IBMR vs. CMDY
IBMR (iShares iBonds Dec 2029 Term Muni Bond ETF) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both exchange-traded funds - IBMR is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted 2029 Index, while CMDY is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 3 years, IBMR returned 3.43%/yr vs 15.11%/yr for CMDY. At a correlation of -0.01, they often move in opposite directions. IBMR charges 0.18%/yr vs 0.28%/yr for CMDY.
Performance
IBMR vs. CMDY - Performance Comparison
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Returns By Period
In the year-to-date period, IBMR achieves a 0.73% return, which is significantly lower than CMDY's 24.16% return.
IBMR
- 1D
- 0.08%
- 1M
- 0.29%
- YTD
- 0.73%
- 6M
- 1.13%
- 1Y
- 3.88%
- 3Y*
- 3.43%
- 5Y*
- —
- 10Y*
- —
CMDY
- 1D
- -1.01%
- 1M
- -3.07%
- YTD
- 24.16%
- 6M
- 23.07%
- 1Y
- 35.71%
- 3Y*
- 15.11%
- 5Y*
- 10.49%
- 10Y*
- —
IBMR vs. CMDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF | 0.73% | 4.45% | 0.06% | 3.46% |
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 24.16% | 15.81% | 5.43% | -0.35% |
Correlation
The correlation between IBMR and CMDY 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 (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 12, 2023 | -0.01 |
The correlation between IBMR and CMDY shifts across timeframes, from -0.19 (1 year) to -0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBMR vs. CMDY — Risk / Return Rank
IBMR
CMDY
IBMR vs. CMDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) 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.
| IBMR | CMDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.40 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 4.64 | -2.13 |
| Martin ratioReturn relative to average drawdown | 6.65 | 13.86 | -7.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBMR | CMDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.23 | 2.23 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.93 | 0.55 | +0.38 |
Drawdowns
IBMR vs. CMDY - Drawdown Comparison
The maximum IBMR drawdown since its inception was -4.83%, smaller than the maximum CMDY drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for IBMR and CMDY.
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Drawdown Indicators
| IBMR | CMDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.83% | -31.19% | +26.36% |
Max Drawdown (1Y)Largest decline over 1 year | -1.55% | -7.73% | +6.18% |
Max Drawdown (3Y)Largest decline over 3 years | -4.72% | -10.08% | +5.36% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.56% | — |
Current DrawdownCurrent decline from peak | -0.66% | -4.95% | +4.29% |
Average DrawdownAverage peak-to-trough decline | -1.02% | -13.14% | +12.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 2.58% | -1.99% |
Volatility
IBMR vs. CMDY - Volatility Comparison
The current volatility for iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR) is 0.45%, while iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) has a volatility of 5.11%. This indicates that IBMR experiences smaller price fluctuations and is considered to be less risky than CMDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBMR | CMDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.45% | 5.11% | -4.66% |
Volatility (6M)Calculated over the trailing 6-month period | 1.14% | 14.25% | -13.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.75% | 16.10% | -14.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.07% | 15.80% | -12.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.07% | 14.63% | -11.56% |
IBMR vs. CMDY - Expense Ratio Comparison
IBMR has a 0.18% expense ratio, which is lower than CMDY's 0.28% expense ratio.
Dividends
IBMR vs. CMDY - Dividend Comparison
IBMR's dividend yield for the trailing twelve months is around 2.55%, less than CMDY's 10.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 10.38% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% |
IBMR iShares iBonds Dec 2029 Term Muni Bond ETF | 2.55% | 2.55% | 2.53% | 1.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBMR and CMDY 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.
CMDY has higher volatility (5.11%) compared to IBMR (0.45%). In terms of maximum drawdown, IBMR dropped -4.83% vs CMDY's -31.19%.
On 3-year performance, CMDY leads with 15.11% vs 3.43% for IBMR. On fees, IBMR is cheaper at 0.18% per year. On volatility, IBMR has been the lower-risk option at 0.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CMDY has performed better with a 15.11% return vs 3.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBMR is cheaper with a 0.18% expense ratio, compared with 0.28% for CMDY.
CMDY has the higher dividend yield at 10.38%, compared with 2.55% for IBMR.
IBMR is categorized as Municipal Bonds, while CMDY is Commodities. IBMR tracks S&P AMT-Free Municipal Series Callable-Adjusted 2029 Index, while CMDY tracks Bloomberg Roll Select Commodity Total Return Index. Their fees differ too: 0.18% for IBMR and 0.28% for CMDY.
CMDY currently has the higher Sharpe Ratio (2.23 vs 2.23), 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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