DJP vs. CERY
DJP (iPath Bloomberg Commodity Index Total Return ETN) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both Commodities funds - DJP tracks the Bloomberg Commodity Index while CERY tracks the Bloomberg Enhanced Roll Yield Total Return Index. Both are passively managed. Over the past year, DJP returned 44.52% vs 44.30% for CERY. Their correlation of 0.92 suggests significant overlap in exposure. DJP charges 0.70%/yr vs 0.28%/yr for CERY.
Performance
DJP vs. CERY - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with DJP having a 30.63% return and CERY slightly lower at 29.88%.
DJP
- 1D
- 0.02%
- 1M
- -3.31%
- YTD
- 30.63%
- 6M
- 29.34%
- 1Y
- 44.52%
- 3Y*
- 17.94%
- 5Y*
- 12.46%
- 10Y*
- 7.36%
CERY
- 1D
- 0.06%
- 1M
- -1.63%
- YTD
- 29.88%
- 6M
- 30.50%
- 1Y
- 44.30%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DJP vs. CERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 30.63% | 17.20% | 5.91% |
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 29.88% | 15.68% | 3.92% |
Correlation
The correlation between DJP and CERY is 0.93, 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 | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024 | 0.92 |
The correlation between DJP and CERY has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DJP vs. CERY — Risk / Return Rank
DJP
CERY
DJP vs. CERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iPath Bloomberg Commodity Index Total Return ETN (DJP) 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.
| DJP | CERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.51 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 5.20 | 6.38 | -1.18 |
| Martin ratioReturn relative to average drawdown | 13.30 | 20.66 | -7.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| DJP | CERY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.36 | 2.90 | -0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.00 | 2.00 | -2.00 |
Drawdowns
DJP vs. CERY - Drawdown Comparison
The maximum DJP drawdown since its inception was -78.35%, which is greater than CERY's maximum drawdown of -10.05%. Use the drawdown chart below to compare losses from any high point for DJP and CERY.
Loading charts...
Drawdown Indicators
| DJP | CERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.35% | -10.05% | -68.30% |
Max Drawdown (1Y)Largest decline over 1 year | -8.61% | -6.98% | -1.63% |
Max Drawdown (3Y)Largest decline over 3 years | -13.41% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.36% | — | — |
Current DrawdownCurrent decline from peak | -32.82% | -3.71% | -29.11% |
Average DrawdownAverage peak-to-trough decline | -50.86% | -2.11% | -48.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 2.15% | +1.21% |
Volatility
DJP vs. CERY - Volatility Comparison
iPath Bloomberg Commodity Index Total Return ETN (DJP) has a higher volatility of 5.85% compared to SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) at 4.94%. This indicates that DJP's price experiences larger fluctuations and is considered to be riskier than CERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DJP | CERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.85% | 4.94% | +0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 16.64% | 13.29% | +3.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.92% | 15.37% | +3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 14.71% | +4.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.06% | 14.71% | +2.35% |
DJP vs. CERY - Expense Ratio Comparison
DJP has a 0.70% expense ratio, which is higher than CERY's 0.28% expense ratio.
Dividends
DJP vs. CERY - Dividend Comparison
DJP has not paid dividends to shareholders, while CERY's dividend yield for the trailing twelve months is around 3.85%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 3.85% | 4.99% | 0.52% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, DJP and CERY 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.
DJP has higher volatility (5.85%) compared to CERY (4.94%). In terms of maximum drawdown, DJP dropped -78.35% vs CERY's -10.05%.
On 1-year performance, DJP leads with 44.52% vs 44.30% for CERY. On fees, CERY is cheaper at 0.28% per year. On volatility, CERY has been the lower-risk option at 4.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DJP has performed better with a 44.52% return vs 44.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CERY is cheaper with a 0.28% expense ratio, compared with 0.70% for DJP.
CERY has the higher dividend yield at 3.85%, compared with 0.00% for DJP.
DJP tracks Bloomberg Commodity Index, while CERY tracks Bloomberg Enhanced Roll Yield Total Return Index. They also come from different issuers: Barclays Capital and State Street. Their fees differ too: 0.70% for DJP and 0.28% for CERY.
CERY currently has the higher Sharpe Ratio (2.90 vs 2.36), 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.
Find the right allocation for DJP and CERY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer