USDX vs. USCI

Last updated Aug 2, 2026

USDX (SGI Enhanced Core ETF) and USCI (United States Commodity Index Fund) are both exchange-traded funds - USDX is a Intermediate Core Bond fund actively managed by Summit Global Investments, while USCI is a Commodities fund tracking the SummerHaven Dynamic Commodity Index Total Return. USDX is actively managed, while USCI is passively managed. Over the past year, USDX returned 6.38% vs 38.23% for USCI. Their -0.07 correlation means they have often moved in opposite directions in the past. USDX charges 0.98%/yr vs 1.03%/yr for USCI.

Performance

USDX vs. USCI - Performance Comparison

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

Returns By Period

In the year-to-date period, USDX achieves a 2.99% return, which is significantly lower than USCI's 30.16% return.

USDX

• 1D: 0.12%
• 1M: 0.49%
• 6M: 2.97%
• YTD: 2.99%
• 1Y: 6.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.69%

USCI

• 1D: 0.05%
• 1M: 9.65%
• 6M: 19.52%
• YTD: 30.16%
• 1Y: 38.23%
• 3Y*: 19.78%
• 5Y*: 19.95%
• 10Y*: 9.20%
• ALL TIME*: 4.50%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
USCI United States Commodity Index Fund	$1.01M	$1.13M	$1.88M
USDX SGI Enhanced Core ETF	$1.08M	$1.35M	$1.41M

USDX vs. USCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
USDX SGI Enhanced Core ETF	2.99%	6.25%	6.87%
USCI United States Commodity Index Fund	30.16%	17.63%	14.52%

Correlation

The correlation between USDX and USCI is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.12
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	-0.07

Return for Risk

USDX vs. USCI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

USDX

USDX Risk / Return Rank: 97
USDX Sharpe Ratio Rank: 96
USDX Sortino Ratio Rank: 97
USDX Omega Ratio Rank: 97
USDX Calmar Ratio Rank: 97
USDX Martin Ratio Rank: 98

USCI

USCI Risk / Return Rank: 84
USCI Sharpe Ratio Rank: 88
USCI Sortino Ratio Rank: 84
USCI Omega Ratio Rank: 84
USCI Calmar Ratio Rank: 85
USCI Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

USDX vs. USCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SGI Enhanced Core ETF (USDX) and United States Commodity Index Fund (USCI). 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.

	USDX	USCI	Difference
Sharpe ratio: Return per unit of total volatility	3.08	2.10	+0.98
Sortino ratio: Return per unit of downside risk	4.91	2.79	+2.12
Omega ratio: Gain probability vs. loss probability	1.75	1.36	+0.40
Calmar ratio: Return relative to maximum drawdown	6.89	3.22	+3.67
Martin ratio: Return relative to average drawdown	42.76	10.29	+32.46

USDX vs. USCI - Sharpe Ratio Comparison

The current USDX Sharpe Ratio is 3.08, which is higher than the USCI Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of USDX and USCI, 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

USDX vs. USCI - Drawdown Comparison

The maximum USDX drawdown since its inception was -0.94%, smaller than the maximum USCI drawdown of -66.41%. Use the drawdown chart below to compare losses from any high point for USDX and USCI.

Drawdown Indicators

	USDX	USCI	Difference
Max Drawdown Largest peak-to-trough decline	-0.94%	-66.41%	+65.47%
Max Drawdown (1Y) Largest decline over 1 year	-0.94%	-11.19%	+10.25%
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	0.00%	-1.85%	+1.85%
Average Drawdown Average peak-to-trough decline	-0.07%	-29.27%	+29.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.15%	3.50%	-3.35%

Volatility

USDX vs. USCI - Volatility Comparison

The current volatility for SGI Enhanced Core ETF (USDX) is 0.58%, while United States Commodity Index Fund (USCI) has a volatility of 5.30%. This indicates that USDX experiences smaller price fluctuations and is considered to be less risky than USCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USDX	USCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	5.30%	-4.72%
Volatility (6M) Calculated over the trailing 6-month period	1.67%	14.27%	-12.60%
Volatility (1Y) Calculated over the trailing 1-year period	2.10%	17.21%	-15.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.76%	18.42%	-16.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.76%	15.91%	-14.15%

USDX vs. USCI - Expense Ratio Comparison

USDX has a 0.98% expense ratio, which is lower than USCI's 1.03% expense ratio.

Dividends

USDX vs. USCI - Dividend Comparison

USDX's dividend yield for the trailing twelve months is around 6.66%, while USCI has not paid dividends to shareholders.

Position	TTM	2025	2024
USCI United States Commodity Index Fund	0.00%	0.00%	0.00%
USDX SGI Enhanced Core ETF	6.66%	5.88%	4.60%

Frequently Asked Questions

Can I hold both USDX and USCI in my portfolio?

USDX and USCI have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USDX or USCI?

USCI has higher volatility (5.30%) compared to USDX (0.58%). In terms of maximum drawdown, USDX dropped -0.94% vs USCI's -66.41%.

Which ETF is better, USDX or USCI?

On 1-year performance, USCI leads with 38.23% vs 6.38% for USDX. On fees, USDX is cheaper at 0.98% per year. On volatility, USDX has been the lower-risk option at 0.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USDX or USCI?

Over the 1-year period, USCI has performed better with a 38.23% return vs 6.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USDX or USCI?

USDX is cheaper with a 0.98% expense ratio, compared with 1.03% for USCI.

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

USDX has the higher dividend yield at 6.66%, compared with 0.00% for USCI.

What is the main difference between USDX and USCI?

USDX is categorized as Intermediate Core Bond, while USCI is Commodities. They also come from different issuers: Summit Global Investments and USCF. Their fees differ too: 0.98% for USDX and 1.03% for USCI.

Which has better risk-adjusted returns?

USDX currently has the higher Sharpe Ratio (3.08 vs 2.10), 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.