BSCV vs. CERY

Last updated Jun 24, 2026

BSCV (Invesco BulletShares 2031 Corporate Bond ETF) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both exchange-traded funds - BSCV is a Corporate Bonds fund tracking the Invesco BulletShares Corporate Bond 2031 Index, while CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index. Both are passively managed. Over the past year, BSCV returned 4.32% vs 27.40% for CERY. At a correlation of -0.11, they often move in opposite directions. BSCV charges 0.10%/yr vs 0.28%/yr for CERY.

Performance

BSCV vs. CERY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2031 Corporate Bond ETF (BSCV) and SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSCV achieves a 0.12% return, which is significantly lower than CERY's 18.11% return.

BSCV

• 1D: 0.09%
• 1M: 0.39%
• YTD: 0.12%
• 6M: 0.33%
• 1Y: 4.32%
• 3Y*: 5.73%
• 5Y*: —
• 10Y*: —

CERY

• 1D: -1.20%
• 1M: -9.49%
• YTD: 18.11%
• 6M: 16.37%
• 1Y: 27.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BSCV vs. CERY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BSCV Invesco BulletShares 2031 Corporate Bond ETF	0.12%	9.04%	-1.78%
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	18.11%	15.68%	3.80%

Correlation

The correlation between BSCV and CERY is -0.22, 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	-0.22
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	-0.11

The correlation between BSCV and CERY shifts across timeframes, from -0.22 (1 year) to -0.11 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BSCV vs. CERY — Risk / Return Rank

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

BSCV

BSCV Risk / Return Rank: 38
BSCV Sharpe Ratio Rank: 38
BSCV Sortino Ratio Rank: 39
BSCV Omega Ratio Rank: 36
BSCV Calmar Ratio Rank: 37
BSCV Martin Ratio Rank: 37

CERY

CERY Risk / Return Rank: 53
CERY Sharpe Ratio Rank: 56
CERY Sortino Ratio Rank: 52
CERY Omega Ratio Rank: 52
CERY Calmar Ratio Rank: 47
CERY Martin Ratio Rank: 60

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.

BSCV vs. CERY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2031 Corporate Bond ETF (BSCV) 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.

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.

	BSCV	CERY	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.78	-0.50
Sortino ratio: Return per unit of downside risk	1.93	2.38	-0.45
Omega ratio: Gain probability vs. loss probability	1.23	1.31	-0.08
Calmar ratio: Return relative to maximum drawdown	1.76	2.21	-0.46
Martin ratio: Return relative to average drawdown	5.47	10.02	-4.54

BSCV vs. CERY - Sharpe Ratio Comparison

The current BSCV Sharpe Ratio is 1.27, which is comparable to the CERY Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of BSCV and CERY, 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

BSCV vs. CERY - Drawdown Comparison

The maximum BSCV drawdown since its inception was -23.28%, which is greater than CERY's maximum drawdown of -12.44%. Use the drawdown chart below to compare losses from any high point for BSCV and CERY.

Drawdown Indicators

	BSCV	CERY	Difference
Max Drawdown Largest peak-to-trough decline	-23.28%	-12.44%	-10.84%
Max Drawdown (1Y) Largest decline over 1 year	-2.47%	-12.44%	+9.97%
Max Drawdown (3Y) Largest decline over 3 years	-6.75%	—	—
Current Drawdown Current decline from peak	-1.19%	-12.44%	+11.25%
Average Drawdown Average peak-to-trough decline	-9.46%	-2.29%	-7.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	2.76%	-1.97%

Volatility

BSCV vs. CERY - Volatility Comparison

The current volatility for Invesco BulletShares 2031 Corporate Bond ETF (BSCV) is 1.09%, while SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) has a volatility of 3.64%. This indicates that BSCV 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

	BSCV	CERY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	3.64%	-2.55%
Volatility (6M) Calculated over the trailing 6-month period	2.54%	13.63%	-11.09%
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	15.66%	-12.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.33%	14.74%	-7.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.33%	14.74%	-7.41%

BSCV vs. CERY - Expense Ratio Comparison

BSCV has a 0.10% expense ratio, which is lower than CERY's 0.28% expense ratio.

Dividends

BSCV vs. CERY - Dividend Comparison

BSCV's dividend yield for the trailing twelve months is around 4.69%, more than CERY's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021
BSCV Invesco BulletShares 2031 Corporate Bond ETF	4.69%	4.65%	4.87%	4.47%	3.43%	0.57%
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	4.23%	4.99%	0.52%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSCV and CERY in my portfolio?

BSCV and CERY have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSCV or CERY?

CERY has higher volatility (3.64%) compared to BSCV (1.09%). In terms of maximum drawdown, BSCV dropped -23.28% vs CERY's -12.44%.

Which ETF is better, BSCV or CERY?

On 1-year performance, CERY leads with 27.40% vs 4.32% for BSCV. On fees, BSCV is cheaper at 0.10% per year. On volatility, BSCV has been the lower-risk option at 1.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSCV or CERY?

Over the 1-year period, CERY has performed better with a 27.40% return vs 4.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSCV or CERY?

BSCV is cheaper with a 0.10% expense ratio, compared with 0.28% for CERY.

Which ETF pays a higher dividend yield, BSCV or CERY?

BSCV has the higher dividend yield at 4.69%, compared with 4.23% for CERY.

What is the main difference between BSCV and CERY?

BSCV is categorized as Corporate Bonds, while CERY is Commodities. BSCV tracks Invesco BulletShares Corporate Bond 2031 Index, while CERY tracks Bloomberg Enhanced Roll Yield Total Return Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.10% for BSCV and 0.28% for CERY.

Which has better risk-adjusted returns?

CERY currently has the higher Sharpe Ratio (1.78 vs 1.27), 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.