CCRV vs. CMDY

Last updated Jun 23, 2026

CCRV (iShares Commodity Curve Carry Strategy ETF) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both Commodities funds from iShares - CCRV tracks the CCRV-US - ICE BofA Commodity Enhanced Carry Index while CMDY tracks the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. A 0.71 correlation means they provide meaningful diversification when combined. CCRV charges 0.40%/yr vs 0.28%/yr for CMDY.

Performance

CCRV vs. CMDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Commodity Curve Carry Strategy ETF (CCRV) and iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CCRV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CMDY

• 1D: -0.65%
• 1M: -8.01%
• YTD: 15.88%
• 6M: 15.95%
• 1Y: 21.57%
• 3Y*: 11.93%
• 5Y*: 9.37%
• 10Y*: —

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

CCRV vs. CMDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	5.47%	19.91%	33.78%	7.16%
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	15.88%	15.81%	5.43%	-9.33%	14.55%	26.38%	6.76%

Correlation

The correlation between CCRV and CMDY is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Sep 3, 2020	0.71

Over the past year, the correlation between CCRV and CMDY has dropped to 0.09 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

Return for Risk

CCRV vs. CMDY — Risk / Return Rank

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

CCRV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CMDY

CMDY Risk / Return Rank: 39
CMDY Sharpe Ratio Rank: 38
CMDY Sortino Ratio Rank: 35
CMDY Omega Ratio Rank: 38
CMDY Calmar Ratio Rank: 39
CMDY Martin Ratio Rank: 45

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.

CCRV vs. CMDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Commodity Curve Carry Strategy ETF (CCRV) 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.

	CCRV	CMDY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.33	—
Sortino ratio: Return per unit of downside risk	—	1.79	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	1.92	—
Martin ratio: Return relative to average drawdown	—	7.24	—

Drawdowns

Drawdown Indicators

	CCRV	CMDY	Difference
Max Drawdown Largest peak-to-trough decline	—	-31.19%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-11.29%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-11.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.56%	—
Current Drawdown Current decline from peak	—	-11.29%	—
Average Drawdown Average peak-to-trough decline	—	-13.11%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.21%	—

Volatility

Volatility by Period

	CCRV	CMDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.50%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	16.32%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	15.76%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	14.63%	—

CCRV vs. CMDY - Expense Ratio Comparison

CCRV has a 0.40% expense ratio, which is higher than CMDY's 0.28% expense ratio.

Dividends

CCRV vs. CMDY - Dividend Comparison

CCRV has not paid dividends to shareholders, while CMDY's dividend yield for the trailing twelve months is around 11.13%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%	0.00%	0.00%	0.00%
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	11.13%	12.89%	4.23%	5.10%	3.98%	16.09%	0.15%	2.21%	1.73%

Frequently Asked Questions

Can I hold both CCRV and CMDY in my portfolio?

CCRV and CMDY have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CCRV or CMDY?

On fees, CMDY is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CCRV or CMDY?

CMDY is cheaper with a 0.28% expense ratio, compared with 0.40% for CCRV.

Which ETF pays a higher dividend yield, CCRV or CMDY?

CMDY has the higher dividend yield at 11.13%, compared with 0.00% for CCRV.

What is the main difference between CCRV and CMDY?

CCRV tracks CCRV-US - ICE BofA Commodity Enhanced Carry Index, while CMDY tracks Bloomberg Roll Select Commodity Total Return Index. Their fees differ too: 0.40% for CCRV and 0.28% for CMDY.