USCI vs. CCRV

Last updated Jun 24, 2026

USCI (United States Commodity Index Fund) and CCRV (iShares Commodity Curve Carry Strategy ETF) are both Commodities funds - USCI tracks the SummerHaven Dynamic Commodity (TR) while CCRV tracks the CCRV-US - ICE BofA Commodity Enhanced Carry Index. Both are passively managed. A 0.75 correlation means they provide meaningful diversification when combined. USCI charges 1.03%/yr vs 0.40%/yr for CCRV.

Performance

USCI vs. CCRV - Performance Comparison

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

Returns By Period

USCI

• 1D: -0.23%
• 1M: -7.10%
• YTD: 19.17%
• 6M: 17.13%
• 1Y: 24.71%
• 3Y*: 19.66%
• 5Y*: 18.39%
• 10Y*: 8.18%

CCRV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

USCI vs. CCRV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
USCI United States Commodity Index Fund	19.17%	17.63%	17.24%	-0.00%	29.47%	33.07%	6.13%
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	5.47%	19.91%	33.78%	7.16%

Correlation

The correlation between USCI and CCRV is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Sep 3, 2020	0.75

Over the past year, the correlation between USCI and CCRV has dropped to 0.18 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

USCI vs. CCRV — Risk / Return Rank

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

USCI

USCI Risk / Return Rank: 46
USCI Sharpe Ratio Rank: 45
USCI Sortino Ratio Rank: 42
USCI Omega Ratio Rank: 41
USCI Calmar Ratio Rank: 53
USCI Martin Ratio Rank: 52

CCRV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. CCRV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Commodity Index Fund (USCI) and iShares Commodity Curve Carry Strategy ETF (CCRV). 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.

	USCI	CCRV	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	2.04	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.50	—	—
Martin ratio: Return relative to average drawdown	8.53	—	—

Drawdowns

Drawdown Indicators

	USCI	CCRV	Difference
Max Drawdown Largest peak-to-trough decline	-66.41%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.94%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.84%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.82%	—	—
Current Drawdown Current decline from peak	-9.94%	—	—
Average Drawdown Average peak-to-trough decline	-29.43%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	—	—

Volatility

Volatility by Period

	USCI	CCRV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.03%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.73%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.35%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.85%	—	—

USCI vs. CCRV - Expense Ratio Comparison

USCI has a 1.03% expense ratio, which is higher than CCRV's 0.40% expense ratio.

Dividends

USCI vs. CCRV - Dividend Comparison

Neither USCI nor CCRV has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%
USCI United States Commodity Index Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USCI and CCRV in my portfolio?

USCI and CCRV have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USCI or CCRV?

On fees, CCRV is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USCI or CCRV?

CCRV is cheaper with a 0.40% expense ratio, compared with 1.03% for USCI.

Which ETF pays a higher dividend yield, USCI or CCRV?

USCI and CCRV have nearly identical dividend yields, around 0.00%.

What is the main difference between USCI and CCRV?

USCI tracks SummerHaven Dynamic Commodity (TR), while CCRV tracks CCRV-US - ICE BofA Commodity Enhanced Carry Index. They also come from different issuers: Concierge Technologies and iShares. Their fees differ too: 1.03% for USCI and 0.40% for CCRV.