FLYU vs. CERY

Last updated Jun 23, 2026

FLYU (MicroSectors Travel 3X Leveraged ETNs) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both exchange-traded funds - FLYU is a Leveraged Equities fund tracking the MerQube MicroSectors U.S. Travel Index, while CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index. Both are passively managed. Over the past year, FLYU returned 16.01% vs 26.17% for CERY. At a correlation of -0.09, they often move in opposite directions. FLYU charges 0.95%/yr vs 0.28%/yr for CERY.

Performance

FLYU vs. CERY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel 3X Leveraged ETNs (FLYU) 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, FLYU achieves a -11.82% return, which is significantly lower than CERY's 19.54% return.

FLYU

• 1D: -3.30%
• 1M: 22.82%
• YTD: -11.82%
• 6M: -19.01%
• 1Y: 16.01%
• 3Y*: 9.27%
• 5Y*: —
• 10Y*: —

CERY

• 1D: -0.67%
• 1M: -8.39%
• YTD: 19.54%
• 6M: 18.91%
• 1Y: 26.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLYU vs. CERY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FLYU MicroSectors Travel 3X Leveraged ETNs	-11.82%	-2.29%	73.10%
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	19.54%	15.68%	3.80%

Correlation

The correlation between FLYU and CERY is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.19
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	-0.09

Return for Risk

FLYU vs. CERY — Risk / Return Rank

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

FLYU

FLYU Risk / Return Rank: 13
FLYU Sharpe Ratio Rank: 11
FLYU Sortino Ratio Rank: 16
FLYU Omega Ratio Rank: 15
FLYU Calmar Ratio Rank: 12
FLYU Martin Ratio Rank: 11

CERY

CERY Risk / Return Rank: 50
CERY Sharpe Ratio Rank: 50
CERY Sortino Ratio Rank: 47
CERY Omega Ratio Rank: 47
CERY Calmar Ratio Rank: 48
CERY Martin Ratio Rank: 58

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.

FLYU vs. CERY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel 3X Leveraged ETNs (FLYU) 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.

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.

	FLYU	CERY	Difference
Sharpe ratio: Return per unit of total volatility	0.21	1.68	-1.47
Sortino ratio: Return per unit of downside risk	0.87	2.26	-1.39
Omega ratio: Gain probability vs. loss probability	1.10	1.29	-0.20
Calmar ratio: Return relative to maximum drawdown	0.31	2.31	-2.00
Martin ratio: Return relative to average drawdown	0.64	9.93	-9.29

FLYU vs. CERY - Sharpe Ratio Comparison

The current FLYU Sharpe Ratio is 0.21, which is lower than the CERY Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of FLYU 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.

Drawdowns

FLYU vs. CERY - Drawdown Comparison

The maximum FLYU drawdown since its inception was -69.00%, which is greater than CERY's maximum drawdown of -11.37%. Use the drawdown chart below to compare losses from any high point for FLYU and CERY.

Drawdown Indicators

	FLYU	CERY	Difference
Max Drawdown Largest peak-to-trough decline	-69.00%	-11.37%	-57.63%
Max Drawdown (1Y) Largest decline over 1 year	-52.33%	-11.37%	-40.96%
Max Drawdown (3Y) Largest decline over 3 years	-69.00%	—	—
Current Drawdown Current decline from peak	-30.05%	-11.37%	-18.68%
Average Drawdown Average peak-to-trough decline	-26.54%	-2.27%	-24.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.23%	2.83%	+22.40%

Volatility

FLYU vs. CERY - Volatility Comparison

MicroSectors Travel 3X Leveraged ETNs (FLYU) has a higher volatility of 23.71% compared to SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) at 3.57%. This indicates that FLYU'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.

Volatility by Period

	FLYU	CERY	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.71%	3.57%	+20.14%
Volatility (6M) Calculated over the trailing 6-month period	60.05%	13.57%	+46.48%
Volatility (1Y) Calculated over the trailing 1-year period	75.08%	15.63%	+59.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.26%	14.73%	+68.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.26%	14.73%	+68.53%

FLYU vs. CERY - Expense Ratio Comparison

FLYU has a 0.95% expense ratio, which is higher than CERY's 0.28% expense ratio.

Dividends

FLYU vs. CERY - Dividend Comparison

FLYU has not paid dividends to shareholders, while CERY's dividend yield for the trailing twelve months is around 4.18%.

Position	TTM	2025	2024
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	4.18%	4.99%	0.52%
FLYU MicroSectors Travel 3X Leveraged ETNs	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLYU and CERY in my portfolio?

FLYU and CERY have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLYU or CERY?

FLYU has higher volatility (23.71%) compared to CERY (3.57%). In terms of maximum drawdown, FLYU dropped -69.00% vs CERY's -11.37%.

Which ETF is better, FLYU or CERY?

On 1-year performance, CERY leads with 26.17% vs 16.01% for FLYU. On fees, CERY is cheaper at 0.28% per year. On volatility, CERY has been the lower-risk option at 3.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLYU or CERY?

Over the 1-year period, CERY has performed better with a 26.17% return vs 16.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLYU or CERY?

CERY is cheaper with a 0.28% expense ratio, compared with 0.95% for FLYU.

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

CERY has the higher dividend yield at 4.18%, compared with 0.00% for FLYU.

What is the main difference between FLYU and CERY?

FLYU is categorized as Leveraged Equities, while CERY is Commodities. FLYU tracks MerQube MicroSectors U.S. Travel Index, while CERY tracks Bloomberg Enhanced Roll Yield Total Return Index. They also come from different issuers: REX and State Street. Their fees differ too: 0.95% for FLYU and 0.28% for CERY.

Which has better risk-adjusted returns?

CERY currently has the higher Sharpe Ratio (1.68 vs 0.21), 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.