CMDY vs. BCI

Last updated Jun 5, 2026

CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) and BCI (abrdn Bloomberg All Commodity Strategy K-1 Free ETF) are both Commodities funds. CMDY is passively managed, while BCI is actively managed. Over the past 5 years, CMDY returned 10.49%/yr vs 10.84%/yr for BCI. Their correlation of 0.91 suggests significant overlap in exposure. CMDY charges 0.28%/yr vs 0.25%/yr for BCI.

Performance

CMDY vs. BCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CMDY having a 24.16% return and BCI slightly higher at 25.35%.

CMDY

• 1D: -1.01%
• 1M: -3.07%
• YTD: 24.16%
• 6M: 23.07%
• 1Y: 35.71%
• 3Y*: 15.11%
• 5Y*: 10.49%
• 10Y*: —

BCI

• 1D: -1.05%
• 1M: -3.58%
• YTD: 25.35%
• 6M: 24.07%
• 1Y: 37.16%
• 3Y*: 15.51%
• 5Y*: 10.84%
• 10Y*: —

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

CMDY vs. BCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	24.16%	15.81%	5.43%	-9.33%	14.55%	26.38%	1.15%	4.96%	-11.11%
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	25.35%	15.07%	5.47%	-8.79%	15.09%	26.18%	-2.77%	7.06%	-10.44%

Correlation

The correlation between CMDY and BCI is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Apr 6, 2018	0.91

The correlation between CMDY and BCI has been stable across timeframes, ranging from 0.91 to 0.98 - a consistent structural relationship.

CMDY vs. BCI - Sectors Allocation Comparison

Sectors	CMDY	BCI
Communication Services	100.0%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

CMDY vs. BCI — Risk / Return Rank

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

CMDY

CMDY Risk / Return Rank: 72
CMDY Sharpe Ratio Rank: 69
CMDY Sortino Ratio Rank: 61
CMDY Omega Ratio Rank: 68
CMDY Calmar Ratio Rank: 85
CMDY Martin Ratio Rank: 74

BCI

BCI Risk / Return Rank: 70
BCI Sharpe Ratio Rank: 68
BCI Sortino Ratio Rank: 61
BCI Omega Ratio Rank: 67
BCI Calmar Ratio Rank: 87
BCI Martin Ratio Rank: 69

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.

CMDY vs. BCI - 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 Strategy K-1 Free ETF (BCI). 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.

	CMDY	BCI	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.20	+0.03
Sortino ratio: Return per unit of downside risk	2.83	2.81	+0.02
Omega ratio: Gain probability vs. loss probability	1.40	1.40	+0.01
Calmar ratio: Return relative to maximum drawdown	4.64	4.90	-0.26
Martin ratio: Return relative to average drawdown	13.86	12.53	+1.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMDY vs. BCI - Sharpe Ratio Comparison

The current CMDY Sharpe Ratio is 2.23, which is comparable to the BCI Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of CMDY and BCI, 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

	CMDY	BCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	2.20	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.65	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.47	+0.08

Drawdowns

CMDY vs. BCI - Drawdown Comparison

The maximum CMDY drawdown since its inception was -31.19%, roughly equal to the maximum BCI drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for CMDY and BCI.

Drawdown Indicators

	CMDY	BCI	Difference
Max Drawdown Largest peak-to-trough decline	-31.19%	-32.69%	+1.50%
Max Drawdown (1Y) Largest decline over 1 year	-7.73%	-7.61%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-10.08%	-11.38%	+1.30%
Max Drawdown (5Y) Largest decline over 5 years	-26.56%	-26.50%	-0.06%
Current Drawdown Current decline from peak	-4.95%	-5.52%	+0.57%
Average Drawdown Average peak-to-trough decline	-13.14%	-12.00%	-1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.97%	-0.39%

Volatility

CMDY vs. BCI - Volatility Comparison

iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) have volatilities of 5.11% and 5.23%, 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.

Volatility by Period

	CMDY	BCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	5.23%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	14.25%	14.84%	-0.59%
Volatility (1Y) Calculated over the trailing 1-year period	16.10%	16.96%	-0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.80%	16.81%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.63%	15.65%	-1.02%

CMDY vs. BCI - Expense Ratio Comparison

CMDY has a 0.28% expense ratio, which is higher than BCI's 0.25% expense ratio.

Dividends

CMDY vs. BCI - Dividend Comparison

CMDY's dividend yield for the trailing twelve months is around 10.38%, less than BCI's 13.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	13.15%	16.49%	3.29%	3.93%	19.98%	19.43%	0.68%	1.47%	1.13%	5.02%
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	10.38%	12.89%	4.23%	5.10%	3.98%	16.09%	0.15%	2.21%	1.73%	0.00%

Frequently Asked Questions

Can I hold both CMDY and BCI in my portfolio?

With a correlation of 0.98, CMDY and BCI 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.

Which is riskier, CMDY or BCI?

BCI has higher volatility (5.23%) compared to CMDY (5.11%). In terms of maximum drawdown, CMDY dropped -31.19% vs BCI's -32.69%.

Which ETF is better, CMDY or BCI?

On 5-year performance, BCI leads with 10.84% vs 10.49% for CMDY. On fees, BCI is cheaper at 0.25% per year. On volatility, CMDY has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CMDY or BCI?

Over the 5-year period, BCI has performed better with a 10.84% return vs 10.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CMDY or BCI?

BCI is cheaper with a 0.25% expense ratio, compared with 0.28% for CMDY.

Which ETF pays a higher dividend yield, CMDY or BCI?

BCI has the higher dividend yield at 13.15%, compared with 10.38% for CMDY.

What is the main difference between CMDY and BCI?

They also come from different issuers: iShares and Aberdeen. Their fees differ too: 0.28% for CMDY and 0.25% for BCI.

Which has better risk-adjusted returns?

CMDY currently has the higher Sharpe Ratio (2.23 vs 2.20), 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.