FYHTX vs. CMDY
FYHTX (Fidelity Commodity Strategy Fund) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both Commodities funds - FYHTX tracks the Bloomberg Commodity Total Return Index while CMDY tracks the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 5 years, FYHTX returned 8.69%/yr vs 9.67%/yr for CMDY. Their correlation of 0.92 means they have usually moved in the same direction. FYHTX charges 0.63%/yr vs 0.28%/yr for CMDY.
Performance
FYHTX vs. CMDY - Performance Comparison
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Returns By Period
In the year-to-date period, FYHTX achieves a 16.43% return, which is significantly lower than CMDY's 20.84% return.
FYHTX
- 1D
- -0.24%
- 1M
- 5.38%
- 6M
- 7.21%
- YTD
- 16.43%
- 1Y
- 28.32%
- 3Y*
- 9.46%
- 5Y*
- 8.69%
- 10Y*
- —
- ALL TIME*
- 6.58%
CMDY
- 1D
- -0.08%
- 1M
- 6.88%
- 6M
- 9.23%
- YTD
- 20.84%
- 1Y
- 32.95%
- 3Y*
- 11.76%
- 5Y*
- 9.67%
- 10Y*
- —
- ALL TIME*
- 7.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.68M | $2.92M | $4.03M | |
| $0.00 | $0.00 | $0.00 |
FYHTX vs. CMDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FYHTX Fidelity Commodity Strategy Fund | 16.43% | 14.72% | 4.73% | -8.62% | 15.32% | 26.43% | -3.84% | 6.91% | -10.44% |
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 20.84% | 15.81% | 5.43% | -9.33% | 14.55% | 26.38% | 1.15% | 4.96% | -11.13% |
Correlation
The correlation between FYHTX and CMDY is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018 | 0.92 |
The correlation between FYHTX and CMDY has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
FYHTX vs. CMDY — Risk / Return Rank
FYHTX
CMDY
FYHTX vs. CMDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Commodity Strategy Fund (FYHTX) and iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY). 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.
| FYHTX | CMDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.34 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.29 | -0.11 |
| Martin ratioReturn relative to average drawdown | 7.07 | 7.40 | -0.33 |
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Drawdowns
FYHTX vs. CMDY - Drawdown Comparison
The maximum FYHTX drawdown since its inception was -33.22%, which is greater than CMDY's maximum drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for FYHTX and CMDY.
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Drawdown Indicators
| FYHTX | CMDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.22% | -31.19% | -2.03% |
Max Drawdown (1Y)Largest decline over 1 year | -12.55% | -14.23% | +1.68% |
Max Drawdown (3Y)Largest decline over 3 years | -12.55% | -14.23% | +1.68% |
Max Drawdown (5Y)Largest decline over 5 years | -25.47% | -26.56% | +1.09% |
Current DrawdownCurrent decline from peak | -6.78% | -7.49% | +0.71% |
Average DrawdownAverage peak-to-trough decline | -11.87% | -13.07% | +1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.95% | 4.40% | -0.45% |
Volatility
FYHTX vs. CMDY - Volatility Comparison
Fidelity Commodity Strategy Fund (FYHTX) and iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) have volatilities of 4.00% and 4.00%, 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
| FYHTX | CMDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.00% | 4.00% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 11.80% | 14.20% | -2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.41% | 16.59% | -2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.80% | 15.75% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.47% | 14.64% | -0.17% |
FYHTX vs. CMDY - Expense Ratio Comparison
FYHTX has a 0.63% expense ratio, which is higher than CMDY's 0.28% expense ratio.
Dividends
FYHTX vs. CMDY - Dividend Comparison
FYHTX's dividend yield for the trailing twelve months is around 2.52%, less than CMDY's 10.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 10.67% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% | 0.00% |
FYHTX Fidelity Commodity Strategy Fund | 2.52% | 2.93% | 3.78% | 4.10% | 57.34% | 15.05% | 0.00% | 7.00% | 12.49% | 0.36% |
Frequently Asked Questions
With a correlation of 0.96, FYHTX and CMDY 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.
CMDY has higher volatility (4.00%) compared to FYHTX (4.00%). In terms of maximum drawdown, FYHTX dropped -33.22% vs CMDY's -31.19%.
CMDY currently has the higher Sharpe Ratio (1.97 vs 1.92), 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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