SIFI vs. CERY

Last updated Jun 23, 2026

SIFI (Harbor Scientific Alpha Income ETF) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both exchange-traded funds - SIFI is a Multisector Bonds fund actively managed by Harbor, while CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index. SIFI is actively managed, while CERY is passively managed. Over the past year, SIFI returned 6.64% vs 26.17% for CERY. At a correlation of -0.05, they often move in opposite directions. SIFI charges 0.50%/yr vs 0.28%/yr for CERY.

Performance

SIFI vs. CERY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Scientific Alpha Income ETF (SIFI) and SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIFI achieves a 1.26% return, which is significantly lower than CERY's 19.54% return.

SIFI

• 1D: -0.14%
• 1M: 0.47%
• YTD: 1.26%
• 6M: 1.63%
• 1Y: 6.64%
• 3Y*: 7.51%
• 5Y*: —
• 10Y*: —

CERY

• 1D: -0.67%
• 1M: -8.39%
• YTD: 19.54%
• 6M: 18.91%
• 1Y: 26.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SIFI vs. CERY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SIFI Harbor Scientific Alpha Income ETF	1.26%	8.83%	-0.41%
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	19.54%	15.68%	3.80%

Correlation

The correlation between SIFI and CERY is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	-0.05

Return for Risk

SIFI vs. CERY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SIFI

SIFI Risk / Return Rank: 62
SIFI Sharpe Ratio Rank: 62
SIFI Sortino Ratio Rank: 70
SIFI Omega Ratio Rank: 66
SIFI Calmar Ratio Rank: 51
SIFI Martin Ratio Rank: 59

CERY

CERY Risk / Return Rank: 50
CERY Sharpe Ratio Rank: 50
CERY Sortino Ratio Rank: 47
CERY Omega Ratio Rank: 47
CERY Calmar Ratio Rank: 48
CERY Martin Ratio Rank: 58

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SIFI vs. CERY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Scientific Alpha Income ETF (SIFI) 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.

	SIFI	CERY	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.68	+0.31
Sortino ratio: Return per unit of downside risk	3.06	2.26	+0.80
Omega ratio: Gain probability vs. loss probability	1.38	1.29	+0.09
Calmar ratio: Return relative to maximum drawdown	2.46	2.31	+0.14
Martin ratio: Return relative to average drawdown	10.05	9.93	+0.12

SIFI vs. CERY - Sharpe Ratio Comparison

The current SIFI Sharpe Ratio is 2.00, which is comparable to the CERY Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of SIFI and CERY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SIFI vs. CERY - Drawdown Comparison

The maximum SIFI drawdown since its inception was -14.68%, which is greater than CERY's maximum drawdown of -11.37%. Use the drawdown chart below to compare losses from any high point for SIFI and CERY.

Drawdown Indicators

	SIFI	CERY	Difference
Max Drawdown Largest peak-to-trough decline	-14.68%	-11.37%	-3.31%
Max Drawdown (1Y) Largest decline over 1 year	-2.71%	-11.37%	+8.66%
Max Drawdown (3Y) Largest decline over 3 years	-3.46%	—	—
Current Drawdown Current decline from peak	-0.27%	-11.37%	+11.10%
Average Drawdown Average peak-to-trough decline	-4.77%	-2.27%	-2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	2.83%	-2.17%

Volatility

SIFI vs. CERY - Volatility Comparison

The current volatility for Harbor Scientific Alpha Income ETF (SIFI) is 0.79%, while SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) has a volatility of 3.57%. This indicates that SIFI experiences smaller price fluctuations and is considered to be less risky than CERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIFI	CERY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.79%	3.57%	-2.78%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	13.57%	-11.08%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	15.63%	-12.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.92%	14.73%	-9.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.92%	14.73%	-9.81%

SIFI vs. CERY - Expense Ratio Comparison

SIFI has a 0.50% expense ratio, which is higher than CERY's 0.28% expense ratio.

Dividends

SIFI vs. CERY - Dividend Comparison

SIFI's dividend yield for the trailing twelve months is around 6.44%, more than CERY's 4.18% yield.

Position	TTM	2025	2024	2023	2022	2021
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF	4.18%	4.99%	0.52%	0.00%	0.00%	0.00%
SIFI Harbor Scientific Alpha Income ETF	6.44%	6.57%	5.87%	5.71%	3.88%	0.86%

Frequently Asked Questions

Can I hold both SIFI and CERY in my portfolio?

SIFI and CERY have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIFI or CERY?

CERY has higher volatility (3.57%) compared to SIFI (0.79%). In terms of maximum drawdown, SIFI dropped -14.68% vs CERY's -11.37%.

Which ETF is better, SIFI or CERY?

On 1-year performance, CERY leads with 26.17% vs 6.64% for SIFI. On fees, CERY is cheaper at 0.28% per year. On volatility, SIFI has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIFI or CERY?

Over the 1-year period, CERY has performed better with a 26.17% return vs 6.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIFI or CERY?

CERY is cheaper with a 0.28% expense ratio, compared with 0.50% for SIFI.

Which ETF pays a higher dividend yield, SIFI or CERY?

SIFI has the higher dividend yield at 6.44%, compared with 4.18% for CERY.

What is the main difference between SIFI and CERY?

SIFI is categorized as Multisector Bonds, while CERY is Commodities. They also come from different issuers: Harbor and State Street. Their fees differ too: 0.50% for SIFI and 0.28% for CERY.

Which has better risk-adjusted returns?

SIFI currently has the higher Sharpe Ratio (2.00 vs 1.68), 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.