USCI vs COMT ETF comparison
USCI vs COMT
USCI holds 14 futures contracts picked each year by SummerHaven rules, in roughly equal weights, and COMT holds S&P GSCI futures chosen for the best roll yield, plus cash and short-term notes. 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 S&P GSCI Dynamic Roll Index follows the S&P GSCI but chooses which contract month to hold using roll yield, so it holds the GSCI mix with a different roll rule. USCI charges 1.05% and COMT charges 0.48%. 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 COMT, the short answer
USCI and COMT 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 S&P GSCI Dynamic Roll Index follows the S&P GSCI but chooses which contract month to hold using roll yield, so it holds the GSCI mix with a different roll rule. Expense ratios are 1.05% and 0.48%. NAV total returns, annualized (both to Sep 30, 2026): 1 year 40.67% vs 48.38%; 5 years 21.73% vs 13.55%; 10 years 10.19% vs 9.63%. Neither is better for everyone; the choice turns on cost, tax form (K-1 or 1099), and what you already own.
USCI vs COMT 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%Both
- 10Gasoil QS6.94%Both
Ten largest total 73.1%
COMT · ten largest holdings
As of Nov 9, 2026- 1Brent crude CO19.07%Only here
- 2WTI crude CL18.07%Only here
- 3Gold GC7.92%Only here
- 4Gasoil QS7.90%Both
- 5Copper HG6.47%Both
- 6Heating oil HO5.38%Both
- 7Live cattle LC4.47%Only here
- 8Aluminum LA4.00%Both
- 9Corn C3.98%Only here
- 10Gasoline XB3.38%Only here
Ten largest total 80.6%
Shared by both · 4 commodities
| Commodity | USCI weight | COMT weight | Gap |
|---|---|---|---|
| Aluminum LA | 7.60% | 4.00% | +3.60 pts |
| Copper HG | 7.32% | 6.47% | +0.85 pts |
| Heating oil HO | 7.02% | 5.38% | +1.64 pts |
| Gasoil QS | 6.94% | 7.90% | -0.96 pts |
Only in USCI’s top ten: Platinum, Zinc, Soybean meal, Coffee, Sugar, Feeder cattle. Only in COMT’s top ten: Brent crude, WTI crude, Gold, Live cattle, Corn, Gasoline.
The twist
45.4% of the exposure sits in commodities both funds hold (matched by commodity, issuer holdings dated Nov 9, 2026), and 4 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 COMT, one goal, which fund?
USCI vs COMT, where the money goes
USCI · United States Commodity Funds LLC, Nov 9, 2026
COMT · BlackRock (iShares), Nov 9, 2026
USCI vs COMT returns compared over 1, 3, 5 and 10 years
USCI vs COMT, what each fund costs a year
The data room
Every figure behind the USCI vs COMT cards above, with its source, date and evidence grade. Open the issuer documents before relying on any number.
USCI vs COMT key facts
Evidence grade: Issuer issuer page · Mixed issuer plus provider · 3rd party| Metric | USCI | COMT | Grade and source |
|---|
Portfolio characteristics
| Metric | USCI | COMT | Grade and source |
|---|
Net assets are dated Nov 9, 2026 for both funds (USCI $401.0M; COMT $1.29B). 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 COMT holdings and top ten
Click a commodity tile · USCI: United States Commodity Funds LLC, Nov 9, 2026 · COMT: BlackRock (iShares), Nov 9, 2026Tile area is proportional to weight.
| # | Commodity | Weight |
|---|
| # | Commodity | Weight |
|---|
Top ten sums: USCI 73.1% · COMT 80.6%. 4 shared top-ten commodities. Weights change.
USCI vs COMT sector exposure
USCI: Nov 9, 2026 · COMT: Nov 9, 2026The sector mirror
Same funds, different lenses
Contracts and collateral
Both funds hold futures contracts, not physical commodities. USCI lists 14 commodities and COMT lists 24. 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 COMT 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, COMT 2014). 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 COMT yield, dividends and dividend growth
Yield and distribution facts| Measure | USCI | COMT |
|---|---|---|
| 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 | Annual |
Distribution frequency: USCI not captured, COMT annual. 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, COMT 0; gaps are marked Not captured. See what is dividend yield and yield vs total return.
USCI vs COMT 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%, COMT 59.4%. Top ten: USCI 73.1%, COMT 80.6%.
USCI vs COMT trading and liquidity
Issuer fund pages · Nov 9, 2026The issuers report bid/ask spreads of Not captured for USCI and 0.25% for COMT (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 COMT expense ratio and fees in dollars
As stated by each issuer| Balance | USCI (1.05%) | COMT (0.48%) | Gap per year |
|---|---|---|---|
| $10,000 | $105 | $48 | $57 |
| $50,000 | $525 | $240 | $285 |
| $100,000 | $1,050 | $480 | $570 |
Expense ratio is taken from fund assets, not billed. Net expense ratios are shown (USCI: total 1.05%; COMT: gross 0.49%, net 0.48% after a 0.01% waiver). Fees exclude the bid/ask spread, any premium or discount to NAV, brokerage commissions and taxes.
USCI vs COMT, 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.
COMT · S&P GSCI Dynamic Roll Index
COMT tracks the S&P GSCI Dynamic Roll Index. It holds futures on about 24 commodities and was launched in 2014; the ten largest commodities total 80.6% 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 COMT, 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 S&P GSCI Dynamic Roll Index follows the S&P GSCI but chooses which contract month to hold using roll yield, so it holds the GSCI mix with a different roll rule.
USCI follows the SummerHaven Dynamic Commodity Index Total Return and COMT uses the S&P GSCI Dynamic Roll Index. 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 COMT
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 S&P GSCI Dynamic Roll Index follows the S&P GSCI but chooses which contract month to hold using roll yield, so it holds the GSCI mix with a different roll rule. Then check what you already own: the funds overlap by 45.4%, 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; COMT holds S&P GSCI futures chosen for the best roll yield, plus cash and short-term notes.
- Step 2 · Cost: USCI 1.05% vs COMT 0.48% net expense ratio.
- Step 3 · Tax form: USCI issues a Schedule K-1; COMT 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 COMT for Canadian investors
Currency, withholding tax and account typeUSCI and COMT 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 COMT
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 56% of COMT, 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.
- COMT: ten largest commodities total 80.6% of futures exposure (Nov 9, 2026); exposure to 24 commodities.
- USCI: its 14-commodity basket is reset by rule and can concentrate in a few markets; it files a Schedule K-1. COMT: follows the GSCI with a dynamic roll rule, and its roll choice can differ from the index in a given month.
- Both: not registered as ordinary stock funds; see each prospectus for legal form and the risks of futures.
USCI vs COMT 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. COMT is a regulated fund that issues a standard 1099 rather than a Schedule K-1, but income from its futures and cash 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 COMT 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 COMT 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 COMT
Static weights from this pageIgnores taxes, spreads and holdings differences. ETF Fee Calculator.
Check shared exposure with the Diversification Calculator.
USCI vs COMT, 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
- Flatter top ten: 73.1% against 80.6%
- Led in 2 of 3 return windows (both to Sep 30, 2026)
- Exchange-traded and priced all day
Watch points
- Higher fee: 1.05% against 0.48%
- Not a complete portfolio
- Futures roll costs
COMT may suit investors who want…
GSCI exposure with a roll-yield rule.
Strengths
- Lower fee: 0.48% against 1.05%
- Futures on 24 commodities
- Exchange-traded and priced all day
- Holdings dated on this page
Watch points
- Heavier top ten: 80.6% against 73.1%
- Led in only 1 of 3 return windows (both to Sep 30, 2026)
- Not a complete portfolio
- Futures roll costs
USCI vs COMT investor scenarios
Characteristics that fit, not recommendationsUSCI vs COMT key terms
Plain-language definitions
USCI vs COMT, frequently asked questions
Answers use the figures and dates shown aboveIs USCI or COMT better?
In the USCI vs COMT question, neither is better for everyone. USCI and COMT 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 S&P GSCI Dynamic Roll Index follows the S&P GSCI but chooses which contract month to hold using roll yield, so it holds the GSCI mix with a different roll rule. Expense ratios are 1.05% and 0.48%. NAV total returns, annualized (both to Sep 30, 2026): 1 year 40.67% vs 48.38%; 5 years 21.73% vs 13.55%; 10 years 10.19% vs 9.63%. Neither is better for everyone; the choice turns on cost, tax form (K-1 or 1099), and what you already own.
USCI vs COMT, what are the expense ratios?
USCI charges 1.05% and COMT charges 0.48%, which is $105 and $48 a year per $10,000.
USCI vs COMT, how much do the funds overlap?
About 45.4% of the exposure is held by both funds, matched by commodity in issuer holdings dated Nov 9, 2026. 4 commodities appear in both top-ten lists.
USCI vs COMT, what does each ETF track?
USCI tracks the SummerHaven Dynamic Commodity Index Total Return. COMT tracks the S&P GSCI Dynamic Roll Index.
USCI vs COMT, 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%. COMT (Nov 9, 2026): Brent crude 19.07%, WTI crude 18.07%, Gold 7.92%, Gasoil 7.9%, Copper 6.47%.
USCI vs COMT, which has performed better?
NAV total returns, annualized (both to Sep 30, 2026): 1 year 40.67% vs 48.38%; 5 years 21.73% vs 13.55%; 10 years 10.19% vs 9.63%. Returns depend on commodity prices, roll yield and collateral income, and past performance does not guarantee future results.
USCI vs COMT, can I own both?
On USCI vs COMT, you can, but they overlap by about 45.4%. 4 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 COMT, how often do the funds pay dividends?
Distribution frequency: USCI not captured, COMT annual. Distribution rates are not captured for USCI and 1.61% for COMT; check each issuer page for the schedule.
USCI vs COMT, are they suitable for Canadian investors?
On USCI vs COMT, both are U.S.-listed and trade in U.S. dollars, so Canadians face currency conversion costs. USCI issues a Schedule K-1 and COMT issues a 1099, which can change reporting. Treatment differs across TFSA, RRSP and taxable accounts. This is general education, not tax advice.
USCI vs COMT, how do the funds differ by sector?
USCI (Nov 9, 2026): energy 34.0%, industrial metals 29.2%, agriculture 21.9%. COMT (Nov 9, 2026): energy 56.0%, agriculture 14.0%, industrial metals 12.7%.
USCI vs COMT documents and sources
Open the issuer documents before relying on any figureUSCI · United States Commodity Funds LLC
COMT · BlackRock (iShares)
Third-party sources
USCF USCI fund page · iShares COMT fund page.
Methodology and limits
- USCI figures come from United States Commodity Funds LLC fund pages and COMT figures from BlackRock (iShares) 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. COMT weights are each commodity’s share of futures notional value in the iShares holdings file of Nov 9, 2026.
- 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.