COMB vs. BCI
COMB (GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF) and BCI (abrdn Bloomberg All Commodity Strategy K-1 Free ETF) are both Commodities funds. COMB is actively managed, while BCI is passively managed. Over the past 5 years, COMB returned 10.03%/yr vs 9.82%/yr for BCI. Their correlation of 0.95 suggests significant overlap in exposure. COMB charges 0.25%/yr vs 0.26%/yr for BCI.
Performance
COMB vs. BCI - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with COMB having a 16.61% return and BCI slightly higher at 16.69%.
COMB
- 1D
- -0.50%
- 1M
- -8.62%
- YTD
- 16.61%
- 6M
- 16.39%
- 1Y
- 21.96%
- 3Y*
- 12.10%
- 5Y*
- 10.03%
- 10Y*
- —
BCI
- 1D
- -0.65%
- 1M
- -8.66%
- YTD
- 16.69%
- 6M
- 16.52%
- 1Y
- 22.05%
- 3Y*
- 11.86%
- 5Y*
- 9.82%
- 10Y*
- —
COMB vs. BCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 16.61% | 15.12% | 5.24% | -7.75% | 14.56% | 26.34% | -2.95% | 7.02% | -11.41% | 4.98% |
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 16.69% | 15.07% | 5.47% | -8.79% | 15.09% | 26.18% | -2.77% | 7.06% | -11.21% | 4.10% |
Correlation
The correlation between COMB and BCI is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since May 24, 2017 | 0.95 |
The correlation between COMB and BCI has been stable across timeframes, ranging from 0.95 to 0.99 - a consistent structural relationship.
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Return for Risk
COMB vs. BCI — Risk / Return Rank
COMB
BCI
COMB vs. BCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI). 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.
| COMB | BCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 1.84 | -0.01 |
| Martin ratioReturn relative to average drawdown | 6.76 | 6.82 | -0.06 |
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Drawdowns
COMB vs. BCI - Drawdown Comparison
The maximum COMB drawdown since its inception was -33.50%, roughly equal to the maximum BCI drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for COMB and BCI.
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Drawdown Indicators
| COMB | BCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.50% | -32.69% | -0.81% |
Max Drawdown (1Y)Largest decline over 1 year | -12.04% | -12.04% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -12.04% | -12.04% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -26.63% | -26.50% | -0.13% |
Current DrawdownCurrent decline from peak | -12.04% | -12.04% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -12.04% | -11.98% | -0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 3.56% | 0.00% |
Volatility
COMB vs. BCI - Volatility Comparison
GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) have volatilities of 3.57% and 3.49%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COMB | BCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 3.49% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 15.19% | 14.94% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.31% | 17.18% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.68% | 16.79% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.13% | 15.65% | -0.52% |
COMB vs. BCI - Expense Ratio Comparison
COMB has a 0.25% expense ratio, which is lower than BCI's 0.26% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
COMB vs. BCI - Dividend Comparison
COMB's dividend yield for the trailing twelve months is around 7.76%, less than BCI's 14.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 14.13% | 16.49% | 3.29% | 3.93% | 19.98% | 19.43% | 0.68% | 1.47% | 1.13% | 5.02% |
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 7.76% | 9.05% | 2.48% | 6.57% | 30.85% | 15.83% | 0.07% | 1.48% | 0.97% | 0.20% |
Frequently Asked Questions
With a correlation of 0.99, COMB and BCI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
COMB has higher volatility (3.57%) compared to BCI (3.49%). In terms of maximum drawdown, COMB dropped -33.50% vs BCI's -32.69%.
On 5-year performance, COMB leads with 10.03% vs 9.82% for BCI. On fees, COMB is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, COMB has performed better with a 10.03% return vs 9.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMB is cheaper with a 0.25% expense ratio, compared with 0.26% for BCI.
BCI has the higher dividend yield at 14.13%, compared with 7.76% for COMB.
They also come from different issuers: GraniteShares and Aberdeen. Their fees differ too: 0.25% for COMB and 0.26% for BCI.
BCI currently has the higher Sharpe Ratio (1.29 vs 1.28), 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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