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CERY vs SDMF

State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF

CERYANYSE Arca

Simplify DBi CTA Managed Futures Index ETF

SDMFBNYSE Arca

Overlap

0.0%by weight

Expense ratio

SDMF −0.07pt a year

CERY0.28%SDMF0.21%

Avg volume · 30D

CERY 8.5×the volume

CERY216KSDMF25.4K

CERY vs SDMF Performance

Jul 31, 2026 – Oct 30, 2026

+10.5%CERY+4.8%SDMF

Jul 31, 2026 to Oct 30, 2026. CERY +10.5%. SDMF +4.8%. Use the arrow keys to read each point.−2.5%0%2.5%7.5%12.5%Jul 2026Sep 2026Oct 2026
Expense ratio
CERY 0.28%
SDMF 0.21%, better
Fund size
CERY $1.27B
SDMF $49M
1Y total return
CERY +43.1%
SDMF No data
Yield (12M)
CERY 3.59%
SDMF No data
Holdings
CERY 12
SDMF 27
Avg volume (30D)
CERY 216K sh, better
SDMF 25.4K sh
NAV per share
CERY $39.89
SDMF $27.08
52W range

ETF.net Grade

CERY: Cost 84, Risk 66, Mission not scored, Tradability 78, Holdings not scored, Durability 64. SDMF: Cost 100, Risk 72, Mission not scored, Tradability 37, Holdings 25, Durability 30.
Pillar letters and Scores for CERY, SDMF, with each pillar’s weight
PillarCERYSDMF
Cost30% weightA84A100Higher
Mission25% weightNot scoredNot scored
Risk15% weightB66A72Higher
Tradability15% weightA78HigherD37
Holdings10% weightNot scoredD25
Durability5% weightB64HigherD30

Rank among Broad Commodity Futures funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. CERY and SDMF are both graded against the same 21 Broad Commodity Futures funds, so their Grades compare head to head.

Broad Commodity Futures⁠

Category · 21 funds
See all 21 ›

CERY ranks 1st and SDMF 4th of 21 funds in the Broad Commodity Futures Category.

  1. Rank 1ACERYState Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETFScore 77
  2. Rank 2ACMDYiShares Bloomberg Roll Select Commodity Strategy ETFScore 69
  3. Rank 3ACOMBGraniteShares Bloomberg Commodity Broad Strategy No K-1 ETFScore 68
  4. Rank 4BSDMFSimplify DBi CTA Managed Futures Index ETFScore 67
  5. Rank 5BBCDabrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETFScore 63

Our read on each fund

ETF.net Research

CERYAState Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF

SDMFBSimplify DBi CTA Managed Futures Index ETF

In short

CERY Broad commodity exposure without the K-1 envelope. CERY tracks Bloomberg's Enhanced Roll Yield index, a rules-based long-only basket held through synthetic futures, and charges 0.28% in a category where the typical fee is far higher.

SDMF Managed futures without the hedge fund bill. SDMF tracks an index built to replicate what CTA trend funds are actually doing, using a short list of liquid futures markets, for 0.35% a year.

Stated mandate

CERY The fund seeks to track the Bloomberg Enhanced Roll Yield Total Return Index, which represents diversified, long-only exposure to broad commodities through synthetic futures positions.

SDMF The Fund seeks long-term capital appreciation.

Why people hold it

  • CERY Costs 0.28% a year against a category norm nearer 0.68%. Fees bite hard in commodity futures funds, where there are no dividends to paper over the drag.
  • Tracks Bloomberg's Enhanced Roll Yield index: rules-based, long-only commodity exposure via synthetic futures. Roll mechanics come from index design, not a manager's call.ssga.com
  • Built as a 1940 Act fund, so shareholders get a 1099 rather than the partnership K-1 that many commodity futures vehicles send.ssga.com
  • Sits with BCI and BCD at the low-fee end of the broad commodity futures group and rates among the strongest implementations in it.
  • SDMF Charges 0.35%, roughly half the typical fee among futures-strategy funds in its group. Cheap shelf space for a strategy that usually arrives with hedge fund pricing.
  • Rules over hunches: it follows the DBi CTA Managed Futures Index and its advertised 10-factor replication approach, not a trader's discretion.simplify.us
  • Its cohort is mostly long-only commodity baskets (BCI, CMDY). This one is a managed futures strategy, which can lean either direction across futures markets.
  • Ordinary 1940 Act ETF plumbing: daily pricing, intraday trading, no lockup or subscription paperwork.

Worth knowing

  • CERY Launched in 2024, so the record is short. The roll rules have not been tested across a full commodity cycle yet.
  • Long-only by design. There is no short side, so a broad commodity downturn passes straight through to the fund.
  • Distributions come once or twice a year. This is commodity price exposure, not a paycheck.
  • SDMF Launched in 2026, so there is no long record here and the risk picture rests on limited history.
  • A small fund that has traded lightly since launch, so spreads can run wider than the big commodity index names in its category.
  • The stated goal is long-term capital appreciation, and payouts come once or twice a year at most. Not built as an income stream.

Full CERY profile⁠

Full SDMF profile⁠

CERY vs SDMF Holdings

How CERY and SDMF differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of CERY and 0.0% of SDMF.

Level by level

  • Asset classCommodities, Alternatives0.0%
  • Holdings0 in both0.0%

Sector

No Sector split for CERY.

Country, concentration and asset class

Country by domicile

No country split for CERY and SDMF.

Concentration

Weight in the 10 largest Holdings

  • CERY99.4%
  • SDMF299.9%

Securities held

  • CERY3
  • SDMF24

Asset class

CERY
Commodities
SDMF
Alternatives

Holdings

  • Only in CERY3
  • In both0
  • Only in SDMF24

Only in CERY

3 securities, 19.6% of CERY by weight

  • Treasury Bill 12/26 0.000009.20%
  • Treasury Bill 11/26 0.000007.22%
  • Trs USD Berytr3.18%

Only in SDMF

24 securities, 100% of SDMF by weight

  • US Treasury Note, 2yr72.54%
  • US Treasury Note62.40%
  • Trs Dbmfc 080927 Bullet15.52%

Weight gaps

CERY and SDMF share no securities.

All 9 CERY holdings⁠All SDMF holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CERY vs SDMF Cost

Overpaying CERY vs SDMF

$1,398

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • CERY 0.28%

    $5,755

  • SDMF 0.21%

    $4,357

$10,000
30 years

Cost over time

  • CERY 0.28%
  • SDMF 0.21%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530CERY $5,755SDMF $4,357

Year by year

YearCERYSDMFOverpaying
10$509$383$126
20$1,976$1,491$485
30$5,755$4,357$1,398

Expense ratio

  • 0.28%CERY
  • 0.21%SDMF, cheaper
  • Middle half of Broad Commodity Futures funds
  • Median 0.68%

SDMF cheapest of 21 funds

CERY 3rd cheapest of 21 funds

CERY vs SDMF Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
CERY 3.59%
SDMF No data
Payout (12M)
CERY $1.43
SDMF No data
Last payment
CERY $1.43
SDMF $0.10
Ex-dividend
CERY Dec 29, 2025
SDMF Sep 25, 2026
Paid on
CERY Dec 31, 2025
SDMF Sep 30, 2026
Frequency
CERY Annual
SDMF Quarterly

Distribution history

Per share, 2024 to 2026, same scale for both

CERYAnnual · 2 paymentsAll CERY payments⁠
One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 27, 2024 $0.14; Dec 29, 2025 $1.43. Use the arrow keys to read each point.$0$12026YTD
SDMFQuarterly · 2 paymentsAll SDMF payments⁠
One bar per payment. 2 payments from 2024 to 2026 YTD. Jun 25, 2026 $0.10; Sep 25, 2026 $0.10. Use the arrow keys to read each point.$0$12026YTD

CERY vs SDMF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CERY 14.0%since Oct 2024SDMF No data
Return per unit of riskSharpe ratio, 3 years
CERY 1.41since Oct 2024SDMF No data
Worst fallMax drawdown, 5 years
CERY −14.3%since Sep 2024SDMF No data
Market sensitivityBeta, 5 years
CERY 0.03SDMF 0.27

CERY and SDMF in the news

All news⁠

Popular comparisons

  • CERYAvsCMDYA

    State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF · iShares Bloomberg Roll Select Commodity Strategy ETF

    Expense ratio
    0.28% · 0.29%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SDMFBvsCMDYA

    Simplify DBi CTA Managed Futures Index ETF · iShares Bloomberg Roll Select Commodity Strategy ETF

    Expense ratio
    0.21% · 0.29%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • CERYAvsCOMBA

    State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF · GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF

    Expense ratio
    0.28% · 0.25%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SDMFBvsCOMBA

    Simplify DBi CTA Managed Futures Index ETF · GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF

    Expense ratio
    0.21% · 0.25%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • CERYAvsBCDB

    State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF · abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF

    Expense ratio
    0.28% · 0.30%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • SDMFBvsBCDB

    Simplify DBi CTA Managed Futures Index ETF · abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF

    Expense ratio
    0.21% · 0.30%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.