CERY vs. SHAG
CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) and SHAG (WisdomTree Yield Enhanced U.S. Short-Term Aggregate Bond ETF) are both exchange-traded funds - CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index, while SHAG is a Short-Term Bond fund tracking the Bloomberg U.S. Short Aggregate Enhanced Yield Index. Both are passively managed. Over the past year, CERY returned 38.05% vs 2.71% for SHAG. Their -0.16 correlation means they have often moved in opposite directions in the past. CERY charges 0.28%/yr vs 0.12%/yr for SHAG.
Performance
CERY vs. SHAG - Performance Comparison
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Returns By Period
In the year-to-date period, CERY achieves a 25.95% return, which is significantly higher than SHAG's 0.60% return.
CERY
- 1D
- -0.22%
- 1M
- 7.79%
- 6M
- 15.18%
- YTD
- 25.95%
- 1Y
- 38.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 24.32%
SHAG
- 1D
- -0.04%
- 1M
- -0.16%
- 6M
- 0.22%
- YTD
- 0.60%
- 1Y
- 2.71%
- 3Y*
- 4.76%
- 5Y*
- 1.55%
- 10Y*
- —
- ALL TIME*
- 2.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.02M | $9.94M | $6.85M | |
| $1.23M | $622.18K | $325.38K |
CERY vs. SHAG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 25.95% | 15.68% | 3.80% |
SHAG WisdomTree Yield Enhanced U.S. Short-Term Aggregate Bond ETF | 0.60% | 6.27% | 0.21% |
Correlation
The correlation between CERY and SHAG is -0.28, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.28 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | -0.16 |
The correlation between CERY and SHAG shifts across timeframes, from -0.28 (1 year) to -0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CERY vs. SHAG — Risk / Return Rank
CERY
SHAG
CERY vs. SHAG - 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 WisdomTree Yield Enhanced U.S. Short-Term Aggregate Bond ETF (SHAG). 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.
| CERY | SHAG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.34 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 2.42 | +0.19 |
| Martin ratioReturn relative to average drawdown | 8.97 | 7.93 | +1.04 |
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Drawdowns
CERY vs. SHAG - Drawdown Comparison
The maximum CERY drawdown since its inception was -14.33%, which is greater than SHAG's maximum drawdown of -9.62%. Use the drawdown chart below to compare losses from any high point for CERY and SHAG.
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Drawdown Indicators
| CERY | SHAG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.33% | -9.62% | -4.71% |
Max Drawdown (1Y)Largest decline over 1 year | -14.33% | -1.38% | -12.95% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.38% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.58% | — |
Current DrawdownCurrent decline from peak | -6.62% | -0.42% | -6.20% |
Average DrawdownAverage peak-to-trough decline | -2.69% | -1.85% | -0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 0.42% | +3.73% |
Volatility
CERY vs. SHAG - Volatility Comparison
SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) has a higher volatility of 5.02% compared to WisdomTree Yield Enhanced U.S. Short-Term Aggregate Bond ETF (SHAG) at 0.52%. This indicates that CERY's price experiences larger fluctuations and is considered to be riskier than SHAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CERY | SHAG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.02% | 0.52% | +4.50% |
Volatility (6M)Calculated over the trailing 6-month period | 13.85% | 1.48% | +12.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.20% | 1.86% | +14.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.94% | 2.76% | +12.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.94% | 2.57% | +12.37% |
CERY vs. SHAG - Expense Ratio Comparison
CERY has a 0.28% expense ratio, which is higher than SHAG's 0.12% expense ratio.
Dividends
CERY vs. SHAG - Dividend Comparison
CERY's dividend yield for the trailing twelve months is around 3.97%, less than SHAG's 4.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 3.97% | 4.99% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHAG WisdomTree Yield Enhanced U.S. Short-Term Aggregate Bond ETF | 4.26% | 4.33% | 4.49% | 3.04% | 1.38% | 0.92% | 2.33% | 2.71% | 2.56% | 0.77% |
Frequently Asked Questions
CERY and SHAG have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CERY has higher volatility (5.02%) compared to SHAG (0.52%). In terms of maximum drawdown, CERY dropped -14.33% vs SHAG's -9.62%.
On 1-year performance, CERY leads with 38.05% vs 2.71% for SHAG. On fees, SHAG is cheaper at 0.12% per year. On volatility, SHAG has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CERY has performed better with a 38.05% return vs 2.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHAG is cheaper with a 0.12% expense ratio, compared with 0.28% for CERY.
SHAG has the higher dividend yield at 4.26%, compared with 3.97% for CERY.
CERY is categorized as Commodities, while SHAG is Short-Term Bond. CERY tracks Bloomberg Enhanced Roll Yield Total Return Index, while SHAG tracks Bloomberg U.S. Short Aggregate Enhanced Yield Index. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.28% for CERY and 0.12% for SHAG.
CERY currently has the higher Sharpe Ratio (2.30 vs 1.79), 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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