CMDY vs. BCD
CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) and BCD (abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF) are both Commodities funds - CMDY tracks the Bloomberg Roll Select Commodity Total Return Index while BCD tracks the Bloomberg Commodity Index 3 Month Forward Total Return. Both are passively managed. Over the past 5 years, CMDY returned 9.67%/yr vs 10.65%/yr for BCD. Their correlation of 0.91 means they have usually moved in the same direction. CMDY charges 0.28%/yr vs 0.30%/yr for BCD.
Performance
CMDY vs. BCD - Performance Comparison
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Returns By Period
In the year-to-date period, CMDY achieves a 20.84% return, which is significantly higher than BCD's 16.41% return.
CMDY
- 1D
- -0.08%
- 1M
- 6.88%
- 6M
- 9.23%
- YTD
- 20.84%
- 1Y
- 32.95%
- 3Y*
- 11.76%
- 5Y*
- 9.67%
- 10Y*
- —
- ALL TIME*
- 7.51%
BCD
- 1D
- -0.06%
- 1M
- 5.50%
- 6M
- 7.33%
- YTD
- 16.41%
- 1Y
- 28.51%
- 3Y*
- 10.83%
- 5Y*
- 10.65%
- 10Y*
- —
- ALL TIME*
- 8.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.39M | $1.55M | $2.26M | |
| $2.68M | $2.92M | $4.03M |
CMDY vs. BCD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 20.84% | 15.81% | 5.43% | -9.33% | 14.55% | 26.38% | 1.15% | 4.96% | -11.13% |
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 16.41% | 15.71% | 6.20% | -7.58% | 18.38% | 31.87% | 4.76% | 7.34% | -9.59% |
Correlation
The correlation between CMDY and BCD is 0.95 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018 | 0.91 |
The correlation between CMDY and BCD has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.
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Return for Risk
CMDY vs. BCD — Risk / Return Rank
CMDY
BCD
CMDY vs. BCD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD). 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.
| CMDY | BCD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.35 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.22 | +0.07 |
| Martin ratioReturn relative to average drawdown | 7.40 | 7.25 | +0.14 |
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Drawdowns
CMDY vs. BCD - Drawdown Comparison
The maximum CMDY drawdown since its inception was -31.19%, roughly equal to the maximum BCD drawdown of -29.81%. Use the drawdown chart below to compare losses from any high point for CMDY and BCD.
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Drawdown Indicators
| CMDY | BCD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.19% | -29.81% | -1.38% |
Max Drawdown (1Y)Largest decline over 1 year | -14.23% | -12.70% | -1.53% |
Max Drawdown (3Y)Largest decline over 3 years | -14.23% | -12.70% | -1.53% |
Max Drawdown (5Y)Largest decline over 5 years | -26.56% | -23.03% | -3.53% |
Current DrawdownCurrent decline from peak | -7.49% | -6.83% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -13.07% | -9.83% | -3.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.40% | 3.88% | +0.52% |
Volatility
CMDY vs. BCD - Volatility Comparison
iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) have volatilities of 4.00% and 3.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMDY | BCD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.00% | 3.93% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 14.20% | 11.95% | +2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.59% | 14.22% | +2.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.75% | 15.36% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.64% | 13.91% | +0.73% |
CMDY vs. BCD - Expense Ratio Comparison
CMDY has a 0.28% expense ratio, which is lower than BCD's 0.30% expense ratio.
Dividends
CMDY vs. BCD - Dividend Comparison
CMDY's dividend yield for the trailing twelve months is around 10.67%, less than BCD's 14.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 14.79% | 17.21% | 3.60% | 4.51% | 5.21% | 8.30% | 1.29% | 1.55% | 1.59% | 0.07% |
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 10.67% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, CMDY and BCD 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.
CMDY has higher volatility (4.00%) compared to BCD (3.93%). In terms of maximum drawdown, CMDY dropped -31.19% vs BCD's -29.81%.
On 5-year performance, BCD leads with 10.65% vs 9.67% for CMDY. On fees, CMDY is cheaper at 0.28% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BCD has performed better with a 10.65% return vs 9.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CMDY is cheaper with a 0.28% expense ratio, compared with 0.30% for BCD.
BCD has the higher dividend yield at 14.79%, compared with 10.67% for CMDY.
CMDY tracks Bloomberg Roll Select Commodity Total Return Index, while BCD tracks Bloomberg Commodity Index 3 Month Forward Total Return. They also come from different issuers: iShares and Aberdeen. Their fees differ too: 0.28% for CMDY and 0.30% for BCD.
BCD currently has the higher Sharpe Ratio (1.98 vs 1.97), 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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