CERY vs. DJP
CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) and DJP (iPath Bloomberg Commodity Index Total Return ETN) are both Commodities funds - CERY tracks the Bloomberg Enhanced Roll Yield Total Return Index while DJP tracks the Bloomberg Commodity Index. Both are passively managed. Over the past year, CERY returned 44.30% vs 44.52% for DJP. Their correlation of 0.92 suggests significant overlap in exposure. CERY charges 0.28%/yr vs 0.70%/yr for DJP.
Performance
CERY vs. DJP - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with CERY having a 29.88% return and DJP slightly higher at 30.63%.
CERY
- 1D
- 0.06%
- 1M
- -1.63%
- YTD
- 29.88%
- 6M
- 30.50%
- 1Y
- 44.30%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DJP
- 1D
- 0.02%
- 1M
- -3.31%
- YTD
- 30.63%
- 6M
- 29.34%
- 1Y
- 44.52%
- 3Y*
- 17.94%
- 5Y*
- 12.46%
- 10Y*
- 7.36%
CERY vs. DJP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 29.88% | 15.68% | 3.92% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 30.63% | 17.20% | 5.91% |
Correlation
The correlation between CERY and DJP is 0.93, 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 | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024 | 0.92 |
The correlation between CERY and DJP has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
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Return for Risk
CERY vs. DJP — Risk / Return Rank
CERY
DJP
CERY vs. DJP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) and iPath Bloomberg Commodity Index Total Return ETN (DJP). 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.
| CERY | DJP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.42 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 6.38 | 5.20 | +1.18 |
| Martin ratioReturn relative to average drawdown | 20.66 | 13.30 | +7.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CERY | DJP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.90 | 2.36 | +0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.66 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.00 | 0.00 | +2.00 |
Drawdowns
CERY vs. DJP - Drawdown Comparison
The maximum CERY drawdown since its inception was -10.05%, smaller than the maximum DJP drawdown of -78.35%. Use the drawdown chart below to compare losses from any high point for CERY and DJP.
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Drawdown Indicators
| CERY | DJP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.05% | -78.35% | +68.30% |
Max Drawdown (1Y)Largest decline over 1 year | -6.98% | -8.61% | +1.63% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.41% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.36% | — |
Current DrawdownCurrent decline from peak | -3.71% | -32.82% | +29.11% |
Average DrawdownAverage peak-to-trough decline | -2.11% | -50.86% | +48.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 3.36% | -1.21% |
Volatility
CERY vs. DJP - Volatility Comparison
The current volatility for SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) is 4.94%, while iPath Bloomberg Commodity Index Total Return ETN (DJP) has a volatility of 5.85%. This indicates that CERY experiences smaller price fluctuations and is considered to be less risky than DJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CERY | DJP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 5.85% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 13.29% | 16.64% | -3.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.37% | 18.92% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.71% | 18.96% | -4.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.71% | 17.06% | -2.35% |
CERY vs. DJP - Expense Ratio Comparison
CERY has a 0.28% expense ratio, which is lower than DJP's 0.70% expense ratio.
Dividends
CERY vs. DJP - Dividend Comparison
CERY's dividend yield for the trailing twelve months is around 3.85%, while DJP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 3.85% | 4.99% | 0.52% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, CERY and DJP 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.
DJP has higher volatility (5.85%) compared to CERY (4.94%). In terms of maximum drawdown, CERY dropped -10.05% vs DJP's -78.35%.
On 1-year performance, DJP leads with 44.52% vs 44.30% for CERY. On fees, CERY is cheaper at 0.28% per year. On volatility, CERY has been the lower-risk option at 4.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DJP has performed better with a 44.52% return vs 44.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CERY is cheaper with a 0.28% expense ratio, compared with 0.70% for DJP.
CERY has the higher dividend yield at 3.85%, compared with 0.00% for DJP.
CERY tracks Bloomberg Enhanced Roll Yield Total Return Index, while DJP tracks Bloomberg Commodity Index. They also come from different issuers: State Street and Barclays Capital. Their fees differ too: 0.28% for CERY and 0.70% for DJP.
CERY currently has the higher Sharpe Ratio (2.90 vs 2.36), 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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