CMDY vs HGER

CMDYBiShares Bloomberg Roll Select Commodity Strategy ETF

HGERCHarbor Commodity All-Weather Strategy ETF (HGER)

In short

CMDY Commodities without the worst of the futures math. CMDY tracks the Roll Select version of the Bloomberg commodity index, where contract choice is written into the rules to ease rolling costs, and charges 0.29% to do it.

HGER Most commodity indexes weight by what the world digs up. HGER tracks a Quantix index that weights by what actually moves US inflation, with a gold sleeve that expands or shrinks depending on which kind of inflation shows up.

Stated mandate

CMDY The fund seeks to track an index representing a broad range of commodity exposures, using enhanced roll selection on a total-return basis.

HGER The Fund seeks to track, before fees and expenses, the Quantix Commodity Index.

Why people hold it

• CMDY The name is the strategy. Enhanced roll selection is baked into the index it tracks, so which futures contract to hold is a rule, not an afterthought.
• 0.29% a year sits in the low-fee tier of broad commodity funds, next to BCI, CERY and BCD, and well under what the category typically charges.
• One ticker, a broad basket of roughly 60 futures positions, run on a total-return basis that counts collateral income alongside commodity price moves.
• Live since 2018 under the iShares roof, and one of the stronger implementations in its broad-basket commodity peer group.

• HGER The index screens commodities on their sensitivity to US inflation and on the cost of rolling futures, so roll drag is part of the selection math, not an afterthought.usnews.com
• Gold is not a fixed slice here. The methodology lets it carry a far larger weight ceiling than any other commodity when inflation looks monetary rather than supply-driven.tradingview.comharborcapital.com
• Commodity exposure runs through swaps held in a wholly owned Cayman subsidiary, the plumbing that keeps futures gains off a K-1 at tax time.usnews.comtradingview.com
• Sits in the upper half of the broad-basket commodity futures group, and it is a multi-billion-dollar fund that trades actively, so getting a fill is rarely the hard part.

Worth knowing

• CMDY Moderately traded rather than a volume monster. Spreads can run wider than the mega-cap index funds, which shows up most on large or hurried orders.
• It is structured as a commodity pool, not a plain stock fund, so the tax paperwork and reporting work differently. Check the details before filing season.
• Distributions land annually or semiannually, not monthly, and the roll rule addresses futures mechanics only. Commodity prices still swing hard on their own.

• HGER The 0.68% expense ratio lands right at the category median, but production-weighted trackers like BCI (0.26%) and CMDY (0.29%) charge roughly a third as much.
• Concentrated by design: the index runs a minimum of roughly 15 futures and the fund is classified as non-diversified, so one commodity can drive a lot of the ride.usnews.comtradingview.com
• Launched in 2022 under a different name and a different inflation index, switching to the Quantix index in 2023, so the earliest slice of its record reflects another recipe.tradingview.com

Full CMDY profile⁠

Full HGER profile⁠