KCSH vs. CMDY
KCSH (KraneShares Sustainable Ultra Short Duration Index ETF) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both exchange-traded funds - KCSH is a Ultrashort Bond fund tracking the Solactive ISS Sustainable Select 0-1 Year USD Corporate IG Index, while CMDY is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past year, KCSH returned 3.93% vs 26.42% for CMDY. At a correlation of -0.05, they often move in opposite directions. KCSH charges 0.20%/yr vs 0.28%/yr for CMDY.
Performance
KCSH vs. CMDY - Performance Comparison
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Returns By Period
In the year-to-date period, KCSH achieves a 1.86% return, which is significantly lower than CMDY's 18.46% return.
KCSH
- 1D
- 0.12%
- 1M
- 0.29%
- 6M
- 1.70%
- YTD
- 1.86%
- 1Y
- 3.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CMDY
- 1D
- 1.44%
- 1M
- -0.24%
- 6M
- 13.95%
- YTD
- 18.46%
- 1Y
- 26.42%
- 3Y*
- 11.74%
- 5Y*
- 9.47%
- 10Y*
- —
KCSH vs. CMDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KCSH KraneShares Sustainable Ultra Short Duration Index ETF | 1.86% | 4.49% | 1.98% |
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 18.46% | 15.81% | 3.63% |
Correlation
The correlation between KCSH and CMDY is -0.15, 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 | -0.15 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2024 | -0.05 |
The correlation between KCSH and CMDY shifts across timeframes, from -0.15 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KCSH vs. CMDY — Risk / Return Rank
KCSH
CMDY
KCSH vs. CMDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Sustainable Ultra Short Duration Index ETF (KCSH) 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.
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.
| KCSH | CMDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.54 | ||
| Sortino ratioReturn per unit of downside risk | +2.32 | ||
| Omega ratioGain probability vs. loss probability | 2.06 | 1.29 | +0.77 |
| Calmar ratioReturn relative to maximum drawdown | 6.78 | 1.87 | +4.91 |
| Martin ratioReturn relative to average drawdown | 56.99 | 6.38 | +50.61 |
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Drawdowns
KCSH vs. CMDY - Drawdown Comparison
The maximum KCSH drawdown since its inception was -0.58%, smaller than the maximum CMDY drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for KCSH and CMDY.
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Drawdown Indicators
| KCSH | CMDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.58% | -31.19% | +30.61% |
Max Drawdown (1Y)Largest decline over 1 year | -0.58% | -14.23% | +13.65% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.23% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.56% | — |
Current DrawdownCurrent decline from peak | 0.00% | -9.31% | +9.31% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -13.10% | +13.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 4.15% | -4.08% |
Volatility
KCSH vs. CMDY - Volatility Comparison
The current volatility for KraneShares Sustainable Ultra Short Duration Index ETF (KCSH) is 0.21%, while iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) has a volatility of 4.48%. This indicates that KCSH experiences smaller price fluctuations and is considered to be less risky than CMDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KCSH | CMDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 4.48% | -4.27% |
Volatility (6M)Calculated over the trailing 6-month period | 0.44% | 14.41% | -13.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.25% | 16.52% | -15.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.30% | 15.81% | -14.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.30% | 14.65% | -13.35% |
KCSH vs. CMDY - Expense Ratio Comparison
KCSH has a 0.20% expense ratio, which is lower than CMDY's 0.28% expense ratio.
Dividends
KCSH vs. CMDY - Dividend Comparison
KCSH's dividend yield for the trailing twelve months is around 3.94%, less than CMDY's 10.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 10.88% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% |
KCSH KraneShares Sustainable Ultra Short Duration Index ETF | 3.94% | 4.35% | 2.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KCSH and CMDY have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMDY has higher volatility (4.48%) compared to KCSH (0.21%). In terms of maximum drawdown, KCSH dropped -0.58% vs CMDY's -31.19%.
On 1-year performance, CMDY leads with 26.42% vs 3.93% for KCSH. On fees, KCSH is cheaper at 0.20% per year. On volatility, KCSH has been the lower-risk option at 0.21%. 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 26.42% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KCSH is cheaper with a 0.20% expense ratio, compared with 0.28% for CMDY.
CMDY has the higher dividend yield at 10.88%, compared with 3.94% for KCSH.
KCSH is categorized as Ultrashort Bond, while CMDY is Commodities. KCSH tracks Solactive ISS Sustainable Select 0-1 Year USD Corporate IG Index, while CMDY tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: KraneShares and iShares. Their fees differ too: 0.20% for KCSH and 0.28% for CMDY.
KCSH currently has the higher Sharpe Ratio (3.15 vs 1.61), 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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