SPSB vs. CERY
SPSB (SPDR Portfolio Short Term Corporate Bond ETF) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both exchange-traded funds - SPSB is a Corporate Bonds fund tracking the Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index, while CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index. Both are passively managed. Over the past year, SPSB returned 3.98% vs 26.17% for CERY. At a correlation of -0.07, they often move in opposite directions. SPSB charges 0.07%/yr vs 0.28%/yr for CERY.
Performance
SPSB vs. CERY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPSB achieves a 0.87% return, which is significantly lower than CERY's 19.54% return.
SPSB
- 1D
- -0.10%
- 1M
- 0.16%
- YTD
- 0.87%
- 6M
- 1.04%
- 1Y
- 3.98%
- 3Y*
- 5.31%
- 5Y*
- 2.73%
- 10Y*
- 2.60%
CERY
- 1D
- -0.67%
- 1M
- -8.39%
- YTD
- 19.54%
- 6M
- 18.91%
- 1Y
- 26.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPSB vs. CERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 0.87% | 5.86% | 0.87% |
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 19.54% | 15.68% | 3.80% |
Correlation
The correlation between SPSB and CERY is -0.16, 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 | -0.16 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | -0.07 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPSB vs. CERY — Risk / Return Rank
SPSB
CERY
SPSB vs. CERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) 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.
| SPSB | CERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.29 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 4.58 | 2.31 | +2.27 |
| Martin ratioReturn relative to average drawdown | 21.10 | 9.93 | +11.18 |
Loading charts...
Drawdowns
SPSB vs. CERY - Drawdown Comparison
The maximum SPSB drawdown since its inception was -11.75%, roughly equal to the maximum CERY drawdown of -11.37%. Use the drawdown chart below to compare losses from any high point for SPSB and CERY.
Loading charts...
Drawdown Indicators
| SPSB | CERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.75% | -11.37% | -0.38% |
Max Drawdown (1Y)Largest decline over 1 year | -0.87% | -11.37% | +10.50% |
Max Drawdown (3Y)Largest decline over 3 years | -0.87% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -5.96% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -11.75% | — | — |
Current DrawdownCurrent decline from peak | -0.20% | -11.37% | +11.17% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -2.27% | +1.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 2.83% | -2.64% |
Volatility
SPSB vs. CERY - Volatility Comparison
The current volatility for SPDR Portfolio Short Term Corporate Bond ETF (SPSB) is 0.48%, while SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) has a volatility of 3.57%. This indicates that SPSB 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.
Loading charts...
Volatility by Period
| SPSB | CERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 3.57% | -3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 1.01% | 13.57% | -12.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.37% | 15.63% | -14.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.99% | 14.73% | -12.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.06% | 14.73% | -11.67% |
SPSB vs. CERY - Expense Ratio Comparison
SPSB has a 0.07% expense ratio, which is lower than CERY's 0.28% expense ratio.
Dividends
SPSB vs. CERY - Dividend Comparison
SPSB's dividend yield for the trailing twelve months is around 4.41%, more than CERY's 4.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 4.18% | 4.99% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPSB SPDR Portfolio Short Term Corporate Bond ETF | 4.41% | 4.55% | 4.85% | 4.05% | 1.92% | 1.19% | 1.94% | 2.77% | 2.36% | 1.94% | 1.65% | 1.43% |
Frequently Asked Questions
SPSB and CERY have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CERY has higher volatility (3.57%) compared to SPSB (0.48%). In terms of maximum drawdown, SPSB dropped -11.75% vs CERY's -11.37%.
On 1-year performance, CERY leads with 26.17% vs 3.98% for SPSB. On fees, SPSB is cheaper at 0.07% per year. On volatility, SPSB has been the lower-risk option at 0.48%. 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 26.17% return vs 3.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPSB is cheaper with a 0.07% expense ratio, compared with 0.28% for CERY.
SPSB has the higher dividend yield at 4.41%, compared with 4.18% for CERY.
SPSB is categorized as Corporate Bonds, while CERY is Commodities. SPSB tracks Bloomberg Barclays U.S. 1-3 Year Corporate Bond Index, while CERY tracks Bloomberg Enhanced Roll Yield Total Return Index. Their fees differ too: 0.07% for SPSB and 0.28% for CERY.
SPSB currently has the higher Sharpe Ratio (2.93 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.
Find the right allocation for SPSB and CERY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer