MEAR vs. CMDY
MEAR (iShares Short Maturity Municipal Bond ETF) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both exchange-traded funds - MEAR is a Municipal Bonds fund actively managed by iShares, while CMDY is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. MEAR is actively managed, while CMDY is passively managed. Over the past 5 years, MEAR returned 2.43%/yr vs 10.71%/yr for CMDY. At a correlation of -0.02, they often move in opposite directions. MEAR charges 0.25%/yr vs 0.28%/yr for CMDY.
Performance
MEAR vs. CMDY - Performance Comparison
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Returns By Period
In the year-to-date period, MEAR achieves a 1.06% return, which is significantly lower than CMDY's 25.44% return.
MEAR
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 1.06%
- 6M
- 1.30%
- 1Y
- 3.29%
- 3Y*
- 3.58%
- 5Y*
- 2.43%
- 10Y*
- 1.78%
CMDY
- 1D
- 0.02%
- 1M
- -2.52%
- YTD
- 25.44%
- 6M
- 24.53%
- 1Y
- 37.10%
- 3Y*
- 15.48%
- 5Y*
- 10.71%
- 10Y*
- —
MEAR vs. CMDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MEAR iShares Short Maturity Municipal Bond ETF | 1.06% | 3.76% | 3.40% | 3.93% | 0.10% | 0.05% | 1.18% | 1.91% | 1.49% |
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 25.44% | 15.81% | 5.43% | -9.33% | 14.55% | 26.38% | 1.15% | 4.96% | -11.11% |
Correlation
The correlation between MEAR and CMDY is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2018 | -0.02 |
Over the past year, the inverse relationship between MEAR and CMDY has strengthened: their correlation has moved from -0.02 to -0.25, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
MEAR vs. CMDY — Risk / Return Rank
MEAR
CMDY
MEAR vs. CMDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Maturity Municipal Bond ETF (MEAR) 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.
| MEAR | CMDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.54 | ||
| Sortino ratioReturn per unit of downside risk | +3.26 | ||
| Omega ratioGain probability vs. loss probability | 1.91 | 1.42 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 7.07 | 4.82 | +2.24 |
| Martin ratioReturn relative to average drawdown | 28.99 | 14.50 | +14.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MEAR | CMDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.86 | 2.32 | +1.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.48 | 0.68 | +1.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.18 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.11 | 0.56 | +0.55 |
Drawdowns
MEAR vs. CMDY - Drawdown Comparison
The maximum MEAR drawdown since its inception was -2.68%, smaller than the maximum CMDY drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for MEAR and CMDY.
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Drawdown Indicators
| MEAR | CMDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.68% | -31.19% | +28.51% |
Max Drawdown (1Y)Largest decline over 1 year | -0.47% | -7.73% | +7.26% |
Max Drawdown (3Y)Largest decline over 3 years | -0.86% | -10.08% | +9.22% |
Max Drawdown (5Y)Largest decline over 5 years | -1.12% | -26.56% | +25.44% |
Max Drawdown (10Y)Largest decline over 10 years | -2.68% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.97% | +3.97% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -13.14% | +12.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 2.57% | -2.46% |
Volatility
MEAR vs. CMDY - Volatility Comparison
The current volatility for iShares Short Maturity Municipal Bond ETF (MEAR) is 0.24%, while iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) has a volatility of 5.04%. This indicates that MEAR 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
| MEAR | CMDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.24% | 5.04% | -4.80% |
Volatility (6M)Calculated over the trailing 6-month period | 0.61% | 14.20% | -13.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.86% | 16.06% | -15.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.98% | 15.80% | -14.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.52% | 14.63% | -13.11% |
MEAR vs. CMDY - Expense Ratio Comparison
MEAR has a 0.25% expense ratio, which is lower than CMDY's 0.28% expense ratio.
Dividends
MEAR vs. CMDY - Dividend Comparison
MEAR's dividend yield for the trailing twelve months is around 2.84%, less than CMDY's 10.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 10.28% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% | 0.00% | 0.00% | 0.00% |
MEAR iShares Short Maturity Municipal Bond ETF | 2.84% | 2.95% | 3.44% | 3.30% | 0.88% | 0.30% | 0.90% | 1.57% | 1.36% | 1.01% | 0.81% | 0.53% |
Frequently Asked Questions
MEAR and CMDY have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMDY has higher volatility (5.04%) compared to MEAR (0.24%). In terms of maximum drawdown, MEAR dropped -2.68% vs CMDY's -31.19%.
On 5-year performance, CMDY leads with 10.71% vs 2.43% for MEAR. On fees, MEAR is cheaper at 0.25% per year. On volatility, MEAR has been the lower-risk option at 0.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CMDY has performed better with a 10.71% return vs 2.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MEAR is cheaper with a 0.25% expense ratio, compared with 0.28% for CMDY.
CMDY has the higher dividend yield at 10.28%, compared with 2.84% for MEAR.
MEAR is categorized as Municipal Bonds, while CMDY is Commodities. Their fees differ too: 0.25% for MEAR and 0.28% for CMDY.
MEAR currently has the higher Sharpe Ratio (3.86 vs 2.32), 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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