CMDY vs. VEGI
CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) and VEGI (iShares MSCI Agriculture Producers ETF) are both exchange-traded funds - CMDY is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index, while VEGI is a Natural Resources fund tracking the MSCI ACWI Select Agriculture Producers Investable Market Index. Both are passively managed. Over the past 5 years, CMDY returned 9.59%/yr vs 4.76%/yr for VEGI. Their 0.38 correlation means their historical movements had little consistent relationship. CMDY charges 0.28%/yr vs 0.39%/yr for VEGI.
Performance
CMDY vs. VEGI - Performance Comparison
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Returns By Period
In the year-to-date period, CMDY achieves a 19.38% return, which is significantly higher than VEGI's 16.23% return.
CMDY
- 1D
- 0.62%
- 1M
- 3.61%
- 6M
- 10.00%
- YTD
- 19.38%
- 1Y
- 31.94%
- 3Y*
- 11.62%
- 5Y*
- 9.59%
- 10Y*
- —
- ALL TIME*
- 7.34%
VEGI
- 1D
- -0.69%
- 1M
- -1.08%
- 6M
- 1.40%
- YTD
- 16.23%
- 1Y
- 12.76%
- 3Y*
- 4.82%
- 5Y*
- 4.76%
- 10Y*
- 8.64%
- ALL TIME*
- 5.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.76M | $2.75M | $3.89M | |
| $2.15M | $2.07M | $2.28M |
CMDY vs. VEGI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 19.38% | 15.81% | 5.43% | -9.33% | 14.55% | 26.38% | 1.15% | 4.96% | -11.13% |
VEGI iShares MSCI Agriculture Producers ETF | 16.23% | 11.34% | -4.85% | -8.59% | 6.34% | 21.56% | 20.06% | 13.52% | -7.62% |
Correlation
The correlation between CMDY and VEGI is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.29 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.39 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018 | 0.38 |
The correlation between CMDY and VEGI shifts across timeframes, from 0.26 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CMDY vs. VEGI — Risk / Return Rank
CMDY
VEGI
CMDY vs. VEGI - 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 MSCI Agriculture Producers ETF (VEGI). 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 | VEGI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.15 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 1.49 | +0.77 |
| Martin ratioReturn relative to average drawdown | 7.12 | 3.12 | +3.99 |
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Drawdowns
CMDY vs. VEGI - Drawdown Comparison
The maximum CMDY drawdown since its inception was -31.19%, smaller than the maximum VEGI drawdown of -37.37%. Use the drawdown chart below to compare losses from any high point for CMDY and VEGI.
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Drawdown Indicators
| CMDY | VEGI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.19% | -37.37% | +6.18% |
Max Drawdown (1Y)Largest decline over 1 year | -14.23% | -8.61% | -5.62% |
Max Drawdown (3Y)Largest decline over 3 years | -14.23% | -16.39% | +2.16% |
Max Drawdown (5Y)Largest decline over 5 years | -26.56% | -28.86% | +2.30% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.37% | — |
Current DrawdownCurrent decline from peak | -8.61% | -4.94% | -3.67% |
Average DrawdownAverage peak-to-trough decline | -13.06% | -9.77% | -3.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.50% | 4.10% | +0.40% |
Volatility
CMDY vs. VEGI - Volatility Comparison
The current volatility for iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) is 3.99%, while iShares MSCI Agriculture Producers ETF (VEGI) has a volatility of 4.94%. This indicates that CMDY experiences smaller price fluctuations and is considered to be less risky than VEGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMDY | VEGI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 4.94% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 12.78% | 12.38% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.64% | 15.33% | +1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.77% | 17.87% | -2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.64% | 18.87% | -4.23% |
CMDY vs. VEGI - Expense Ratio Comparison
CMDY has a 0.28% expense ratio, which is lower than VEGI's 0.39% expense ratio.
Dividends
CMDY vs. VEGI - Dividend Comparison
CMDY's dividend yield for the trailing twelve months is around 10.80%, more than VEGI's 1.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 10.80% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% | 0.00% | 0.00% | 0.00% |
VEGI iShares MSCI Agriculture Producers ETF | 1.93% | 2.33% | 2.62% | 2.54% | 1.49% | 1.46% | 1.55% | 1.84% | 2.02% | 1.75% | 2.13% | 2.49% |
Frequently Asked Questions
CMDY and VEGI have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEGI has higher volatility (4.94%) compared to CMDY (3.99%). In terms of maximum drawdown, CMDY dropped -31.19% vs VEGI's -37.37%.
On 5-year performance, CMDY leads with 9.59% vs 4.76% for VEGI. On fees, CMDY is cheaper at 0.28% per year. On volatility, CMDY has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CMDY has performed better with a 9.59% return vs 4.76%. 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 0.39% for VEGI.
CMDY has the higher dividend yield at 10.80%, compared with 1.93% for VEGI.
CMDY is categorized as Commodities, while VEGI is Natural Resources. CMDY tracks Bloomberg Roll Select Commodity Total Return Index, while VEGI tracks MSCI ACWI Select Agriculture Producers Investable Market Index. Their fees differ too: 0.28% for CMDY and 0.39% for VEGI.
CMDY currently has the higher Sharpe Ratio (1.93 vs 0.84), 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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