PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
USCI vs. BYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USCI vs. BYLD

Last updated Jun 5, 2026

USCI (United States Commodity Index Fund) and BYLD (iShares Yield Optimized Bond ETF) are both exchange-traded funds - USCI is a Commodities fund tracking the SummerHaven Dynamic Commodity (TR), while BYLD is a Intermediate Core-Plus Bond fund tracking the Morningstar U.S. Bond Market Yield-Optimized Index. Both are passively managed. Over the past 10 years, USCI returned 8.62%/yr vs 2.99%/yr for BYLD. At a 0.06 correlation, their price movements are largely independent. USCI charges 1.03%/yr vs 0.17%/yr for BYLD.

Performance

USCI vs. BYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in United States Commodity Index Fund (USCI) and iShares Yield Optimized Bond ETF (BYLD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, USCI achieves a 26.41% return, which is significantly higher than BYLD's 1.37% return. Over the past 10 years, USCI has outperformed BYLD with an annualized return of 8.62%, while BYLD has yielded a comparatively lower 2.99% annualized return.

USCI

1D
-1.41%
1M
-2.86%
YTD
26.41%
6M
24.03%
1Y
38.42%
3Y*
22.48%
5Y*
18.94%
10Y*
8.62%

BYLD

1D
0.13%
1M
0.61%
YTD
1.37%
6M
1.48%
1Y
6.74%
3Y*
6.57%
5Y*
2.24%
10Y*
2.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USCI vs. BYLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USCI
United States Commodity Index Fund		26.41%17.63%17.24%-0.00%29.47%33.07%-11.47%-1.68%-11.76%6.32%
BYLD
iShares Yield Optimized Bond ETF		1.37%8.41%4.17%8.30%-10.33%-1.25%4.25%12.79%-1.50%4.75%

Correlation

The correlation between USCI and BYLD is -0.31, 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

-0.31

Correlation (3Y)
Calculated over the trailing 3-year period

-0.08

Correlation (5Y)
Calculated over the trailing 5-year period

-0.00

Correlation (10Y)
Calculated over the trailing 10-year period

0.06

Correlation (All Time)
Calculated using the full available price history since Apr 25, 2014

0.06

The correlation between USCI and BYLD shifts across timeframes, from -0.31 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

United States Commodity Index Fund

iShares Yield Optimized Bond ETF

Often compared with USCI:
USCI vs. DBCUSCI vs. SDCIUSCI vs. PDBCUSCI vs. SPYUSCI vs. VOOUSCI vs. CCRVUSCI vs. GLDM
Often compared with BYLD:
BYLD vs. IGEBBYLD vs. FBNDBYLD vs. BONDBYLD vs. TOTLBYLD vs. BNDBYLD vs. USHYBYLD vs. AGG

Return for Risk

USCI vs. BYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USCI
USCI Risk / Return Rank: 7373
Overall Rank
USCI Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
USCI Sortino Ratio Rank: 6565
Sortino Ratio Rank
USCI Omega Ratio Rank: 6565
Omega Ratio Rank
USCI Calmar Ratio Rank: 8383
Calmar Ratio Rank
USCI Martin Ratio Rank: 7979
Martin Ratio Rank
BYLD
BYLD Risk / Return Rank: 5555
Overall Rank
BYLD Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
BYLD Sortino Ratio Rank: 5757
Sortino Ratio Rank
BYLD Omega Ratio Rank: 5555
Omega Ratio Rank
BYLD Calmar Ratio Rank: 5151
Calmar Ratio Rank
BYLD Martin Ratio Rank: 5858
Martin Ratio Rank
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.

USCI vs. BYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Commodity Index Fund (USCI) and iShares Yield Optimized Bond ETF (BYLD). 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.

USCIBYLDDifference
Sharpe ratioReturn per unit of total volatility
2.30
1.78

+0.52

Sortino ratioReturn per unit of downside risk
2.96
2.65

+0.30

Omega ratioGain probability vs. loss probability

1.39

1.33

+0.05

Calmar ratioReturn relative to maximum drawdown

4.42

2.50

+1.92

Martin ratioReturn relative to average drawdown

15.31

10.15

+5.17

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USCI vs. BYLD - Sharpe Ratio Comparison

The current USCI Sharpe Ratio is 2.30, which is comparable to the BYLD Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of USCI and BYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

USCIBYLDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.30

1.78

+0.52

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.03

0.43

+0.60

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.55

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.29

0.57

-0.28

Drawdowns

USCI vs. BYLD - Drawdown Comparison

The maximum USCI drawdown since its inception was -66.41%, which is greater than BYLD's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for USCI and BYLD.

Loading charts...

Drawdown Indicators

USCIBYLDDifference

Max Drawdown

Largest peak-to-trough decline

-66.41%

-14.75%

-51.66%

Max Drawdown (1Y)

Largest decline over 1 year

-8.73%

-2.71%

-6.02%

Max Drawdown (3Y)

Largest decline over 3 years

-12.01%

-3.94%

-8.07%

Max Drawdown (5Y)

Largest decline over 5 years

-18.84%

-14.65%

-4.19%

Max Drawdown (10Y)

Largest decline over 10 years

-45.82%

-14.75%

-31.07%

Current Drawdown

Current decline from peak

-4.46%

-0.21%

-4.25%

Average Drawdown

Average peak-to-trough decline

-29.50%

-2.51%

-26.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.52%

0.67%

+1.85%

Volatility

USCI vs. BYLD - Volatility Comparison

United States Commodity Index Fund (USCI) has a higher volatility of 4.69% compared to iShares Yield Optimized Bond ETF (BYLD) at 1.42%. This indicates that USCI's price experiences larger fluctuations and is considered to be riskier than BYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

USCIBYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.69%

1.42%

+3.27%

Volatility (6M)

Calculated over the trailing 6-month period

14.00%

2.94%

+11.06%

Volatility (1Y)

Calculated over the trailing 1-year period

16.76%

3.82%

+12.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.44%

5.19%

+13.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.85%

5.43%

+10.42%

USCI vs. BYLD - Expense Ratio Comparison

USCI has a 1.03% expense ratio, which is higher than BYLD's 0.17% expense ratio.

Dividends

USCI vs. BYLD - Dividend Comparison

USCI has not paid dividends to shareholders, while BYLD's dividend yield for the trailing twelve months is around 5.35%.

PositionTTM20252024202320222021202020192018201720162015
BYLD
iShares Yield Optimized Bond ETF		5.35%5.32%5.31%4.45%3.39%2.18%3.41%3.67%4.22%3.22%3.14%3.37%
USCI
United States Commodity Index Fund		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

USCI and BYLD have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USCI has higher volatility (4.69%) compared to BYLD (1.42%). In terms of maximum drawdown, USCI dropped -66.41% vs BYLD's -14.75%.

On 10-year performance, USCI leads with 8.62% vs 2.99% for BYLD. On fees, BYLD is cheaper at 0.17% per year. On volatility, BYLD has been the lower-risk option at 1.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, USCI has performed better with a 8.62% return vs 2.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BYLD is cheaper with a 0.17% expense ratio, compared with 1.03% for USCI.

BYLD has the higher dividend yield at 5.35%, compared with 0.00% for USCI.

USCI is categorized as Commodities, while BYLD is Intermediate Core-Plus Bond. USCI tracks SummerHaven Dynamic Commodity (TR), while BYLD tracks Morningstar U.S. Bond Market Yield-Optimized Index. They also come from different issuers: Concierge Technologies and iShares. Their fees differ too: 1.03% for USCI and 0.17% for BYLD.

USCI currently has the higher Sharpe Ratio (2.30 vs 1.78), 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.

Portfolio Optimizer

Find the right allocation for USCI and BYLD

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer