CMCI vs. MOAT
CMCI (VanEck CMCI Commodity Strategy ETF) and MOAT (VanEck Morningstar Wide Moat ETF) are both exchange-traded funds - CMCI is a Commodities fund tracking the UBS Bloomberg CMCI Composite Total Return Index, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. Both are passively managed. Over the past year, CMCI returned 29.90% vs 15.51% for MOAT. At a 0.05 correlation, their price movements are largely independent. CMCI charges 0.65%/yr vs 0.47%/yr for MOAT.
Performance
CMCI vs. MOAT - Performance Comparison
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Returns By Period
In the year-to-date period, CMCI achieves a 21.96% return, which is significantly higher than MOAT's -0.07% return.
CMCI
- 1D
- -0.85%
- 1M
- -1.73%
- YTD
- 21.96%
- 6M
- 22.52%
- 1Y
- 29.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MOAT
- 1D
- 0.88%
- 1M
- 3.57%
- YTD
- -0.07%
- 6M
- -0.05%
- 1Y
- 15.51%
- 3Y*
- 11.79%
- 5Y*
- 8.20%
- 10Y*
- 13.40%
CMCI vs. MOAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CMCI VanEck CMCI Commodity Strategy ETF | 21.96% | 7.90% | 5.68% | -2.87% |
MOAT VanEck Morningstar Wide Moat ETF | -0.07% | 13.20% | 10.73% | 9.36% |
Correlation
The correlation between CMCI and MOAT is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2023 | 0.05 |
The correlation between CMCI and MOAT shifts across timeframes, from -0.07 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CMCI vs. MOAT — Risk / Return Rank
CMCI
MOAT
CMCI vs. MOAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck CMCI Commodity Strategy ETF (CMCI) and VanEck Morningstar Wide Moat ETF (MOAT). 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.
| CMCI | MOAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.19 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 5.97 | 1.25 | +4.72 |
| Martin ratioReturn relative to average drawdown | 15.52 | 3.90 | +11.62 |
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
| CMCI | MOAT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 1.12 | +1.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.45 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.72 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 0.78 | +0.13 |
Drawdowns
CMCI vs. MOAT - Drawdown Comparison
The maximum CMCI drawdown since its inception was -11.54%, smaller than the maximum MOAT drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for CMCI and MOAT.
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Drawdown Indicators
| CMCI | MOAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.54% | -33.31% | +21.77% |
Max Drawdown (1Y)Largest decline over 1 year | -5.03% | -12.43% | +7.40% |
Max Drawdown (3Y)Largest decline over 3 years | — | -21.44% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.96% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.31% | — |
Current DrawdownCurrent decline from peak | -3.94% | -3.88% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -3.54% | -3.83% | +0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 3.98% | -2.05% |
Volatility
CMCI vs. MOAT - Volatility Comparison
VanEck CMCI Commodity Strategy ETF (CMCI) has a higher volatility of 4.29% compared to VanEck Morningstar Wide Moat ETF (MOAT) at 3.86%. This indicates that CMCI's price experiences larger fluctuations and is considered to be riskier than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMCI | MOAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.29% | 3.86% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 10.19% | 9.88% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.23% | 13.85% | -1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.63% | 18.18% | -5.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.63% | 18.68% | -6.05% |
CMCI vs. MOAT - Expense Ratio Comparison
CMCI has a 0.65% expense ratio, which is higher than MOAT's 0.47% expense ratio.
Dividends
CMCI vs. MOAT - Dividend Comparison
CMCI's dividend yield for the trailing twelve months is around 8.11%, more than MOAT's 1.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMCI VanEck CMCI Commodity Strategy ETF | 8.11% | 9.89% | 3.93% | 1.64% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MOAT VanEck Morningstar Wide Moat ETF | 1.36% | 1.36% | 1.37% | 0.86% | 1.25% | 1.08% | 1.46% | 1.31% | 1.79% | 1.07% | 1.17% | 2.13% |
Frequently Asked Questions
CMCI and MOAT have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMCI has higher volatility (4.29%) compared to MOAT (3.86%). In terms of maximum drawdown, CMCI dropped -11.54% vs MOAT's -33.31%.
On 1-year performance, CMCI leads with 29.90% vs 15.51% for MOAT. On fees, MOAT is cheaper at 0.47% per year. On volatility, MOAT has been the lower-risk option at 3.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CMCI has performed better with a 29.90% return vs 15.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MOAT is cheaper with a 0.47% expense ratio, compared with 0.65% for CMCI.
CMCI has the higher dividend yield at 8.11%, compared with 1.36% for MOAT.
CMCI is categorized as Commodities, while MOAT is Large Cap Blend Equities. CMCI tracks UBS Bloomberg CMCI Composite Total Return Index, while MOAT tracks Morningstar Wide Moat Focus Index. Their fees differ too: 0.65% for CMCI and 0.47% for MOAT.
CMCI currently has the higher Sharpe Ratio (2.46 vs 1.12), 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.
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