VanEck CMCI Commodity Strategy ETF (CMCI) Performance
CMCI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +32.8% since Dec 31, 2025
- 1 year
- +34.8% total return
- 3 years
- +13.3% a year
- Since first price
- +12.9% a year since 2023
CMCI trailing returns vs SPY, QQQ, AGG
| Period | CMCI total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.1% | +0.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +7.4% | +7.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +10.4% | +10.4% | +7.8% | +8.4% | −1.5% |
| YTD | +32.8% | +32.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +34.8% | +22.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +45.6%+13.3%/yr | +25.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionAug 23, 2023 | +47.0%+12.9%/yr | +26.6% | — | — | — |
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: CMCI vs SPY
From Aug 23, 2023: CMCI grew to $14,703, SPY to $17,850.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CMCI returns by calendar year
2 of 2 full years positive. Best 2025 (+7.9%), worst 2024 (+5.7%). 2026 is year to date.
CMCI annual returns table
| Year | CMCI | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +32.8% | −10.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +7.9% | −10.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +5.7% | −11.5% | +24.9% | +25.6% | +1.3% |
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.
CMCI largest drawdowns
Now 1.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 20, 2024 | −11.5% | Sep 10, 2024 | Jan 10, 2025 | 4 months | 8 months |
| May 12, 2026 | −10.8% | Jun 18, 2026 | Aug 17, 2026 | 37 days | 3 months |
| Jan 10, 2025 | −10.6% | Apr 8, 2025 | Nov 3, 2025 | 3 months | 10 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
CMCI risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +12.6% | +12.3% |
| Volatility (annualized) | 10.6% | 10.5% |
| Sharpe ratio | 0.76 | 0.74 |
| Sortino ratio | 1.35 | 1.32 |
| Best month | +8.6% | +8.6% |
| Worst month | −5.9% | −5.9% |
| Best 12 months | +34.8% | +34.8% |
| Worst 12 months | −3.2% | −3.2% |
| Positive months | 64% | 65% |
| Beta vs S&P 500 | -0.06 | — |
| Correlation with S&P 500 | -0.07 | — |
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.
CMCI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 27 | −3.2% | +7.4% | +34.8% | 89% |
| 3-year (a year) | 3 | +12.5% | +12.6% | +13.5% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
CMCI performance overview
VanEck CMCI Commodity Strategy ETF (CMCI) returned +34.8% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +12.9% a year, turning $10,000 into about $14,703. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −11.5%, from May 20, 2024 to Sep 10, 2024, and it took 4 months to get back to the old high. Volatility has been 10.5% a year.
Related: CMCI chart, CMCI dividends. See the CMCI overview for the latest quote and fund facts.
CMCI performance FAQ
What is the CMCI return over the past year?
CMCI returned +34.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 22.7%.
How much would $10,000 invested in CMCI be worth?
$10,000 invested in CMCI at its first recorded close on August 23, 2023 would be worth about $14,703 on October 23, 2026 with distributions reinvested.
What was the worst year for CMCI?
The worst calendar year was 2024, with a total return of +5.7%. The best was 2025 at +7.9%.
What is the biggest drawdown of CMCI?
The largest peak-to-trough decline was −11.5% between May 20, 2024 and September 10, 2024. It recovered to the old high on January 10, 2025, 4 months after the bottom.
How volatile is CMCI?
Over the past 3 years CMCI had an annualized volatility of 10.6% and a Sharpe ratio of 0.76 (excess return over 1–3 month T-bills per unit of risk).