CERY vs. USCI
CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) and USCI (United States Commodity Index Fund) are both Commodities funds - CERY tracks the Bloomberg Enhanced Roll Yield Total Return Index while USCI tracks the SummerHaven Dynamic Commodity Index Total Return. Both are passively managed. Over the past year, CERY returned 38.05% vs 38.23% for USCI. Their correlation of 0.87 means they have usually moved in the same direction. CERY charges 0.28%/yr vs 1.03%/yr for USCI.
Performance
CERY vs. USCI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CERY achieves a 25.95% return, which is significantly lower than USCI's 30.16% return.
CERY
- 1D
- -0.22%
- 1M
- 7.79%
- 6M
- 15.18%
- YTD
- 25.95%
- 1Y
- 38.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 24.32%
USCI
- 1D
- 0.05%
- 1M
- 9.65%
- 6M
- 19.52%
- YTD
- 30.16%
- 1Y
- 38.23%
- 3Y*
- 19.78%
- 5Y*
- 19.95%
- 10Y*
- 9.20%
- ALL TIME*
- 4.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.02M | $9.94M | $6.85M | |
| $1.01M | $1.13M | $1.88M |
CERY vs. USCI - 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% |
USCI United States Commodity Index Fund | 30.16% | 17.63% | 11.29% |
Correlation
The correlation between CERY and USCI is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | 0.87 |
The correlation between CERY and USCI has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CERY vs. USCI — Risk / Return Rank
CERY
USCI
CERY vs. USCI - 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 United States Commodity Index Fund (USCI). 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 | USCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.36 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 3.22 | -0.62 |
| Martin ratioReturn relative to average drawdown | 8.97 | 10.29 | -1.32 |
Loading charts...
Drawdowns
CERY vs. USCI - Drawdown Comparison
The maximum CERY drawdown since its inception was -14.33%, smaller than the maximum USCI drawdown of -66.41%. Use the drawdown chart below to compare losses from any high point for CERY and USCI.
Loading charts...
Drawdown Indicators
| CERY | USCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.33% | -66.41% | +52.08% |
Max Drawdown (1Y)Largest decline over 1 year | -14.33% | -11.19% | -3.14% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.01% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.84% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.82% | — |
Current DrawdownCurrent decline from peak | -6.62% | -1.85% | -4.77% |
Average DrawdownAverage peak-to-trough decline | -2.69% | -29.27% | +26.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 3.50% | +0.65% |
Volatility
CERY vs. USCI - Volatility Comparison
The current volatility for SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) is 5.02%, while United States Commodity Index Fund (USCI) has a volatility of 5.30%. This indicates that CERY experiences smaller price fluctuations and is considered to be less risky than USCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CERY | USCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.02% | 5.30% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 13.85% | 14.27% | -0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.20% | 17.21% | -1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.94% | 18.42% | -3.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.94% | 15.91% | -0.97% |
CERY vs. USCI - Expense Ratio Comparison
CERY has a 0.28% expense ratio, which is lower than USCI's 1.03% expense ratio.
Dividends
CERY vs. USCI - Dividend Comparison
CERY's dividend yield for the trailing twelve months is around 3.97%, while USCI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 3.97% | 4.99% | 0.52% |
USCI United States Commodity Index Fund | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CERY and USCI have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USCI has higher volatility (5.30%) compared to CERY (5.02%). In terms of maximum drawdown, CERY dropped -14.33% vs USCI's -66.41%.
On 1-year performance, USCI leads with 38.23% vs 38.05% for CERY. On fees, CERY is cheaper at 0.28% per year. On volatility, CERY has been the lower-risk option at 5.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USCI has performed better with a 38.23% return vs 38.05%. 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 1.03% for USCI.
CERY has the higher dividend yield at 3.97%, compared with 0.00% for USCI.
CERY tracks Bloomberg Enhanced Roll Yield Total Return Index, while USCI tracks SummerHaven Dynamic Commodity Index Total Return. They also come from different issuers: State Street and USCF. Their fees differ too: 0.28% for CERY and 1.03% for USCI.
CERY currently has the higher Sharpe Ratio (2.30 vs 2.10), 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.
Find the right allocation for CERY and USCI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer