GCC vs. CERY

Last updated Jun 4, 2026

GCC (WisdomTree Enhanced Commodity Strategy Fund) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both Commodities funds. GCC is actively managed, while CERY is passively managed. Over the past year, GCC returned 37.16% vs 44.30% for CERY. Their correlation of 0.86 suggests significant overlap in exposure. GCC charges 0.55%/yr vs 0.28%/yr for CERY.

Performance

GCC vs. CERY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Enhanced Commodity Strategy Fund (GCC) 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, GCC achieves a 18.63% return, which is significantly lower than CERY's 29.88% return.

GCC

• 1D: -0.48%
• 1M: -1.53%
• YTD: 18.63%
• 6M: 21.66%
• 1Y: 37.16%
• 3Y*: 19.03%
• 5Y*: 11.48%
• 10Y*: 6.84%

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)

GCC vs. CERY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GCC WisdomTree Enhanced Commodity Strategy Fund	18.63%	20.01%	7.39%
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	29.88%	15.68%	3.92%

Correlation

The correlation between GCC 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	0.86

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

Return for Risk

GCC vs. CERY — Risk / Return Rank

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

GCC

GCC Risk / Return Rank: 67
GCC Sharpe Ratio Rank: 67
GCC Sortino Ratio Rank: 56
GCC Omega Ratio Rank: 69
GCC Calmar Ratio Rank: 73
GCC Martin Ratio Rank: 71

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.

GCC vs. CERY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Enhanced Commodity Strategy Fund (GCC) 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.

	GCC	CERY	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.90	-0.65
Sortino ratio: Return per unit of downside risk	2.72	3.66	-0.94
Omega ratio: Gain probability vs. loss probability	1.42	1.51	-0.09
Calmar ratio: Return relative to maximum drawdown	3.64	6.38	-2.74
Martin ratio: Return relative to average drawdown	13.42	20.66	-7.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GCC vs. CERY - Sharpe Ratio Comparison

The current GCC Sharpe Ratio is 2.24, which is comparable to the CERY Sharpe Ratio of 2.90. The chart below compares the historical Sharpe Ratios of GCC 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

	GCC	CERY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	2.90	-0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	2.00	-1.92

Drawdowns

GCC vs. CERY - Drawdown Comparison

The maximum GCC drawdown since its inception was -63.19%, which is greater than CERY's maximum drawdown of -10.05%. Use the drawdown chart below to compare losses from any high point for GCC and CERY.

Drawdown Indicators

	GCC	CERY	Difference
Max Drawdown Largest peak-to-trough decline	-63.19%	-10.05%	-53.14%
Max Drawdown (1Y) Largest decline over 1 year	-10.25%	-6.98%	-3.27%
Max Drawdown (3Y) Largest decline over 3 years	-11.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.07%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.93%	—	—
Current Drawdown Current decline from peak	-5.29%	-3.71%	-1.58%
Average Drawdown Average peak-to-trough decline	-34.91%	-2.11%	-32.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.15%	+0.63%

Volatility

GCC vs. CERY - Volatility Comparison

The current volatility for WisdomTree Enhanced Commodity Strategy Fund (GCC) is 4.53%, while SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) has a volatility of 4.94%. This indicates that GCC 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

	GCC	CERY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	4.94%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	14.76%	13.29%	+1.47%
Volatility (1Y) Calculated over the trailing 1-year period	16.63%	15.37%	+1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.93%	14.71%	+2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.77%	14.71%	+0.06%

GCC vs. CERY - Expense Ratio Comparison

GCC has a 0.55% expense ratio, which is higher than CERY's 0.28% expense ratio.

Dividends

GCC vs. CERY - Dividend Comparison

GCC's dividend yield for the trailing twelve months is around 5.60%, more than CERY's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	3.85%	4.99%	0.52%	0.00%	0.00%	0.00%
GCC WisdomTree Enhanced Commodity Strategy Fund	5.60%	6.64%	3.51%	3.68%	22.49%	9.76%

Frequently Asked Questions

Can I hold both GCC and CERY in my portfolio?

GCC 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, GCC or CERY?

CERY has higher volatility (4.94%) compared to GCC (4.53%). In terms of maximum drawdown, GCC dropped -63.19% vs CERY's -10.05%.

Which ETF is better, GCC or CERY?

On 1-year performance, CERY leads with 44.30% vs 37.16% for GCC. On fees, CERY is cheaper at 0.28% per year. On volatility, GCC has been the lower-risk option at 4.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GCC or CERY?

Over the 1-year period, CERY has performed better with a 44.30% return vs 37.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GCC or CERY?

CERY is cheaper with a 0.28% expense ratio, compared with 0.55% for GCC.

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

GCC has the higher dividend yield at 5.60%, compared with 3.85% for CERY.

What is the main difference between GCC and CERY?

They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.55% for GCC and 0.28% for CERY.

Which has better risk-adjusted returns?

CERY currently has the higher Sharpe Ratio (2.90 vs 2.24), 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.