XDEC vs. DCMT

Last updated Jul 14, 2026

XDEC (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December) and DCMT (DoubleLine Commodity Strategy ETF) are both exchange-traded funds - XDEC is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust - Benchmark TR Gross, while DCMT is a Commodities fund actively managed by DoubleLine. XDEC is passively managed, while DCMT is actively managed. Over the past year, XDEC returned 10.25% vs 28.33% for DCMT. At a 0.00 correlation, their price movements are largely independent. XDEC charges 0.85%/yr vs 0.66%/yr for DCMT.

Performance

XDEC vs. DCMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC) 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, XDEC achieves a 5.04% return, which is significantly lower than DCMT's 25.74% return.

XDEC

• 1D: -0.06%
• 1M: 0.90%
• 6M: 4.28%
• YTD: 5.04%
• 1Y: 10.25%
• 3Y*: 9.46%
• 5Y*: —
• 10Y*: —

DCMT

• 1D: 2.59%
• 1M: -0.52%
• 6M: 21.60%
• YTD: 25.74%
• 1Y: 28.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XDEC vs. DCMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XDEC FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December	5.04%	9.71%	8.41%
DCMT DoubleLine Commodity Strategy ETF	25.74%	6.04%	3.65%

Correlation

The correlation between XDEC and DCMT is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024	0.00

The correlation between XDEC and DCMT shifts across timeframes, from -0.13 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XDEC vs. DCMT — Risk / Return Rank

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

XDEC

XDEC Risk / Return Rank: 84
XDEC Sharpe Ratio Rank: 85
XDEC Sortino Ratio Rank: 89
XDEC Omega Ratio Rank: 91
XDEC Calmar Ratio Rank: 66
XDEC Martin Ratio Rank: 88

DCMT

DCMT Risk / Return Rank: 51
DCMT Sharpe Ratio Rank: 57
DCMT Sortino Ratio Rank: 55
DCMT Omega Ratio Rank: 53
DCMT Calmar Ratio Rank: 44
DCMT Martin Ratio Rank: 49

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.

XDEC vs. DCMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC) 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.

	XDEC	DCMT	Difference
Sharpe ratio: Return per unit of total volatility	2.18	1.52	+0.66
Sortino ratio: Return per unit of downside risk	3.28	2.11	+1.18
Omega ratio: Gain probability vs. loss probability	1.47	1.27	+0.21
Calmar ratio: Return relative to maximum drawdown	2.63	1.78	+0.85
Martin ratio: Return relative to average drawdown	15.02	6.45	+8.57

XDEC vs. DCMT - Sharpe Ratio Comparison

The current XDEC Sharpe Ratio is 2.18, which is higher than the DCMT Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of XDEC 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

XDEC vs. DCMT - Drawdown Comparison

The maximum XDEC drawdown since its inception was -11.75%, smaller than the maximum DCMT drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for XDEC and DCMT.

Drawdown Indicators

	XDEC	DCMT	Difference
Max Drawdown Largest peak-to-trough decline	-11.75%	-15.96%	+4.21%
Max Drawdown (1Y) Largest decline over 1 year	-3.91%	-15.96%	+12.05%
Max Drawdown (3Y) Largest decline over 3 years	-10.08%	—	—
Current Drawdown Current decline from peak	-0.06%	-9.74%	+9.68%
Average Drawdown Average peak-to-trough decline	-1.62%	-3.51%	+1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	4.40%	-3.72%

Volatility

XDEC vs. DCMT - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC) is 1.20%, while DoubleLine Commodity Strategy ETF (DCMT) has a volatility of 6.10%. This indicates that XDEC 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.

Volatility by Period

	XDEC	DCMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	6.10%	-4.90%
Volatility (6M) Calculated over the trailing 6-month period	4.27%	16.86%	-12.59%
Volatility (1Y) Calculated over the trailing 1-year period	4.74%	18.80%	-14.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.40%	16.03%	-7.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.40%	16.03%	-7.63%

XDEC vs. DCMT - Expense Ratio Comparison

XDEC has a 0.85% expense ratio, which is higher than DCMT's 0.66% expense ratio.

Dividends

XDEC vs. DCMT - Dividend Comparison

XDEC has not paid dividends to shareholders, while DCMT's dividend yield for the trailing twelve months is around 2.92%.

Position	TTM	2025	2024
DCMT DoubleLine Commodity Strategy ETF	2.92%	3.67%	1.59%
XDEC FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XDEC and DCMT in my portfolio?

XDEC and DCMT have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XDEC or DCMT?

DCMT has higher volatility (6.10%) compared to XDEC (1.20%). In terms of maximum drawdown, XDEC dropped -11.75% vs DCMT's -15.96%.

Which ETF is better, XDEC or DCMT?

On 1-year performance, DCMT leads with 28.33% vs 10.25% for XDEC. On fees, DCMT is cheaper at 0.66% per year. On volatility, XDEC has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDEC or DCMT?

Over the 1-year period, DCMT has performed better with a 28.33% return vs 10.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDEC or DCMT?

DCMT is cheaper with a 0.66% expense ratio, compared with 0.85% for XDEC.

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

DCMT has the higher dividend yield at 2.92%, compared with 0.00% for XDEC.

What is the main difference between XDEC and DCMT?

XDEC is categorized as Defined Outcome, while DCMT is Commodities. They also come from different issuers: FT Vest and DoubleLine. Their fees differ too: 0.85% for XDEC and 0.66% for DCMT.

Which has better risk-adjusted returns?

XDEC currently has the higher Sharpe Ratio (2.18 vs 1.52), 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.