INQQ vs. CERY
INQQ (India Internet & Ecommerce ETF) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both exchange-traded funds - INQQ is a Asia Pacific Equities fund tracking the INQQ The India Internet & Ecommerce Index - Benchmark TR Gross, while CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index. Both are passively managed. Over the past year, INQQ returned -18.83% vs 27.40% for CERY. At a correlation of -0.08, they often move in opposite directions. INQQ charges 0.86%/yr vs 0.28%/yr for CERY.
Performance
INQQ vs. CERY - Performance Comparison
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Returns By Period
In the year-to-date period, INQQ achieves a -13.94% return, which is significantly lower than CERY's 18.11% return.
INQQ
- 1D
- -1.65%
- 1M
- 3.88%
- YTD
- -13.94%
- 6M
- -15.10%
- 1Y
- -18.83%
- 3Y*
- 3.36%
- 5Y*
- —
- 10Y*
- —
CERY
- 1D
- -1.20%
- 1M
- -9.49%
- YTD
- 18.11%
- 6M
- 16.37%
- 1Y
- 27.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
INQQ vs. CERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
INQQ India Internet & Ecommerce ETF | -13.94% | -7.05% | 1.93% |
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 18.11% | 15.68% | 3.80% |
Correlation
The correlation between INQQ 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 INQQ 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
INQQ vs. CERY — Risk / Return Rank
INQQ
CERY
INQQ vs. CERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for India Internet & Ecommerce ETF (INQQ) 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.
| INQQ | CERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.83 | ||
| Sortino ratioReturn per unit of downside risk | -3.87 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.31 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.62 | 2.21 | -2.83 |
| Martin ratioReturn relative to average drawdown | -1.24 | 10.02 | -11.26 |
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Drawdowns
INQQ vs. CERY - Drawdown Comparison
The maximum INQQ drawdown since its inception was -40.53%, which is greater than CERY's maximum drawdown of -12.44%. Use the drawdown chart below to compare losses from any high point for INQQ and CERY.
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Drawdown Indicators
| INQQ | CERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.53% | -12.44% | -28.09% |
Max Drawdown (1Y)Largest decline over 1 year | -30.41% | -12.44% | -17.97% |
Max Drawdown (3Y)Largest decline over 3 years | -32.45% | — | — |
Current DrawdownCurrent decline from peak | -24.27% | -12.44% | -11.83% |
Average DrawdownAverage peak-to-trough decline | -17.15% | -2.29% | -14.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.24% | 2.76% | +12.48% |
Volatility
INQQ vs. CERY - Volatility Comparison
India Internet & Ecommerce ETF (INQQ) has a higher volatility of 5.53% compared to SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) at 3.64%. This indicates that INQQ'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
| INQQ | CERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.53% | 3.64% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 15.10% | 13.63% | +1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.89% | 15.66% | +2.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.98% | 14.74% | +5.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.98% | 14.74% | +5.24% |
INQQ vs. CERY - Expense Ratio Comparison
INQQ has a 0.86% expense ratio, which is higher than CERY's 0.28% expense ratio.
Dividends
INQQ vs. CERY - Dividend Comparison
INQQ's dividend yield for the trailing twelve months is around 2.59%, less than CERY's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 4.23% | 4.99% | 0.52% | 0.00% |
INQQ India Internet & Ecommerce ETF | 2.59% | 2.23% | 1.18% | 0.04% |
Frequently Asked Questions
INQQ 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.
INQQ has higher volatility (5.53%) compared to CERY (3.64%). In terms of maximum drawdown, INQQ dropped -40.53% vs CERY's -12.44%.
On 1-year performance, CERY leads with 27.40% vs -18.83% for INQQ. On fees, CERY is cheaper at 0.28% per year. On volatility, CERY has been the lower-risk option at 3.64%. 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 27.40% return vs -18.83%. 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 0.86% for INQQ.
CERY has the higher dividend yield at 4.23%, compared with 2.59% for INQQ.
INQQ is categorized as Asia Pacific Equities, while CERY is Commodities. INQQ tracks INQQ The India Internet & Ecommerce Index - Benchmark TR Gross, while CERY tracks Bloomberg Enhanced Roll Yield Total Return Index. They also come from different issuers: India and State Street. Their fees differ too: 0.86% for INQQ and 0.28% for CERY.
CERY currently has the higher Sharpe Ratio (1.78 vs -1.06), 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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