AVIG vs. CERY

Last updated Jun 23, 2026

AVIG (Avantis Core Fixed Income ETF) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both exchange-traded funds - AVIG is a Intermediate Core Bond fund actively managed by Avantis, while CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index. AVIG is actively managed, while CERY is passively managed. Over the past year, AVIG returned 4.63% vs 26.17% for CERY. At a correlation of -0.14, they often move in opposite directions. AVIG charges 0.15%/yr vs 0.28%/yr for CERY.

Performance

AVIG vs. CERY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Core Fixed Income ETF (AVIG) and SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVIG achieves a 0.10% return, which is significantly lower than CERY's 19.54% return.

AVIG

• 1D: -0.25%
• 1M: 0.39%
• YTD: 0.10%
• 6M: 0.25%
• 1Y: 4.63%
• 3Y*: 4.41%
• 5Y*: 0.08%
• 10Y*: —

CERY

• 1D: -0.67%
• 1M: -8.39%
• YTD: 19.54%
• 6M: 18.91%
• 1Y: 26.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVIG vs. CERY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVIG Avantis Core Fixed Income ETF	0.10%	7.98%	-2.46%
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	19.54%	15.68%	3.80%

Correlation

The correlation between AVIG and CERY is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.24
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	-0.14

The correlation between AVIG and CERY shifts across timeframes, from -0.24 (1 year) to -0.14 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AVIG vs. CERY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVIG

AVIG Risk / Return Rank: 34
AVIG Sharpe Ratio Rank: 35
AVIG Sortino Ratio Rank: 35
AVIG Omega Ratio Rank: 32
AVIG Calmar Ratio Rank: 34
AVIG Martin Ratio Rank: 33

CERY

CERY Risk / Return Rank: 50
CERY Sharpe Ratio Rank: 50
CERY Sortino Ratio Rank: 47
CERY Omega Ratio Rank: 47
CERY Calmar Ratio Rank: 48
CERY Martin Ratio Rank: 58

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVIG vs. CERY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Core Fixed Income ETF (AVIG) and SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AVIG	CERY	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.68	-0.47
Sortino ratio: Return per unit of downside risk	1.78	2.26	-0.48
Omega ratio: Gain probability vs. loss probability	1.21	1.29	-0.08
Calmar ratio: Return relative to maximum drawdown	1.65	2.31	-0.66
Martin ratio: Return relative to average drawdown	4.71	9.93	-5.22

AVIG vs. CERY - Sharpe Ratio Comparison

The current AVIG Sharpe Ratio is 1.22, which is comparable to the CERY Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of AVIG and CERY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVIG vs. CERY - Drawdown Comparison

The maximum AVIG drawdown since its inception was -19.64%, which is greater than CERY's maximum drawdown of -11.37%. Use the drawdown chart below to compare losses from any high point for AVIG and CERY.

Drawdown Indicators

	AVIG	CERY	Difference
Max Drawdown Largest peak-to-trough decline	-19.64%	-11.37%	-8.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-11.37%	+8.55%
Max Drawdown (3Y) Largest decline over 3 years	-6.03%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.47%	—	—
Current Drawdown Current decline from peak	-1.63%	-11.37%	+9.74%
Average Drawdown Average peak-to-trough decline	-7.70%	-2.27%	-5.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	2.83%	-1.84%

Volatility

AVIG vs. CERY - Volatility Comparison

The current volatility for Avantis Core Fixed Income ETF (AVIG) is 1.15%, while SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) has a volatility of 3.57%. This indicates that AVIG experiences smaller price fluctuations and is considered to be less risky than CERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVIG	CERY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	3.57%	-2.42%
Volatility (6M) Calculated over the trailing 6-month period	2.97%	13.57%	-10.60%
Volatility (1Y) Calculated over the trailing 1-year period	3.83%	15.63%	-11.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.24%	14.73%	-8.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.99%	14.73%	-8.74%

AVIG vs. CERY - Expense Ratio Comparison

AVIG has a 0.15% expense ratio, which is lower than CERY's 0.28% expense ratio.

Dividends

AVIG vs. CERY - Dividend Comparison

AVIG's dividend yield for the trailing twelve months is around 4.38%, more than CERY's 4.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
AVIG Avantis Core Fixed Income ETF	4.38%	4.36%	4.66%	4.06%	2.53%	1.12%	0.22%
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	4.18%	4.99%	0.52%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVIG and CERY in my portfolio?

AVIG and CERY have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVIG or CERY?

CERY has higher volatility (3.57%) compared to AVIG (1.15%). In terms of maximum drawdown, AVIG dropped -19.64% vs CERY's -11.37%.

Which ETF is better, AVIG or CERY?

On 1-year performance, CERY leads with 26.17% vs 4.63% for AVIG. On fees, AVIG is cheaper at 0.15% per year. On volatility, AVIG has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVIG or CERY?

Over the 1-year period, CERY has performed better with a 26.17% return vs 4.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVIG or CERY?

AVIG is cheaper with a 0.15% expense ratio, compared with 0.28% for CERY.

Which ETF pays a higher dividend yield, AVIG or CERY?

AVIG has the higher dividend yield at 4.38%, compared with 4.18% for CERY.

What is the main difference between AVIG and CERY?

AVIG is categorized as Intermediate Core Bond, while CERY is Commodities. They also come from different issuers: Avantis and State Street. Their fees differ too: 0.15% for AVIG and 0.28% for CERY.

Which has better risk-adjusted returns?

CERY currently has the higher Sharpe Ratio (1.68 vs 1.22), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.