CERY vs. XLK

Last updated Jun 4, 2026

CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past year, CERY returned 44.30% vs 66.93% for XLK. At a 0.06 correlation, their price movements are largely independent. CERY charges 0.28%/yr vs 0.08%/yr for XLK.

Performance

CERY vs. XLK - 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 State Street Technology Select Sector SPDR ETF (XLK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CERY achieves a 29.88% return, which is significantly lower than XLK's 36.47% return.

CERY

• 1D: 0.06%
• 1M: -1.63%
• YTD: 29.88%
• 6M: 30.50%
• 1Y: 44.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLK

• 1D: -1.00%
• 1M: 21.09%
• YTD: 36.47%
• 6M: 35.71%
• 1Y: 66.93%
• 3Y*: 33.90%
• 5Y*: 23.83%
• 10Y*: 25.84%

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

CERY vs. XLK - 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%
XLK State Street Technology Select Sector SPDR ETF	36.47%	24.61%	11.45%

Correlation

The correlation between CERY and XLK is -0.02, 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	-0.02
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.06

Return for Risk

CERY vs. XLK — Risk / Return Rank

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

CERY

CERY Risk / Return Rank: 87
CERY Sharpe Ratio Rank: 86
CERY Sortino Ratio Rank: 81
CERY Omega Ratio Rank: 83
CERY Calmar Ratio Rank: 92
CERY Martin Ratio Rank: 90

XLK

XLK Risk / Return Rank: 83
XLK Sharpe Ratio Rank: 91
XLK Sortino Ratio Rank: 85
XLK Omega Ratio Rank: 83
XLK Calmar Ratio Rank: 80
XLK Martin Ratio Rank: 73

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. XLK - 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 State Street Technology Select Sector SPDR ETF (XLK). 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	XLK	Difference
Sharpe ratio: Return per unit of total volatility	2.90	3.24	-0.34
Sortino ratio: Return per unit of downside risk	3.66	3.92	-0.26
Omega ratio: Gain probability vs. loss probability	1.51	1.52	-0.01
Calmar ratio: Return relative to maximum drawdown	6.38	4.22	+2.15
Martin ratio: Return relative to average drawdown	20.66	14.16	+6.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CERY vs. XLK - Sharpe Ratio Comparison

The current CERY Sharpe Ratio is 2.90, which is comparable to the XLK Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of CERY and XLK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CERY	XLK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.90	3.24	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.96	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.00	0.42	+1.58

Drawdowns

CERY vs. XLK - Drawdown Comparison

The maximum CERY drawdown since its inception was -10.05%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for CERY and XLK.

Drawdown Indicators

	CERY	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-10.05%	-82.05%	+72.00%
Max Drawdown (1Y) Largest decline over 1 year	-6.98%	-15.92%	+8.94%
Max Drawdown (3Y) Largest decline over 3 years	—	-25.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.56%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.56%	—
Current Drawdown Current decline from peak	-3.71%	-1.00%	-2.71%
Average Drawdown Average peak-to-trough decline	-2.11%	-34.96%	+32.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	4.74%	-2.59%

Volatility

CERY vs. XLK - Volatility Comparison

The current volatility for SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) is 4.94%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 6.98%. This indicates that CERY experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CERY	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.94%	6.98%	-2.04%
Volatility (6M) Calculated over the trailing 6-month period	13.29%	16.68%	-3.39%
Volatility (1Y) Calculated over the trailing 1-year period	15.37%	20.82%	-5.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.71%	24.90%	-10.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.71%	24.49%	-9.78%

CERY vs. XLK - Expense Ratio Comparison

CERY has a 0.28% expense ratio, which is higher than XLK's 0.08% expense ratio.

Dividends

CERY vs. XLK - Dividend Comparison

CERY's dividend yield for the trailing twelve months is around 3.85%, more than XLK's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	3.85%	4.99%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLK State Street Technology Select Sector SPDR ETF	0.39%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Frequently Asked Questions

Can I hold both CERY and XLK in my portfolio?

CERY and XLK have a correlation of -0.02, 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 XLK?

XLK has higher volatility (6.98%) compared to CERY (4.94%). In terms of maximum drawdown, CERY dropped -10.05% vs XLK's -82.05%.

Which ETF is better, CERY or XLK?

On 1-year performance, XLK leads with 66.93% vs 44.30% for CERY. On fees, XLK is cheaper at 0.08% 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.

Which ETF has performed better, CERY or XLK?

Over the 1-year period, XLK has performed better with a 66.93% return vs 44.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CERY or XLK?

XLK is cheaper with a 0.08% expense ratio, compared with 0.28% for CERY.

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

CERY has the higher dividend yield at 3.85%, compared with 0.39% for XLK.

What is the main difference between CERY and XLK?

CERY is categorized as Commodities, while XLK is Technology Equities. CERY tracks Bloomberg Enhanced Roll Yield Total Return Index, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. Their fees differ too: 0.28% for CERY and 0.08% for XLK.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (3.24 vs 2.90), 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.