United States Commodity Index Fund LP (USCI) Performance
USCI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +44.6% since Dec 31, 2025
- 1 year
- +41.9% total return
- 5 years
- +20.5% a year
- 10 years
- +10.6% a year
- Since first price
- +5.1% a year since 2010
USCI trailing returns vs SPY, QQQ, AGG
| Period | USCI total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.3% | +1.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +9.0% | +9.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +14.2% | +14.2% | +7.8% | +8.4% | −1.5% |
| YTD | +44.6% | +44.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +41.9% | +41.9% | +14.4% | +15.9% | −1.1% |
| 3 years | +88.8%+23.6%/yr | +88.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +154.1%+20.5%/yr | +154.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +173.3%+10.6%/yr | +173.3% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +84.9%+4.2%/yr | +84.9% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionAug 10, 2010 | +123.9%+5.1%/yr | +123.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: USCI vs SPY
From Aug 10, 2010: USCI grew to $22,395, SPY to $90,042.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
USCI returns by calendar year
6 of 15 full years positive. Best 2021 (+33.1%), worst 2015 (−16.2%). 2026 is year to date.
USCI annual returns table
| Year | USCI | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +44.6% | −11.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +17.6% | −12.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +17.2% | −8.6% | +24.9% | +25.6% | +1.3% |
| 2023 | 0.0% | −9.2% | +26.2% | +54.9% | +5.7% |
| 2022 | +29.5% | −18.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +33.1% | −10.4% | +28.7% | +27.4% | −1.8% |
| 2020 | −11.5% | −33.9% | +18.3% | +48.6% | +7.5% |
| 2019 | −1.7% | −12.4% | +31.2% | +39.0% | +8.5% |
| 2018 | −11.8% | −17.2% | −4.6% | −0.1% | +0.1% |
| 2017 | +6.3% | −9.4% | +21.7% | +32.7% | +3.6% |
| 2016 | −1.2% | −8.6% | +12.0% | +7.1% | +2.4% |
| 2015 | −16.2% | −18.3% | +1.2% | +9.4% | +0.5% |
| 2014 | −13.9% | −21.1% | +13.5% | +19.2% | +6.0% |
| 2013 | −4.3% | −11.7% | +32.3% | +36.6% | −2.0% |
| 2012 | +0.4% | −14.5% | +16.0% | +18.1% | +3.8% |
| 2011 | −9.5% | −22.1% | +1.9% | +3.4% | +7.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
USCI largest drawdowns
At an all-time high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 8, 2011 | −66.4% | Mar 18, 2020 | Apr 1, 2025 | 8.9 years | 14.0 years |
| Apr 2, 2025 | −12.0% | Apr 8, 2025 | Jun 13, 2025 | 6 days | 2 months |
| May 12, 2026 | −11.2% | Jun 24, 2026 | Jul 23, 2026 | 43 days | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
USCI risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2010 |
|---|---|---|---|---|
| Annualized return | +22.8% | +21.8% | +10.2% | +5.0% |
| Volatility (annualized) | 12.9% | 15.2% | 15.3% | 14.9% |
| Sharpe ratio | 1.32 | 1.14 | 0.56 | 0.31 |
| Sortino ratio | 3.00 | 2.17 | 0.88 | 0.46 |
| Best month | +11.6% | +11.6% | +11.6% | +11.6% |
| Worst month | −5.3% | −8.4% | −16.9% | −16.9% |
| Best 12 months | +46.0% | +46.0% | +54.8% | +54.8% |
| Worst 12 months | +5.5% | −13.2% | −33.1% | −33.1% |
| Positive months | 69% | 72% | 61% | 55% |
| Beta vs S&P 500 | -0.11 | 0.15 | 0.33 | — |
| Correlation with S&P 500 | -0.11 | 0.15 | 0.33 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
USCI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 183 | −33.1% | +0.1% | +54.8% | 51% |
| 3-year (a year) | 159 | −14.1% | −1.8% | +28.3% | 40% |
| 5-year (a year) | 135 | −11.4% | −1.7% | +22.7% | 44% |
| 10-year (a year) | 75 | −6.7% | +0.3% | +10.3% | 55% |
Every holding period starting at a month-end since 2010. Returns for 3 years and longer are annualized.
USCI performance overview
United States Commodity Index Fund LP (USCI) returned +41.9% over the past year and +10.6% a year over ten years, with distributions reinvested. Since its first recorded price in 2010 it has returned +5.1% a year, turning $10,000 into about $22,395. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −66.4%, from Apr 8, 2011 to Mar 18, 2020, and it took 5.0 years to get back to the old high. USCI finished 6 of its 15 full calendar years with a gain; the best year was 2021 (+33.1%) and the worst 2015 (−16.2%). Volatility has been 14.9% a year.
Related: USCI chart. See the USCI overview for the latest quote and fund facts.
USCI performance FAQ
What is the USCI return over the past year?
USCI returned +41.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 41.9%.
What is the average annual return of USCI?
USCI has returned +20.5% a year over 5 years, +10.6% a year over 10 years, +5.1% a year since August 10, 2010 (total return, distributions reinvested).
How much would $10,000 invested in USCI be worth?
$10,000 invested in USCI at its first recorded close on August 10, 2010 would be worth about $22,395 on October 23, 2026 with distributions reinvested.
What was the worst year for USCI?
The worst calendar year was 2015, with a total return of −16.2%. The best was 2021 at +33.1%.
What is the biggest drawdown of USCI?
The largest peak-to-trough decline was −66.4% between April 8, 2011 and March 18, 2020. It recovered to the old high on April 1, 2025, 5.0 years after the bottom.
How volatile is USCI?
Over the past 3 years USCI had an annualized volatility of 12.9% and a Sharpe ratio of 1.32 (excess return over 1–3 month T-bills per unit of risk).