XOEX vs. ISCMF
XOEX (Xtrackers S&P 100 Ex Top 20 ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - XOEX is a Large Cap Blend Equities fund tracking the S&P 100 Ex-Top 20 Select Index, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past 3 years, XOEX returned 17.92%/yr vs 16.78%/yr for ISCMF. At a correlation of -0.01, they often move in opposite directions. XOEX charges 0.15%/yr vs 0.19%/yr for ISCMF.
Performance
XOEX vs. ISCMF - Performance Comparison
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Returns By Period
In the year-to-date period, XOEX achieves a 9.48% return, which is significantly lower than ISCMF's 22.87% return.
XOEX
- 1D
- -0.62%
- 1M
- 0.90%
- YTD
- 9.48%
- 6M
- 8.67%
- 1Y
- 25.84%
- 3Y*
- 17.92%
- 5Y*
- —
- 10Y*
- —
ISCMF
- 1D
- 0.00%
- 1M
- -4.99%
- YTD
- 22.87%
- 6M
- 22.87%
- 1Y
- 31.30%
- 3Y*
- 16.78%
- 5Y*
- —
- 10Y*
- —
XOEX vs. ISCMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XOEX Xtrackers S&P 100 Ex Top 20 ETF | 9.48% | 18.97% | 12.07% | 15.99% | 2.98% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 22.87% | 19.65% | 3.13% | -9.58% | -2.34% |
Correlation
The correlation between XOEX and ISCMF is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2022 | -0.01 |
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Return for Risk
XOEX vs. ISCMF — Risk / Return Rank
XOEX
ISCMF
XOEX vs. ISCMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P 100 Ex Top 20 ETF (XOEX) and iShares Diversified Commodity Swap UCITS ETF (ISCMF). 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.
| XOEX | ISCMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 2.31 | -0.90 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 5.53 | -1.98 |
| Martin ratioReturn relative to average drawdown | 13.97 | 11.85 | +2.12 |
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Drawdowns
XOEX vs. ISCMF - Drawdown Comparison
The maximum XOEX drawdown since its inception was -14.68%, smaller than the maximum ISCMF drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for XOEX and ISCMF.
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Drawdown Indicators
| XOEX | ISCMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.68% | -25.42% | +10.74% |
Max Drawdown (1Y)Largest decline over 1 year | -7.31% | -5.69% | -1.62% |
Max Drawdown (3Y)Largest decline over 3 years | -14.68% | -7.62% | -7.06% |
Current DrawdownCurrent decline from peak | -1.52% | -5.26% | +3.74% |
Average DrawdownAverage peak-to-trough decline | -2.62% | -13.35% | +10.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 2.65% | -0.80% |
Volatility
XOEX vs. ISCMF - Volatility Comparison
The current volatility for Xtrackers S&P 100 Ex Top 20 ETF (XOEX) is 4.07%, while iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a volatility of 5.11%. This indicates that XOEX experiences smaller price fluctuations and is considered to be less risky than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XOEX | ISCMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.07% | 5.11% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 8.88% | 15.45% | -6.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.29% | 17.84% | -6.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.45% | 14.29% | -0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.45% | 14.29% | -0.84% |
XOEX vs. ISCMF - Expense Ratio Comparison
XOEX has a 0.15% expense ratio, which is lower than ISCMF's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XOEX vs. ISCMF - Dividend Comparison
XOEX's dividend yield for the trailing twelve months is around 1.48%, while ISCMF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ISCMF iShares Diversified Commodity Swap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XOEX Xtrackers S&P 100 Ex Top 20 ETF | 1.48% | 1.95% | 2.09% | 1.72% | 0.42% |
Frequently Asked Questions
XOEX and ISCMF have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISCMF has higher volatility (5.11%) compared to XOEX (4.07%). In terms of maximum drawdown, XOEX dropped -14.68% vs ISCMF's -25.42%.
On 3-year performance, XOEX leads with 17.92% vs 16.78% for ISCMF. On fees, XOEX is cheaper at 0.15% per year. On volatility, XOEX has been the lower-risk option at 4.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XOEX has performed better with a 17.92% return vs 16.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XOEX is cheaper with a 0.15% expense ratio, compared with 0.19% for ISCMF.
XOEX has the higher dividend yield at 1.48%, compared with 0.00% for ISCMF.
XOEX is categorized as Large Cap Blend Equities, while ISCMF is Commodities. XOEX tracks S&P 100 Ex-Top 20 Select Index, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.15% for XOEX and 0.19% for ISCMF.
XOEX currently has the higher Sharpe Ratio (2.30 vs 1.76), 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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