What Is the CMDY ETF? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The iShares Bloomberg Roll Select Commodity Strategy ETF is an actively managed fund that invests in broad commodity futures, giving investors exposure to the commodity market and an inflation hedge. Commodity volatility, fees, and the industry outlook are the key points to check, and comparing it with other commodity ETFs is the main selection criterion. Its ticker is CMDY.
SubscribeWhat Is the iShares Bloomberg Roll Select Commodity Strategy ETF?
This is an actively managed commodity ETF that invests in a commodity futures index spanning energy, metals, and agricultural products. It applies a maturity selection method that reduces rollover costs, providing exposure to commodities broadly at a relatively low fee.
It suits investors who want exposure to broad commodities along with an inflation hedge and diversification, and who are willing to accept commodity volatility.
It is an ETF run with an active management approach by iShares.
How Does the iShares Bloomberg Roll Select Commodity Strategy ETF Invest?
| Item | Details |
|---|---|
| Tracking Index | Roll Select Commodity Index |
| Management Style | Active (commodity futures) |
| Rebalancing Frequency | Periodic (per index rules) |
| Dividend Frequency | Annual dividend |
| Expense Ratio | 0.28% |
The fund invests by following an index made up of multiple commodity futures, including energy, metals, and agricultural products. Instead of simply rolling over to the nearest-month contract, it selects maturities with lower rollover costs, aiming to reduce the rollover losses that occur when the futures curve is in contango.
- A maturity selection method that reduces rollover costs
- Broad diversification across energy, metals, and agricultural products
iShares Bloomberg Roll Select Commodity Strategy ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $744.6M, and the expense ratio is 0.28% per year.
Unlike a single-commodity ETF, it diversifies across multiple commodities and seeks to reduce rollover costs, but given the nature of commodity futures, it is highly volatile and sensitive to the economic cycle.
iShares Bloomberg Roll Select Commodity Strategy ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeCommodities react sensitively to the global economy, supply and demand, the dollar exchange rate, and inflation trends. They can perform strongly when inflation is high or commodity demand is robust, but may weaken during economic slowdowns or periods of dollar strength, so volatility tends to be large.
Money tends to flow into commodity ETFs when demand for inflation hedges and commodity diversification rises, while outflows can occur during commodity weakness or disinflation.
iShares Bloomberg Roll Select Commodity Strategy ETF Pros and Cons
Its strengths are broad commodity diversification with reduced rollover costs and an inflation hedge, while its weaknesses are large volatility, economic sensitivity, and futures costs.
💪 Key Strengths
⚠️ Points to Watch
iShares Bloomberg Roll Select Commodity Strategy ETF Alternative ETFs and Related Products
Other broad commodity ETFs, such as all-weather or dynamic roll strategies, use different roll methods. To invest in commodities more broadly, you can also compare the tax-simplified commodity fund PDBC, the broad commodity fund DBC, and the commodity index fund GSG. These differ in roll methods, tax structure, and fees, so it is best to choose according to your investment perspective.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 HGER | Harbor Commodity All-Weather Strategy ETF | $35.58 | -0.6% | $4.9B | 0.68% | 4.94% | +35.2% |
 DBC | Invesco DB Commodity Index Tracking Fund | $33.61 | -0.3% | $1.9B | 0.84% | - | +52.9% |
 COMT | iShares GSCI Commodity Dynamic Roll Strategy ETF | $38.56 | -0.3% | $1.4B | 0.48% | 5% | +43.6% |
 CERY | SPDR Enhanced Roll Yield Commodity | $39.72 | -0.4% | $1.3B | 0.28% | 3.59% | +36.3% |
 GSG | iShares S&P GSCI Commodity Indexed Trust | $37.02 | -0.2% | $1.1B | 0.75% | - | +60.6% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 USLM | United States Lime & Minerals Inc | 0.18% | $111.61 | -2.0% | $3.2B | 23.9 | 0.22% |
 BNO | United States Brent Oil Fund LP | 0.25% | $71.39 | +0.9% | $0.0M | - | - |
iShares Bloomberg Roll Select Commodity Strategy ETF Investor Checkpoints
These are the points to review before investing in CMDY. As a commodity ETF, it is important to check volatility, economic sensitivity, futures costs, and the fee level in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the fee of the commodity strategy ETF | Relatively low |
| 📉 Volatility | Confirm large volatility typical of commodity futures | Large |
| 🌐 Economic Sensitivity | Performance swings depending on the economy and the dollar | Sensitive |
| 🔄 Futures Costs | Check rollover and futures management costs | Needs review |
Given the nature of commodity futures, volatility is large, and the fund may weaken during economic slowdowns or periods of dollar strength. Even with reduced rollover costs, futures management costs remain, and long-term performance may differ from spot commodity prices, so keep both points in mind.
This is an active ETF suited to investors who want broad commodity exposure along with an inflation hedge and diversification. If you want exposure to a single commodity, an individual commodity ETF may be the better choice, while CMDY can be an alternative if you want broad commodity exposure with reduced rollover costs.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 5, 2026.
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