abrdn Bloomberg All Commodity Strategy K-1… (BCI) Performance
BCI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +34.8% since Dec 31, 2025
- 1 year
- +38.1% total return
- 5 years
- +10.4% a year
- Since first price
- +7.9% a year since 2017
BCI trailing returns vs SPY, QQQ, AGG
| Period | BCI total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.5% | −0.5% | −1.0% | −5.0% | +0.9% |
| 3 months | +6.9% | +6.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.1% | +7.1% | +7.8% | +8.4% | −1.5% |
| YTD | +34.8% | +34.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +38.1% | +18.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +55.1%+15.8%/yr | +24.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +63.9%+10.4%/yr | −9.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionMar 31, 2017 | +106.1%+7.9%/yr | +5.2% | — | — | — |
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: BCI vs SPY
From Mar 31, 2017: BCI grew to $20,613, SPY to $37,366.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BCI returns by calendar year
5 of 8 full years positive. Best 2021 (+26.2%), worst 2018 (−11.2%). 2026 is year to date.
BCI annual returns table
| Year | BCI | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +34.8% | −14.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +15.1% | −9.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +5.5% | −11.4% | +24.9% | +25.6% | +1.3% |
| 2023 | −8.8% | −11.7% | +26.2% | +54.9% | +5.7% |
| 2022 | +15.1% | −19.3% | −18.2% | −32.6% | −13.0% |
| 2021 | +26.2% | −10.5% | +28.7% | +27.4% | −1.8% |
| 2020 | −2.8% | −26.6% | +18.3% | +48.6% | +7.5% |
| 2019 | +7.1% | −7.7% | +31.2% | +39.0% | +8.5% |
| 2018 | −11.2% | −15.0% | −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.
BCI largest drawdowns
Now 1.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 23, 2018 | −32.7% | Mar 18, 2020 | Apr 26, 2021 | 1.8 years | 2.9 years |
| Jun 7, 2022 | −26.5% | May 31, 2023 | Jan 23, 2026 | 12 months | 3.6 years |
| May 12, 2026 | −14.8% | Jun 24, 2026 | Sep 1, 2026 | 43 days | 4 months |
| Mar 8, 2022 | −11.7% | Mar 16, 2022 | Apr 18, 2022 | 8 days | 41 days |
| Oct 25, 2021 | −10.5% | Dec 1, 2021 | Jan 27, 2022 | 37 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BCI risk statistics
| Statistic | 3 years | 5 years | Since 2017 |
|---|---|---|---|
| Annualized return | +15.3% | +10.7% | +7.7% |
| Volatility (annualized) | 14.0% | 15.5% | 14.4% |
| Sharpe ratio | 0.77 | 0.50 | 0.42 |
| Sortino ratio | 1.44 | 0.79 | 0.64 |
| Best month | +11.4% | +11.4% | +11.4% |
| Worst month | −8.6% | −10.7% | −12.8% |
| Best 12 months | +44.7% | +44.7% | +48.3% |
| Worst 12 months | −1.1% | −23.5% | −23.5% |
| Positive months | 64% | 58% | 55% |
| Beta vs S&P 500 | -0.18 | 0.17 | — |
| Correlation with S&P 500 | -0.16 | 0.18 | — |
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.
BCI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 104 | −23.5% | +4.4% | +48.3% | 58% |
| 3-year (a year) | 80 | −9.0% | +6.4% | +20.4% | 78% |
| 5-year (a year) | 56 | +2.7% | +7.9% | +13.9% | 100% |
Every holding period starting at a month-end since 2017. Returns for 3 years and longer are annualized.
BCI performance overview
abrdn Bloomberg All Commodity Strategy K-1… (BCI) returned +38.1% over the past year and +10.4% a year over five years, with distributions reinvested. Since its first recorded price in 2017 it has returned +7.9% a year, turning $10,000 into about $20,613. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −32.7%, from May 23, 2018 to Mar 18, 2020, and it took 1.1 years to get back to the old high. BCI finished 5 of its 8 full calendar years with a gain; the best year was 2021 (+26.2%) and the worst 2018 (−11.2%). Volatility has been 14.4% a year.
Related: BCI chart, BCI dividends. See the BCI overview for the latest quote and fund facts.
BCI performance FAQ
What is the BCI return over the past year?
BCI returned +38.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 18.7%.
What is the average annual return of BCI?
BCI has returned +10.4% a year over 5 years, +7.9% a year since March 31, 2017 (total return, distributions reinvested).
How much would $10,000 invested in BCI be worth?
$10,000 invested in BCI at its first recorded close on March 31, 2017 would be worth about $20,613 on October 23, 2026 with distributions reinvested.
What was the worst year for BCI?
The worst calendar year was 2018, with a total return of −11.2%. The best was 2021 at +26.2%.
What is the biggest drawdown of BCI?
The largest peak-to-trough decline was −32.7% between May 23, 2018 and March 18, 2020. It recovered to the old high on April 26, 2021, 1.1 years after the bottom.
How volatile is BCI?
Over the past 3 years BCI had an annualized volatility of 14.0% and a Sharpe ratio of 0.77 (excess return over 1–3 month T-bills per unit of risk).