CE01.L vs. CMOP.L
CE01.L (iShares Euro Government Bond 7-10yr UCITS ETF (Acc)) and CMOP.L (Invesco Bloomberg Commodity UCITS ETF Acc) are both exchange-traded funds - CE01.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR, while CMOP.L is a Commodities fund tracking the Bloomberg Commodity. Both are passively managed. Over the past 5 years, CE01.L returned -2.20%/yr vs 12.08%/yr for CMOP.L. At a 0.07 correlation, their price movements are largely independent. CE01.L charges 0.15%/yr vs 0.19%/yr for CMOP.L.
Performance
CE01.L vs. CMOP.L - Performance Comparison
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Returns By Period
In the year-to-date period, CE01.L achieves a -0.91% return, which is significantly lower than CMOP.L's 24.84% return.
CE01.L
- 1D
- 0.23%
- 1M
- 0.98%
- YTD
- -0.91%
- 6M
- -0.95%
- 1Y
- 2.93%
- 3Y*
- 2.70%
- 5Y*
- -2.20%
- 10Y*
- 0.80%
CMOP.L
- 1D
- -1.31%
- 1M
- -2.74%
- YTD
- 24.84%
- 6M
- 23.47%
- 1Y
- 38.91%
- 3Y*
- 12.42%
- 5Y*
- 12.08%
- 10Y*
- —
CE01.L vs. CMOP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CE01.L iShares Euro Government Bond 7-10yr UCITS ETF (Acc) | -0.91% | 6.87% | -3.53% | 6.60% | -15.38% | -9.55% | 10.06% | 1.33% | 2.06% | 5.98% |
CMOP.L Invesco Bloomberg Commodity UCITS ETF Acc | 24.84% | 8.23% | 6.01% | -12.72% | 28.44% | 28.71% | -7.11% | 3.31% | -5.01% | -5.69% |
Correlation
The correlation between CE01.L and CMOP.L is -0.28, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2017 | 0.07 |
The correlation between CE01.L and CMOP.L shifts across timeframes, from -0.28 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CE01.L vs. CMOP.L — Risk / Return Rank
CE01.L
CMOP.L
CE01.L vs. CMOP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 7-10yr UCITS ETF (Acc) (CE01.L) and Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L). 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.
| CE01.L | CMOP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.61 | ||
| Sortino ratioReturn per unit of downside risk | -1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.39 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 5.07 | -4.53 |
| Martin ratioReturn relative to average drawdown | 1.30 | 11.63 | -10.33 |
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
| CE01.L | CMOP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.50 | 2.10 | -1.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.27 | 0.73 | -1.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.43 | -0.25 |
Drawdowns
CE01.L vs. CMOP.L - Drawdown Comparison
The maximum CE01.L drawdown since its inception was -27.47%, roughly equal to the maximum CMOP.L drawdown of -28.78%. Use the drawdown chart below to compare losses from any high point for CE01.L and CMOP.L.
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Drawdown Indicators
| CE01.L | CMOP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.47% | -28.78% | +1.31% |
Max Drawdown (1Y)Largest decline over 1 year | -5.33% | -7.63% | +2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -6.85% | -14.89% | +8.04% |
Max Drawdown (5Y)Largest decline over 5 years | -22.14% | -28.78% | +6.64% |
Max Drawdown (10Y)Largest decline over 10 years | -27.47% | — | — |
Current DrawdownCurrent decline from peak | -18.53% | -4.98% | -13.55% |
Average DrawdownAverage peak-to-trough decline | -10.31% | -12.18% | +1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 3.34% | -1.09% |
Volatility
CE01.L vs. CMOP.L - Volatility Comparison
The current volatility for iShares Euro Government Bond 7-10yr UCITS ETF (Acc) (CE01.L) is 1.98%, while Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L) has a volatility of 6.19%. This indicates that CE01.L experiences smaller price fluctuations and is considered to be less risky than CMOP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CE01.L | CMOP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 6.19% | -4.21% |
Volatility (6M)Calculated over the trailing 6-month period | 4.61% | 16.17% | -11.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.88% | 18.42% | -12.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.21% | 16.59% | -8.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.83% | 15.15% | -6.32% |
CE01.L vs. CMOP.L - Expense Ratio Comparison
CE01.L has a 0.15% expense ratio, which is lower than CMOP.L's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CE01.L vs. CMOP.L - Dividend Comparison
Neither CE01.L nor CMOP.L has paid dividends to shareholders.
Frequently Asked Questions
CE01.L and CMOP.L 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.
On fees, CE01.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CE01.L is cheaper with a 0.15% expense ratio, compared with 0.19% for CMOP.L.
CE01.L is categorized as European Government Bonds, while CMOP.L is Commodities. CE01.L tracks Bloomberg Euro Agg Govt TR EUR, while CMOP.L tracks Bloomberg Commodity. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for CE01.L and 0.19% for CMOP.L.
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