CMDY vs. CCRV

Last updated Jun 23, 2026

CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) and CCRV (iShares Commodity Curve Carry Strategy ETF) are both Commodities funds from iShares - CMDY tracks the Bloomberg Roll Select Commodity Total Return Index while CCRV tracks the CCRV-US - ICE BofA Commodity Enhanced Carry Index. Both are passively managed. A 0.71 correlation means they provide meaningful diversification when combined. CMDY charges 0.28%/yr vs 0.40%/yr for CCRV.

Performance

CMDY vs. CCRV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and iShares Commodity Curve Carry Strategy ETF (CCRV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CMDY

• 1D: -0.65%
• 1M: -8.01%
• YTD: 15.88%
• 6M: 15.95%
• 1Y: 21.57%
• 3Y*: 11.93%
• 5Y*: 9.37%
• 10Y*: —

CCRV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CMDY vs. CCRV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	15.88%	15.81%	5.43%	-9.33%	14.55%	26.38%	6.76%
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	5.47%	19.91%	33.78%	7.16%

Correlation

The correlation between CMDY and CCRV is 0.09, 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	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Sep 3, 2020	0.71

Over the past year, the correlation between CMDY and CCRV has dropped to 0.09 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

Return for Risk

CMDY vs. CCRV — Risk / Return Rank

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

CMDY

CMDY Risk / Return Rank: 39
CMDY Sharpe Ratio Rank: 38
CMDY Sortino Ratio Rank: 35
CMDY Omega Ratio Rank: 38
CMDY Calmar Ratio Rank: 39
CMDY Martin Ratio Rank: 45

CCRV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. CCRV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and iShares Commodity Curve Carry Strategy ETF (CCRV). 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	CCRV	Difference
Sharpe ratio: Return per unit of total volatility	1.33	—	—
Sortino ratio: Return per unit of downside risk	1.79	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.92	—	—
Martin ratio: Return relative to average drawdown	7.24	—	—

Drawdowns

Drawdown Indicators

	CMDY	CCRV	Difference
Max Drawdown Largest peak-to-trough decline	-31.19%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-11.29%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-11.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.56%	—	—
Current Drawdown Current decline from peak	-11.29%	—	—
Average Drawdown Average peak-to-trough decline	-13.11%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	—	—

Volatility

Volatility by Period

	CMDY	CCRV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.32%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.76%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.63%	—	—

CMDY vs. CCRV - Expense Ratio Comparison

CMDY has a 0.28% expense ratio, which is lower than CCRV's 0.40% expense ratio.

Dividends

CMDY vs. CCRV - Dividend Comparison

CMDY's dividend yield for the trailing twelve months is around 11.13%, while CCRV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%	0.00%	0.00%	0.00%
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	11.13%	12.89%	4.23%	5.10%	3.98%	16.09%	0.15%	2.21%	1.73%

Frequently Asked Questions

Can I hold both CMDY and CCRV in my portfolio?

CMDY and CCRV have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CMDY or CCRV?

On fees, CMDY is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CMDY or CCRV?

CMDY is cheaper with a 0.28% expense ratio, compared with 0.40% for CCRV.

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

CMDY has the higher dividend yield at 11.13%, compared with 0.00% for CCRV.

What is the main difference between CMDY and CCRV?

CMDY tracks Bloomberg Roll Select Commodity Total Return Index, while CCRV tracks CCRV-US - ICE BofA Commodity Enhanced Carry Index. Their fees differ too: 0.28% for CMDY and 0.40% for CCRV.