USCI vs. IXC
USCI (United States Commodity Index Fund) and IXC (iShares Global Energy ETF) are both exchange-traded funds - USCI is a Commodities fund tracking the SummerHaven Dynamic Commodity Index Total Return, while IXC is a Energy Equities fund tracking the S&P Global 1200 Energy Capped Index. Both are passively managed. Over the past 10 years, USCI returned 8.41%/yr vs 8.83%/yr for IXC. A 0.55 correlation means they provide meaningful diversification when combined. USCI charges 1.03%/yr vs 0.40%/yr for IXC.
Performance
USCI vs. IXC - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with USCI having a 23.68% return and IXC slightly lower at 23.35%. Both investments have delivered pretty close results over the past 10 years, with USCI having a 8.41% annualized return and IXC not far ahead at 8.83%.
USCI
- 1D
- -0.50%
- 1M
- -0.05%
- 6M
- 22.70%
- YTD
- 23.68%
- 1Y
- 28.10%
- 3Y*
- 20.39%
- 5Y*
- 19.25%
- 10Y*
- 8.41%
IXC
- 1D
- 0.51%
- 1M
- -4.24%
- 6M
- 20.68%
- YTD
- 23.35%
- 1Y
- 29.02%
- 3Y*
- 14.69%
- 5Y*
- 18.91%
- 10Y*
- 8.83%
USCI vs. IXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USCI United States Commodity Index Fund | 23.68% | 17.63% | 17.24% | -0.00% | 29.47% | 33.07% | -11.47% | -1.68% | -11.76% | 6.32% |
IXC iShares Global Energy ETF | 23.35% | 13.98% | 1.95% | 3.92% | 48.51% | 40.88% | -31.00% | 12.67% | -14.85% | 5.54% |
Correlation
The correlation between USCI and IXC is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2010 | 0.55 |
The correlation between USCI and IXC has been stable across timeframes, ranging from 0.55 to 0.62 - a consistent structural relationship.
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Return for Risk
USCI vs. IXC — Risk / Return Rank
USCI
IXC
USCI vs. IXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Commodity Index Fund (USCI) and iShares Global Energy ETF (IXC). 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 | IXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.26 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 1.95 | +0.72 |
| Martin ratioReturn relative to average drawdown | 8.50 | 6.26 | +2.23 |
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Drawdowns
USCI vs. IXC - Drawdown Comparison
The maximum USCI drawdown since its inception was -66.41%, roughly equal to the maximum IXC drawdown of -67.88%. Use the drawdown chart below to compare losses from any high point for USCI and IXC.
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Drawdown Indicators
| USCI | IXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.41% | -67.88% | +1.47% |
Max Drawdown (1Y)Largest decline over 1 year | -11.19% | -15.36% | +4.17% |
Max Drawdown (3Y)Largest decline over 3 years | -12.01% | -19.06% | +7.05% |
Max Drawdown (5Y)Largest decline over 5 years | -18.84% | -24.93% | +6.09% |
Max Drawdown (10Y)Largest decline over 10 years | -45.82% | -64.16% | +18.34% |
Current DrawdownCurrent decline from peak | -6.52% | -11.22% | +4.70% |
Average DrawdownAverage peak-to-trough decline | -29.37% | -17.45% | -11.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 4.78% | -1.27% |
Volatility
USCI vs. IXC - Volatility Comparison
The current volatility for United States Commodity Index Fund (USCI) is 4.94%, while iShares Global Energy ETF (IXC) has a volatility of 6.59%. This indicates that USCI experiences smaller price fluctuations and is considered to be less risky than IXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USCI | IXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 6.59% | -1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 14.42% | 15.86% | -1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.91% | 19.18% | -2.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.40% | 23.45% | -5.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.88% | 26.81% | -10.93% |
USCI vs. IXC - Expense Ratio Comparison
USCI has a 1.03% expense ratio, which is higher than IXC's 0.40% expense ratio.
Dividends
USCI vs. IXC - Dividend Comparison
USCI has not paid dividends to shareholders, while IXC's dividend yield for the trailing twelve months is around 3.08%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IXC iShares Global Energy ETF | 3.08% | 3.68% | 4.56% | 3.45% | 4.76% | 3.98% | 4.86% | 7.00% | 3.51% | 3.05% | 2.86% | 3.77% |
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 IXC have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IXC has higher volatility (6.59%) compared to USCI (4.94%). In terms of maximum drawdown, USCI dropped -66.41% vs IXC's -67.88%.
On 10-year performance, IXC leads with 8.83% vs 8.41% for USCI. On fees, IXC is cheaper at 0.40% per year. On volatility, USCI has been the lower-risk option at 4.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IXC has performed better with a 8.83% return vs 8.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IXC is cheaper with a 0.40% expense ratio, compared with 1.03% for USCI.
IXC has the higher dividend yield at 3.08%, compared with 0.00% for USCI.
USCI is categorized as Commodities, while IXC is Energy Equities. USCI tracks SummerHaven Dynamic Commodity Index Total Return, while IXC tracks S&P Global 1200 Energy Capped Index. They also come from different issuers: United States Commodity Funds and iShares. Their fees differ too: 1.03% for USCI and 0.40% for IXC.
USCI currently has the higher Sharpe Ratio (1.77 vs 1.56), 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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