VONE vs. USCI
VONE (Vanguard Russell 1000 ETF) and USCI (United States Commodity Index Fund) are both exchange-traded funds - VONE is a Large Cap Blend Equities fund tracking the Russell 1000 Index, while USCI is a Commodities fund tracking the SummerHaven Dynamic Commodity (TR). Both are passively managed. Over the past 10 years, VONE returned 15.21%/yr vs 8.19%/yr for USCI. At a 0.29 correlation, their price movements are largely independent. VONE charges 0.08%/yr vs 1.03%/yr for USCI.
Performance
VONE vs. USCI - Performance Comparison
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Returns By Period
In the year-to-date period, VONE achieves a 8.90% return, which is significantly lower than USCI's 22.58% return. Over the past 10 years, VONE has outperformed USCI with an annualized return of 15.21%, while USCI has yielded a comparatively lower 8.19% annualized return.
VONE
- 1D
- 0.43%
- 1M
- 0.28%
- YTD
- 8.90%
- 6M
- 9.17%
- 1Y
- 23.83%
- 3Y*
- 20.64%
- 5Y*
- 12.60%
- 10Y*
- 15.21%
USCI
- 1D
- -0.94%
- 1M
- -6.82%
- YTD
- 22.58%
- 6M
- 20.76%
- 1Y
- 29.04%
- 3Y*
- 21.04%
- 5Y*
- 18.23%
- 10Y*
- 8.19%
VONE vs. USCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VONE Vanguard Russell 1000 ETF | 8.90% | 17.21% | 24.51% | 26.41% | -19.14% | 26.49% | 20.95% | 31.12% | -4.84% | 21.55% |
USCI United States Commodity Index Fund | 22.58% | 17.63% | 17.24% | -0.00% | 29.47% | 33.07% | -11.47% | -1.68% | -11.76% | 6.32% |
Correlation
The correlation between VONE and USCI is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010 | 0.29 |
The correlation between VONE and USCI shifts across timeframes, from -0.06 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VONE vs. USCI — Risk / Return Rank
VONE
USCI
VONE vs. USCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 ETF (VONE) 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.
| VONE | USCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.30 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 3.34 | -0.64 |
| Martin ratioReturn relative to average drawdown | 12.15 | 10.82 | +1.33 |
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Drawdowns
VONE vs. USCI - Drawdown Comparison
The maximum VONE drawdown since its inception was -34.66%, smaller than the maximum USCI drawdown of -66.41%. Use the drawdown chart below to compare losses from any high point for VONE and USCI.
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Drawdown Indicators
| VONE | USCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.66% | -66.41% | +31.75% |
Max Drawdown (1Y)Largest decline over 1 year | -8.85% | -8.73% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -12.01% | -7.05% |
Max Drawdown (5Y)Largest decline over 5 years | -25.12% | -18.84% | -6.28% |
Max Drawdown (10Y)Largest decline over 10 years | -34.66% | -45.82% | +11.16% |
Current DrawdownCurrent decline from peak | -2.20% | -7.36% | +5.16% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -29.46% | +25.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 2.69% | -0.72% |
Volatility
VONE vs. USCI - Volatility Comparison
Vanguard Russell 1000 ETF (VONE) has a higher volatility of 4.24% compared to United States Commodity Index Fund (USCI) at 3.42%. This indicates that VONE's price experiences larger fluctuations and is considered to be riskier than USCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VONE | USCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 3.42% | +0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 9.61% | 14.11% | -4.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.39% | 16.78% | -4.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.14% | 18.45% | -1.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.27% | 15.85% | +2.42% |
VONE vs. USCI - Expense Ratio Comparison
VONE has a 0.08% expense ratio, which is lower than USCI's 1.03% expense ratio.
Dividends
VONE vs. USCI - Dividend Comparison
VONE's dividend yield for the trailing twelve months is around 1.01%, while USCI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VONE Vanguard Russell 1000 ETF | 1.01% | 1.07% | 1.20% | 1.40% | 1.59% | 1.16% | 1.45% | 1.65% | 1.96% | 1.69% | 1.89% | 1.89% |
Frequently Asked Questions
VONE and USCI have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VONE has higher volatility (4.24%) compared to USCI (3.42%). In terms of maximum drawdown, VONE dropped -34.66% vs USCI's -66.41%.
On 10-year performance, VONE leads with 15.21% vs 8.19% for USCI. On fees, VONE is cheaper at 0.08% per year. On volatility, USCI has been the lower-risk option at 3.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VONE has performed better with a 15.21% return vs 8.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VONE is cheaper with a 0.08% expense ratio, compared with 1.03% for USCI.
VONE has the higher dividend yield at 1.01%, compared with 0.00% for USCI.
VONE is categorized as Large Cap Blend Equities, while USCI is Commodities. VONE tracks Russell 1000 Index, while USCI tracks SummerHaven Dynamic Commodity (TR). They also come from different issuers: Vanguard and Concierge Technologies. Their fees differ too: 0.08% for VONE and 1.03% for USCI.
VONE currently has the higher Sharpe Ratio (1.93 vs 1.74), 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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