USCI vs. PIT

Last updated Jun 4, 2026

USCI (United States Commodity Index Fund) and PIT (VanEck Commodity Strategy ETF) are both Commodities funds. USCI is passively managed, while PIT is actively managed. Over the past 3 years, USCI returned 23.15%/yr vs 24.30%/yr for PIT. Their correlation of 0.88 suggests significant overlap in exposure. USCI charges 1.03%/yr vs 0.55%/yr for PIT.

Performance

USCI vs. PIT - Performance Comparison

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

Returns By Period

In the year-to-date period, USCI achieves a 28.22% return, which is significantly lower than PIT's 41.36% return.

USCI

• 1D: 0.11%
• 1M: -1.22%
• YTD: 28.22%
• 6M: 26.35%
• 1Y: 40.33%
• 3Y*: 23.15%
• 5Y*: 19.28%
• 10Y*: 8.86%

PIT

• 1D: 0.58%
• 1M: -2.84%
• YTD: 41.36%
• 6M: 42.58%
• 1Y: 62.93%
• 3Y*: 24.30%
• 5Y*: —
• 10Y*: —

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

USCI vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
USCI United States Commodity Index Fund	28.22%	17.63%	17.24%	-0.00%	2.44%
PIT VanEck Commodity Strategy ETF	41.36%	21.63%	6.77%	-4.54%	2.74%

Correlation

The correlation between USCI and PIT is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Dec 23, 2022	0.88

The correlation between USCI and PIT has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

Return for Risk

USCI vs. PIT — Risk / Return Rank

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

USCI

USCI Risk / Return Rank: 74
USCI Sharpe Ratio Rank: 73
USCI Sortino Ratio Rank: 66
USCI Omega Ratio Rank: 66
USCI Calmar Ratio Rank: 84
USCI Martin Ratio Rank: 81

PIT

PIT Risk / Return Rank: 87
PIT Sharpe Ratio Rank: 88
PIT Sortino Ratio Rank: 77
PIT Omega Ratio Rank: 84
PIT Calmar Ratio Rank: 93
PIT Martin Ratio Rank: 92

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. PIT - Risk-Adjusted Trends Comparison

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

	USCI	PIT	Difference
Sharpe ratio: Return per unit of total volatility	2.43	2.97	-0.54
Sortino ratio: Return per unit of downside risk	3.10	3.53	-0.43
Omega ratio: Gain probability vs. loss probability	1.41	1.52	-0.11
Calmar ratio: Return relative to maximum drawdown	4.64	6.83	-2.19
Martin ratio: Return relative to average drawdown	16.18	23.27	-7.09
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. PIT - Sharpe Ratio Comparison

The current USCI Sharpe Ratio is 2.43, which is comparable to the PIT Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of USCI and PIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	USCI	PIT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	2.97	-0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	1.07	-0.77

Drawdowns

USCI vs. PIT - Drawdown Comparison

The maximum USCI drawdown since its inception was -66.41%, which is greater than PIT's maximum drawdown of -12.27%. Use the drawdown chart below to compare losses from any high point for USCI and PIT.

Drawdown Indicators

	USCI	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-66.41%	-12.27%	-54.14%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-9.27%	+0.54%
Max Drawdown (3Y) Largest decline over 3 years	-12.01%	-12.27%	+0.26%
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	-3.10%	-4.56%	+1.46%
Average Drawdown Average peak-to-trough decline	-29.51%	-3.99%	-25.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	2.71%	-0.21%

Volatility

USCI vs. PIT - Volatility Comparison

The current volatility for United States Commodity Index Fund (USCI) is 4.51%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 6.08%. This indicates that USCI experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USCI	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	6.08%	-1.57%
Volatility (6M) Calculated over the trailing 6-month period	13.93%	19.02%	-5.09%
Volatility (1Y) Calculated over the trailing 1-year period	16.70%	21.30%	-4.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.44%	17.47%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.85%	17.47%	-1.62%

USCI vs. PIT - Expense Ratio Comparison

USCI has a 1.03% expense ratio, which is higher than PIT's 0.55% expense ratio.

Dividends

USCI vs. PIT - Dividend Comparison

USCI has not paid dividends to shareholders, while PIT's dividend yield for the trailing twelve months is around 6.31%.

Position	TTM	2025	2024	2023
PIT VanEck Commodity Strategy ETF	6.31%	8.92%	3.59%	6.44%
USCI United States Commodity Index Fund	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USCI and PIT in my portfolio?

With a correlation of 0.91, USCI and PIT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, USCI or PIT?

PIT has higher volatility (6.08%) compared to USCI (4.51%). In terms of maximum drawdown, USCI dropped -66.41% vs PIT's -12.27%.

Which ETF is better, USCI or PIT?

On 3-year performance, PIT leads with 24.30% vs 23.15% for USCI. On fees, PIT is cheaper at 0.55% per year. On volatility, USCI has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USCI or PIT?

Over the 3-year period, PIT has performed better with a 24.30% return vs 23.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USCI or PIT?

PIT is cheaper with a 0.55% expense ratio, compared with 1.03% for USCI.

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

PIT has the higher dividend yield at 6.31%, compared with 0.00% for USCI.

What is the main difference between USCI and PIT?

They also come from different issuers: Concierge Technologies and VanEck. Their fees differ too: 1.03% for USCI and 0.55% for PIT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (2.97 vs 2.43), 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.