INVG vs. CMDY
INVG (GMO Systematic Investment Grade Credit ETF) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both exchange-traded funds - INVG is a Corporate Bonds fund actively managed by GMO, while CMDY is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. INVG is actively managed, while CMDY is passively managed. Over the past year, INVG returned 5.61% vs 35.71% for CMDY. At a correlation of -0.26, they often move in opposite directions. INVG charges 0.25%/yr vs 0.28%/yr for CMDY.
Performance
INVG vs. CMDY - Performance Comparison
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Returns By Period
In the year-to-date period, INVG achieves a 0.87% return, which is significantly lower than CMDY's 24.16% return.
INVG
- 1D
- 0.19%
- 1M
- 0.65%
- YTD
- 0.87%
- 6M
- 0.74%
- 1Y
- 5.61%
- 3Y*
- —
- 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*
- —
INVG vs. CMDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
INVG GMO Systematic Investment Grade Credit ETF | 0.87% | 4.69% |
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 24.16% | 9.30% |
Correlation
The correlation between INVG and CMDY is -0.26, 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 (All Time) Calculated using the full available price history since Jun 5, 2025 | -0.26 |
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Return for Risk
INVG vs. CMDY — Risk / Return Rank
INVG
CMDY
INVG vs. CMDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GMO Systematic Investment Grade Credit ETF (INVG) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| INVG | CMDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.23 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.28 | 0.55 | +0.73 |
Drawdowns
INVG vs. CMDY - Drawdown Comparison
The maximum INVG drawdown since its inception was -3.15%, smaller than the maximum CMDY drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for INVG and CMDY.
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Drawdown Indicators
| INVG | CMDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.15% | -31.19% | +28.04% |
Max Drawdown (1Y)Largest decline over 1 year | -3.15% | -7.73% | +4.58% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.08% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.56% | — |
Current DrawdownCurrent decline from peak | -0.69% | -4.95% | +4.26% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -13.14% | +12.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.58% | — |
Volatility
INVG vs. CMDY - Volatility Comparison
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Volatility by Period
| INVG | CMDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.11% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 14.25% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.42% | 16.10% | -11.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.42% | 15.80% | -11.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 14.63% | -10.21% |
INVG vs. CMDY - Expense Ratio Comparison
INVG has a 0.25% expense ratio, which is lower than CMDY's 0.28% expense ratio.
Dividends
INVG vs. CMDY - Dividend Comparison
INVG's dividend yield for the trailing twelve months is around 4.67%, 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% |
INVG GMO Systematic Investment Grade Credit ETF | 4.67% | 2.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
INVG and CMDY have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On 1-year performance, CMDY leads with 35.71% vs 5.61% for INVG. On fees, INVG is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CMDY has performed better with a 35.71% return vs 5.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
INVG is cheaper with a 0.25% expense ratio, compared with 0.28% for CMDY.
CMDY has the higher dividend yield at 10.38%, compared with 4.67% for INVG.
INVG is categorized as Corporate Bonds, while CMDY is Commodities. They also come from different issuers: GMO and iShares. Their fees differ too: 0.25% for INVG and 0.28% for CMDY.
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