Create dmg file on macOS 10.14 that can be opened on macOS 10.11 Running

$ hdiutil create -size &lt;size&gt;b &lt;.dmg-file&gt; -srcfolder &lt;directory&gt; -ov -format UDBZ


on macOS 10.14 creates a dmg file that can't be opened on macOS 10.11. Is there an option that creates the dmg file that way that it can be used on macOS 10.11?
If the source folder is in a APFS volume, then by default a APFS volume will be created in the dmg file. This type of volume can not be read by El Capitan. The solution would be to create a dmg file which uses JHFS+ format. The correct command you should be using is given below.

hdiutil create -size &lt;size&gt;b -fs JHFS+ &lt;.dmg-file&gt; -srcfolder &lt;directory&gt; -ov -format UDBZ



  Note: When testing this answer, I used the -megabytes option instead of the -size option. Also, I tested while running High Sierra instead of Mojave.