JPHY vs. CERY
JPHY (JPMorgan High Yield Research Enhanced ETF) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both exchange-traded funds - JPHY is a High Yield Bonds fund actively managed by JPMorgan, while CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index. JPHY is actively managed, while CERY is passively managed. Over the past year, JPHY returned 6.37% vs 26.93% for CERY. At a correlation of -0.06, they often move in opposite directions. JPHY charges 0.24%/yr vs 0.28%/yr for CERY.
Performance
JPHY vs. CERY - Performance Comparison
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Returns By Period
In the year-to-date period, JPHY achieves a 2.22% return, which is significantly lower than CERY's 15.55% return.
JPHY
- 1D
- -0.03%
- 1M
- 0.45%
- YTD
- 2.22%
- 6M
- 2.19%
- 1Y
- 6.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CERY
- 1D
- -2.16%
- 1M
- -11.45%
- YTD
- 15.55%
- 6M
- 13.60%
- 1Y
- 26.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JPHY vs. CERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JPHY JPMorgan High Yield Research Enhanced ETF | 2.22% | 4.06% |
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 15.55% | 9.84% |
Correlation
The correlation between JPHY and CERY is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025 | -0.06 |
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Return for Risk
JPHY vs. CERY — Risk / Return Rank
JPHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CERY
JPHY vs. CERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan High Yield Research Enhanced ETF (JPHY) 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.
| JPHY | CERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.89 | — |
| Martin ratioReturn relative to average drawdown | — | 9.35 | — |
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Drawdowns
JPHY vs. CERY - Drawdown Comparison
The maximum JPHY drawdown since its inception was -1.65%, smaller than the maximum CERY drawdown of -14.33%. Use the drawdown chart below to compare losses from any high point for JPHY and CERY.
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Drawdown Indicators
| JPHY | CERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.65% | -14.33% | +12.68% |
Max Drawdown (1Y)Largest decline over 1 year | -1.65% | -14.33% | +12.68% |
Current DrawdownCurrent decline from peak | -0.15% | -14.33% | +14.18% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -2.32% | +2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.89% | — |
Volatility
JPHY vs. CERY - Volatility Comparison
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Volatility by Period
| JPHY | CERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.01% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 13.81% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.01% | 15.66% | -12.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.01% | 14.82% | -11.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.01% | 14.82% | -11.81% |
JPHY vs. CERY - Expense Ratio Comparison
JPHY has a 0.24% expense ratio, which is lower than CERY's 0.28% expense ratio.
Dividends
JPHY vs. CERY - Dividend Comparison
JPHY's dividend yield for the trailing twelve months is around 5.91%, more than CERY's 4.32% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 4.32% | 4.99% | 0.52% |
JPHY JPMorgan High Yield Research Enhanced ETF | 5.91% | 3.32% | 0.00% |
Frequently Asked Questions
JPHY and CERY have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On 1-year performance, CERY leads with 26.93% vs 6.37% for JPHY. On fees, JPHY is cheaper at 0.24% per year. 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 26.93% return vs 6.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPHY is cheaper with a 0.24% expense ratio, compared with 0.28% for CERY.
JPHY has the higher dividend yield at 5.91%, compared with 4.32% for CERY.
JPHY is categorized as High Yield Bonds, while CERY is Commodities. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.24% for JPHY and 0.28% for CERY.
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