BBEU vs. CMDY

Last updated Jun 9, 2026

BBEU (JPMorgan BetaBuilders Europe ETF) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both exchange-traded funds - BBEU is a Europe Equities fund tracking the Morningstar Developed Europe Target Market Exposure Index, while CMDY is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 5 years, BBEU returned 8.62%/yr vs 9.88%/yr for CMDY. At a 0.28 correlation, their price movements are largely independent. BBEU charges 0.09%/yr vs 0.28%/yr for CMDY.

Performance

BBEU vs. CMDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders Europe ETF (BBEU) and iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBEU achieves a 5.14% return, which is significantly lower than CMDY's 21.76% return.

BBEU

• 1D: 0.47%
• 1M: -0.53%
• YTD: 5.14%
• 6M: 8.45%
• 1Y: 16.57%
• 3Y*: 16.39%
• 5Y*: 8.62%
• 10Y*: —

CMDY

• 1D: 0.27%
• 1M: -3.10%
• YTD: 21.76%
• 6M: 21.83%
• 1Y: 31.65%
• 3Y*: 14.14%
• 5Y*: 9.88%
• 10Y*: —

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

BBEU vs. CMDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BBEU JPMorgan BetaBuilders Europe ETF	5.14%	36.37%	1.85%	20.31%	-14.72%	17.50%	5.00%	23.96%	-13.25%
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	21.76%	15.81%	5.43%	-9.33%	14.55%	26.38%	1.15%	4.96%	-11.67%

Correlation

The correlation between BBEU and CMDY is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jun 19, 2018	0.28

The correlation between BBEU and CMDY shifts across timeframes, from -0.07 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.

BBEU vs. CMDY - Sectors Allocation Comparison

Sectors	BBEU	CMDY
Financial Services	21.7%	-
Industrials	14.9%	-
Healthcare	10.7%	-
Consumer Defensive	8.3%	-
Technology	7.8%	-
Consumer Cyclical	4.8%	-
Basic Materials	4.5%	-
Energy	3.4%	-
Utilities	2.9%	-
Communication Services	2.8%	100.0%
Real Estate	0.3%	-

Return for Risk

BBEU vs. CMDY — Risk / Return Rank

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

BBEU

BBEU Risk / Return Rank: 32
BBEU Sharpe Ratio Rank: 32
BBEU Sortino Ratio Rank: 32
BBEU Omega Ratio Rank: 31
BBEU Calmar Ratio Rank: 30
BBEU Martin Ratio Rank: 36

CMDY

CMDY Risk / Return Rank: 69
CMDY Sharpe Ratio Rank: 66
CMDY Sortino Ratio Rank: 59
CMDY Omega Ratio Rank: 66
CMDY Calmar Ratio Rank: 84
CMDY Martin Ratio Rank: 71

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.

BBEU vs. CMDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Europe ETF (BBEU) and iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY). 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.

	BBEU	CMDY	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.96	-0.89
Sortino ratio: Return per unit of downside risk	1.57	2.51	-0.94
Omega ratio: Gain probability vs. loss probability	1.19	1.35	-0.16
Calmar ratio: Return relative to maximum drawdown	1.36	4.11	-2.75
Martin ratio: Return relative to average drawdown	5.04	11.95	-6.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBEU vs. CMDY - Sharpe Ratio Comparison

The current BBEU Sharpe Ratio is 1.06, which is lower than the CMDY Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of BBEU and CMDY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBEU	CMDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	1.96	-0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.63	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.53	-0.06

Drawdowns

BBEU vs. CMDY - Drawdown Comparison

The maximum BBEU drawdown since its inception was -36.27%, which is greater than CMDY's maximum drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for BBEU and CMDY.

Drawdown Indicators

	BBEU	CMDY	Difference
Max Drawdown Largest peak-to-trough decline	-36.27%	-31.19%	-5.08%
Max Drawdown (1Y) Largest decline over 1 year	-12.23%	-7.73%	-4.50%
Max Drawdown (3Y) Largest decline over 3 years	-14.23%	-10.08%	-4.15%
Max Drawdown (5Y) Largest decline over 5 years	-31.08%	-26.56%	-4.52%
Current Drawdown Current decline from peak	-3.01%	-6.78%	+3.77%
Average Drawdown Average peak-to-trough decline	-6.13%	-13.13%	+7.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	2.66%	+0.64%

Volatility

BBEU vs. CMDY - Volatility Comparison

The current volatility for JPMorgan BetaBuilders Europe ETF (BBEU) is 4.79%, while iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) has a volatility of 5.12%. This indicates that BBEU experiences smaller price fluctuations and is considered to be less risky than CMDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBEU	CMDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.79%	5.12%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	13.18%	14.45%	-1.27%
Volatility (1Y) Calculated over the trailing 1-year period	15.67%	16.28%	-0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.52%	15.83%	+1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.32%	14.65%	+4.67%

BBEU vs. CMDY - Expense Ratio Comparison

BBEU has a 0.09% expense ratio, which is lower than CMDY's 0.28% expense ratio.

Dividends

BBEU vs. CMDY - Dividend Comparison

BBEU's dividend yield for the trailing twelve months is around 2.83%, less than CMDY's 10.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBEU JPMorgan BetaBuilders Europe ETF	2.83%	2.83%	4.16%	2.94%	4.72%	2.63%	2.29%	3.24%	0.49%
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	10.59%	12.89%	4.23%	5.10%	3.98%	16.09%	0.15%	2.21%	1.73%

Frequently Asked Questions

Can I hold both BBEU and CMDY in my portfolio?

BBEU and CMDY have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBEU or CMDY?

CMDY has higher volatility (5.12%) compared to BBEU (4.79%). In terms of maximum drawdown, BBEU dropped -36.27% vs CMDY's -31.19%.

Which ETF is better, BBEU or CMDY?

On 5-year performance, CMDY leads with 9.88% vs 8.62% for BBEU. On fees, BBEU is cheaper at 0.09% per year. On volatility, BBEU has been the lower-risk option at 4.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBEU or CMDY?

Over the 5-year period, CMDY has performed better with a 9.88% return vs 8.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBEU or CMDY?

BBEU is cheaper with a 0.09% expense ratio, compared with 0.28% for CMDY.

Which ETF pays a higher dividend yield, BBEU or CMDY?

CMDY has the higher dividend yield at 10.59%, compared with 2.83% for BBEU.

What is the main difference between BBEU and CMDY?

BBEU is categorized as Europe Equities, while CMDY is Commodities. BBEU tracks Morningstar Developed Europe Target Market Exposure Index, while CMDY tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.09% for BBEU and 0.28% for CMDY.

Which has better risk-adjusted returns?

CMDY currently has the higher Sharpe Ratio (1.96 vs 1.06), 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.