CAF vs USCI

Comparison between Morgan Stanley China A Share Fund Inc (CAF, ETF) and United States Commodity Index Fund (USCI, ETF).

5-Year PerformanceUSCI has outperformed CAF, delivering a return of +20.3% compared to +0.2%

CAF vs USCI - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CAF(ETF)	USCI(ETF)
Net Assets	$340M	$337M
Expense Ratio	N/A	1.05%
Max Drawdown	84.15%	66.41%
Sharpe Ratio	1.68	1.65
5Y Beta	0.42	0.17
5Y Dividends CAGR	-39.05%	N/A

Net Assets

Winner

CAF

$340M

USCI

$337M

Expense Ratio

CAF

N/A

USCI

1.05%

Max Drawdown

CAF

84.15%

Winner

USCI

66.41%

Sharpe Ratio

Winner

CAF

1.68

USCI

1.65

5Y Beta

CAF

0.42

Winner

USCI

0.17

5Y Dividends CAGR

CAF

-39.05%

USCI

N/A

CAF vs USCI - Historical Returns

Returns include dividend reinvestment.

Period	CAF	USCI
1 month	-1.03%	+9.49%
3 months	+12.65%	+5.23%
6 months	+12.15%	+23.25%
1 year	+43.16%	+34.58%
5 years(CAGR)	+0.25%	+20.32%
10 years(CAGR)	+5.56%	+9.28%
Max(CAGR)	+9.17%	+4.53%

CAF

-1.03%

Winner

USCI

+9.49%

Winner

CAF

+12.65%

USCI

+5.23%

CAF

+12.15%

Winner

USCI

+23.25%

Winner

CAF

+43.16%

USCI

+34.58%

5Y(CAGR)

CAF

+0.25%

Winner

USCI

+20.32%

10Y(CAGR)

CAF

+5.56%

Winner

USCI

+9.28%

Max(CAGR)

Winner

CAF

+9.17%

USCI

+4.53%

CAF vs USCI - Annual Returns (2006 - 2026)

Returns include dividend reinvestment.

Year	CAF	USCI
2026	+12.53%	+31.01%
2025	+42.50%	+16.65%
2024	+0.52%	+16.99%
2023	-9.64%	+1.79%
2022	-31.42%	+28.52%
2021	-2.55%	+32.17%
2020	+10.91%	-11.95%
2019	+24.02%	-1.39%
2018	-15.74%	-12.54%
2017	+41.08%	+6.94%
2016	-7.41%	-0.22%
2015	+12.06%	-15.90%
2014	+38.76%	-12.99%
2013	-4.11%	-4.82%
2012	+32.20%	-2.58%
2011	-29.66%	-9.69%
2010	-8.64%	+28.71%
2009	+59.50%	N/A
2008	-49.62%	N/A
2007	+89.68%	N/A
2006	+54.38%	N/A

CAF vs USCI Drawdown Comparison

The maximum drawdown for CAF was -66.21%, occurring on Nov 6, 2008. Recovery took 1892 trading sessions.

The maximum drawdown for USCI was -66.41%, occurring on Mar 18, 2020. Recovery took 3515 trading sessions.

The current CAF drawdown is -5.67%. The current USCI drawdown is -1.16%.

Rank	CAF	USCI
#1	-66.21% Sep 27, 2007 - Apr 6, 2015	-66.41% Apr 8, 2011 - Apr 1, 2025
#2	-49.04% Jun 1, 2021 - Jul 1, 2026	-12.01% Apr 2, 2025 - Jun 13, 2025
#3	-39.21% Jun 11, 2015 - May 16, 2017	-11.19% May 12, 2026 - Jun 24, 2026
#4	-33.95% Jan 26, 2018 - Dec 14, 2020	-8.73% Jan 29, 2026 - Mar 5, 2026
#5	-18.59% Jan 3, 2007 - Apr 3, 2007	-8.31% Mar 4, 2011 - Apr 8, 2011
#6	-13.35% Aug 13, 2007 - Aug 22, 2007	-7.75% Nov 10, 2010 - Dec 13, 2010
#7	-11.69% May 7, 2007 - Jun 14, 2007	-4.54% Jun 18, 2025 - Aug 22, 2025
#8	-10.34% Apr 27, 2015 - May 26, 2015	-3.87% Nov 11, 2025 - Jan 12, 2026
#9	-9.52% Jun 20, 2017 - Sep 7, 2017	-3.69% Feb 17, 2011 - Mar 2, 2011
#10	-8.39% Jul 1, 2026 - Jul 17, 2026	-3.57% Mar 20, 2026 - Mar 27, 2026
#11	-7.52% Jun 19, 2007 - Jul 11, 2007	-3.54% Sep 16, 2025 - Oct 23, 2025
#12	-7.09% Sep 6, 2007 - Sep 18, 2007	-2.72% Aug 17, 2010 - Sep 2, 2010
#13	-6.85% Aug 27, 2007 - Aug 31, 2007	-2.62% Oct 14, 2010 - Oct 25, 2010
#14	-6.61% Oct 5, 2006 - Nov 29, 2006	-2.46% Apr 16, 2026 - Apr 22, 2026
#15	-5.76% Jan 5, 2021 - Feb 16, 2021	-2.33% May 5, 2026 - May 11, 2026