INCO vs. CERY
INCO (Columbia India Consumer ETF) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both exchange-traded funds - INCO is a Asia Pacific Equities fund tracking the Indxx India Consumer Index, while CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index. Both are passively managed. Over the past year, INCO returned -5.19% vs 26.17% for CERY. At a correlation of -0.08, they often move in opposite directions. INCO charges 0.75%/yr vs 0.28%/yr for CERY.
Performance
INCO vs. CERY - Performance Comparison
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Returns By Period
In the year-to-date period, INCO achieves a -7.34% return, which is significantly lower than CERY's 19.54% return.
INCO
- 1D
- 0.36%
- 1M
- 3.89%
- YTD
- -7.34%
- 6M
- -7.14%
- 1Y
- -5.19%
- 3Y*
- 8.08%
- 5Y*
- 7.03%
- 10Y*
- 9.09%
CERY
- 1D
- -0.67%
- 1M
- -8.39%
- YTD
- 19.54%
- 6M
- 18.91%
- 1Y
- 26.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
INCO vs. CERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
INCO Columbia India Consumer ETF | -7.34% | 0.59% | -10.73% |
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 19.54% | 15.68% | 3.80% |
Correlation
The correlation between INCO 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 | -0.08 |
The correlation between INCO and CERY shifts across timeframes, from -0.21 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
INCO vs. CERY — Risk / Return Rank
INCO
CERY
INCO vs. CERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia India Consumer ETF (INCO) 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.
| INCO | CERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.60 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.29 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 2.31 | -2.56 |
| Martin ratioReturn relative to average drawdown | -0.59 | 9.93 | -10.51 |
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Drawdowns
INCO vs. CERY - Drawdown Comparison
The maximum INCO drawdown since its inception was -47.69%, which is greater than CERY's maximum drawdown of -11.37%. Use the drawdown chart below to compare losses from any high point for INCO and CERY.
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Drawdown Indicators
| INCO | CERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.69% | -11.37% | -36.32% |
Max Drawdown (1Y)Largest decline over 1 year | -21.37% | -11.37% | -10.00% |
Max Drawdown (3Y)Largest decline over 3 years | -29.98% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.69% | — | — |
Current DrawdownCurrent decline from peak | -21.09% | -11.37% | -9.72% |
Average DrawdownAverage peak-to-trough decline | -10.61% | -2.27% | -8.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.84% | 2.83% | +6.01% |
Volatility
INCO vs. CERY - Volatility Comparison
Columbia India Consumer ETF (INCO) has a higher volatility of 4.93% compared to SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) at 3.57%. This indicates that INCO'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.
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Volatility by Period
| INCO | CERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | 3.57% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 14.49% | 13.57% | +0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.01% | 15.63% | +1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.97% | 14.73% | +2.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.33% | 14.73% | +5.60% |
INCO vs. CERY - Expense Ratio Comparison
INCO has a 0.75% expense ratio, which is higher than CERY's 0.28% expense ratio.
Dividends
INCO vs. CERY - Dividend Comparison
INCO has not paid dividends to shareholders, while CERY's dividend yield for the trailing twelve months is around 4.18%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 4.18% | 4.99% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
INCO Columbia India Consumer ETF | 0.00% | 0.00% | 2.88% | 3.81% | 10.57% | 6.25% | 0.34% | 0.28% | 0.12% | 0.05% | 0.09% |
Frequently Asked Questions
INCO 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.
INCO has higher volatility (4.93%) compared to CERY (3.57%). In terms of maximum drawdown, INCO dropped -47.69% vs CERY's -11.37%.
On 1-year performance, CERY leads with 26.17% vs -5.19% for INCO. 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.
Over the 1-year period, CERY has performed better with a 26.17% return vs -5.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CERY is cheaper with a 0.28% expense ratio, compared with 0.75% for INCO.
CERY has the higher dividend yield at 4.18%, compared with 0.00% for INCO.
INCO is categorized as Asia Pacific Equities, while CERY is Commodities. INCO tracks Indxx India Consumer Index, while CERY tracks Bloomberg Enhanced Roll Yield Total Return Index. They also come from different issuers: Ameriprise Financial and State Street. Their fees differ too: 0.75% for INCO and 0.28% for CERY.
CERY currently has the higher Sharpe Ratio (1.68 vs -0.31), 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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