BCI vs. CMDY
BCI (abrdn Bloomberg All Commodity Strategy K-1 Free ETF) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both Commodities funds - BCI tracks the Bloomberg Commodity Index Total Return while CMDY tracks the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 5 years, BCI returned 9.52%/yr vs 9.18%/yr for CMDY. Their correlation of 0.91 suggests significant overlap in exposure. BCI charges 0.26%/yr vs 0.28%/yr for CMDY.
Performance
BCI vs. CMDY - Performance Comparison
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Returns By Period
In the year-to-date period, BCI achieves a 15.26% return, which is significantly higher than CMDY's 14.22% return.
BCI
- 1D
- -1.23%
- 1M
- -9.78%
- YTD
- 15.26%
- 6M
- 13.54%
- 1Y
- 23.04%
- 3Y*
- 11.40%
- 5Y*
- 9.52%
- 10Y*
- —
CMDY
- 1D
- -1.43%
- 1M
- -9.33%
- YTD
- 14.22%
- 6M
- 12.70%
- 1Y
- 21.95%
- 3Y*
- 11.39%
- 5Y*
- 9.18%
- 10Y*
- —
BCI vs. CMDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 15.26% | 15.07% | 5.47% | -8.79% | 15.09% | 26.18% | -2.77% | 7.06% | -9.98% |
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 BCI and CMDY is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018 | 0.91 |
The correlation between BCI and CMDY has been stable across timeframes, ranging from 0.91 to 0.98 - a consistent structural relationship.
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Return for Risk
BCI vs. CMDY — Risk / Return Rank
BCI
CMDY
BCI vs. CMDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) 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.
| BCI | CMDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.75 | +0.01 |
| Martin ratioReturn relative to average drawdown | 6.95 | 7.16 | -0.21 |
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Drawdowns
BCI vs. CMDY - Drawdown Comparison
The maximum BCI drawdown since its inception was -32.69%, roughly equal to the maximum CMDY drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for BCI and CMDY.
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Drawdown Indicators
| BCI | CMDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.69% | -31.19% | -1.50% |
Max Drawdown (1Y)Largest decline over 1 year | -13.12% | -12.56% | -0.56% |
Max Drawdown (3Y)Largest decline over 3 years | -13.12% | -12.56% | -0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -26.50% | -26.56% | +0.06% |
Current DrawdownCurrent decline from peak | -13.12% | -12.56% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -11.99% | -13.11% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.34% | 3.09% | +0.25% |
Volatility
BCI vs. CMDY - Volatility Comparison
abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) and iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) have volatilities of 3.55% and 3.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCI | CMDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.55% | 3.63% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 14.98% | 14.45% | +0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.20% | 16.35% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.79% | 15.77% | +1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.65% | 14.63% | +1.02% |
BCI vs. CMDY - Expense Ratio Comparison
BCI has a 0.26% expense ratio, which is lower than CMDY's 0.28% expense ratio.
Dividends
BCI vs. CMDY - Dividend Comparison
BCI's dividend yield for the trailing twelve months is around 14.30%, more than CMDY's 11.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 14.30% | 16.49% | 3.29% | 3.93% | 19.98% | 19.43% | 0.68% | 1.47% | 1.13% | 5.02% |
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 0.98, BCI 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 BCI (3.55%). In terms of maximum drawdown, BCI dropped -32.69% vs CMDY's -31.19%.
On 5-year performance, BCI leads with 9.52% vs 9.18% for CMDY. On fees, BCI is cheaper at 0.26% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BCI has performed better with a 9.52% return vs 9.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BCI is cheaper with a 0.26% expense ratio, compared with 0.28% for CMDY.
BCI has the higher dividend yield at 14.30%, compared with 11.29% for CMDY.
BCI tracks Bloomberg Commodity Index Total Return, while CMDY tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: Aberdeen and iShares. Their fees differ too: 0.26% for BCI and 0.28% for CMDY.
CMDY currently has the higher Sharpe Ratio (1.36 vs 1.36), 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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