CMDY vs. HGER
CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) and HGER (Harbor Commodity All-Weather Strategy ETF) are both Commodities funds - CMDY tracks the Bloomberg Roll Select Commodity Total Return Index while HGER tracks the Quantix Commodity Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, CMDY returned 11.39%/yr vs 17.92%/yr for HGER. Their correlation of 0.84 suggests significant overlap in exposure. CMDY charges 0.28%/yr vs 0.68%/yr for HGER.
Performance
CMDY vs. HGER - Performance Comparison
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Returns By Period
In the year-to-date period, CMDY achieves a 14.22% return, which is significantly lower than HGER's 18.53% return.
CMDY
- 1D
- -1.43%
- 1M
- -9.33%
- YTD
- 14.22%
- 6M
- 12.70%
- 1Y
- 21.95%
- 3Y*
- 11.39%
- 5Y*
- 9.18%
- 10Y*
- —
HGER
- 1D
- -0.51%
- 1M
- -8.46%
- YTD
- 18.53%
- 6M
- 16.24%
- 1Y
- 26.94%
- 3Y*
- 17.92%
- 5Y*
- —
- 10Y*
- —
CMDY vs. HGER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 14.22% | 15.81% | 5.43% | -9.33% | 4.65% |
HGER Harbor Commodity All-Weather Strategy ETF | 18.53% | 20.08% | 9.25% | 1.93% | 9.66% |
Correlation
The correlation between CMDY and HGER is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.84 |
The correlation between CMDY and HGER has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.
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Return for Risk
CMDY vs. HGER — Risk / Return Rank
CMDY
HGER
CMDY vs. HGER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and Harbor Commodity All-Weather Strategy ETF (HGER). 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 | HGER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.30 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 2.24 | -0.48 |
| Martin ratioReturn relative to average drawdown | 7.16 | 9.09 | -1.92 |
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Drawdowns
CMDY vs. HGER - Drawdown Comparison
The maximum CMDY drawdown since its inception was -31.19%, which is greater than HGER's maximum drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for CMDY and HGER.
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Drawdown Indicators
| CMDY | HGER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.19% | -23.31% | -7.88% |
Max Drawdown (1Y)Largest decline over 1 year | -12.56% | -12.10% | -0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -12.56% | -12.10% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -26.56% | — | — |
Current DrawdownCurrent decline from peak | -12.56% | -12.10% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -13.11% | -7.67% | -5.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 3.00% | +0.09% |
Volatility
CMDY vs. HGER - Volatility Comparison
iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and Harbor Commodity All-Weather Strategy ETF (HGER) have volatilities of 3.63% and 3.60%, 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 | HGER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.63% | 3.60% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 14.45% | 14.89% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.35% | 17.00% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.77% | 17.59% | -1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.63% | 17.59% | -2.96% |
CMDY vs. HGER - Expense Ratio Comparison
CMDY has a 0.28% expense ratio, which is lower than HGER's 0.68% expense ratio.
Dividends
CMDY vs. HGER - Dividend Comparison
CMDY's dividend yield for the trailing twelve months is around 11.29%, more than HGER's 5.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 11.29% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% |
HGER Harbor Commodity All-Weather Strategy ETF | 5.98% | 7.09% | 3.28% | 7.24% | 0.64% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CMDY and HGER have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMDY has higher volatility (3.63%) compared to HGER (3.60%). In terms of maximum drawdown, CMDY dropped -31.19% vs HGER's -23.31%.
On 3-year performance, HGER leads with 17.92% vs 11.39% 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 3-year period, HGER has performed better with a 17.92% return vs 11.39%. 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 0.68% for HGER.
CMDY has the higher dividend yield at 11.29%, compared with 5.98% for HGER.
CMDY tracks Bloomberg Roll Select Commodity Total Return Index, while HGER tracks Quantix Commodity Index - Benchmark TR Net. They also come from different issuers: iShares and Harbor. Their fees differ too: 0.28% for CMDY and 0.68% for HGER.
HGER currently has the higher Sharpe Ratio (1.61 vs 1.36), 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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