BCSKX vs. VCMDX

Last updated Jun 24, 2026

BCSKX (BlackRock Commodity Strategies Fund Class K) and VCMDX (Vanguard Commodity Strategy Fund Admiral Shares) are both Commodities funds. Over the past 5 years, BCSKX returned 11.08%/yr vs 10.60%/yr for VCMDX. Their correlation of 0.83 suggests significant overlap in exposure. BCSKX charges 0.67%/yr vs 0.20%/yr for VCMDX.

Performance

BCSKX vs. VCMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Commodity Strategies Fund Class K (BCSKX) and Vanguard Commodity Strategy Fund Admiral Shares (VCMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCSKX achieves a 12.64% return, which is significantly lower than VCMDX's 13.42% return.

BCSKX

• 1D: -0.17%
• 1M: -6.71%
• YTD: 12.64%
• 6M: 11.14%
• 1Y: 28.34%
• 3Y*: 15.47%
• 5Y*: 11.08%
• 10Y*: —

VCMDX

• 1D: -0.77%
• 1M: -7.67%
• YTD: 13.42%
• 6M: 12.34%
• 1Y: 21.32%
• 3Y*: 12.04%
• 5Y*: 10.60%
• 10Y*: —

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

BCSKX vs. VCMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BCSKX BlackRock Commodity Strategies Fund Class K	12.64%	28.88%	4.44%	-4.27%	11.95%	22.49%	6.84%	2.75%
VCMDX Vanguard Commodity Strategy Fund Admiral Shares	13.42%	18.20%	5.27%	-7.45%	13.83%	34.82%	5.07%	2.74%

Correlation

The correlation between BCSKX and VCMDX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jun 26, 2019	0.83

The correlation between BCSKX and VCMDX has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.

Return for Risk

BCSKX vs. VCMDX — Risk / Return Rank

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

BCSKX

BCSKX Risk / Return Rank: 53
BCSKX Sharpe Ratio Rank: 47
BCSKX Sortino Ratio Rank: 39
BCSKX Omega Ratio Rank: 41
BCSKX Calmar Ratio Rank: 70
BCSKX Martin Ratio Rank: 69

VCMDX

VCMDX Risk / Return Rank: 27
VCMDX Sharpe Ratio Rank: 25
VCMDX Sortino Ratio Rank: 21
VCMDX Omega Ratio Rank: 24
VCMDX Calmar Ratio Rank: 28
VCMDX Martin Ratio Rank: 34

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.

BCSKX vs. VCMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Commodity Strategies Fund Class K (BCSKX) and Vanguard Commodity Strategy Fund Admiral Shares (VCMDX). 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.

	BCSKX	VCMDX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.33	+0.53
Sortino ratio: Return per unit of downside risk	2.42	1.80	+0.63
Omega ratio: Gain probability vs. loss probability	1.32	1.24	+0.08
Calmar ratio: Return relative to maximum drawdown	3.07	1.84	+1.22
Martin ratio: Return relative to average drawdown	12.40	7.27	+5.14

BCSKX vs. VCMDX - Sharpe Ratio Comparison

The current BCSKX Sharpe Ratio is 1.86, which is higher than the VCMDX Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of BCSKX and VCMDX, 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

BCSKX vs. VCMDX - Drawdown Comparison

The maximum BCSKX drawdown since its inception was -30.34%, which is greater than VCMDX's maximum drawdown of -26.67%. Use the drawdown chart below to compare losses from any high point for BCSKX and VCMDX.

Drawdown Indicators

	BCSKX	VCMDX	Difference
Max Drawdown Largest peak-to-trough decline	-30.34%	-26.67%	-3.67%
Max Drawdown (1Y) Largest decline over 1 year	-8.97%	-10.85%	+1.88%
Max Drawdown (3Y) Largest decline over 3 years	-10.51%	-10.85%	+0.34%
Max Drawdown (5Y) Largest decline over 5 years	-22.34%	-25.45%	+3.11%
Current Drawdown Current decline from peak	-8.97%	-10.85%	+1.88%
Average Drawdown Average peak-to-trough decline	-6.56%	-10.83%	+4.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	2.89%	-0.66%

Volatility

BCSKX vs. VCMDX - Volatility Comparison

BlackRock Commodity Strategies Fund Class K (BCSKX) has a higher volatility of 3.86% compared to Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) at 3.51%. This indicates that BCSKX's price experiences larger fluctuations and is considered to be riskier than VCMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCSKX	VCMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	3.51%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	12.13%	12.85%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	14.84%	15.06%	-0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.75%	15.84%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.04%	15.37%	-0.33%

BCSKX vs. VCMDX - Expense Ratio Comparison

BCSKX has a 0.67% expense ratio, which is higher than VCMDX's 0.20% expense ratio.

Dividends

BCSKX vs. VCMDX - Dividend Comparison

BCSKX's dividend yield for the trailing twelve months is around 2.78%, less than VCMDX's 13.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BCSKX BlackRock Commodity Strategies Fund Class K	2.78%	3.13%	3.66%	9.45%	9.11%	2.72%	0.84%	2.08%	2.02%
VCMDX Vanguard Commodity Strategy Fund Admiral Shares	13.41%	15.21%	2.19%	2.50%	14.21%	30.56%	0.50%	0.60%	0.00%

Frequently Asked Questions

Can I hold both BCSKX and VCMDX in my portfolio?

BCSKX and VCMDX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCSKX or VCMDX?

BCSKX has higher volatility (3.86%) compared to VCMDX (3.51%). In terms of maximum drawdown, BCSKX dropped -30.34% vs VCMDX's -26.67%.

Which has better risk-adjusted returns?

BCSKX currently has the higher Sharpe Ratio (1.86 vs 1.33), 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.