VCMDX vs. BCI

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI).

VCMDX is managed by Vanguard. It was launched on Jun 25, 2019. BCI is an actively managed fund by Aberdeen. It was launched on Mar 30, 2017.

Performance

VCMDX vs. BCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI). The values are adjusted to include any dividend payments, if applicable.

VCMDX vs. BCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VCMDX Vanguard Commodity Strategy Fund Admiral Shares	18.30%	18.20%	5.27%	-7.45%	13.83%	34.82%	5.07%	2.74%
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	24.37%	15.07%	5.47%	-8.79%	15.09%	26.18%	-2.77%	1.98%

Returns By Period

In the year-to-date period, VCMDX achieves a 18.30% return, which is significantly lower than BCI's 24.37% return.

VCMDX

• 1D: 0.39%
• 1M: 6.43%
• YTD: 18.30%
• 6M: 24.60%
• 1Y: 26.59%
• 3Y*: 12.12%
• 5Y*: 14.20%
• 10Y*: —

BCI

• 1D: 0.04%
• 1M: 11.37%
• YTD: 24.37%
• 6M: 31.23%
• 1Y: 31.71%
• 3Y*: 13.50%
• 5Y*: 13.31%
• 10Y*: —

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

VCMDX vs. BCI - Expense Ratio Comparison

VCMDX has a 0.20% expense ratio, which is lower than BCI's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

BCI

abrdn Bloomberg All Commodity Strategy K-1 Free ETF

VCMDX

Vanguard Commodity Strategy Fund Admiral Shares

Return for Risk

VCMDX vs. BCI — Risk / Return Rank

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

VCMDX

VCMDX Risk / Return Rank: 88
VCMDX Sharpe Ratio Rank: 88
VCMDX Sortino Ratio Rank: 86
VCMDX Omega Ratio Rank: 83
VCMDX Calmar Ratio Rank: 94
VCMDX Martin Ratio Rank: 88

BCI

BCI Risk / Return Rank: 89
BCI Sharpe Ratio Rank: 89
BCI Sortino Ratio Rank: 89
BCI Omega Ratio Rank: 87
BCI Calmar Ratio Rank: 94
BCI Martin Ratio Rank: 86

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.

VCMDX vs. BCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI). 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.

	VCMDX	BCI	Difference
Sharpe ratio Return per unit of total volatility	1.76	1.87	-0.10
Sortino ratio Return per unit of downside risk	2.25	2.46	-0.21
Omega ratio Gain probability vs. loss probability	1.33	1.35	-0.02
Calmar ratio Return relative to maximum drawdown	3.10	3.52	-0.42
Martin ratio Return relative to average drawdown	9.46	9.71	-0.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCMDX vs. BCI - Sharpe Ratio Comparison

The current VCMDX Sharpe Ratio is 1.76, which is comparable to the BCI Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of VCMDX and BCI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VCMDX	BCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	1.87	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.80	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.48	+0.36

Correlation

The correlation between VCMDX and BCI is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VCMDX vs. BCI - Dividend Comparison

VCMDX's dividend yield for the trailing twelve months is around 12.86%, less than BCI's 13.26% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCMDX Vanguard Commodity Strategy Fund Admiral Shares	12.86%	15.21%	2.19%	2.50%	14.21%	30.56%	0.50%	0.60%	0.00%	0.00%
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF	13.26%	16.49%	3.29%	3.93%	19.98%	19.43%	0.68%	1.47%	1.13%	5.02%

Drawdowns

VCMDX vs. BCI - Drawdown Comparison

The maximum VCMDX drawdown since its inception was -26.67%, smaller than the maximum BCI drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for VCMDX and BCI.

Drawdown Indicators

	VCMDX	BCI	Difference
Max Drawdown Largest peak-to-trough decline	-26.67%	-32.69%	+6.02%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-9.28%	+0.36%
Max Drawdown (5Y) Largest decline over 5 years	-25.45%	-26.50%	+1.05%
Current Drawdown Current decline from peak	-1.31%	0.00%	-1.31%
Average Drawdown Average peak-to-trough decline	-11.10%	-12.19%	+1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	3.37%	-0.44%

Volatility

VCMDX vs. BCI - Volatility Comparison

The current volatility for Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) is 5.98%, while abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) has a volatility of 7.07%. This indicates that VCMDX experiences smaller price fluctuations and is considered to be less risky than BCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCMDX	BCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.98%	7.07%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	12.19%	13.57%	-1.38%
Volatility (1Y) Calculated over the trailing 1-year period	15.62%	17.09%	-1.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.81%	16.63%	-0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.40%	15.57%	-0.17%