CMDY vs. IBIT
CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - CMDY is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, CMDY returned 37.10% vs -38.74% for IBIT. At a 0.10 correlation, their price movements are largely independent. CMDY charges 0.28%/yr vs 0.25%/yr for IBIT.
Performance
CMDY vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, CMDY achieves a 25.44% return, which is significantly higher than IBIT's -25.48% return.
CMDY
- 1D
- 0.02%
- 1M
- -2.52%
- YTD
- 25.44%
- 6M
- 24.53%
- 1Y
- 37.10%
- 3Y*
- 15.48%
- 5Y*
- 10.71%
- 10Y*
- —
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CMDY vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 25.44% | 15.81% | 6.27% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
Correlation
The correlation between CMDY and IBIT is 0.04, 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 | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.10 |
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Return for Risk
CMDY vs. IBIT — Risk / Return Rank
CMDY
IBIT
CMDY vs. IBIT - 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 Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.21 | ||
| Sortino ratioReturn per unit of downside risk | +4.15 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 0.86 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 4.82 | -0.79 | +5.61 |
| Martin ratioReturn relative to average drawdown | 14.50 | -1.36 | +15.86 |
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 | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.32 | -0.89 | +3.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.30 | +0.26 |
Drawdowns
CMDY vs. IBIT - Drawdown Comparison
The maximum CMDY drawdown since its inception was -31.19%, smaller than the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for CMDY and IBIT.
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Drawdown Indicators
| CMDY | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.19% | -49.36% | +18.17% |
Max Drawdown (1Y)Largest decline over 1 year | -7.73% | -49.36% | +41.63% |
Max Drawdown (3Y)Largest decline over 3 years | -10.08% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.56% | — | — |
Current DrawdownCurrent decline from peak | -3.97% | -48.10% | +44.13% |
Average DrawdownAverage peak-to-trough decline | -13.14% | -16.02% | +2.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 28.44% | -25.87% |
Volatility
CMDY vs. IBIT - Volatility Comparison
The current volatility for iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) is 5.04%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that CMDY experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMDY | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 9.50% | -4.46% |
Volatility (6M)Calculated over the trailing 6-month period | 14.20% | 34.44% | -20.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.06% | 43.73% | -27.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.80% | 50.19% | -34.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.63% | 50.19% | -35.56% |
CMDY vs. IBIT - Expense Ratio Comparison
CMDY has a 0.28% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
CMDY vs. IBIT - Dividend Comparison
CMDY's dividend yield for the trailing twelve months is around 10.28%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CMDY and IBIT have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.50%) compared to CMDY (5.04%). In terms of maximum drawdown, CMDY dropped -31.19% vs IBIT's -49.36%.
On 1-year performance, CMDY leads with 37.10% vs -38.74% for IBIT. On fees, IBIT 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 1-year period, CMDY has performed better with a 37.10% return vs -38.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT 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 0.00% for IBIT.
CMDY is categorized as Commodities, while IBIT is Cryptocurrency. CMDY tracks Bloomberg Roll Select Commodity Total Return Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.28% for CMDY and 0.25% for IBIT.
CMDY currently has the higher Sharpe Ratio (2.32 vs -0.89), 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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