CMDY vs. IVV
CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - CMDY is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, CMDY returned 9.60%/yr vs 13.13%/yr for IVV. Their 0.23 correlation means their historical movements had little consistent relationship. CMDY charges 0.28%/yr vs 0.03%/yr for IVV.
Performance
CMDY vs. IVV - Performance Comparison
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Returns By Period
In the year-to-date period, CMDY achieves a 19.88% return, which is significantly higher than IVV's 11.75% return.
CMDY
- 1D
- -0.80%
- 1M
- 6.02%
- 6M
- 13.61%
- YTD
- 19.88%
- 1Y
- 31.89%
- 3Y*
- 11.78%
- 5Y*
- 9.60%
- 10Y*
- —
- ALL TIME*
- 7.40%
IVV
- 1D
- 1.47%
- 1M
- 1.72%
- 6M
- 9.57%
- YTD
- 11.75%
- 1Y
- 23.34%
- 3Y*
- 20.85%
- 5Y*
- 13.13%
- 10Y*
- 15.14%
- ALL TIME*
- 8.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.77M | $2.78M | $3.98M | |
| $3.33B | $3.25B | $5.92B |
CMDY vs. IVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 19.88% | 15.81% | 5.43% | -9.33% | 14.55% | 26.38% | 1.15% | 4.96% | -11.13% |
IVV iShares Core S&P 500 ETF | 11.75% | 17.85% | 24.93% | 26.31% | -18.16% | 28.76% | 18.40% | 31.07% | -3.77% |
Correlation
The correlation between CMDY and IVV is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018 | 0.23 |
The correlation between CMDY and IVV shifts across timeframes, from -0.05 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CMDY vs. IVV — Risk / Return Rank
CMDY
IVV
CMDY vs. IVV - 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 Core S&P 500 ETF (IVV). 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 | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.33 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.64 | -0.39 |
| Martin ratioReturn relative to average drawdown | 7.22 | 11.23 | -4.01 |
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Drawdowns
CMDY vs. IVV - Drawdown Comparison
The maximum CMDY drawdown since its inception was -31.19%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for CMDY and IVV.
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Drawdown Indicators
| CMDY | IVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.19% | -55.25% | +24.06% |
Max Drawdown (1Y)Largest decline over 1 year | -14.23% | -8.89% | -5.34% |
Max Drawdown (3Y)Largest decline over 3 years | -14.23% | -18.75% | +4.52% |
Max Drawdown (5Y)Largest decline over 5 years | -26.56% | -24.53% | -2.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.90% | — |
Current DrawdownCurrent decline from peak | -8.23% | 0.00% | -8.23% |
Average DrawdownAverage peak-to-trough decline | -13.06% | -10.72% | -2.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.43% | 2.08% | +2.35% |
Volatility
CMDY vs. IVV - Volatility Comparison
iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) has a higher volatility of 4.16% compared to iShares Core S&P 500 ETF (IVV) at 3.81%. This indicates that CMDY's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMDY | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | 3.81% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 13.81% | 10.27% | +3.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.63% | 12.87% | +3.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.76% | 17.03% | -1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.64% | 18.07% | -3.43% |
CMDY vs. IVV - Expense Ratio Comparison
CMDY has a 0.28% expense ratio, which is higher than IVV's 0.03% expense ratio.
Dividends
CMDY vs. IVV - Dividend Comparison
CMDY's dividend yield for the trailing twelve months is around 10.76%, more than IVV's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 10.76% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% | 0.00% | 0.00% | 0.00% |
IVV iShares Core S&P 500 ETF | 1.08% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
Frequently Asked Questions
CMDY and IVV have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMDY has higher volatility (4.16%) compared to IVV (3.81%). In terms of maximum drawdown, CMDY dropped -31.19% vs IVV's -55.25%.
On 5-year performance, IVV leads with 13.13% vs 9.60% for CMDY. On fees, IVV is cheaper at 0.03% per year. On volatility, IVV has been the lower-risk option at 3.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IVV has performed better with a 13.13% return vs 9.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVV is cheaper with a 0.03% expense ratio, compared with 0.28% for CMDY.
CMDY has the higher dividend yield at 10.76%, compared with 1.08% for IVV.
CMDY is categorized as Commodities, while IVV is S&P 500. CMDY tracks Bloomberg Roll Select Commodity Total Return Index, while IVV tracks S&P 500 Index. Their fees differ too: 0.28% for CMDY and 0.03% for IVV.
CMDY currently has the higher Sharpe Ratio (1.93 vs 1.82), 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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