BCD vs. CMDY
BCD (abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both Commodities funds. BCD is actively managed, while CMDY is passively managed. Over the past 5 years, BCD returned 10.63%/yr vs 9.18%/yr for CMDY. Their correlation of 0.91 suggests significant overlap in exposure. BCD charges 0.29%/yr vs 0.28%/yr for CMDY.
Performance
BCD vs. CMDY - Performance Comparison
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Returns By Period
In the year-to-date period, BCD achieves a 11.14% return, which is significantly lower than CMDY's 14.22% return.
BCD
- 1D
- -1.38%
- 1M
- -7.90%
- YTD
- 11.14%
- 6M
- 9.67%
- 1Y
- 18.61%
- 3Y*
- 10.61%
- 5Y*
- 10.63%
- 10Y*
- —
CMDY
- 1D
- -1.43%
- 1M
- -9.33%
- YTD
- 14.22%
- 6M
- 12.70%
- 1Y
- 21.95%
- 3Y*
- 11.39%
- 5Y*
- 9.18%
- 10Y*
- —
BCD vs. CMDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 11.14% | 15.71% | 6.20% | -7.58% | 18.38% | 31.87% | 4.76% | 7.34% | -9.59% |
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 14.22% | 15.81% | 5.43% | -9.33% | 14.55% | 26.38% | 1.15% | 4.96% | -11.13% |
Correlation
The correlation between BCD and CMDY is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018 | 0.91 |
The correlation between BCD and CMDY has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.
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Return for Risk
BCD vs. CMDY — Risk / Return Rank
BCD
CMDY
BCD vs. CMDY - 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 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.
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.
| BCD | CMDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 1.75 | -0.06 |
| Martin ratioReturn relative to average drawdown | 6.74 | 7.16 | -0.42 |
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Drawdowns
BCD vs. CMDY - Drawdown Comparison
The maximum BCD drawdown since its inception was -29.81%, roughly equal to the maximum CMDY drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for BCD and CMDY.
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Drawdown Indicators
| BCD | CMDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.81% | -31.19% | +1.38% |
Max Drawdown (1Y)Largest decline over 1 year | -11.04% | -12.56% | +1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -11.04% | -12.56% | +1.52% |
Max Drawdown (5Y)Largest decline over 5 years | -23.03% | -26.56% | +3.53% |
Current DrawdownCurrent decline from peak | -11.04% | -12.56% | +1.52% |
Average DrawdownAverage peak-to-trough decline | -9.84% | -13.11% | +3.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.80% | 3.09% | -0.29% |
Volatility
BCD vs. CMDY - Volatility Comparison
The current volatility for abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) is 3.34%, while iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) has a volatility of 3.63%. This indicates that BCD 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.
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Volatility by Period
| BCD | CMDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 3.63% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 12.01% | 14.45% | -2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.99% | 16.35% | -2.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.38% | 15.77% | -0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.90% | 14.63% | -0.73% |
BCD vs. CMDY - Expense Ratio Comparison
BCD has a 0.29% expense ratio, which is higher than CMDY's 0.28% expense ratio.
Dividends
BCD vs. CMDY - Dividend Comparison
BCD's dividend yield for the trailing twelve months is around 15.49%, more than CMDY's 11.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 15.49% | 17.21% | 3.60% | 4.51% | 5.21% | 8.30% | 1.29% | 1.55% | 1.59% | 0.07% |
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 11.29% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, BCD and CMDY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
CMDY has higher volatility (3.63%) compared to BCD (3.34%). In terms of maximum drawdown, BCD dropped -29.81% vs CMDY's -31.19%.
On 5-year performance, BCD leads with 10.63% vs 9.18% for CMDY. On fees, CMDY is cheaper at 0.28% per year. On volatility, BCD has been the lower-risk option at 3.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BCD has performed better with a 10.63% return vs 9.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CMDY is cheaper with a 0.28% expense ratio, compared with 0.29% for BCD.
BCD has the higher dividend yield at 15.49%, compared with 11.29% for CMDY.
They also come from different issuers: Aberdeen and iShares. Their fees differ too: 0.29% for BCD and 0.28% for CMDY.
CMDY currently has the higher Sharpe Ratio (1.36 vs 1.34), 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.
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