BCFE.DE vs. CMOE.DE
BCFE.DE (UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc) and CMOE.DE (Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc) are both Commodities funds - BCFE.DE tracks the UBS BCOM Constant Maturity (EUR Hedged) while CMOE.DE tracks the Bloomberg Commodity (EUR Hedged). Both are passively managed. Over the past 3 years, BCFE.DE returned 12.43%/yr vs 13.22%/yr for CMOE.DE. Their correlation of 0.94 suggests significant overlap in exposure. BCFE.DE charges 0.34%/yr vs 0.24%/yr for CMOE.DE.
Performance
BCFE.DE vs. CMOE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, BCFE.DE achieves a 17.15% return, which is significantly lower than CMOE.DE's 21.57% return.
BCFE.DE
- 1D
- -1.12%
- 1M
- -0.08%
- YTD
- 17.15%
- 6M
- 18.41%
- 1Y
- 28.89%
- 3Y*
- 12.43%
- 5Y*
- 9.76%
- 10Y*
- —
CMOE.DE
- 1D
- -1.32%
- 1M
- -1.55%
- YTD
- 21.57%
- 6M
- 21.82%
- 1Y
- 33.83%
- 3Y*
- 13.22%
- 5Y*
- —
- 10Y*
- —
BCFE.DE vs. CMOE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BCFE.DE UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc | 17.15% | 16.62% | 3.14% | -7.92% | 3.13% |
CMOE.DE Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc | 21.57% | 14.96% | 2.92% | -9.62% | -0.48% |
Correlation
The correlation between BCFE.DE and CMOE.DE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2022 | 0.94 |
The correlation between BCFE.DE and CMOE.DE has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
BCFE.DE vs. CMOE.DE — Risk / Return Rank
BCFE.DE
CMOE.DE
BCFE.DE vs. CMOE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc (BCFE.DE) and Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE). 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.
| BCFE.DE | CMOE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.37 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.83 | 4.49 | +0.34 |
| Martin ratioReturn relative to average drawdown | 11.89 | 10.26 | +1.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BCFE.DE | CMOE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.14 | 2.00 | +0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.37 | +0.12 |
Drawdowns
BCFE.DE vs. CMOE.DE - Drawdown Comparison
The maximum BCFE.DE drawdown since its inception was -32.93%, which is greater than CMOE.DE's maximum drawdown of -29.97%. Use the drawdown chart below to compare losses from any high point for BCFE.DE and CMOE.DE.
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Drawdown Indicators
| BCFE.DE | CMOE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.93% | -29.97% | -2.96% |
Max Drawdown (1Y)Largest decline over 1 year | -6.14% | -7.70% | +1.56% |
Max Drawdown (3Y)Largest decline over 3 years | -11.00% | -11.83% | +0.83% |
Max Drawdown (5Y)Largest decline over 5 years | -27.28% | — | — |
Current DrawdownCurrent decline from peak | -4.36% | -5.48% | +1.12% |
Average DrawdownAverage peak-to-trough decline | -13.69% | -19.33% | +5.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 3.38% | -0.88% |
Volatility
BCFE.DE vs. CMOE.DE - Volatility Comparison
The current volatility for UBS ETFs (IE) Bloomberg Commodity CMCI SF UCITS ETF (EUR Hedged) Acc (BCFE.DE) is 4.33%, while Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE) has a volatility of 5.18%. This indicates that BCFE.DE experiences smaller price fluctuations and is considered to be less risky than CMOE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCFE.DE | CMOE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 5.18% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 12.10% | 15.26% | -3.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.88% | 17.28% | -3.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.51% | 16.62% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.30% | 16.62% | -1.32% |
BCFE.DE vs. CMOE.DE - Expense Ratio Comparison
BCFE.DE has a 0.34% expense ratio, which is higher than CMOE.DE's 0.24% expense ratio.
Dividends
BCFE.DE vs. CMOE.DE - Dividend Comparison
Neither BCFE.DE nor CMOE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, BCFE.DE and CMOE.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, CMOE.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMOE.DE is cheaper with a 0.24% expense ratio, compared with 0.34% for BCFE.DE.
BCFE.DE tracks UBS BCOM Constant Maturity (EUR Hedged), while CMOE.DE tracks Bloomberg Commodity (EUR Hedged). They also come from different issuers: UBS and Invesco. Their fees differ too: 0.34% for BCFE.DE and 0.24% for CMOE.DE.
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