IBDX vs. CERY
IBDX (iShares iBonds Dec 2032 Term Corporate ETF) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both exchange-traded funds - IBDX is a Corporate Bonds fund tracking the Bloomberg December 2032 Maturity Corporate Index, while CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index. Both are passively managed. Over the past year, IBDX returned 5.05% vs 26.17% for CERY. At a correlation of -0.09, they often move in opposite directions. IBDX charges 0.10%/yr vs 0.28%/yr for CERY.
Performance
IBDX vs. CERY - Performance Comparison
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Returns By Period
In the year-to-date period, IBDX achieves a 0.12% return, which is significantly lower than CERY's 19.54% return.
IBDX
- 1D
- -0.14%
- 1M
- 0.32%
- YTD
- 0.12%
- 6M
- 0.36%
- 1Y
- 5.05%
- 3Y*
- 5.70%
- 5Y*
- —
- 10Y*
- —
CERY
- 1D
- -0.67%
- 1M
- -8.39%
- YTD
- 19.54%
- 6M
- 18.91%
- 1Y
- 26.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBDX vs. CERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBDX iShares iBonds Dec 2032 Term Corporate ETF | 0.12% | 9.05% | -1.98% |
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 19.54% | 15.68% | 3.80% |
Correlation
The correlation between IBDX and CERY is -0.21, 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 | -0.21 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | -0.09 |
The correlation between IBDX and CERY shifts across timeframes, from -0.21 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBDX vs. CERY — Risk / Return Rank
IBDX
CERY
IBDX vs. CERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2032 Term Corporate ETF (IBDX) 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.
| IBDX | CERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.29 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 2.31 | -0.48 |
| Martin ratioReturn relative to average drawdown | 5.60 | 9.93 | -4.33 |
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Drawdowns
IBDX vs. CERY - Drawdown Comparison
The maximum IBDX drawdown since its inception was -12.51%, which is greater than CERY's maximum drawdown of -11.37%. Use the drawdown chart below to compare losses from any high point for IBDX and CERY.
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Drawdown Indicators
| IBDX | CERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.51% | -11.37% | -1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -11.37% | +8.61% |
Max Drawdown (3Y)Largest decline over 3 years | -7.09% | — | — |
Current DrawdownCurrent decline from peak | -1.47% | -11.37% | +9.90% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -2.27% | -0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 2.83% | -1.93% |
Volatility
IBDX vs. CERY - Volatility Comparison
The current volatility for iShares iBonds Dec 2032 Term Corporate ETF (IBDX) is 1.24%, while SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) has a volatility of 3.57%. This indicates that IBDX 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.
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Volatility by Period
| IBDX | CERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 3.57% | -2.33% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 13.57% | -10.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 15.63% | -11.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.43% | 14.73% | -7.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.43% | 14.73% | -7.30% |
IBDX vs. CERY - Expense Ratio Comparison
IBDX has a 0.10% expense ratio, which is lower than CERY's 0.28% expense ratio.
Dividends
IBDX vs. CERY - Dividend Comparison
IBDX's dividend yield for the trailing twelve months is around 4.83%, more than CERY's 4.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 4.18% | 4.99% | 0.52% | 0.00% | 0.00% |
IBDX iShares iBonds Dec 2032 Term Corporate ETF | 4.83% | 4.81% | 5.02% | 4.59% | 2.39% |
Frequently Asked Questions
IBDX and CERY have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CERY has higher volatility (3.57%) compared to IBDX (1.24%). In terms of maximum drawdown, IBDX dropped -12.51% vs CERY's -11.37%.
On 1-year performance, CERY leads with 26.17% vs 5.05% for IBDX. On fees, IBDX is cheaper at 0.10% per year. On volatility, IBDX has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CERY has performed better with a 26.17% return vs 5.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBDX is cheaper with a 0.10% expense ratio, compared with 0.28% for CERY.
IBDX has the higher dividend yield at 4.83%, compared with 4.18% for CERY.
IBDX is categorized as Corporate Bonds, while CERY is Commodities. IBDX tracks Bloomberg December 2032 Maturity Corporate Index, while CERY tracks Bloomberg Enhanced Roll Yield Total Return Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.10% for IBDX and 0.28% for CERY.
CERY currently has the higher Sharpe Ratio (1.68 vs 1.32), 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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