Ratio Comparison

The current UPGR Sharpe Ratio is 1.73, which is comparable to the ISCMF Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of UPGR 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

UPGR vs. ISCMF - Drawdown Comparison

The maximum UPGR drawdown since its inception was -46.60%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for UPGR and ISCMF.

Drawdown Indicators

	UPGR	ISCMF	Difference
Max Drawdown Largest peak-to-trough decline	-46.60%	-25.42%	-21.18%
Max Drawdown (1Y) Largest decline over 1 year	-16.55%	-5.69%	-10.86%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.62%	—
Current Drawdown Current decline from peak	-10.70%	-5.26%	-5.44%
Average Drawdown Average peak-to-trough decline	-20.31%	-13.35%	-6.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.09%	2.65%	+4.44%

Volatility

UPGR vs. ISCMF - Volatility Comparison

Xtrackers US Green Infrastructure Select Equity ETF (UPGR) has a higher volatility of 12.24% compared to iShares Diversified Commodity Swap UCITS ETF (ISCMF) at 5.11%. This indicates that UPGR's price experiences larger fluctuations and is considered to be riskier than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UPGR	ISCMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.24%	5.11%	+7.13%
Volatility (6M) Calculated over the trailing 6-month period	22.16%	15.45%	+6.71%
Volatility (1Y) Calculated over the trailing 1-year period	31.65%	17.84%	+13.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.85%	14.29%	+16.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.85%	14.29%	+16.56%

UPGR vs. ISCMF - Expense Ratio Comparison

UPGR has a 0.35% expense ratio, which is higher than ISCMF's 0.19% expense ratio.

Dividends

UPGR vs. ISCMF - Dividend Comparison

UPGR's dividend yield for the trailing twelve months is around 0.29%, while ISCMF has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
ISCMF iShares Diversified Commodity Swap UCITS ETF	0.00%	0.00%	0.00%	0.00%
UPGR Xtrackers US Green Infrastructure Select Equity ETF	0.29%	0.39%	1.16%	0.32%

Frequently Asked Questions

Can I hold both UPGR and ISCMF in my portfolio?

UPGR and ISCMF have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UPGR or ISCMF?

UPGR has higher volatility (12.24%) compared to ISCMF (5.11%). In terms of maximum drawdown, UPGR dropped -46.60% vs ISCMF's -25.42%.

Which ETF is better, UPGR or ISCMF?

On 1-year performance, UPGR leads with 54.50% vs 31.30% for ISCMF. On fees, ISCMF is cheaper at 0.19% per year. On volatility, ISCMF has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UPGR or ISCMF?

Over the 1-year period, UPGR has performed better with a 54.50% return vs 31.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UPGR or ISCMF?

ISCMF is cheaper with a 0.19% expense ratio, compared with 0.35% for UPGR.

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

UPGR has the higher dividend yield at 0.29%, compared with 0.00% for ISCMF.

What is the main difference between UPGR and ISCMF?

UPGR is categorized as Energy Equities, while ISCMF is Commodities. UPGR tracks Solactive United States Green Infrastructure ESG Screened Index - Benchmark TR Gross, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.35% for UPGR and 0.19% for ISCMF.

Which has better risk-adjusted returns?

ISCMF currently has the higher Sharpe Ratio (1.76 vs 1.73), 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.