CERY vs. WEAT

Last updated Jul 12, 2026

CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) and WEAT (Teucrium Wheat Fund) are both exchange-traded funds - CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index, while WEAT is a Agricultural Commodities fund tracking the Teucrium Wheat Index (TWEAT). Both are passively managed. Over the past year, CERY returned 29.64% vs 5.42% for WEAT. At a 0.36 correlation, their price movements are largely independent. CERY charges 0.28%/yr vs 1.91%/yr for WEAT.

Performance

CERY vs. WEAT - Performance Comparison

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

Returns By Period

In the year-to-date period, CERY achieves a 20.77% return, which is significantly higher than WEAT's 18.78% return.

CERY

• 1D: 0.00%
• 1M: -2.91%
• 6M: 16.72%
• YTD: 20.77%
• 1Y: 29.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

WEAT

• 1D: 2.91%
• 1M: 5.75%
• 6M: 16.62%
• YTD: 18.78%
• 1Y: 5.42%
• 3Y*: -10.15%
• 5Y*: -5.12%
• 10Y*: -5.23%

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

CERY vs. WEAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	20.77%	15.68%	3.80%
WEAT Teucrium Wheat Fund	18.78%	-17.14%	-7.49%

Correlation

The correlation between CERY and WEAT is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.36

Return for Risk

CERY vs. WEAT — Risk / Return Rank

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

CERY

CERY Risk / Return Rank: 67
CERY Sharpe Ratio Rank: 78
CERY Sortino Ratio Rank: 73
CERY Omega Ratio Rank: 73
CERY Calmar Ratio Rank: 54
CERY Martin Ratio Rank: 57

WEAT

WEAT Risk / Return Rank: 12
WEAT Sharpe Ratio Rank: 12
WEAT Sortino Ratio Rank: 12
WEAT Omega Ratio Rank: 12
WEAT Calmar Ratio Rank: 13
WEAT Martin Ratio Rank: 12

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.

CERY vs. WEAT - 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 Teucrium Wheat Fund (WEAT). 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	WEAT	Difference
Sharpe ratio: Return per unit of total volatility	1.96	0.16	+1.80
Sortino ratio: Return per unit of downside risk	2.61	0.43	+2.18
Omega ratio: Gain probability vs. loss probability	1.34	1.05	+0.29
Calmar ratio: Return relative to maximum drawdown	2.15	0.25	+1.91
Martin ratio: Return relative to average drawdown	7.97	0.48	+7.49

CERY vs. WEAT - Sharpe Ratio Comparison

The current CERY Sharpe Ratio is 1.96, which is higher than the WEAT Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of CERY and WEAT, 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

CERY vs. WEAT - Drawdown Comparison

The maximum CERY drawdown since its inception was -14.33%, smaller than the maximum WEAT drawdown of -84.32%. Use the drawdown chart below to compare losses from any high point for CERY and WEAT.

Drawdown Indicators

	CERY	WEAT	Difference
Max Drawdown Largest peak-to-trough decline	-14.33%	-84.32%	+69.99%
Max Drawdown (1Y) Largest decline over 1 year	-14.33%	-14.44%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-46.27%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-67.83%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-67.83%	—
Current Drawdown Current decline from peak	-10.46%	-81.29%	+70.83%
Average Drawdown Average peak-to-trough decline	-2.56%	-63.23%	+60.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	8.21%	-4.35%

Volatility

CERY vs. WEAT - Volatility Comparison

The current volatility for SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) is 4.37%, while Teucrium Wheat Fund (WEAT) has a volatility of 6.35%. This indicates that CERY experiences smaller price fluctuations and is considered to be less risky than WEAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CERY	WEAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	6.35%	-1.98%
Volatility (6M) Calculated over the trailing 6-month period	13.59%	18.74%	-5.15%
Volatility (1Y) Calculated over the trailing 1-year period	15.73%	21.95%	-6.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.81%	30.33%	-15.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.81%	26.77%	-11.96%

CERY vs. WEAT - Expense Ratio Comparison

CERY has a 0.28% expense ratio, which is lower than WEAT's 1.91% expense ratio.

Dividends

CERY vs. WEAT - Dividend Comparison

CERY's dividend yield for the trailing twelve months is around 4.14%, while WEAT has not paid dividends to shareholders.

Position	TTM	2025	2024
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	4.14%	4.99%	0.52%
WEAT Teucrium Wheat Fund	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CERY and WEAT in my portfolio?

CERY and WEAT have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CERY or WEAT?

WEAT has higher volatility (6.35%) compared to CERY (4.37%). In terms of maximum drawdown, CERY dropped -14.33% vs WEAT's -84.32%.

Which ETF is better, CERY or WEAT?

On 1-year performance, CERY leads with 29.64% vs 5.42% for WEAT. On fees, CERY is cheaper at 0.28% per year. On volatility, CERY has been the lower-risk option at 4.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CERY or WEAT?

Over the 1-year period, CERY has performed better with a 29.64% return vs 5.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CERY or WEAT?

CERY is cheaper with a 0.28% expense ratio, compared with 1.91% for WEAT.

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

CERY has the higher dividend yield at 4.14%, compared with 0.00% for WEAT.

What is the main difference between CERY and WEAT?

CERY is categorized as Commodities, while WEAT is Agricultural Commodities. CERY tracks Bloomberg Enhanced Roll Yield Total Return Index, while WEAT tracks Teucrium Wheat Index (TWEAT). They also come from different issuers: State Street and Teucrium. Their fees differ too: 0.28% for CERY and 1.91% for WEAT.

Which has better risk-adjusted returns?

CERY currently has the higher Sharpe Ratio (1.96 vs 0.16), 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.