XBAP vs. DCMT
XBAP (Innovator U.S. Equity Accelerated 9 Buffer ETF - April) and DCMT (DoubleLine Commodity Strategy ETF) are both exchange-traded funds - XBAP is a Defined Outcome fund actively managed by Innovator, while DCMT is a Commodities fund actively managed by DoubleLine. Both are actively managed. Over the past year, XBAP returned 14.62% vs 30.59% for DCMT. Their 0.02 correlation means their historical movements had little consistent relationship. XBAP charges 0.79%/yr vs 0.66%/yr for DCMT.
Performance
XBAP vs. DCMT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XBAP achieves a 10.07% return, which is significantly lower than DCMT's 25.34% return.
XBAP
- 1D
- 0.08%
- 1M
- 1.20%
- 6M
- 9.76%
- YTD
- 10.07%
- 1Y
- 14.62%
- 3Y*
- 13.58%
- 5Y*
- 9.71%
- 10Y*
- —
- ALL TIME*
- 10.06%
DCMT
- 1D
- 0.48%
- 1M
- 4.45%
- 6M
- 17.24%
- YTD
- 25.34%
- 1Y
- 30.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $320.34K | $275.59K | $200.42K | |
| $274.60K | $256.90K | $275.56K |
XBAP vs. DCMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XBAP Innovator U.S. Equity Accelerated 9 Buffer ETF - April | 10.07% | 13.38% | 10.70% |
DCMT DoubleLine Commodity Strategy ETF | 25.34% | 6.04% | 3.65% |
Correlation
The correlation between XBAP and DCMT is -0.18, 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. | -0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024 | 0.02 |
The correlation between XBAP and DCMT shifts across timeframes, from -0.18 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XBAP vs. DCMT — Risk / Return Rank
XBAP
DCMT
XBAP vs. DCMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated 9 Buffer ETF - April (XBAP) 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.
| XBAP | DCMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.43 | ||
| Sortino ratioReturn per unit of downside risk | +4.90 | ||
| Omega ratioGain probability vs. loss probability | 2.01 | 1.28 | +0.74 |
| Calmar ratioReturn relative to maximum drawdown | 11.33 | 1.93 | +9.40 |
| Martin ratioReturn relative to average drawdown | 59.01 | 6.31 | +52.70 |
Loading charts...
Drawdowns
XBAP vs. DCMT - Drawdown Comparison
The maximum XBAP drawdown since its inception was -14.57%, smaller than the maximum DCMT drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for XBAP and DCMT.
Loading charts...
Drawdown Indicators
| XBAP | DCMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.57% | -15.96% | +1.39% |
Max Drawdown (1Y)Largest decline over 1 year | -1.30% | -15.96% | +14.66% |
Max Drawdown (3Y)Largest decline over 3 years | -8.25% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.57% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -10.03% | +10.03% |
Average DrawdownAverage peak-to-trough decline | -1.70% | -3.64% | +1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 4.86% | -4.61% |
Volatility
XBAP vs. DCMT - Volatility Comparison
The current volatility for Innovator U.S. Equity Accelerated 9 Buffer ETF - April (XBAP) is 1.19%, while DoubleLine Commodity Strategy ETF (DCMT) has a volatility of 5.48%. This indicates that XBAP experiences smaller price fluctuations and is considered to be less risky than DCMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XBAP | DCMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 5.48% | -4.29% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 16.57% | -13.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.63% | 19.04% | -15.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.97% | 16.05% | -6.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.74% | 16.05% | -6.31% |
XBAP vs. DCMT - Expense Ratio Comparison
XBAP has a 0.79% expense ratio, which is higher than DCMT's 0.66% expense ratio.
Dividends
XBAP vs. DCMT - Dividend Comparison
XBAP has not paid dividends to shareholders, while DCMT's dividend yield for the trailing twelve months is around 2.93%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
DCMT DoubleLine Commodity Strategy ETF | 2.93% | 3.67% | 1.59% |
XBAP Innovator U.S. Equity Accelerated 9 Buffer ETF - April | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XBAP and DCMT have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DCMT has higher volatility (5.48%) compared to XBAP (1.19%). In terms of maximum drawdown, XBAP dropped -14.57% vs DCMT's -15.96%.
On 1-year performance, DCMT leads with 30.59% vs 14.62% for XBAP. On fees, DCMT is cheaper at 0.66% per year. On volatility, XBAP has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DCMT has performed better with a 30.59% return vs 14.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DCMT is cheaper with a 0.66% expense ratio, compared with 0.79% for XBAP.
DCMT has the higher dividend yield at 2.93%, compared with 0.00% for XBAP.
XBAP is categorized as Defined Outcome, while DCMT is Commodities. They also come from different issuers: Innovator and DoubleLine. Their fees differ too: 0.79% for XBAP and 0.66% for DCMT.
XBAP currently has the higher Sharpe Ratio (4.04 vs 1.61), 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.
Find the right allocation for XBAP and DCMT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer