COM vs. CERY

Last updated Jun 4, 2026

COM (Direxion Auspice Broad Commodity Strategy ETF) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both Commodities funds - COM tracks the Auspice Broad Commodity ER Index while CERY tracks the Bloomberg Enhanced Roll Yield Total Return Index. Both are passively managed. Over the past year, COM returned 22.41% vs 44.30% for CERY. A 0.78 correlation means they provide meaningful diversification when combined. COM charges 0.70%/yr vs 0.28%/yr for CERY.

Performance

COM vs. CERY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Auspice Broad Commodity Strategy ETF (COM) and SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COM achieves a 14.96% return, which is significantly lower than CERY's 29.88% return.

COM

• 1D: -0.76%
• 1M: -2.14%
• YTD: 14.96%
• 6M: 14.36%
• 1Y: 22.41%
• 3Y*: 7.16%
• 5Y*: 8.28%
• 10Y*: —

CERY

• 1D: 0.06%
• 1M: -1.63%
• YTD: 29.88%
• 6M: 30.50%
• 1Y: 44.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COM vs. CERY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
COM Direxion Auspice Broad Commodity Strategy ETF	14.96%	7.72%	0.76%
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	29.88%	15.68%	3.92%

Correlation

The correlation between COM and CERY is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.78

The correlation between COM and CERY has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.

Return for Risk

COM vs. CERY — Risk / Return Rank

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

COM

COM Risk / Return Rank: 70
COM Sharpe Ratio Rank: 64
COM Sortino Ratio Rank: 60
COM Omega Ratio Rank: 67
COM Calmar Ratio Rank: 87
COM Martin Ratio Rank: 75

CERY

CERY Risk / Return Rank: 87
CERY Sharpe Ratio Rank: 86
CERY Sortino Ratio Rank: 81
CERY Omega Ratio Rank: 83
CERY Calmar Ratio Rank: 92
CERY Martin Ratio Rank: 90

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.

COM vs. CERY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Auspice Broad Commodity Strategy ETF (COM) and SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY). 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.

	COM	CERY	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.90	-0.73
Sortino ratio: Return per unit of downside risk	2.89	3.66	-0.77
Omega ratio: Gain probability vs. loss probability	1.41	1.51	-0.10
Calmar ratio: Return relative to maximum drawdown	4.95	6.38	-1.43
Martin ratio: Return relative to average drawdown	14.37	20.66	-6.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COM vs. CERY - Sharpe Ratio Comparison

The current COM Sharpe Ratio is 2.16, which is comparable to the CERY Sharpe Ratio of 2.90. The chart below compares the historical Sharpe Ratios of COM and CERY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	COM	CERY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.90	-0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	2.00	-1.28

Drawdowns

COM vs. CERY - Drawdown Comparison

The maximum COM drawdown since its inception was -15.95%, which is greater than CERY's maximum drawdown of -10.05%. Use the drawdown chart below to compare losses from any high point for COM and CERY.

Drawdown Indicators

	COM	CERY	Difference
Max Drawdown Largest peak-to-trough decline	-15.95%	-10.05%	-5.90%
Max Drawdown (1Y) Largest decline over 1 year	-4.55%	-6.98%	+2.43%
Max Drawdown (3Y) Largest decline over 3 years	-8.50%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.02%	—	—
Current Drawdown Current decline from peak	-4.55%	-3.71%	-0.84%
Average Drawdown Average peak-to-trough decline	-6.28%	-2.11%	-4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.56%	2.15%	-0.59%

Volatility

COM vs. CERY - Volatility Comparison

The current volatility for Direxion Auspice Broad Commodity Strategy ETF (COM) is 4.04%, while SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) has a volatility of 4.94%. This indicates that COM experiences smaller price fluctuations and is considered to be less risky than CERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COM	CERY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	4.94%	-0.90%
Volatility (6M) Calculated over the trailing 6-month period	8.60%	13.29%	-4.69%
Volatility (1Y) Calculated over the trailing 1-year period	10.41%	15.37%	-4.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.60%	14.71%	-5.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.77%	14.71%	-4.94%

COM vs. CERY - Expense Ratio Comparison

COM has a 0.70% expense ratio, which is higher than CERY's 0.28% expense ratio.

Dividends

COM vs. CERY - Dividend Comparison

COM's dividend yield for the trailing twelve months is around 2.46%, less than CERY's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	3.85%	4.99%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
COM Direxion Auspice Broad Commodity Strategy ETF	2.46%	2.99%	3.88%	3.80%	8.59%	10.32%	0.13%	1.09%	2.36%	0.09%

Frequently Asked Questions

Can I hold both COM and CERY in my portfolio?

COM and CERY have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COM or CERY?

CERY has higher volatility (4.94%) compared to COM (4.04%). In terms of maximum drawdown, COM dropped -15.95% vs CERY's -10.05%.

Which ETF is better, COM or CERY?

On 1-year performance, CERY leads with 44.30% vs 22.41% for COM. On fees, CERY is cheaper at 0.28% per year. On volatility, COM has been the lower-risk option at 4.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COM or CERY?

Over the 1-year period, CERY has performed better with a 44.30% return vs 22.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COM or CERY?

CERY is cheaper with a 0.28% expense ratio, compared with 0.70% for COM.

Which ETF pays a higher dividend yield, COM or CERY?

CERY has the higher dividend yield at 3.85%, compared with 2.46% for COM.

What is the main difference between COM and CERY?

COM tracks Auspice Broad Commodity ER Index, while CERY tracks Bloomberg Enhanced Roll Yield Total Return Index. They also come from different issuers: Direxion and State Street. Their fees differ too: 0.70% for COM and 0.28% for CERY.

Which has better risk-adjusted returns?

CERY currently has the higher Sharpe Ratio (2.90 vs 2.16), 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.