VSHY vs. CMDY
VSHY (Virtus Newfleet Short Duration High Yield Bond ETF) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both exchange-traded funds - VSHY is a High Yield Bonds fund actively managed by Virtus, while CMDY is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. VSHY is actively managed, while CMDY is passively managed. Over the past year, VSHY returned 6.20% vs 24.63% for CMDY. At a 0.06 correlation, their price movements are largely independent. VSHY charges 0.40%/yr vs 0.28%/yr for CMDY.
Performance
VSHY vs. CMDY - Performance Comparison
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Returns By Period
In the year-to-date period, VSHY achieves a 2.46% return, which is significantly lower than CMDY's 16.78% return.
VSHY
- 1D
- -0.18%
- 1M
- 0.11%
- 6M
- 2.01%
- YTD
- 2.46%
- 1Y
- 6.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CMDY
- 1D
- -0.07%
- 1M
- -1.66%
- 6M
- 14.34%
- YTD
- 16.78%
- 1Y
- 24.63%
- 3Y*
- 11.79%
- 5Y*
- 9.43%
- 10Y*
- —
VSHY vs. CMDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VSHY Virtus Newfleet Short Duration High Yield Bond ETF | 2.46% | 6.87% | 8.03% | 3.76% |
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 16.78% | 15.81% | 5.43% | -1.73% |
Correlation
The correlation between VSHY and CMDY is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2023 | 0.06 |
The correlation between VSHY and CMDY shifts across timeframes, from -0.10 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VSHY vs. CMDY — Risk / Return Rank
VSHY
CMDY
VSHY vs. CMDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Newfleet Short Duration High Yield Bond ETF (VSHY) 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.
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.
| VSHY | CMDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.28 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 1.81 | +1.62 |
| Martin ratioReturn relative to average drawdown | 12.84 | 6.24 | +6.60 |
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Drawdowns
VSHY vs. CMDY - Drawdown Comparison
The maximum VSHY drawdown since its inception was -4.55%, smaller than the maximum CMDY drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for VSHY and CMDY.
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Drawdown Indicators
| VSHY | CMDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.55% | -31.19% | +26.64% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -14.23% | +12.50% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.23% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.56% | — |
Current DrawdownCurrent decline from peak | -0.23% | -10.60% | +10.37% |
Average DrawdownAverage peak-to-trough decline | -0.41% | -13.11% | +12.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 4.11% | -3.65% |
Volatility
VSHY vs. CMDY - Volatility Comparison
The current volatility for Virtus Newfleet Short Duration High Yield Bond ETF (VSHY) is 0.98%, while iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) has a volatility of 4.20%. This indicates that VSHY experiences smaller price fluctuations and is considered to be less risky 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
| VSHY | CMDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 4.20% | -3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 14.35% | -11.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 16.45% | -13.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.36% | 15.80% | -11.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.36% | 14.65% | -10.29% |
VSHY vs. CMDY - Expense Ratio Comparison
VSHY has a 0.40% expense ratio, which is higher than CMDY's 0.28% expense ratio.
Dividends
VSHY vs. CMDY - Dividend Comparison
VSHY's dividend yield for the trailing twelve months is around 6.35%, less than CMDY's 11.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF | 11.04% | 12.89% | 4.23% | 5.10% | 3.98% | 16.09% | 0.15% | 2.21% | 1.73% |
VSHY Virtus Newfleet Short Duration High Yield Bond ETF | 6.35% | 6.14% | 6.81% | 1.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VSHY and CMDY have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMDY has higher volatility (4.20%) compared to VSHY (0.98%). In terms of maximum drawdown, VSHY dropped -4.55% vs CMDY's -31.19%.
On 1-year performance, CMDY leads with 24.63% vs 6.20% for VSHY. On fees, CMDY is cheaper at 0.28% per year. On volatility, VSHY has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CMDY has performed better with a 24.63% return vs 6.20%. 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 0.40% for VSHY.
CMDY has the higher dividend yield at 11.04%, compared with 6.35% for VSHY.
VSHY is categorized as High Yield Bonds, while CMDY is Commodities. They also come from different issuers: Virtus and iShares. Their fees differ too: 0.40% for VSHY and 0.28% for CMDY.
VSHY currently has the higher Sharpe Ratio (1.74 vs 1.56), 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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