- ISIN
- US92189Y5015
- CUSIP
- 92189Y501
- Issuer
- VanEck
- Inception Date
- Aug 21, 2023
- Region
- Global (Broad)
- Category
- Commodities
- Leveraged
- 1x (No leverage)
- Index Tracked
- UBS Bloomberg CMCI Composite Total Return Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Commodity
Share Price Chart
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Performance
CMCI Performance Chart
VanEck CMCI Commodity Strategy ETF (CMCI) is up 16.3% since the beginning of the year. CMCI is currently trading at $28 per share.
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Returns By Period
VanEck CMCI Commodity Strategy ETF (CMCI) has returned 16.29% so far this year and 18.25% over the past 12 months.
VanEck CMCI Commodity Strategy ETF
- 1D
- -0.32%
- 1M
- -5.50%
- YTD
- 16.29%
- 6M
- 17.11%
- 1Y
- 18.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CMCI Monthly Returns History
Based on dividend-adjusted daily data since Aug 23, 2023, CMCI's average daily return is +0.04%, while the average monthly return is +0.77%. At this rate, an investment would double in approximately 7.5 years.
Historically, 63% of months were positive and 37% were negative. The best month was Mar 2026 with a return of +8.6%, while the worst month was Apr 2025 at -5.9%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 3 months.
On a daily basis, CMCI closed higher 53% of trading days. The best single day was Jan 10, 2025 with a return of +6.1%, while the worst single day was Apr 4, 2025 at -3.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.74% | 1.63% | 8.61% | 4.49% | -0.34% | -4.33% | 16.29% | ||||||
| 2025 | 2.46% | -0.20% | 2.32% | -5.93% | 1.24% | 2.62% | 0.72% | 1.18% | 0.81% | 1.31% | 0.17% | 1.23% | 7.90% |
| 2024 | 1.43% | -0.84% | 4.31% | 2.40% | 0.64% | -1.31% | -3.59% | -0.72% | 3.38% | -0.57% | -0.80% | 1.47% | 5.68% |
| 2023 | 1.33% | 0.17% | -0.78% | -1.18% | -2.28% | -2.74% |
Benchmark Metrics
VanEck CMCI Commodity Strategy ETF has an annualized alpha of 6.64%, beta of 0.17, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since August 23, 2023.
- This ETF captured 20.16% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -20.59%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.17 may look defensive, but with R2 of 0.04 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.04 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 6.64%
- Beta
- 0.17
- R²
- 0.04
- Upside Capture
- 20.16%
- Downside Capture
- -20.59%
Expense Ratio
CMCI has an expense ratio of 0.65%, placing it in the medium range.
Return for Risk
Risk / Return Rank
CMCI ranks 45 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for VanEck CMCI Commodity Strategy ETF (CMCI) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CMCI | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.37 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.78 | -0.60 |
| Martin ratioReturn relative to average drawdown | 8.51 | 12.44 | -3.93 |
Dividends
Dividend History
VanEck CMCI Commodity Strategy ETF provided a 8.50% dividend yield over the last twelve months, with an annual payout of $2.37 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $2.37 | $2.37 | $0.96 | $0.40 |
Dividend yield | 8.50% | 9.89% | 3.93% | 1.64% |
Monthly Dividends
The table displays the monthly dividend distributions for VanEck CMCI Commodity Strategy ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.37 | $2.37 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.96 | $0.96 |
| 2023 | $0.40 | $0.40 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the VanEck CMCI Commodity Strategy ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the VanEck CMCI Commodity Strategy ETF was 11.54%, occurring on Sep 10, 2024. Recovery took 84 trading sessions.
The current VanEck CMCI Commodity Strategy ETF drawdown is 8.41%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2024 correction2024 | -11.54%Sep 2024 | 3mo 22d | 4mo 2d | 7mo 24dMay 2024 - Jan 2025 |
2025 selloff2025 | -10.60%Apr 2025 | 2mo 25d | 6mo 29d | 9mo 24dJan 2025 - Nov 2025 |
2026 pullback2026 | -8.41%Jun 2026 | 1mo 10d | — | 1mo 11dMay 2026 - now |
2023 pullback2023 | -8.36%Dec 2023 | 2mo 28d | 3mo 23d | 6mo 21dSep 2023 - Apr 2024 |
2026 pullback2026 | -5.03%Feb 2026 | 3d | 28d | 1mo 1dJan 2026 - Mar 2026 |
Drawdown Indicators
| CMCI | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.54% | -56.78% | +45.24% |
Max Drawdown (1Y)Largest decline over 1 year | -8.41% | -9.10% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -8.41% | -1.80% | -6.61% |
Average DrawdownAverage peak-to-trough decline | -3.59% | -10.71% | +7.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 2.03% | +0.38% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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