VNM vs. DCMT

Last updated Jul 15, 2026

VNM (VanEck Vectors Vietnam ETF) and DCMT (DoubleLine Commodity Strategy ETF) are both exchange-traded funds - VNM is a Asia Pacific Equities fund tracking the MVIS Vietnam Index, while DCMT is a Commodities fund actively managed by DoubleLine. VNM is passively managed, while DCMT is actively managed. Over the past year, VNM returned 16.18% vs 30.32% for DCMT. At a correlation of -0.06, they often move in opposite directions. VNM charges 0.68%/yr vs 0.66%/yr for DCMT.

Performance

VNM vs. DCMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Vietnam ETF (VNM) and DoubleLine Commodity Strategy ETF (DCMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VNM achieves a -7.39% return, which is significantly lower than DCMT's 26.67% return.

VNM

• 1D: 0.80%
• 1M: -0.79%
• 6M: -10.76%
• YTD: -7.39%
• 1Y: 16.18%
• 3Y*: 9.93%
• 5Y*: -0.46%
• 10Y*: 2.77%

DCMT

• 1D: 0.74%
• 1M: 0.21%
• 6M: 21.69%
• YTD: 26.67%
• 1Y: 30.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VNM vs. DCMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VNM VanEck Vectors Vietnam ETF	-7.39%	66.55%	-9.61%
DCMT DoubleLine Commodity Strategy ETF	26.67%	6.04%	3.65%

Correlation

The correlation between VNM and DCMT is -0.22, 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	-0.22
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024	-0.06

The correlation between VNM and DCMT shifts across timeframes, from -0.22 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VNM vs. DCMT — Risk / Return Rank

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

VNM

VNM Risk / Return Rank: 22
VNM Sharpe Ratio Rank: 21
VNM Sortino Ratio Rank: 22
VNM Omega Ratio Rank: 20
VNM Calmar Ratio Rank: 24
VNM Martin Ratio Rank: 23

DCMT

DCMT Risk / Return Rank: 55
DCMT Sharpe Ratio Rank: 61
DCMT Sortino Ratio Rank: 58
DCMT Omega Ratio Rank: 57
DCMT Calmar Ratio Rank: 47
DCMT Martin Ratio Rank: 51

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.

VNM vs. DCMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Vietnam ETF (VNM) and DoubleLine Commodity Strategy ETF (DCMT). 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.

	VNM	DCMT	Difference
Sharpe ratio: Return per unit of total volatility	0.61	1.62	-1.02
Sortino ratio: Return per unit of downside risk	1.04	2.23	-1.20
Omega ratio: Gain probability vs. loss probability	1.12	1.28	-0.16
Calmar ratio: Return relative to maximum drawdown	0.95	1.91	-0.96
Martin ratio: Return relative to average drawdown	2.25	6.85	-4.60

VNM vs. DCMT - Sharpe Ratio Comparison

The current VNM Sharpe Ratio is 0.61, which is lower than the DCMT Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of VNM and DCMT, 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

VNM vs. DCMT - Drawdown Comparison

The maximum VNM drawdown since its inception was -63.19%, which is greater than DCMT's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for VNM and DCMT.

Drawdown Indicators

	VNM	DCMT	Difference
Max Drawdown Largest peak-to-trough decline	-63.19%	-15.96%	-47.23%
Max Drawdown (1Y) Largest decline over 1 year	-17.07%	-15.96%	-1.11%
Max Drawdown (3Y) Largest decline over 3 years	-31.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-49.95%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.67%	—	—
Current Drawdown Current decline from peak	-27.87%	-9.07%	-18.80%
Average Drawdown Average peak-to-trough decline	-37.75%	-3.52%	-34.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.21%	4.44%	+2.77%

Volatility

VNM vs. DCMT - Volatility Comparison

VanEck Vectors Vietnam ETF (VNM) and DoubleLine Commodity Strategy ETF (DCMT) have volatilities of 6.25% and 6.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNM	DCMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.25%	6.00%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	17.54%	16.87%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	26.80%	18.77%	+8.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.32%	16.02%	+8.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.43%	16.02%	+7.41%

VNM vs. DCMT - Expense Ratio Comparison

VNM has a 0.68% expense ratio, which is higher than DCMT's 0.66% expense ratio.

Dividends

VNM vs. DCMT - Dividend Comparison

VNM's dividend yield for the trailing twelve months is around 0.22%, less than DCMT's 2.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DCMT DoubleLine Commodity Strategy ETF	2.90%	3.67%	1.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VNM VanEck Vectors Vietnam ETF	0.22%	0.20%	0.00%	5.21%	0.96%	0.49%	0.40%	0.76%	0.83%	1.14%	2.44%	3.69%

Frequently Asked Questions

Can I hold both VNM and DCMT in my portfolio?

VNM and DCMT have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNM or DCMT?

VNM has higher volatility (6.25%) compared to DCMT (6.00%). In terms of maximum drawdown, VNM dropped -63.19% vs DCMT's -15.96%.

Which ETF is better, VNM or DCMT?

On 1-year performance, DCMT leads with 30.32% vs 16.18% for VNM. On fees, DCMT is cheaper at 0.66% per year. On volatility, DCMT has been the lower-risk option at 6.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNM or DCMT?

Over the 1-year period, DCMT has performed better with a 30.32% return vs 16.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNM or DCMT?

DCMT is cheaper with a 0.66% expense ratio, compared with 0.68% for VNM.

Which ETF pays a higher dividend yield, VNM or DCMT?

DCMT has the higher dividend yield at 2.90%, compared with 0.22% for VNM.

What is the main difference between VNM and DCMT?

VNM is categorized as Asia Pacific Equities, while DCMT is Commodities. They also come from different issuers: VanEck and DoubleLine. Their fees differ too: 0.68% for VNM and 0.66% for DCMT.

Which has better risk-adjusted returns?

DCMT currently has the higher Sharpe Ratio (1.62 vs 0.61), 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.