KCE vs. BCD
KCE (SPDR S&P Capital Markets ETF) and BCD (abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF) are both exchange-traded funds - KCE is a Financials Equities fund tracking the S&P Capital Markets Select Industry Index, while BCD is a Commodities fund actively managed by Aberdeen. KCE is passively managed, while BCD is actively managed. Over the past 5 years, KCE returned 12.91%/yr vs 11.03%/yr for BCD. At a 0.20 correlation, their price movements are largely independent. KCE charges 0.35%/yr vs 0.29%/yr for BCD.
Performance
KCE vs. BCD - Performance Comparison
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Returns By Period
In the year-to-date period, KCE achieves a 3.75% return, which is significantly lower than BCD's 12.69% return.
KCE
- 1D
- -0.09%
- 1M
- 1.69%
- YTD
- 3.75%
- 6M
- 1.86%
- 1Y
- 14.65%
- 3Y*
- 25.85%
- 5Y*
- 12.91%
- 10Y*
- 18.10%
BCD
- 1D
- -0.37%
- 1M
- -6.61%
- YTD
- 12.69%
- 6M
- 12.67%
- 1Y
- 18.46%
- 3Y*
- 11.12%
- 5Y*
- 11.03%
- 10Y*
- —
KCE vs. BCD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KCE SPDR S&P Capital Markets ETF | 3.75% | 10.76% | 37.51% | 32.04% | -22.14% | 40.05% | 30.82% | 27.13% | -15.63% | 25.98% |
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 12.69% | 15.71% | 6.20% | -7.58% | 18.38% | 31.87% | 4.76% | 7.34% | -8.65% | 3.83% |
Correlation
The correlation between KCE and BCD is -0.01, 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 (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2017 | 0.20 |
The correlation between KCE and BCD shifts across timeframes, from -0.01 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KCE vs. BCD — Risk / Return Rank
KCE
BCD
KCE vs. BCD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Capital Markets ETF (KCE) and abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD). 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.
| KCE | BCD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.24 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 1.89 | -1.05 |
| Martin ratioReturn relative to average drawdown | 2.19 | 6.83 | -4.64 |
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Drawdowns
KCE vs. BCD - Drawdown Comparison
The maximum KCE drawdown since its inception was -74.00%, which is greater than BCD's maximum drawdown of -29.81%. Use the drawdown chart below to compare losses from any high point for KCE and BCD.
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Drawdown Indicators
| KCE | BCD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.00% | -29.81% | -44.19% |
Max Drawdown (1Y)Largest decline over 1 year | -17.44% | -9.80% | -7.64% |
Max Drawdown (3Y)Largest decline over 3 years | -26.31% | -10.50% | -15.81% |
Max Drawdown (5Y)Largest decline over 5 years | -34.45% | -23.03% | -11.42% |
Max Drawdown (10Y)Largest decline over 10 years | -40.78% | — | — |
Current DrawdownCurrent decline from peak | -3.67% | -9.80% | +6.13% |
Average DrawdownAverage peak-to-trough decline | -22.76% | -9.84% | -12.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.71% | 3.00% | +3.71% |
Volatility
KCE vs. BCD - Volatility Comparison
SPDR S&P Capital Markets ETF (KCE) has a higher volatility of 5.60% compared to abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) at 3.18%. This indicates that KCE's price experiences larger fluctuations and is considered to be riskier than BCD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KCE | BCD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 3.18% | +2.42% |
Volatility (6M)Calculated over the trailing 6-month period | 15.28% | 11.93% | +3.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.98% | 13.95% | +6.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.05% | 15.37% | +7.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.09% | 13.90% | +9.19% |
KCE vs. BCD - Expense Ratio Comparison
KCE has a 0.35% expense ratio, which is higher than BCD's 0.29% expense ratio.
Dividends
KCE vs. BCD - Dividend Comparison
KCE's dividend yield for the trailing twelve months is around 2.13%, less than BCD's 15.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 15.27% | 17.21% | 3.60% | 4.51% | 5.21% | 8.30% | 1.29% | 1.55% | 1.59% | 0.07% | 0.00% | 0.00% |
KCE SPDR S&P Capital Markets ETF | 2.13% | 1.63% | 1.56% | 1.82% | 2.42% | 1.53% | 2.20% | 2.32% | 2.67% | 1.95% | 2.30% | 2.43% |
Frequently Asked Questions
KCE and BCD have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KCE has higher volatility (5.60%) compared to BCD (3.18%). In terms of maximum drawdown, KCE dropped -74.00% vs BCD's -29.81%.
On 5-year performance, KCE leads with 12.91% vs 11.03% for BCD. On fees, BCD is cheaper at 0.29% per year. On volatility, BCD has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KCE has performed better with a 12.91% return vs 11.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BCD is cheaper with a 0.29% expense ratio, compared with 0.35% for KCE.
BCD has the higher dividend yield at 15.27%, compared with 2.13% for KCE.
KCE is categorized as Financials Equities, while BCD is Commodities. They also come from different issuers: State Street and Aberdeen. Their fees differ too: 0.35% for KCE and 0.29% for BCD.
BCD currently has the higher Sharpe Ratio (1.33 vs 0.74), 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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