# 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.
- Worst drop since 2006: −78.3%.
- 1 Tactfolio classic strategy holds it.

## 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.

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

## How has DJP done since 2006?

From October 2006 to October 2026, DJP returned about 0.4% a year. Say you put in $10,000 at the start. It would have been worth about $10,859 at the end, with every dividend reinvested.

| Measure | DJP |
| --- | --- |
| Total return | 8.6% |
| Return per year (CAGR) | 0.4% |
| Worst drop from a high | −78.3% |
| Volatility (how much it swings) | 18.0% |
| Last 12 months | 46.3% |
| Last 3 years, per year | 17.8% |
| Last 5 years, per year | 11.5% |
| Last 10 years, per year | 8.3% |

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 year

| Year | DJP return |
| --- | --- |
| 2026 (part of the year) | 40.2% |
| 2025 | 17.2% |
| 2024 | 5.6% |
| 2023 | −9.8% |
| 2022 | 17.5% |
| 2021 | 31.1% |
| 2020 | −4.1% |
| 2019 | 7.6% |
| 2018 | −13.1% |
| 2017 | 0.7% |
| 2016 | 12.9% |
| 2015 | −28.2% |
| 2014 | −18.6% |
| 2013 | −11.1% |
| 2012 | −2.1% |
| 2011 | −14.0% |
| 2010 | 16.2% |
| 2009 | 20.1% |
| 2008 | −37.4% |
| 2007 | 14.9% |
| 2006 (part of the year) | 0.8% |

## 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.

The chart shows how far below its last high the fund was on each day. Big drops are normal for some funds. They matter because selling during a drop locks in the loss.

## 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. 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.

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.

### 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.