DCMT vs SPY
DoubleLine Commodity Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. DCMT delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | DCMT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.66% | 0.09% | |
| AUM | $39M | $789.1B | |
| Dividend Yield | 3.11% | 1.01% | |
| Holdings | 9 | 505 | |
| YTD Return | +31.56% | +13.68% | |
| 1Y Return | +37.58% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 16.1% | 15.3% | |
| Max Drawdown | -16.0% | -56.5% | |
| Fund Family | DoubleLine Funds | State Street Investment Management | |
| Category | Commodity | Equity | |
| Inception | Jan 31, 2024 | Jan 22, 1993 |
DCMT vs SPY Performance
DoubleLine Commodity Strategy ETF (DCMT) is a ETF from DoubleLine Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DCMT returned +37.58% while SPY returned +21.53%. Year to date, DCMT is up 31.56% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
DCMT has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -16.0% for DCMT and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.03. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DCMT charges 0.66% per year while SPY charges 0.09%. On a $10,000 position that is $66 vs $9 annually, a gap of $57 per year that compounds over a long holding period. On income, DCMT currently yields 3.11% against 1.01% for SPY.
Holdings Overlap
DCMT and SPY share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DCMT or SPY?
DCMT has an expense ratio of 0.66% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $57 per year of difference.
Which performed better, DCMT or SPY?
Over the past year DCMT returned +37.58% vs +21.53% for SPY, so DCMT leads on 1-year performance. Over the longest common window we track (3 years), DCMT annualized +15.66% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, DCMT or SPY?
DCMT has been the more volatile fund at 16.1% annualized versus 15.3% for SPY. Worst drawdown: DCMT -16.0% vs SPY -56.5%.
Should I hold both DCMT and SPY?
DCMT and SPY have a monthly-return correlation of -0.03, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DCMT and SPY?
DCMT and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, DCMT or SPY?
DCMT yields 3.11% while SPY yields 1.01%, so DCMT currently pays the higher dividend yield.
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