XSHD vs. ISCMF
XSHD (Invesco S&P SmallCap High Dividend Low Volatility ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - XSHD is a Volatility Hedged Equity fund tracking the S&P SmallCap 600 Low Volatility High Dividend Index, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past 3 years, XSHD returned 2.49%/yr vs 16.78%/yr for ISCMF. At a correlation of -0.04, they often move in opposite directions. XSHD charges 0.30%/yr vs 0.19%/yr for ISCMF.
Performance
XSHD vs. ISCMF - Performance Comparison
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Returns By Period
In the year-to-date period, XSHD achieves a 9.24% return, which is significantly lower than ISCMF's 22.87% return.
XSHD
- 1D
- 1.34%
- 1M
- 1.12%
- YTD
- 9.24%
- 6M
- 9.16%
- 1Y
- 6.83%
- 3Y*
- 2.49%
- 5Y*
- -4.65%
- 10Y*
- —
ISCMF
- 1D
- 0.00%
- 1M
- -4.99%
- YTD
- 22.87%
- 6M
- 22.87%
- 1Y
- 31.30%
- 3Y*
- 16.78%
- 5Y*
- —
- 10Y*
- —
XSHD vs. ISCMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF | 9.24% | -6.41% | -5.25% | 3.00% | -16.78% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 22.87% | 19.65% | 3.13% | -9.58% | -5.82% |
Correlation
The correlation between XSHD and ISCMF is -0.09, 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 | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | -0.04 |
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Return for Risk
XSHD vs. ISCMF — Risk / Return Rank
XSHD
ISCMF
XSHD vs. ISCMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD) 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.
| XSHD | ISCMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 2.31 | -1.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 5.53 | -4.88 |
| Martin ratioReturn relative to average drawdown | 1.76 | 11.85 | -10.09 |
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Drawdowns
XSHD vs. ISCMF - Drawdown Comparison
The maximum XSHD drawdown since its inception was -49.53%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for XSHD and ISCMF.
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Drawdown Indicators
| XSHD | ISCMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.53% | -25.42% | -24.11% |
Max Drawdown (1Y)Largest decline over 1 year | -10.51% | -5.69% | -4.82% |
Max Drawdown (3Y)Largest decline over 3 years | -20.77% | -7.62% | -13.15% |
Max Drawdown (5Y)Largest decline over 5 years | -34.70% | — | — |
Current DrawdownCurrent decline from peak | -23.92% | -5.26% | -18.66% |
Average DrawdownAverage peak-to-trough decline | -16.40% | -13.35% | -3.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 2.65% | +1.24% |
Volatility
XSHD vs. ISCMF - Volatility Comparison
The current volatility for Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD) is 3.90%, while iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a volatility of 5.11%. This indicates that XSHD 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
| XSHD | ISCMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 5.11% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 9.97% | 15.45% | -5.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.93% | 17.84% | -2.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.85% | 14.29% | +4.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.20% | 14.29% | +7.91% |
XSHD vs. ISCMF - Expense Ratio Comparison
XSHD has a 0.30% expense ratio, which is higher than ISCMF's 0.19% expense ratio.
Dividends
XSHD vs. ISCMF - Dividend Comparison
XSHD's dividend yield for the trailing twelve months is around 5.22%, while ISCMF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ISCMF iShares Diversified Commodity Swap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF | 5.22% | 6.45% | 7.25% | 7.62% | 6.77% | 3.86% | 5.55% | 4.88% | 5.49% | 4.11% | 0.41% |
Frequently Asked Questions
XSHD and ISCMF have a correlation of -0.09, 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 XSHD (3.90%). In terms of maximum drawdown, XSHD dropped -49.53% vs ISCMF's -25.42%.
On 3-year performance, ISCMF leads with 16.78% vs 2.49% for XSHD. On fees, ISCMF is cheaper at 0.19% per year. On volatility, XSHD has been the lower-risk option at 3.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ISCMF has performed better with a 16.78% return vs 2.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISCMF is cheaper with a 0.19% expense ratio, compared with 0.30% for XSHD.
XSHD has the higher dividend yield at 5.22%, compared with 0.00% for ISCMF.
XSHD is categorized as Volatility Hedged Equity, while ISCMF is Commodities. XSHD tracks S&P SmallCap 600 Low Volatility High Dividend Index, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.30% for XSHD and 0.19% for ISCMF.
ISCMF currently has the higher Sharpe Ratio (1.76 vs 0.46), 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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