abrdn Bloomberg All Commodity Longer Dated… (BCD) Performance
BCD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +25.6% since Dec 31, 2025
- 1 year
- +29.4% total return
- 5 years
- +10.7% a year
- Since first price
- +9.4% a year since 2017
BCD trailing returns vs SPY, QQQ, AGG
| Period | BCD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.7% | −0.7% | −1.0% | −5.0% | +0.9% |
| 3 months | +5.7% | +5.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.9% | +5.9% | +7.8% | +8.4% | −1.5% |
| YTD | +25.6% | +25.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +29.4% | +10.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +48.2%+14.0%/yr | +16.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +65.9%+10.7%/yr | +14.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionMar 31, 2017 | +135.9%+9.4%/yr | +55.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BCD vs SPY
From Mar 31, 2017: BCD grew to $23,593, SPY to $37,366.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BCD returns by calendar year
6 of 8 full years positive. Best 2021 (+31.9%), worst 2018 (−8.6%). 2026 is year to date.
BCD annual returns table
| Year | BCD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +25.6% | −12.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +15.7% | −9.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +6.2% | −10.5% | +24.9% | +25.6% | +1.3% |
| 2023 | −7.6% | −11.0% | +26.2% | +54.9% | +5.7% |
| 2022 | +18.4% | −19.7% | −18.2% | −32.6% | −13.0% |
| 2021 | +31.9% | −8.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +4.8% | −24.2% | +18.3% | +48.6% | +7.5% |
| 2019 | +7.4% | −8.5% | +31.2% | +39.0% | +8.5% |
| 2018 | −8.6% | −14.6% | −4.6% | −0.1% | +0.1% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BCD largest drawdowns
Now 1.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 24, 2018 | −29.8% | Mar 18, 2020 | Feb 4, 2021 | 1.8 years | 2.7 years |
| Jun 7, 2022 | −23.0% | May 31, 2023 | Dec 26, 2025 | 12 months | 3.6 years |
| May 12, 2026 | −12.7% | Jun 24, 2026 | Sep 1, 2026 | 43 days | 4 months |
| Mar 8, 2022 | −10.4% | Mar 16, 2022 | Apr 13, 2022 | 8 days | 36 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BCD risk statistics
| Statistic | 3 years | 5 years | Since 2017 |
|---|---|---|---|
| Annualized return | +13.8% | +11.1% | +9.3% |
| Volatility (annualized) | 11.3% | 13.7% | 13.0% |
| Sharpe ratio | 0.82 | 0.57 | 0.57 |
| Sortino ratio | 1.39 | 0.87 | 0.86 |
| Best month | +8.5% | +8.9% | +8.9% |
| Worst month | −7.6% | −11.0% | −11.0% |
| Best 12 months | +36.0% | +36.0% | +53.6% |
| Worst 12 months | +1.5% | −19.8% | −19.8% |
| Positive months | 64% | 62% | 59% |
| Beta vs S&P 500 | -0.03 | 0.22 | — |
| Correlation with S&P 500 | -0.04 | 0.25 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BCD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 104 | −19.8% | +5.4% | +53.6% | 63% |
| 3-year (a year) | 80 | −7.0% | +9.6% | +25.3% | 86% |
| 5-year (a year) | 56 | +6.2% | +10.8% | +17.0% | 100% |
Every holding period starting at a month-end since 2017. Returns for 3 years and longer are annualized.
BCD performance overview
abrdn Bloomberg All Commodity Longer Dated… (BCD) returned +29.4% over the past year and +10.7% a year over five years, with distributions reinvested. Since its first recorded price in 2017 it has returned +9.4% a year, turning $10,000 into about $23,593. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −29.8%, from May 24, 2018 to Mar 18, 2020, and it took 11 months to get back to the old high. BCD finished 6 of its 8 full calendar years with a gain; the best year was 2021 (+31.9%) and the worst 2018 (−8.6%). Volatility has been 13.0% a year.
Related: BCD chart, BCD dividends. See the BCD overview for the latest quote and fund facts.
BCD performance FAQ
What is the BCD return over the past year?
BCD returned +29.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 10.5%.
What is the average annual return of BCD?
BCD has returned +10.7% a year over 5 years, +9.4% a year since March 31, 2017 (total return, distributions reinvested).
How much would $10,000 invested in BCD be worth?
$10,000 invested in BCD at its first recorded close on March 31, 2017 would be worth about $23,593 on October 23, 2026 with distributions reinvested.
What was the worst year for BCD?
The worst calendar year was 2018, with a total return of −8.6%. The best was 2021 at +31.9%.
What is the biggest drawdown of BCD?
The largest peak-to-trough decline was −29.8% between May 24, 2018 and March 18, 2020. It recovered to the old high on February 4, 2021, 11 months after the bottom.
How volatile is BCD?
Over the past 3 years BCD had an annualized volatility of 11.3% and a Sharpe ratio of 0.82 (excess return over 1–3 month T-bills per unit of risk).