XAR vs. BCI
XAR (SPDR S&P Aerospace & Defense ETF) and BCI (abrdn Bloomberg All Commodity Strategy K-1 Free ETF) are both exchange-traded funds - XAR is a Aerospace & Defense fund tracking the S&P Aerospace & Defense Select Industry Index, while BCI is a Commodities fund tracking the Bloomberg Commodity Index Total Return. Both are passively managed. Over the past 5 years, XAR returned 16.54%/yr vs 9.82%/yr for BCI. At a 0.21 correlation, their price movements are largely independent. XAR charges 0.35%/yr vs 0.26%/yr for BCI.
Performance
XAR vs. BCI - Performance Comparison
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Returns By Period
In the year-to-date period, XAR achieves a 15.26% return, which is significantly lower than BCI's 16.69% return.
XAR
- 1D
- -2.24%
- 1M
- 2.49%
- YTD
- 15.26%
- 6M
- 11.31%
- 1Y
- 40.45%
- 3Y*
- 33.82%
- 5Y*
- 16.54%
- 10Y*
- 18.54%
BCI
- 1D
- -0.65%
- 1M
- -8.66%
- YTD
- 16.69%
- 6M
- 16.52%
- 1Y
- 22.05%
- 3Y*
- 11.86%
- 5Y*
- 9.82%
- 10Y*
- —
XAR vs. BCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XAR SPDR S&P Aerospace & Defense ETF | 15.26% | 46.15% | 23.32% | 23.79% | -5.02% | 2.31% | 6.18% | 39.33% | -4.58% | 25.37% |
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 16.69% | 15.07% | 5.47% | -8.79% | 15.09% | 26.18% | -2.77% | 7.06% | -11.21% | 3.81% |
Correlation
The correlation between XAR and BCI is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2017 | 0.21 |
The correlation between XAR and BCI shifts across timeframes, from -0.01 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XAR vs. BCI — Risk / Return Rank
XAR
BCI
XAR vs. BCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Aerospace & Defense ETF (XAR) 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.
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.
| XAR | BCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 1.84 | +0.52 |
| Martin ratioReturn relative to average drawdown | 6.60 | 6.82 | -0.22 |
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Drawdowns
XAR vs. BCI - Drawdown Comparison
The maximum XAR drawdown since its inception was -46.37%, which is greater than BCI's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for XAR and BCI.
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Drawdown Indicators
| XAR | BCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.37% | -32.69% | -13.68% |
Max Drawdown (1Y)Largest decline over 1 year | -17.22% | -12.04% | -5.18% |
Max Drawdown (3Y)Largest decline over 3 years | -19.73% | -12.04% | -7.69% |
Max Drawdown (5Y)Largest decline over 5 years | -32.40% | -26.50% | -5.90% |
Max Drawdown (10Y)Largest decline over 10 years | -46.37% | — | — |
Current DrawdownCurrent decline from peak | -5.02% | -12.04% | +7.02% |
Average DrawdownAverage peak-to-trough decline | -6.78% | -11.98% | +5.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.15% | 3.56% | +2.59% |
Volatility
XAR vs. BCI - Volatility Comparison
SPDR S&P Aerospace & Defense ETF (XAR) has a higher volatility of 10.60% compared to abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) at 3.49%. This indicates that XAR's price experiences larger fluctuations and is considered to be riskier than BCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XAR | BCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.60% | 3.49% | +7.11% |
Volatility (6M)Calculated over the trailing 6-month period | 23.50% | 14.94% | +8.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.02% | 17.18% | +10.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.69% | 16.79% | +6.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.77% | 15.65% | +9.12% |
XAR vs. BCI - Expense Ratio Comparison
XAR has a 0.35% expense ratio, which is higher than BCI's 0.26% expense ratio.
Dividends
XAR vs. BCI - Dividend Comparison
XAR's dividend yield for the trailing twelve months is around 0.34%, less than BCI's 14.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 14.13% | 16.49% | 3.29% | 3.93% | 19.98% | 19.43% | 0.68% | 1.47% | 1.13% | 5.02% | 0.00% | 0.00% |
XAR SPDR S&P Aerospace & Defense ETF | 0.34% | 0.40% | 0.66% | 0.54% | 0.50% | 0.83% | 0.63% | 0.75% | 1.19% | 0.76% | 1.09% | 2.31% |
Frequently Asked Questions
XAR and BCI have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XAR has higher volatility (10.60%) compared to BCI (3.49%). In terms of maximum drawdown, XAR dropped -46.37% vs BCI's -32.69%.
On 5-year performance, XAR leads with 16.54% vs 9.82% for BCI. On fees, BCI is cheaper at 0.26% per year. On volatility, BCI has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XAR has performed better with a 16.54% return vs 9.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BCI is cheaper with a 0.26% expense ratio, compared with 0.35% for XAR.
BCI has the higher dividend yield at 14.13%, compared with 0.34% for XAR.
XAR is categorized as Aerospace & Defense, while BCI is Commodities. XAR tracks S&P Aerospace & Defense Select Industry Index, while BCI tracks Bloomberg Commodity Index Total Return. They also come from different issuers: State Street and Aberdeen. Their fees differ too: 0.35% for XAR and 0.26% for BCI.
XAR currently has the higher Sharpe Ratio (1.45 vs 1.29), 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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