UCIB vs. CMDY
UCIB (ETRACS CMCI Total Return ETN Series B) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both Commodities funds - UCIB tracks the UBS Bloomberg CMCI Index while CMDY tracks the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 5 years, UCIB returned 12.32%/yr vs 10.49%/yr for CMDY. A 0.67 correlation means they provide meaningful diversification when combined. UCIB charges 0.55%/yr vs 0.28%/yr for CMDY.
Performance
UCIB vs. CMDY - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with UCIB having a 23.71% return and CMDY slightly higher at 24.16%.
UCIB
- 1D
- 2.52%
- 1M
- 0.75%
- YTD
- 23.71%
- 6M
- 24.60%
- 1Y
- 32.69%
- 3Y*
- 14.28%
- 5Y*
- 12.32%
- 10Y*
- 10.57%
CMDY
- 1D
- -1.01%
- 1M
- -3.07%
- YTD
- 24.16%
- 6M
- 23.07%
- 1Y
- 35.71%
- 3Y*
- 15.11%
- 5Y*
- 10.49%
- 10Y*
- —
UCIB vs. CMDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UCIB ETRACS CMCI Total Return ETN Series B | 23.71% | 8.97% | 6.58% | -2.26% | 18.24% | 37.34% | 1.10% | 10.86% | -12.08% |
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 24.16% | 15.81% | 5.43% | -9.33% | 14.55% | 26.38% | 1.15% | 4.96% | -11.11% |
Correlation
The correlation between UCIB and CMDY is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2018 | 0.67 |
The correlation between UCIB and CMDY shifts across timeframes, from 0.55 (3 years) to 0.75 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UCIB vs. CMDY — Risk / Return Rank
UCIB
CMDY
UCIB vs. CMDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS CMCI Total Return ETN Series B (UCIB) 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.
| UCIB | CMDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.40 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 4.64 | -2.53 |
| Martin ratioReturn relative to average drawdown | 7.10 | 13.86 | -6.76 |
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
| UCIB | CMDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | 2.23 | -1.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.67 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.55 | -0.16 |
Drawdowns
UCIB vs. CMDY - Drawdown Comparison
The maximum UCIB drawdown since its inception was -36.94%, which is greater than CMDY's maximum drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for UCIB and CMDY.
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Drawdown Indicators
| UCIB | CMDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.94% | -31.19% | -5.75% |
Max Drawdown (1Y)Largest decline over 1 year | -15.53% | -7.73% | -7.80% |
Max Drawdown (3Y)Largest decline over 3 years | -16.18% | -10.08% | -6.10% |
Max Drawdown (5Y)Largest decline over 5 years | -20.95% | -26.56% | +5.61% |
Max Drawdown (10Y)Largest decline over 10 years | -36.94% | — | — |
Current DrawdownCurrent decline from peak | -13.40% | -4.95% | -8.45% |
Average DrawdownAverage peak-to-trough decline | -9.06% | -13.14% | +4.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.62% | 2.58% | +2.04% |
Volatility
UCIB vs. CMDY - Volatility Comparison
ETRACS CMCI Total Return ETN Series B (UCIB) has a higher volatility of 16.26% compared to iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) at 5.11%. This indicates that UCIB's price experiences larger fluctuations and is considered to be riskier 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
| UCIB | CMDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.26% | 5.11% | +11.15% |
Volatility (6M)Calculated over the trailing 6-month period | 31.13% | 14.25% | +16.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.80% | 16.10% | +15.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.76% | 15.80% | +10.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.23% | 14.63% | +8.60% |
UCIB vs. CMDY - Expense Ratio Comparison
UCIB has a 0.55% expense ratio, which is higher than CMDY's 0.28% expense ratio.
Dividends
UCIB vs. CMDY - Dividend Comparison
UCIB has not paid dividends to shareholders, while CMDY's dividend yield for the trailing twelve months is around 10.38%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 10.38% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% |
UCIB ETRACS CMCI Total Return ETN Series B | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UCIB and CMDY have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCIB has higher volatility (16.26%) compared to CMDY (5.11%). In terms of maximum drawdown, UCIB dropped -36.94% vs CMDY's -31.19%.
On 5-year performance, UCIB leads with 12.32% vs 10.49% for CMDY. On fees, CMDY is cheaper at 0.28% per year. On volatility, CMDY has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UCIB has performed better with a 12.32% return vs 10.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CMDY is cheaper with a 0.28% expense ratio, compared with 0.55% for UCIB.
CMDY has the higher dividend yield at 10.38%, compared with 0.00% for UCIB.
UCIB tracks UBS Bloomberg CMCI Index, while CMDY tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.55% for UCIB and 0.28% for CMDY.
CMDY currently has the higher Sharpe Ratio (2.23 vs 1.03), 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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