CMDY vs. VCMDX

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and Vanguard Commodity Strategy Fund Admiral Shares (VCMDX).

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. VCMDX is managed by Vanguard. It was launched on Jun 25, 2019.

Performance

CMDY vs. VCMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and Vanguard Commodity Strategy Fund Admiral Shares (VCMDX). The values are adjusted to include any dividend payments, if applicable.

CMDY vs. VCMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	21.23%	15.81%	5.43%	-9.33%	14.55%	26.38%	1.15%	1.49%
VCMDX Vanguard Commodity Strategy Fund Admiral Shares	17.80%	18.20%	5.27%	-7.45%	13.83%	34.82%	5.07%	2.74%

Returns By Period

In the year-to-date period, CMDY achieves a 21.23% return, which is significantly higher than VCMDX's 17.80% return.

CMDY

• 1D: -0.54%
• 1M: 6.54%
• YTD: 21.23%
• 6M: 26.39%
• 1Y: 28.68%
• 3Y*: 12.40%
• 5Y*: 12.67%
• 10Y*: —

VCMDX

• 1D: -0.42%
• 1M: 4.86%
• YTD: 17.80%
• 6M: 23.21%
• 1Y: 25.74%
• 3Y*: 11.96%
• 5Y*: 13.95%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CMDY vs. VCMDX - Expense Ratio Comparison

CMDY has a 0.28% expense ratio, which is higher than VCMDX's 0.20% expense ratio.

CMDY

iShares Bloomberg Roll Select Commodity Strategy ETF

VCMDX

Vanguard Commodity Strategy Fund Admiral Shares

Return for Risk

CMDY vs. VCMDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMDY

CMDY Risk / Return Rank: 84
CMDY Sharpe Ratio Rank: 85
CMDY Sortino Ratio Rank: 84
CMDY Omega Ratio Rank: 82
CMDY Calmar Ratio Rank: 89
CMDY Martin Ratio Rank: 81

VCMDX

VCMDX Risk / Return Rank: 85
VCMDX Sharpe Ratio Rank: 85
VCMDX Sortino Ratio Rank: 82
VCMDX Omega Ratio Rank: 79
VCMDX Calmar Ratio Rank: 93
VCMDX Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMDY vs. VCMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) and Vanguard Commodity Strategy Fund Admiral Shares (VCMDX). 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	VCMDX	Difference
Sharpe ratio Return per unit of total volatility	1.75	1.68	+0.08
Sortino ratio Return per unit of downside risk	2.31	2.16	+0.14
Omega ratio Gain probability vs. loss probability	1.33	1.31	+0.02
Calmar ratio Return relative to maximum drawdown	3.00	3.01	-0.01
Martin ratio Return relative to average drawdown	9.38	9.16	+0.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMDY vs. VCMDX - Sharpe Ratio Comparison

The current CMDY Sharpe Ratio is 1.75, which is comparable to the VCMDX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of CMDY and VCMDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CMDY	VCMDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	1.68	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.89	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.83	-0.29

Correlation

The correlation between CMDY and VCMDX is 0.93, 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.

Dividends

CMDY vs. VCMDX - Dividend Comparison

CMDY's dividend yield for the trailing twelve months is around 10.64%, less than VCMDX's 12.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	10.64%	12.89%	4.23%	5.10%	3.98%	16.09%	0.15%	2.21%	1.73%
VCMDX Vanguard Commodity Strategy Fund Admiral Shares	12.91%	15.21%	2.19%	2.50%	14.21%	30.56%	0.50%	0.60%	0.00%

Drawdowns

CMDY vs. VCMDX - Drawdown Comparison

The maximum CMDY drawdown since its inception was -31.19%, which is greater than VCMDX's maximum drawdown of -26.67%. Use the drawdown chart below to compare losses from any high point for CMDY and VCMDX.

Drawdown Indicators

	CMDY	VCMDX	Difference
Max Drawdown Largest peak-to-trough decline	-31.19%	-26.67%	-4.52%
Max Drawdown (1Y) Largest decline over 1 year	-9.57%	-8.92%	-0.65%
Max Drawdown (5Y) Largest decline over 5 years	-26.56%	-25.45%	-1.11%
Current Drawdown Current decline from peak	-0.97%	-1.73%	+0.76%
Average Drawdown Average peak-to-trough decline	-13.38%	-11.10%	-2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	2.93%	+0.13%

Volatility

CMDY vs. VCMDX - Volatility Comparison

iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) has a higher volatility of 6.76% compared to Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) at 5.97%. This indicates that CMDY's price experiences larger fluctuations and is considered to be riskier than VCMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMDY	VCMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.76%	5.97%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	13.02%	12.20%	+0.82%
Volatility (1Y) Calculated over the trailing 1-year period	16.43%	15.60%	+0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.63%	15.81%	-0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.54%	15.40%	-0.86%