UCIB vs. CERY
UCIB (ETRACS CMCI Total Return ETN Series B) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both Commodities funds - UCIB tracks the UBS Bloomberg CMCI Index while CERY tracks the Bloomberg Enhanced Roll Yield Total Return Index. Both are passively managed. Over the past year, UCIB returned 32.01% vs 36.13% for CERY. Their 0.54 correlation means they have sometimes moved together and sometimes differently. UCIB charges 0.55%/yr vs 0.28%/yr for CERY.
Performance
UCIB vs. CERY - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with UCIB having a 23.75% return and CERY slightly higher at 24.20%.
UCIB
- 1D
- 0.00%
- 1M
- 6.70%
- 6M
- 20.34%
- YTD
- 23.75%
- 1Y
- 32.01%
- 3Y*
- 11.45%
- 5Y*
- 12.44%
- 10Y*
- 10.54%
- ALL TIME*
- 4.77%
CERY
- 1D
- -1.39%
- 1M
- 6.29%
- 6M
- 17.22%
- YTD
- 24.20%
- 1Y
- 36.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 23.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.83M | $9.95M | $6.88M | |
| $582.36K | $305.70K | $123.29K |
UCIB vs. CERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UCIB ETRACS CMCI Total Return ETN Series B | 23.75% | 8.97% | 6.05% |
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 24.20% | 15.68% | 3.80% |
Correlation
The correlation between UCIB and CERY is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | 0.54 |
The correlation between UCIB and CERY shifts across timeframes, from 0.54 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UCIB vs. CERY — Risk / Return Rank
UCIB
CERY
UCIB vs. CERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS CMCI Total Return ETN Series B (UCIB) 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.
| UCIB | CERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.38 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | 2.53 | -1.11 |
| Martin ratioReturn relative to average drawdown | 4.13 | 8.67 | -4.54 |
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Drawdowns
UCIB vs. CERY - Drawdown Comparison
The maximum UCIB drawdown since its inception was -51.29%, which is greater than CERY's maximum drawdown of -14.33%. Use the drawdown chart below to compare losses from any high point for UCIB and CERY.
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Drawdown Indicators
| UCIB | CERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.29% | -14.33% | -36.96% |
Max Drawdown (1Y)Largest decline over 1 year | -22.67% | -14.33% | -8.34% |
Max Drawdown (3Y)Largest decline over 3 years | -22.67% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -36.94% | — | — |
Current DrawdownCurrent decline from peak | -13.37% | -7.92% | -5.45% |
Average DrawdownAverage peak-to-trough decline | -20.97% | -2.70% | -18.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.77% | 4.18% | +3.59% |
Volatility
UCIB vs. CERY - Volatility Comparison
ETRACS CMCI Total Return ETN Series B (UCIB) has a higher volatility of 22.90% compared to SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) at 5.32%. This indicates that UCIB's price experiences larger fluctuations and is considered to be riskier than CERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCIB | CERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.90% | 5.32% | +17.58% |
Volatility (6M)Calculated over the trailing 6-month period | 36.85% | 13.28% | +23.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.64% | 16.26% | +23.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.70% | 14.96% | +13.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.45% | 14.96% | +9.49% |
UCIB vs. CERY - Expense Ratio Comparison
UCIB has a 0.55% expense ratio, which is higher than CERY's 0.28% expense ratio.
Dividends
UCIB vs. CERY - Dividend Comparison
UCIB has not paid dividends to shareholders, while CERY's dividend yield for the trailing twelve months is around 4.02%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 4.02% | 4.99% | 0.52% |
UCIB ETRACS CMCI Total Return ETN Series B | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UCIB and CERY have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCIB has higher volatility (22.90%) compared to CERY (5.32%). In terms of maximum drawdown, UCIB dropped -51.29% vs CERY's -14.33%.
On 1-year performance, CERY leads with 36.13% vs 32.01% for UCIB. On fees, CERY is cheaper at 0.28% per year. On volatility, CERY has been the lower-risk option at 5.32%. 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 36.13% return vs 32.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CERY is cheaper with a 0.28% expense ratio, compared with 0.55% for UCIB.
CERY has the higher dividend yield at 4.02%, compared with 0.00% for UCIB.
UCIB tracks UBS Bloomberg CMCI Index, while CERY tracks Bloomberg Enhanced Roll Yield Total Return Index. They also come from different issuers: UBS and State Street. Their fees differ too: 0.55% for UCIB and 0.28% for CERY.
CERY currently has the higher Sharpe Ratio (2.24 vs 0.81), 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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