CMDY vs. DBC
Compare and contrast key facts about iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and Invesco DB Commodity Index Tracking Fund (DBC).
CMDY and DBC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CMDY is a passively managed fund by iShares that tracks the performance of the Bloomberg Roll Select Commodity Total Return Index. It was launched on Apr 3, 2018. DBC is a passively managed fund by Invesco that tracks the performance of the DBIQ Optimum Yield Diversified Commodity Index Excess Return. It was launched on Feb 3, 2006. Both CMDY and DBC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CMDY or DBC.
Performance
CMDY vs. DBC - Performance Comparison
Returns By Period
In the year-to-date period, CMDY achieves a 2.27% return, which is significantly higher than DBC's -1.00% return.
CMDY
2.27%
-2.14%
-6.21%
-0.06%
7.20%
N/A
DBC
-1.00%
-2.28%
-7.97%
-4.42%
8.93%
0.98%
Key characteristics
| CMDY | DBC | |
|---|---|---|
| Sharpe Ratio | -0.11 | -0.37 |
| Sortino Ratio | -0.08 | -0.42 |
| Omega Ratio | 0.99 | 0.95 |
| Calmar Ratio | -0.05 | -0.11 |
| Martin Ratio | -0.25 | -1.05 |
| Ulcer Index | 4.81% | 5.12% |
| Daily Std Dev | 11.14% | 14.54% |
| Max Drawdown | -31.20% | -76.36% |
| Current Drawdown | -22.29% | -48.16% |
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CMDY vs. DBC - Expense Ratio Comparison
CMDY has a 0.28% expense ratio, which is lower than DBC's 0.85% expense ratio.
Correlation
The correlation between CMDY and DBC is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
CMDY vs. DBC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and Invesco DB Commodity Index Tracking Fund (DBC). 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.
Dividends
CMDY vs. DBC - Dividend Comparison
CMDY's dividend yield for the trailing twelve months is around 4.98%, which matches DBC's 4.99% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 4.98% | 5.09% | 3.98% | 16.09% | 0.14% | 2.21% | 1.73% |
DBC Invesco DB Commodity Index Tracking Fund | 4.99% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% |
Drawdowns
CMDY vs. DBC - Drawdown Comparison
The maximum CMDY drawdown since its inception was -31.20%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for CMDY and DBC. For additional features, visit the drawdowns tool.
Volatility
CMDY vs. DBC - Volatility Comparison
The current volatility for iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) is 3.63%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 5.17%. This indicates that CMDY experiences smaller price fluctuations and is considered to be less risky than DBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.