# DJP ETF: fees, returns, drawdowns and holdings

> What DJP holds, its 0.7% yearly fee, returns by year, its worst drop, and which Tactfolio strategies hold it. Updated daily.

iPath Bloomberg Commodity Index Total Return ETN (DJP) is an exchange-traded note (ETN), a kind of bond whose value follows an index run by iPath (Barclays). This is an exchange-traded note, which is a debt promise from Barclays Bank PLC, not a fund that owns things. It charges 0.7% a year. From October 2006 to October 2026 it returned about 0.4% a year, and its worst drop was −78.3%.

Written by [the Tactfolio research team](https://tactfolio.com/about/editorial-policy). Fund facts checked October 16, 2026. Prices through October 16, 2026.

## Key points

- Expense ratio: 0.7% a year (about $70 on $10,000).
- Started trading on June 6, 2006.
- Last close: $52.72 on October 16, 2026.
- Return over the last year: 46.3%.
- Worst drop since 2006: −78.3%.
- 1 Tactfolio classic strategy holds it.

## How has DJP done since 2006?

From October 2006 to October 2026, DJP returned about 0.4% a year. The S&P 500 returned about 11.0% a year over the same dates. Say you put in $10,000 at the start. It would have been worth about $10,859 at the end, with every dividend reinvested.

| Period | DJP | S&P 500 (SPY) |
| --- | --- | --- |
| 1 month | −1.0% | 1.5% |
| 3 months | 13.9% | 1.9% |
| 6 months | 10.7% | 9.3% |
| Year to date | 40.2% | 12.8% |
| 1 year | 46.3% | 16.8% |
| 3 years, per year | 17.8% | 22.0% |
| 5 years, per year | 11.5% | 12.8% |
| 10 years, per year | 8.3% | 15.4% |
| Since 2006, per year | 0.4% | 11.0% |

Periods longer than a year show the return per year (CAGR). Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

## DJP returns by month and year

DJP rose in 127 of its 241 months (53%). Its best month was May 2009, at 13.8%. Its worst was October 2008, at −21.5%.

| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Full year |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2026 (part) | 12.9% | 0.5% | 12.8% | 4.8% | −4.0% | −9.7% | 8.4% | 8.4% | 0.3% | 2.3% |  |  | 40.2% |
| 2025 | 4.7% | 0.9% | 4.1% | −5.8% | −0.6% | 2.7% | −0.7% | 2.3% | 2.6% | 3.1% | 3.5% | −0.6% | 17.2% |
| 2024 | 0.4% | −1.9% | 3.9% | 2.9% | 2.2% | −2.0% | −4.2% | −0.4% | 5.3% | −1.5% | −0.1% | 1.1% | 5.6% |
| 2023 | −0.6% | −5.7% | 0.0% | −0.9% | −6.5% | 4.5% | 7.3% | −1.0% | −1.0% | 0.5% | −3.0% | −3.0% | −9.8% |
| 2022 | 10.2% | 7.3% | 8.8% | 4.6% | 2.2% | −11.8% | 4.1% | −0.2% | −9.0% | 1.8% | 4.0% | −3.3% | 17.5% |
| 2021 | 2.9% | 7.7% | −2.5% | 9.8% | 3.1% | 1.6% | 2.4% | −0.9% | 6.0% | 3.4% | −8.7% | 4.0% | 31.1% |
| 2020 | −8.6% | −5.7% | −16.1% | −1.8% | 5.4% | 2.9% | 7.4% | 7.9% | −4.4% | 1.9% | 4.2% | 5.9% | −4.1% |
| 2019 | 5.7% | 1.2% | −0.2% | −0.5% | −4.3% | 3.1% | −1.2% | −2.3% | 1.5% | 2.1% | −2.7% | 5.5% | 7.6% |
| 2018 | 2.5% | −2.1% | −0.6% | 2.6% | 1.8% | −4.3% | −2.5% | −2.0% | 2.1% | −2.5% | −0.9% | −7.5% | −13.1% |
| 2017 | 0.0% | 0.1% | −3.0% | −1.9% | −1.7% | 0.0% | 2.6% | 0.2% | −0.2% | 2.6% | −0.7% | 3.0% | 0.7% |
| 2016 | −2.1% | −1.7% | 4.1% | 9.9% | −0.6% | 5.3% | −6.3% | −1.8% | 3.2% | −0.3% | 1.1% | 2.5% | 12.9% |
| 2015 | −4.5% | 2.8% | −5.6% | 6.4% | −3.1% | 1.7% | −11.8% | −1.3% | −3.4% | −0.8% | −8.3% | −3.5% | −28.2% |
| 2014 | 0.1% | 6.9% | 0.3% | 2.7% | −3.3% | 0.6% | −5.6% | −0.9% | −6.8% | −0.9% | −4.2% | −8.3% | −18.6% |
| 2013 | 2.3% | −4.6% | 0.6% | −2.8% | −2.9% | −4.8% | 1.4% | 3.9% | −3.1% | −1.7% | −0.9% | 1.2% | −11.1% |
| 2012 | 1.8% | 2.8% | −4.3% | −0.5% | −9.7% | 5.7% | 6.8% | 1.4% | 1.6% | −4.2% | 0.3% | −2.7% | −2.1% |
| 2011 | 0.9% | 1.6% | 2.0% | 3.4% | −5.2% | −6.2% | 4.0% | 0.7% | −15.6% | 7.2% | −2.0% | −3.7% | −14.0% |
| 2010 | −7.9% | 4.0% | −1.5% | 1.9% | −7.1% | −0.3% | 7.2% | −2.4% | 7.4% | 5.2% | −0.4% | 11.0% | 16.2% |
| 2009 | −5.1% | −4.6% | 3.7% | 0.8% | 13.8% | −2.1% | 3.0% | −1.1% | 1.9% | 3.5% | 3.6% | 2.3% | 20.1% |
| 2008 | 4.1% | 12.2% | −6.5% | 4.5% | 2.1% | 9.2% | −12.2% | −7.4% | −11.4% | −21.5% | −8.5% | −5.0% | −37.4% |
| 2007 | 0.0% | 3.2% | 0.6% | 1.1% | 0.3% | −1.5% | 1.8% | −3.6% | 8.0% | 3.5% | −3.2% | 4.4% | 14.9% |
| 2006 (part) |  |  |  |  |  |  |  |  |  | −0.1% | 5.5% | −4.4% | 0.8% |

Each month runs from the last close of the month before. The first month counts from the first close.

## How risky is DJP compared with the S&P 500?

Measured from October 2021 to October 2026, on the days both traded.

- **Beta 0.21.** When the S&P 500 moved 1% in a day, DJP tended to move about 0.21%.
- **Correlation 0.19.** DJP moved mostly on its own, apart from the S&P 500.
- **Up and down months.** In months the S&P 500 rose, DJP rose 52% as much on average. In months it fell, DJP fell 16% as much.

| Measure | DJP | S&P 500 (SPY) |
| --- | --- | --- |
| Return per year | 11.8% | 12.8% |
| Volatility | 18.9% | 17.1% |
| Worst drop | −29.0% | −24.5% |
| Sharpe ratio | 0.69 | 0.79 |
| Sortino ratio | 0.96 | 1.15 |
| Calmar ratio | 0.41 | 0.52 |

Volatility is how much the price swings in a year. The Sharpe ratio is return per unit of volatility, the Sortino ratio counts only the falls, and the Calmar ratio is the return per year over the worst drop. Higher ratios mean more return for the risk taken.

## Is DJP above its 200-day average?

DJP closed 12.1% above its 200-day average on October 16, 2026. A rule that holds DJP only above that average would hold it today.

- Its 50-day average is 9.4% above its 200-day average.
- It closed 1.6% below its highest close of the last 52 weeks.

A moving average is the average close over the last so many days. Trend rules such as [the 10-month moving average strategy](https://tactfolio.com/strategies/faber-10-month-moving-average.md) hold a fund only while it is above one. You can [build that rule for DJP](https://tactfolio.com/builder) and backtest it in a minute.

## What was DJP's worst drop?

A drawdown is how far a fund falls from its last high point. DJP's worst fall was −78.3%, from July 2, 2008 to April 21, 2020. By October 16, 2026 it had not yet climbed back to that high. On October 16, 2026 it was 27.9% below its highest close.

| Drop | Started | Bottom | Back to the high | Fall took | Recovery took |
| --- | --- | --- | --- | --- | --- |
| −78.3% | Jul 2, 2008 | Apr 21, 2020 | Not yet | 11.8 years | n/a |
| −10.5% | Mar 13, 2008 | Mar 20, 2008 | May 21, 2008 | 7 days | 2 months |
| −10.5% | Nov 30, 2006 | Jan 9, 2007 | Feb 26, 2007 | 40 days | 2 months |
| −8.3% | Jun 15, 2007 | Aug 21, 2007 | Sep 18, 2007 | 2 months | 28 days |
| −6.2% | Jan 14, 2008 | Jan 23, 2008 | Feb 8, 2008 | 9 days | 16 days |

Big drops are normal for some funds. They matter because selling during a drop locks in the loss.

## What does DJP hold?

This is an exchange-traded note, which is a debt promise from Barclays Bank PLC, not a fund that owns things. It pays back based on a broad commodity index that includes energy, metals and farm goods, minus a yearly fee. If Barclays could not pay its debts, investors could lose money even if commodities went up.

It tracks the Bloomberg Commodity Index Total Return.

| Fact | DJP |
| --- | --- |
| Full name | iPath Bloomberg Commodity Index Total Return ETN |
| Issuer | iPath (Barclays) |
| Expense ratio | 0.7% a year |
| Started trading | June 6, 2006 |
| Tracks | Bloomberg Commodity Index Total Return |
| Type | Commodities, ETN |
| Facts checked | October 16, 2026 on the [iPath (Barclays) fund page](https://www.sec.gov/Archives/edgar/data/312070/000191870426003783/form424b2.htm) |

## What is the DJP expense ratio?

DJP charges 0.7% a year. An expense ratio is the yearly fee a fund takes to run itself. On $10,000, a 0.7% fee comes to about $70 a year. Of the 162 ETFs on Tactfolio, 4% charge more.

You never get a bill for it. The fund takes the fee out of its own value a little each day.

## Which Tactfolio strategies hold DJP?

One classic strategy holds DJP at least some of the time. Each is a set of written rules you can open, test and copy.

- [Global Risk Parity Trend-Following (Clare et al.)](https://tactfolio.com/strategies/global-risk-parity-trend-following.md), by Andrew Clare, James Seaton, Peter N. Smith, and Stephen Thomas, 2016

## How does DJP compare with similar ETFs?

Funds that can stand in for DJP:

- [GSG](https://tactfolio.com/etf/GSG.md): iShares S&P GSCI Commodity-Indexed Trust, 0.75% a year
- [DBC](https://tactfolio.com/etf/DBC.md): Invesco DB Commodity Index Tracking Fund, 0.85% a year
- [GLDM](https://tactfolio.com/etf/GLDM.md): SPDR Gold MiniShares, 0.1% a year
- [SGOL](https://tactfolio.com/etf/SGOL.md): abrdn Physical Gold Shares ETF, 0.17% a year

See [all 8 DJP alternatives](https://tactfolio.com/alternatives/DJP.md), compared on the same dates as DJP.

## Test DJP in your own rules

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the [builder](https://tactfolio.com/builder), add DJP, and see how a rule such as "hold it only above its 200-day average" would have done. Strategies run on daily prices and hold US stocks and ETFs only.

## The details

Prices come from Tactfolio's stored daily prices for DJP and SPY. Each close is adjusted for splits, and dividends are reinvested on the day the fund pays them out. CAGR is the steady yearly return that turns the starting value into the ending value. Volatility is the yearly standard deviation of daily returns. Beta and correlation compare daily returns with the S&P 500 over the same dates.

Fund facts come from iPath (Barclays). We checked them on October 16, 2026. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) and [how to read drawdown and CAGR](https://tactfolio.com/docs/concepts/reading-a-backtest.md) for more on these measures.

## Research and test it

- [Commodities](https://tactfolio.com/learn/commodities-explained): Commodities are raw goods like oil, gold and wheat.
- [Risk parity](https://tactfolio.com/learn/risk-parity): Risk parity balances risk instead of dollars. See a simple stock and bond example, why funds use leverage, and what went wrong in 2022.
- [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side.
- [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples.
- [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share.
- [Backtesting](https://tactfolio.com/backtesting): Free backtesting software for stocks, ETFs, and crypto perps.

## Common questions

### What is the expense ratio of DJP?

DJP charges 0.7% a year, according to iPath (Barclays) as of October 16, 2026. That is about $70 a year for every $10,000 you hold.

### When did DJP start trading?

DJP started trading on June 6, 2006. It is run by iPath (Barclays).

### What does DJP track?

DJP tracks the Bloomberg Commodity Index Total Return. This is an exchange-traded note, which is a debt promise from Barclays Bank PLC, not a fund that owns things.

### How much has DJP returned per year?

From October 2006 to October 2026, DJP returned about 0.4% a year with dividends reinvested. Its worst drop was −78.3%. Past returns do not tell you what it will do next.

### Is DJP above its 200-day moving average?

On October 16, 2026, DJP closed 12.1% above its 200-day moving average. This page updates after each US market close.

### Which strategies use DJP?

One of Tactfolio's classic strategies hold DJP, including Global Risk Parity Trend-Following (Clare et al.).

## Sources

- [iPath (Barclays): iPath Bloomberg Commodity Index Total Return ETN fund page](https://www.sec.gov/Archives/edgar/data/312070/000191870426003783/form424b2.htm)

> Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in.