USCI vs BCI ETF comparison
USCI vs BCI
USCI holds 14 futures contracts picked each year by SummerHaven rules, in roughly equal weights, and BCI holds futures on the 24 commodities of the Bloomberg Commodity Index. The two funds follow different indexes. The SummerHaven Dynamic Commodity Index Total Return picks 14 commodities each year from a larger list using price trends, so its mix changes and can differ sharply from the other funds.
The Bloomberg Commodity Index Total Return caps any one commodity or sector so oil cannot dominate, which gives it more gold and farm products than a production-weighted index. USCI charges 1.05% and BCI charges 0.26%. This page lines up what each fund holds by commodity, how much they overlap, what each paid and how each performed, with the date next to every number.
USCI vs BCI, the short answer
USCI and BCI differ in what they hold and what they charge. The two funds follow different indexes. The SummerHaven Dynamic Commodity Index Total Return picks 14 commodities each year from a larger list using price trends, so its mix changes and can differ sharply from the other funds.
The Bloomberg Commodity Index Total Return caps any one commodity or sector so oil cannot dominate, which gives it more gold and farm products than a production-weighted index. Expense ratios are 1.05% and 0.26%. NAV total returns, annualized (both to Sep 30, 2026): 1 year 40.67% vs 39.78%; 5 years 21.73% vs 10.63%. Neither is better for everyone; the choice turns on cost, tax form (K-1 or 1099), and what you already own.
USCI vs BCI overlap, if you own both
USCI · ten largest holdings
As of Nov 9, 2026- 1Platinum PL7.77%Only here
- 2Aluminum LA7.60%Both
- 3Zinc LX7.43%Only here
- 4Soybean meal SM7.35%Only here
- 5Copper HG7.32%Both
- 6Coffee KC7.27%Only here
- 7Sugar SB7.25%Only here
- 8Feeder cattle FC7.15%Only here
- 9Heating oil HO7.02%Only here
- 10Gasoil QS6.94%Both
Ten largest total 73.1%
BCI · ten largest holdings
As of Oct 31, 2026 sectors- 1Gold GC11.05%Only here
- 2Brent crude CO11.05%Only here
- 3Natural gas NG9.51%Only here
- 4WTI crude CL8.78%Only here
- 5Copper HG5.58%Both
- 6Corn C5.30%Only here
- 7Soybeans S5.14%Only here
- 8Gasoil QS3.82%Both
- 9Aluminum LA3.48%Both
- 10Silver SI2.93%Only here
Ten largest total 66.6%
Shared by both · 3 commodities
| Commodity | USCI weight | BCI weight | Gap |
|---|---|---|---|
| Aluminum LA | 7.60% | 3.48% | +4.12 pts |
| Copper HG | 7.32% | 5.58% | +1.74 pts |
| Gasoil QS | 6.94% | 3.82% | +3.12 pts |
Only in USCI’s top ten: Platinum, Zinc, Soybean meal, Coffee, Sugar, Feeder cattle, Heating oil. Only in BCI’s top ten: Gold, Brent crude, Natural gas, WTI crude, Corn, Soybeans, Silver.
The twist
42.4% of the exposure sits in commodities both funds hold (matched by commodity, issuer holdings dated Nov 9, 2026 and Oct 31, 2026 sectors), and 3 commodities appear in both top-ten lists. The funds overlap only partly, so owning both is a real choice about how much of each market you want.
USCI vs BCI, one goal, which fund?
USCI vs BCI, where the money goes
USCI · United States Commodity Funds LLC, Nov 9, 2026
BCI · abrdn, Oct 31, 2026 sectors
USCI vs BCI returns compared over 1, 3, 5 and 10 years
USCI vs BCI, what each fund costs a year
The data room
Every figure behind the USCI vs BCI cards above, with its source, date and evidence grade. Open the issuer documents before relying on any number.
USCI vs BCI key facts
Evidence grade: Issuer issuer page · Mixed issuer plus provider · 3rd party| Metric | USCI | BCI | Grade and source |
|---|
Portfolio characteristics
| Metric | USCI | BCI | Grade and source |
|---|
Net assets are dated Nov 9, 2026 for both funds (USCI $401.0M; BCI $3.28B). Figures that the issuers do not publish, such as beta, standard deviation and 52-week range, are left as Not captured rather than estimated.
USCI vs BCI holdings and top ten
Click a commodity tile · USCI: United States Commodity Funds LLC, Nov 9, 2026 · BCI: abrdn, Oct 31, 2026 sectorsTile area is proportional to weight.
| # | Commodity | Weight |
|---|
| # | Commodity | Weight |
|---|
Top ten sums: USCI 73.1% · BCI 66.6%. 3 shared top-ten commodities. Weights change.
USCI vs BCI sector exposure
USCI: Nov 9, 2026 · BCI: Oct 31, 2026 sectorsThe sector mirror
Same funds, different lenses
Contracts and collateral
Both funds hold futures contracts, not physical commodities. USCI lists 14 commodities and BCI lists 25. Each contract expires and is replaced (rolled) before it ends, and the cash backing the contracts sits in Treasury bills, money market funds and similar holdings. That collateral earns interest and is not counted in the commodity weights here.
What you actually own
USCI vs BCI performance
Matched dates, both to Sep 30, 2026; issuer NAV rows dated separatelyAll rows come from the issuer pages and are dated Sep 30, 2026 for both funds, so they compare like for like. NAV returns include fees; market price and benchmark returns are shown beside them where the issuer published them, and gaps are marked Not captured. “Since inception” starts in different years (USCI 2010, BCI 2017). Past performance does not guarantee future results.
Growth of a hypothetical $10,000 · NAV total return, both to Sep 30, 2026
Both funds derived from issuer NAV total returns on matched dates (compounded). Distributions reinvested; fund expenses are already in NAV. Illustration, not a forecast.
USCI vs BCI yield, dividends and dividend growth
Yield and distribution facts| Measure | USCI | BCI |
|---|---|---|
| 30-day SEC yield | Not reported | Not reported |
| Trailing 12-month | Not captured | Not captured |
| Paid, last 12 months | Not captured | Not captured |
| Frequency | Not captured | Not captured |
Distribution frequency: USCI not captured, BCI not captured. Per-share payouts differ because share prices differ, so compare yields rather than dollars. Payouts depend on Treasury interest earned on collateral and on how each fund is structured, and some payouts are classed as return of capital. Payouts captured: USCI 0, BCI 0; gaps are marked Not captured. See what is dividend yield and yield vs total return.
USCI vs BCI concentration and overlap
Ten largest positions · shared holdingsRank by rank, the ten largest commodities of each fund, as a share of futures exposure. Top five: USCI 37.5%, BCI 46.0%. Top ten: USCI 73.1%, BCI 66.6%.
USCI vs BCI trading and liquidity
Issuer fund pages · Nov 9, 2026The issuers report bid/ask spreads of Not captured for USCI and 0.04% for BCI (measures differ by issuer; see each fund page). A spread of 0.05% is about $50 between the buy and sell price on $100,000, so check the live quote before you trade.
Commodity prices can swing sharply when oil or metals move, so spreads can widen on volatile days. Use limit orders for large trades and avoid the first and last minutes of the session. See creation, redemption and trading for how NAV, premiums and spreads arise.
USCI vs BCI expense ratio and fees in dollars
As stated by each issuer| Balance | USCI (1.05%) | BCI (0.26%) | Gap per year |
|---|---|---|---|
| $10,000 | $105 | $26 | $79 |
| $50,000 | $525 | $130 | $395 |
| $100,000 | $1,050 | $260 | $790 |
Expense ratio is taken from fund assets, not billed. Net expense ratios are shown (USCI: total 1.05%; BCI: total 0.26%). Fees exclude the bid/ask spread, any premium or discount to NAV, brokerage commissions and taxes.
USCI vs BCI, how each fund gets its commodity exposure
Index approach, in plain languageUSCI · SummerHaven Dynamic Commodity Index Total Return
USCI tracks the SummerHaven Dynamic Commodity Index Total Return. It holds futures on about 14 commodities and was launched in 2010; the ten largest commodities total 73.1% of futures exposure. Index rules and rebalance dates are in the fund’s prospectus.
BCI · Bloomberg Commodity Index Total Return
BCI tracks the Bloomberg Commodity Index Total Return. It holds futures on about 25 commodities and was launched in 2017; the ten largest commodities total 66.6% of futures exposure. Index rules and rebalance dates are in the fund’s prospectus.
Exact eligibility rules, caps and rebalance dates sit in each prospectus and index methodology; read them before relying on this summary.
USCI vs BCI, why yield and returns differ
Sector mix explains much of the gapThe two funds follow different indexes. The SummerHaven Dynamic Commodity Index Total Return picks 14 commodities each year from a larger list using price trends, so its mix changes and can differ sharply from the other funds. The Bloomberg Commodity Index Total Return caps any one commodity or sector so oil cannot dominate, which gives it more gold and farm products than a production-weighted index.
USCI follows the SummerHaven Dynamic Commodity Index Total Return and BCI uses the Bloomberg Commodity Index Total Return. Because commodity funds hold futures, the return comes from three sources: the change in commodity prices, the roll yield or cost as contracts are replaced, and interest earned on the collateral. Differences in contract choice, roll timing and collateral income explain most of the gap between funds with similar baskets, and fees explain the rest.
How to decide between USCI and BCI
A step-by-step frameworkStart with what separates them: The two funds follow different indexes. The SummerHaven Dynamic Commodity Index Total Return picks 14 commodities each year from a larger list using price trends, so its mix changes and can differ sharply from the other funds.
The Bloomberg Commodity Index Total Return caps any one commodity or sector so oil cannot dominate, which gives it more gold and farm products than a production-weighted index. Then check what you already own: the funds overlap by 42.4%, so holding both is a real decision about how much of each market you want.
- Step 1 · Structure: USCI holds 14 futures contracts picked each year by SummerHaven rules, in roughly equal weights; BCI holds futures on the 24 commodities of the Bloomberg Commodity Index.
- Step 2 · Cost: USCI 1.05% vs BCI 0.26% net expense ratio.
- Step 3 · Tax form: USCI issues a Schedule K-1; BCI issues a 1099. This matters most for tax-advanced accounts and for Canadian investors.
- Step 4 · Overlap: use the Diversification Calculator against what you own.
Size the position against your whole portfolio. Commodity funds are volatile and behave differently from stocks and bonds, so they usually play a small, deliberate role.
USCI vs BCI for Canadian investors
Currency, withholding tax and account typeUSCI and BCI are U.S.-listed and trade in U.S. dollars, so buying them from a Canadian account usually involves converting Canadian dollars, which adds a cost on both entry and exit. A move in the U.S. dollar also changes your return in Canadian dollars.
Tax treatment depends on the structure. A fund that files a Schedule K-1 can create extra reporting for a Canadian holder and may not suit an RRSP or TFSA, while a fund that issues a 1099 is simpler. Confirm the rules for your account with a tax professional. This is general education, not tax advice.
Risks of USCI and BCI
What can go wrongShared risks
- Commodity prices can swing sharply: oil, metals and crops respond to supply shocks, weather, politics and demand, and a broad commodity fund can fall while stocks rise.
- Futures funds can lose value when the market is in contango, because rolling into a more expensive contract costs money even if the spot price does not change.
- Energy is 34% of USCI and 39% of BCI, so oil and fuel prices drive a large share of the result.
- Commodities produce no earnings or dividends of their own; returns come from price changes, roll yield and interest on collateral.
Fund-specific risks
- USCI: ten largest commodities total 73.1% of futures exposure (Nov 9, 2026); exposure to 14 commodities.
- BCI: ten largest commodities total 66.6% of futures exposure (Oct 31, 2026 sectors); exposure to 25 commodities.
- USCI: its 14-commodity basket is reset by rule and can concentrate in a few markets; it files a Schedule K-1. BCI: uses Bloomberg index weights with a K-1 free structure; abrdn publishes sector weights only.
- Both: not registered as ordinary stock funds; see each prospectus for legal form and the risks of futures.
USCI vs BCI taxes and account placement
General education, not tax adviceUSCI is a commodity pool and issues a Schedule K-1, and futures gains are generally taxed under the 60/40 rule. BCI is marketed as K-1 free and issues a standard 1099, but income from its holdings can be taxed as ordinary income. Issuer pages list after-tax returns only for some funds, and gaps are marked Not captured.
For Canadian account types and withholding tax, see the Canadian section above. Confirm the rules for your account with a tax professional, and read how to build an ETF portfolio.
Other ETFs people compare
For context, not recommendationsInvestors comparing USCI and BCI often also look at the other broad commodity funds in this group: DBC, PDBC, GSG, USCI, BCI and COMT. See the other commodity ETFs comparisons and the ETF research hub.
USCI vs BCI drawdown arithmetic
What a decline means in dollarsRecovery gain = decline ÷ (1 − decline). The scenarios use illustrative declines of 10%, 20% and 30% so you can see what a drop does to each fund. They are a rough guide to a bad year, not a worst-case figure. See the Position Size Calculator.
Tools to compare USCI vs BCI
Static weights from this pageIgnores taxes, spreads and holdings differences. ETF Fee Calculator.
Check shared exposure with the Diversification Calculator.
USCI vs BCI, which fits which job
Characteristics, not recommendationsUSCI may suit investors who want…
A rotating 14-commodity basket picked each year.
Strengths
- Futures on 14 commodities
- Led in 2 of 2 return windows (both to Sep 30, 2026)
- Exchange-traded and priced all day
- Holdings dated on this page
Watch points
- Higher fee: 1.05% against 0.26%
- Heavier top ten: 73.1% against 66.6%
- Not a complete portfolio
- Futures roll costs
BCI may suit investors who want…
Capped, balanced commodity exposure with more gold and farm products.
Strengths
- Lower fee: 0.26% against 1.05%
- Futures on 25 commodities
- Flatter top ten: 66.6% against 73.1%
- Exchange-traded and priced all day
Watch points
- Led in only 0 of 2 return windows (both to Sep 30, 2026)
- Not a complete portfolio
- Futures roll costs
USCI vs BCI investor scenarios
Characteristics that fit, not recommendationsUSCI vs BCI key terms
Plain-language definitions
USCI vs BCI, frequently asked questions
Answers use the figures and dates shown aboveIs USCI or BCI better?
In the USCI vs BCI question, neither is better for everyone. USCI and BCI differ in what they hold and what they charge. The two funds follow different indexes. The SummerHaven Dynamic Commodity Index Total Return picks 14 commodities each year from a larger list using price trends, so its mix changes and can differ sharply from the other funds.
The Bloomberg Commodity Index Total Return caps any one commodity or sector so oil cannot dominate, which gives it more gold and farm products than a production-weighted index. Expense ratios are 1.05% and 0.26%. NAV total returns, annualized (both to Sep 30, 2026): 1 year 40.67% vs 39.78%; 5 years 21.73% vs 10.63%. Neither is better for everyone; the choice turns on cost, tax form (K-1 or 1099), and what you already own.
USCI vs BCI, what are the expense ratios?
USCI charges 1.05% and BCI charges 0.26%, which is $105 and $26 a year per $10,000.
USCI vs BCI, how much do the funds overlap?
About 42.4% of the exposure is held by both funds, matched by commodity in issuer holdings dated Nov 9, 2026 and Oct 31, 2026 sectors. 3 commodities appear in both top-ten lists.
USCI vs BCI, what does each ETF track?
USCI tracks the SummerHaven Dynamic Commodity Index Total Return. BCI tracks the Bloomberg Commodity Index Total Return.
USCI vs BCI, what are the top commodities?
USCI (Nov 9, 2026): Platinum 7.77%, Aluminum 7.6%, Zinc 7.43%, Soybean meal 7.35%, Copper 7.32%. BCI (Oct 31, 2026 sectors): Gold 11.05%, Brent crude 11.05%, Natural gas 9.51%, WTI crude 8.78%, Copper 5.58%.
USCI vs BCI, which has performed better?
NAV total returns, annualized (both to Sep 30, 2026): 1 year 40.67% vs 39.78%; 5 years 21.73% vs 10.63%. Returns depend on commodity prices, roll yield and collateral income, and past performance does not guarantee future results.
USCI vs BCI, can I own both?
On USCI vs BCI, you can, but they overlap by about 42.4%. 3 top-ten commodities are shared. The funds overlap only partly, so owning both is a real choice about how much of each market you want.
USCI vs BCI, how often do the funds pay dividends?
Distribution frequency: USCI not captured, BCI not captured. Distribution rates are not captured for USCI and not captured for BCI; check each issuer page for the schedule.
USCI vs BCI, are they suitable for Canadian investors?
On USCI vs BCI, both are U.S.-listed and trade in U.S. dollars, so Canadians face currency conversion costs. USCI issues a Schedule K-1 and BCI issues a 1099, which can change reporting. Treatment differs across TFSA, RRSP and taxable accounts. This is general education, not tax advice.
USCI vs BCI, how do the funds differ by sector?
USCI (Nov 9, 2026): energy 34.0%, industrial metals 29.2%, agriculture 21.9%. BCI (Oct 31, 2026 sectors): energy 38.9%, agriculture 29.1%, precious metals 14.0%.
USCI vs BCI documents and sources
Open the issuer documents before relying on any figureUSCI · United States Commodity Funds LLC
BCI · abrdn
Third-party sources
USCF USCI fund page · abrdn BCI fund page.
Methodology and limits
- USCI figures come from United States Commodity Funds LLC fund pages and BCI figures from abrdn fund pages.
- Dates are shown beside each figure; the issuer documents are linked below.
- Overlap is the sum of the smaller weight of each commodity held by both funds. Treasury bills, cash and swaps used as collateral are excluded, and the dates and bases differ, so treat the overlap as an estimate. Weights are shares of each fund’s futures exposure by underlying commodity, so Treasury bills, cash and collateral are excluded. USCI weights are the market value of each futures contract divided by net assets on Nov 9, 2026, from the USCF holdings file. BCI publishes sector weights only (Oct 31, 2026), so Bloomberg Commodity Index 2026 target weights were rescaled to match abrdn’s sector weights.
- This page shows livestock as its own group for every fund.
- Figures that were unavailable (beta, standard deviation, 52-week range, calendar-year returns) are left as Not captured, and nothing was filled from memory or from another fund.
- Growth of $10,000 is derived from annualized NAV total returns on matched dates; dollar values are approximate.
- Returns are issuer-reported NAV total returns (dates shown beside each figure), with market price and benchmark figures where published.
Educational research, not personalized investment, tax or legal advice, and not a recommendation to buy or sell any fund. Investing involves risk, including loss of principal. Past performance does not guarantee future results. Calculators are hypothetical illustrations. Fund data are provided as published by the sources named and may differ from current figures.