CMDY vs. COMB
CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) and COMB (GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF) are both Commodities funds. CMDY is passively managed, while COMB is actively managed. Over the past 5 years, CMDY returned 10.71%/yr vs 11.27%/yr for COMB. Their correlation of 0.92 suggests significant overlap in exposure. CMDY charges 0.28%/yr vs 0.25%/yr for COMB.
Performance
CMDY vs. COMB - Performance Comparison
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Returns By Period
In the year-to-date period, CMDY achieves a 25.44% return, which is significantly lower than COMB's 26.81% return.
CMDY
- 1D
- 0.02%
- 1M
- -2.52%
- YTD
- 25.44%
- 6M
- 24.53%
- 1Y
- 37.10%
- 3Y*
- 15.48%
- 5Y*
- 10.71%
- 10Y*
- —
COMB
- 1D
- 0.03%
- 1M
- -2.98%
- YTD
- 26.81%
- 6M
- 25.89%
- 1Y
- 38.86%
- 3Y*
- 16.31%
- 5Y*
- 11.27%
- 10Y*
- —
CMDY vs. COMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 25.44% | 15.81% | 5.43% | -9.33% | 14.55% | 26.38% | 1.15% | 4.96% | -11.11% |
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 26.81% | 15.12% | 5.24% | -7.75% | 14.56% | 26.34% | -2.95% | 7.02% | -10.69% |
Correlation
The correlation between CMDY and COMB 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 | 0.96 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2018 | 0.92 |
The correlation between CMDY and COMB has been stable across timeframes, ranging from 0.92 to 0.98 - a consistent structural relationship.
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Return for Risk
CMDY vs. COMB — Risk / Return Rank
CMDY
COMB
CMDY vs. COMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB). 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 | COMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.41 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.82 | 5.08 | -0.26 |
| Martin ratioReturn relative to average drawdown | 14.50 | 13.24 | +1.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CMDY | COMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | 2.29 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.68 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.52 | +0.04 |
Drawdowns
CMDY vs. COMB - Drawdown Comparison
The maximum CMDY drawdown since its inception was -31.19%, smaller than the maximum COMB drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for CMDY and COMB.
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Drawdown Indicators
| CMDY | COMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.19% | -33.50% | +2.31% |
Max Drawdown (1Y)Largest decline over 1 year | -7.73% | -7.69% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -10.08% | -11.35% | +1.27% |
Max Drawdown (5Y)Largest decline over 5 years | -26.56% | -26.63% | +0.07% |
Current DrawdownCurrent decline from peak | -3.97% | -4.35% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -13.14% | -12.06% | -1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 2.94% | -0.37% |
Volatility
CMDY vs. COMB - Volatility Comparison
iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) have volatilities of 5.04% and 5.14%, 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 | COMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 5.14% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 14.20% | 14.99% | -0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.06% | 17.02% | -0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.80% | 16.70% | -0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.63% | 15.13% | -0.50% |
CMDY vs. COMB - Expense Ratio Comparison
CMDY has a 0.28% expense ratio, which is higher than COMB's 0.25% expense ratio.
Dividends
CMDY vs. COMB - Dividend Comparison
CMDY's dividend yield for the trailing twelve months is around 10.28%, more than COMB's 7.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 10.28% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% | 0.00% |
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 7.14% | 9.05% | 2.48% | 6.57% | 30.85% | 15.83% | 0.07% | 1.48% | 0.97% | 0.20% |
Frequently Asked Questions
With a correlation of 0.98, CMDY and COMB 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.
COMB has higher volatility (5.14%) compared to CMDY (5.04%). In terms of maximum drawdown, CMDY dropped -31.19% vs COMB's -33.50%.
On 5-year performance, COMB leads with 11.27% vs 10.71% for CMDY. On fees, COMB is cheaper at 0.25% per year. On volatility, CMDY has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, COMB has performed better with a 11.27% return vs 10.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMB is cheaper with a 0.25% expense ratio, compared with 0.28% for CMDY.
CMDY has the higher dividend yield at 10.28%, compared with 7.14% for COMB.
They also come from different issuers: iShares and GraniteShares. Their fees differ too: 0.28% for CMDY and 0.25% for COMB.
CMDY currently has the higher Sharpe Ratio (2.32 vs 2.29), 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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