BCD vs. CERY

Last updated Apr 1, 2026

Compare and contrast key facts about abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) and SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY).

BCD and CERY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BCD is an actively managed fund by Aberdeen. It was launched on Mar 30, 2017. CERY is a passively managed fund by State Street that tracks the performance of the Bloomberg Enhanced Roll Yield Total Return Index. It was launched on Sep 4, 2024.

Performance

BCD vs. CERY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) and SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY). The values are adjusted to include any dividend payments, if applicable.

BCD vs. CERY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF	15.57%	15.71%	4.56%
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	23.43%	15.68%	3.92%

Returns By Period

In the year-to-date period, BCD achieves a 15.57% return, which is significantly lower than CERY's 23.43% return.

BCD

• 1D: -0.67%
• 1M: 4.50%
• YTD: 15.57%
• 6M: 21.94%
• 1Y: 22.76%
• 3Y*: 11.07%
• 5Y*: 13.81%
• 10Y*: —

CERY

• 1D: -0.51%
• 1M: 8.46%
• YTD: 23.43%
• 6M: 29.00%
• 1Y: 33.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BCD vs. CERY - Expense Ratio Comparison

BCD has a 0.29% expense ratio, which is higher than CERY's 0.28% expense ratio.

BCD

abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF

CERY

SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF

Return for Risk

BCD vs. CERY — Risk / Return Rank

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

BCD

BCD Risk / Return Rank: 80
BCD Sharpe Ratio Rank: 82
BCD Sortino Ratio Rank: 80
BCD Omega Ratio Rank: 78
BCD Calmar Ratio Rank: 85
BCD Martin Ratio Rank: 75

CERY

CERY Risk / Return Rank: 91
CERY Sharpe Ratio Rank: 91
CERY Sortino Ratio Rank: 91
CERY Omega Ratio Rank: 89
CERY Calmar Ratio Rank: 93
CERY Martin Ratio Rank: 90

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.

BCD vs. CERY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) 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.

	BCD	CERY	Difference
Sharpe ratio Return per unit of total volatility	1.51	2.05	-0.54
Sortino ratio Return per unit of downside risk	2.02	2.66	-0.64
Omega ratio Gain probability vs. loss probability	1.29	1.37	-0.08
Calmar ratio Return relative to maximum drawdown	2.42	3.44	-1.02
Martin ratio Return relative to average drawdown	7.58	11.83	-4.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCD vs. CERY - Sharpe Ratio Comparison

The current BCD Sharpe Ratio is 1.51, which is comparable to the CERY Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of BCD and CERY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BCD	CERY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	2.05	-0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	1.98	-1.33

Correlation

The correlation between BCD and CERY is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BCD vs. CERY - Dividend Comparison

BCD's dividend yield for the trailing twelve months is around 14.89%, more than CERY's 4.05% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF	14.89%	17.21%	3.60%	4.51%	5.21%	8.30%	1.29%	1.55%	1.59%	0.07%
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	4.05%	4.99%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

BCD vs. CERY - Drawdown Comparison

The maximum BCD drawdown since its inception was -29.81%, which is greater than CERY's maximum drawdown of -10.05%. Use the drawdown chart below to compare losses from any high point for BCD and CERY.

Drawdown Indicators

	BCD	CERY	Difference
Max Drawdown Largest peak-to-trough decline	-29.81%	-10.05%	-19.76%
Max Drawdown (1Y) Largest decline over 1 year	-9.75%	-10.05%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	-23.03%	—	—
Current Drawdown Current decline from peak	-2.53%	-0.65%	-1.88%
Average Drawdown Average peak-to-trough decline	-10.01%	-2.18%	-7.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	2.92%	+0.19%

Volatility

BCD vs. CERY - Volatility Comparison

The current volatility for abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) is 5.53%, while SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) has a volatility of 6.57%. This indicates that BCD 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

	BCD	CERY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	6.57%	-1.04%
Volatility (6M) Calculated over the trailing 6-month period	11.60%	12.74%	-1.14%
Volatility (1Y) Calculated over the trailing 1-year period	15.15%	16.40%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	14.63%	+0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.93%	14.63%	-0.70%