APLU vs. CMDT

Last updated Aug 4, 2026

APLU (Allspring Core Plus ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - APLU is a Intermediate Core-Plus Bond fund actively managed by Allspring, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. APLU is actively managed, while CMDT is passively managed. Over the past year, APLU returned 2.09% vs 27.48% for CMDT. Their -0.21 correlation means they have often moved in opposite directions in the past. APLU charges 0.31%/yr vs 0.65%/yr for CMDT.

Performance

APLU vs. CMDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Core Plus ETF (APLU) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APLU achieves a -0.41% return, which is significantly lower than CMDT's 18.51% return.

APLU

• 1D: 0.39%
• 1M: -1.03%
• 6M: -0.69%
• YTD: -0.41%
• 1Y: 2.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.01%

CMDT

• 1D: -0.74%
• 1M: 6.05%
• 6M: 15.17%
• YTD: 18.51%
• 1Y: 27.48%
• 3Y*: 11.80%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.50%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
APLU Allspring Core Plus ETF	$2.31M	$1.38M	$1.31M
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	$1.96M	$1.73M	$2.38M

APLU vs. CMDT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
APLU Allspring Core Plus ETF	-0.41%	7.38%	-1.76%
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	18.51%	12.78%	1.29%

Correlation

The correlation between APLU and CMDT is -0.28, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.28
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024	-0.21

Return for Risk

APLU vs. CMDT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

APLU

APLU Risk / Return Rank: 22
APLU Sharpe Ratio Rank: 23
APLU Sortino Ratio Rank: 20
APLU Omega Ratio Rank: 20
APLU Calmar Ratio Rank: 23
APLU Martin Ratio Rank: 24

CMDT

CMDT Risk / Return Rank: 74
CMDT Sharpe Ratio Rank: 86
CMDT Sortino Ratio Rank: 84
CMDT Omega Ratio Rank: 82
CMDT Calmar Ratio Rank: 56
CMDT Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

APLU vs. CMDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Core Plus ETF (APLU) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	APLU	CMDT	Difference
Sharpe ratio: Return per unit of total volatility	0.53	2.11	-1.58
Sortino ratio: Return per unit of downside risk	0.76	2.89	-2.13
Omega ratio: Gain probability vs. loss probability	1.09	1.36	-0.27
Calmar ratio: Return relative to maximum drawdown	0.74	2.09	-1.35
Martin ratio: Return relative to average drawdown	1.88	7.34	-5.45

APLU vs. CMDT - Sharpe Ratio Comparison

The current APLU Sharpe Ratio is 0.53, which is lower than the CMDT Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of APLU and CMDT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

APLU vs. CMDT - Drawdown Comparison

The maximum APLU drawdown since its inception was -3.24%, smaller than the maximum CMDT drawdown of -13.23%. Use the drawdown chart below to compare losses from any high point for APLU and CMDT.

Drawdown Indicators

	APLU	CMDT	Difference
Max Drawdown Largest peak-to-trough decline	-3.24%	-13.23%	+9.99%
Max Drawdown (1Y) Largest decline over 1 year	-2.84%	-13.23%	+10.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.23%	—
Current Drawdown Current decline from peak	-2.16%	-7.13%	+4.97%
Average Drawdown Average peak-to-trough decline	-0.96%	-2.98%	+2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	3.76%	-2.65%

Volatility

APLU vs. CMDT - Volatility Comparison

The current volatility for Allspring Core Plus ETF (APLU) is 1.29%, while PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) has a volatility of 4.11%. This indicates that APLU experiences smaller price fluctuations and is considered to be less risky than CMDT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APLU	CMDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.29%	4.11%	-2.82%
Volatility (6M) Calculated over the trailing 6-month period	3.17%	11.14%	-7.97%
Volatility (1Y) Calculated over the trailing 1-year period	3.99%	13.12%	-9.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.00%	12.36%	-7.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.00%	12.36%	-7.36%

APLU vs. CMDT - Expense Ratio Comparison

APLU has a 0.31% expense ratio, which is lower than CMDT's 0.65% expense ratio.

Dividends

APLU vs. CMDT - Dividend Comparison

APLU's dividend yield for the trailing twelve months is around 5.54%, more than CMDT's 2.60% yield.

Position	TTM	2025	2024	2023
APLU Allspring Core Plus ETF	5.54%	5.13%	0.44%	0.00%
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	2.60%	3.04%	8.80%	2.71%

Frequently Asked Questions

Can I hold both APLU and CMDT in my portfolio?

APLU and CMDT have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APLU or CMDT?

CMDT has higher volatility (4.11%) compared to APLU (1.29%). In terms of maximum drawdown, APLU dropped -3.24% vs CMDT's -13.23%.

Which ETF is better, APLU or CMDT?

On 1-year performance, CMDT leads with 27.48% vs 2.09% for APLU. On fees, APLU is cheaper at 0.31% per year. On volatility, APLU has been the lower-risk option at 1.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APLU or CMDT?

Over the 1-year period, CMDT has performed better with a 27.48% return vs 2.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APLU or CMDT?

APLU is cheaper with a 0.31% expense ratio, compared with 0.65% for CMDT.

Which ETF pays a higher dividend yield, APLU or CMDT?

APLU has the higher dividend yield at 5.54%, compared with 2.60% for CMDT.

What is the main difference between APLU and CMDT?

APLU is categorized as Intermediate Core-Plus Bond, while CMDT is Commodities. They also come from different issuers: Allspring and PIMCO. Their fees differ too: 0.31% for APLU and 0.65% for CMDT.

Which has better risk-adjusted returns?

CMDT currently has the higher Sharpe Ratio (2.11 vs 0.53), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.