CMDT vs. BCI
CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) and BCI (abrdn Bloomberg All Commodity Strategy K-1 Free ETF) are both Commodities funds - CMDT tracks the Bloomberg Roll Select Commodity Total Return Index while BCI tracks the Bloomberg Commodity Index Total Return. Both are passively managed. Over the past 3 years, CMDT returned 12.77%/yr vs 11.40%/yr for BCI. Their correlation of 0.88 suggests significant overlap in exposure. CMDT charges 0.65%/yr vs 0.26%/yr for BCI.
Performance
CMDT vs. BCI - Performance Comparison
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Returns By Period
In the year-to-date period, CMDT achieves a 13.43% return, which is significantly lower than BCI's 15.26% return.
CMDT
- 1D
- -1.14%
- 1M
- -8.86%
- YTD
- 13.43%
- 6M
- 13.42%
- 1Y
- 21.34%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
BCI
- 1D
- -1.23%
- 1M
- -9.78%
- YTD
- 15.26%
- 6M
- 13.54%
- 1Y
- 23.04%
- 3Y*
- 11.40%
- 5Y*
- 9.52%
- 10Y*
- —
CMDT vs. BCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 13.43% | 12.78% | 6.93% | 5.37% |
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 15.26% | 15.07% | 5.47% | -1.80% |
Correlation
The correlation between CMDT and BCI is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | 0.88 |
The correlation between CMDT and BCI has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.
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Return for Risk
CMDT vs. BCI — Risk / Return Rank
CMDT
BCI
CMDT vs. BCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI). 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.
| CMDT | BCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.25 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 1.76 | +0.17 |
| Martin ratioReturn relative to average drawdown | 9.62 | 6.95 | +2.67 |
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Drawdowns
CMDT vs. BCI - Drawdown Comparison
The maximum CMDT drawdown since its inception was -11.11%, smaller than the maximum BCI drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for CMDT and BCI.
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Drawdown Indicators
| CMDT | BCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.11% | -32.69% | +21.58% |
Max Drawdown (1Y)Largest decline over 1 year | -11.11% | -13.12% | +2.01% |
Max Drawdown (3Y)Largest decline over 3 years | -11.11% | -13.12% | +2.01% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.50% | — |
Current DrawdownCurrent decline from peak | -11.11% | -13.12% | +2.01% |
Average DrawdownAverage peak-to-trough decline | -2.77% | -11.99% | +9.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 3.34% | -1.09% |
Volatility
CMDT vs. BCI - Volatility Comparison
The current volatility for PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) is 3.26%, while abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) has a volatility of 3.55%. This indicates that CMDT experiences smaller price fluctuations and is considered to be less risky than BCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMDT | BCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.26% | 3.55% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 10.60% | 14.98% | -4.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.65% | 17.20% | -4.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.24% | 16.79% | -4.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.24% | 15.65% | -3.41% |
CMDT vs. BCI - Expense Ratio Comparison
CMDT has a 0.65% expense ratio, which is higher than BCI's 0.26% expense ratio.
Dividends
CMDT vs. BCI - Dividend Comparison
CMDT's dividend yield for the trailing twelve months is around 2.67%, less than BCI's 14.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCI abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 14.30% | 16.49% | 3.29% | 3.93% | 19.98% | 19.43% | 0.68% | 1.47% | 1.13% | 5.02% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 2.67% | 3.04% | 8.80% | 2.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CMDT and BCI have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BCI has higher volatility (3.55%) compared to CMDT (3.26%). In terms of maximum drawdown, CMDT dropped -11.11% vs BCI's -32.69%.
On 3-year performance, CMDT leads with 12.77% vs 11.40% for BCI. On fees, BCI is cheaper at 0.26% per year. On volatility, CMDT has been the lower-risk option at 3.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CMDT has performed better with a 12.77% return vs 11.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BCI is cheaper with a 0.26% expense ratio, compared with 0.65% for CMDT.
BCI has the higher dividend yield at 14.30%, compared with 2.67% for CMDT.
CMDT tracks Bloomberg Roll Select Commodity Total Return Index, while BCI tracks Bloomberg Commodity Index Total Return. They also come from different issuers: PIMCO and Aberdeen. Their fees differ too: 0.65% for CMDT and 0.26% for BCI.
CMDT currently has the higher Sharpe Ratio (1.71 vs 1.36), 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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