CMCI vs SPY
VanEck CMCI Commodity 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 503 holdings.
Side-by-Side Comparison
| Metric | CMCI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.67% | 0.09% | |
| AUM | $3M | $789.1B | |
| Dividend Yield | 8.63% | 1.01% | |
| Holdings | 19 | 505 | |
| YTD Return | +24.95% | +14.47% | |
| 1Y Return | +19.70% | +21.96% | |
| 3Y Return (annualized) | +8.02% | +21.70% | |
| 5Y Return (annualized) | +8.02% | +13.30% | |
| Volatility (annualized) | 13752483.6% | 15.3% | |
| Max Drawdown | -100.0% | -56.5% | |
| Fund Family | VanEck | State Street Investment Management | |
| Category | Commodity | Equity | |
| Inception | Aug 21, 2023 | Jan 22, 1993 |
CMCI vs SPY Performance
VanEck CMCI Commodity Strategy ETF (CMCI) is a ETF from VanEck and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CMCI returned +19.70% while SPY returned +21.96%. Year to date, CMCI is up 24.95% versus a gain of 14.47% for SPY.
Over three years, CMCI compounded at +8.02% per year against +21.70% for SPY; over five years the annualized figures are +8.02% and +13.30% respectively. Across the full 15-year window we track, CMCI has the edge at +29.54% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CMCI has been the more volatile fund, with annualized monthly volatility of 13752483.6% compared with 15.3% for SPY. 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 -100.0% for CMCI 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 -0.06. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CMCI charges 0.67% per year while SPY charges 0.09%. On a $10,000 position that is $67 vs $9 annually, a gap of $58 per year that compounds over a long holding period. On income, CMCI currently yields 8.63% against 1.01% for SPY.
Holdings Overlap
CMCI and SPY share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CMCI or SPY?
CMCI has an expense ratio of 0.67% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $58 per year of difference.
Which performed better, CMCI or SPY?
Over the past year CMCI returned +19.70% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (15 years), CMCI annualized +29.54% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, CMCI or SPY?
CMCI has been the more volatile fund at 13752483.6% annualized versus 15.3% for SPY. Worst drawdown: CMCI -100.0% vs SPY -56.5%.
Should I hold both CMCI and SPY?
CMCI and SPY have a monthly-return correlation of -0.06, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CMCI and SPY?
CMCI and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, CMCI or SPY?
CMCI yields 8.63% while SPY yields 1.01%, so CMCI currently pays the higher dividend yield.
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