CCRV vs SPY
iShares Commodity Curve Carry Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | CCRV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.40% | 0.09% | |
| AUM | $27M | $821.1B | |
| Dividend Yield | 4.31% | 1.01% | |
| Holdings | 91 | 505 | |
| YTD Return | -0.70% | +12.93% | |
| 1Y Return | +1.35% | +20.62% | |
| 3Y Return (annualized) | +3.74% | +22.00% | |
| 5Y Return (annualized) | +14.07% | +13.33% | |
| Volatility (annualized) | 14.2% | 15.3% | |
| Max Drawdown | -24.8% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Commodity | Equity | |
| Inception | Sep 1, 2020 | Jan 22, 1993 |
CCRV vs SPY Performance
iShares Commodity Curve Carry Strategy ETF (CCRV) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CCRV returned +1.35% while SPY returned +20.62%. Year to date, CCRV is down 0.70% versus a gain of 12.93% for SPY.
Over three years, CCRV compounded at +3.74% per year against +22.00% for SPY; over five years the annualized figures are +14.07% and +13.33% respectively. Across the full 5-year window we track, CCRV has the edge at +14.07% annualized vs +8.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.2% for CCRV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -24.8% for CCRV and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.24. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CCRV charges 0.40% per year while SPY charges 0.09%. On a $10,000 position that is $40 vs $9 annually, a gap of $31 per year that compounds over a long holding period. On income, CCRV currently yields 4.31% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, CCRV or SPY?
CCRV has an expense ratio of 0.40% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $31 per year of difference.
Which performed better, CCRV or SPY?
Over the past year CCRV returned +1.35% vs +20.62% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), CCRV annualized +14.07% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, CCRV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.2% for CCRV. Worst drawdown: CCRV -24.8% vs SPY -56.5%.
Should I hold both CCRV and SPY?
CCRV and SPY have a monthly-return correlation of 0.24, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CCRV or SPY?
CCRV yields 4.31% while SPY yields 1.01%, so CCRV currently pays the higher dividend yield.
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