BBLB vs. PIT

Last updated Jun 25, 2026

BBLB (JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - BBLB is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while PIT is a Commodities fund actively managed by VanEck. BBLB is passively managed, while PIT is actively managed. Over the past 3 years, BBLB returned -1.31%/yr vs 18.03%/yr for PIT. At a correlation of -0.14, they often move in opposite directions. BBLB charges 0.04%/yr vs 0.55%/yr for PIT.

Performance

BBLB vs. PIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) and VanEck Commodity Strategy ETF (PIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBLB achieves a 2.07% return, which is significantly lower than PIT's 22.64% return.

BBLB

• 1D: 1.34%
• 1M: 3.65%
• YTD: 2.07%
• 6M: 1.17%
• 1Y: 4.61%
• 3Y*: -1.31%
• 5Y*: —
• 10Y*: —

PIT

• 1D: -2.37%
• 1M: -13.88%
• YTD: 22.64%
• 6M: 20.86%
• 1Y: 39.22%
• 3Y*: 18.03%
• 5Y*: —
• 10Y*: —

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

BBLB vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF	2.07%	4.26%	-7.84%	-2.80%
PIT VanEck Commodity Strategy ETF	22.64%	21.63%	6.77%	-0.69%

Correlation

The correlation between BBLB and PIT is -0.28, 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	-0.29
Correlation (3Y) Calculated over the trailing 3-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Apr 20, 2023	-0.14

The correlation between BBLB and PIT shifts across timeframes, from -0.28 (1 year) to -0.13 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BBLB vs. PIT — Risk / Return Rank

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

BBLB

BBLB Risk / Return Rank: 16
BBLB Sharpe Ratio Rank: 17
BBLB Sortino Ratio Rank: 16
BBLB Omega Ratio Rank: 15
BBLB Calmar Ratio Rank: 17
BBLB Martin Ratio Rank: 16

PIT

PIT Risk / Return Rank: 59
PIT Sharpe Ratio Rank: 62
PIT Sortino Ratio Rank: 55
PIT Omega Ratio Rank: 60
PIT Calmar Ratio Rank: 52
PIT Martin Ratio Rank: 64

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.

BBLB vs. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) and VanEck Commodity Strategy ETF (PIT). 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.

	BBLB	PIT	Difference
Sharpe ratio: Return per unit of total volatility	0.49	1.83	-1.34
Sortino ratio: Return per unit of downside risk	0.77	2.37	-1.60
Omega ratio: Gain probability vs. loss probability	1.09	1.33	-0.24
Calmar ratio: Return relative to maximum drawdown	0.62	2.29	-1.68
Martin ratio: Return relative to average drawdown	1.47	10.32	-8.85

BBLB vs. PIT - Sharpe Ratio Comparison

The current BBLB Sharpe Ratio is 0.49, which is lower than the PIT Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of BBLB and PIT, 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

BBLB vs. PIT - Drawdown Comparison

The maximum BBLB drawdown since its inception was -21.06%, which is greater than PIT's maximum drawdown of -17.20%. Use the drawdown chart below to compare losses from any high point for BBLB and PIT.

Drawdown Indicators

	BBLB	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-21.06%	-17.20%	-3.86%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-17.20%	+9.67%
Max Drawdown (3Y) Largest decline over 3 years	-18.95%	-17.20%	-1.75%
Current Drawdown Current decline from peak	-6.72%	-17.20%	+10.48%
Average Drawdown Average peak-to-trough decline	-8.92%	-4.10%	-4.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	3.81%	-0.66%

Volatility

BBLB vs. PIT - Volatility Comparison

The current volatility for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) is 2.46%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 5.04%. This indicates that BBLB experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBLB	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	5.04%	-2.58%
Volatility (6M) Calculated over the trailing 6-month period	6.78%	19.56%	-12.78%
Volatility (1Y) Calculated over the trailing 1-year period	9.57%	21.68%	-12.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.76%	17.54%	-3.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.76%	17.54%	-3.78%

BBLB vs. PIT - Expense Ratio Comparison

BBLB has a 0.04% expense ratio, which is lower than PIT's 0.55% expense ratio.

Dividends

BBLB vs. PIT - Dividend Comparison

BBLB's dividend yield for the trailing twelve months is around 4.88%, less than PIT's 7.27% yield.

Position	TTM	2025	2024	2023
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF	4.88%	5.03%	5.34%	2.82%
PIT VanEck Commodity Strategy ETF	7.27%	8.92%	3.59%	6.44%

Frequently Asked Questions

Can I hold both BBLB and PIT in my portfolio?

BBLB and PIT have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBLB or PIT?

PIT has higher volatility (5.04%) compared to BBLB (2.46%). In terms of maximum drawdown, BBLB dropped -21.06% vs PIT's -17.20%.

Which ETF is better, BBLB or PIT?

On 3-year performance, PIT leads with 18.03% vs -1.31% for BBLB. On fees, BBLB is cheaper at 0.04% per year. On volatility, BBLB has been the lower-risk option at 2.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBLB or PIT?

Over the 3-year period, PIT has performed better with a 18.03% return vs -1.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBLB or PIT?

BBLB is cheaper with a 0.04% expense ratio, compared with 0.55% for PIT.

Which ETF pays a higher dividend yield, BBLB or PIT?

PIT has the higher dividend yield at 7.27%, compared with 4.88% for BBLB.

What is the main difference between BBLB and PIT?

BBLB is categorized as Government Bonds, while PIT is Commodities. They also come from different issuers: JPMorgan and VanEck. Their fees differ too: 0.04% for BBLB and 0.55% for PIT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.83 vs 0.49), 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.