CMDT vs. BOND

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) and PIMCO Active Bond ETF (BOND).

CMDT and BOND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CMDT is a passively managed fund by PIMCO that tracks the performance of the Bloomberg Roll Select Commodity Total Return Index. It was launched on May 9, 2023. BOND is an actively managed fund by PIMCO. It was launched on Mar 1, 2012.

Performance

CMDT vs. BOND - Performance Comparison

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

CMDT vs. BOND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	16.96%	12.78%	6.93%	5.50%
BOND PIMCO Active Bond ETF	-0.02%	8.39%	2.77%	2.57%

Returns By Period

In the year-to-date period, CMDT achieves a 16.96% return, which is significantly higher than BOND's -0.02% return.

CMDT

• 1D: -0.74%
• 1M: 8.58%
• YTD: 16.96%
• 6M: 19.62%
• 1Y: 24.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BOND

• 1D: 0.25%
• 1M: -2.06%
• YTD: -0.02%
• 6M: 1.43%
• 1Y: 5.07%
• 3Y*: 4.76%
• 5Y*: 0.62%
• 10Y*: 2.24%

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

CMDT vs. BOND - Expense Ratio Comparison

CMDT has a 0.65% expense ratio, which is higher than BOND's 0.54% expense ratio.

CMDT

PIMCO Commodity Strategy Active Exchange-Traded Fund

BOND

PIMCO Active Bond ETF

Return for Risk

CMDT vs. BOND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMDT

CMDT Risk / Return Rank: 87
CMDT Sharpe Ratio Rank: 88
CMDT Sortino Ratio Rank: 89
CMDT Omega Ratio Rank: 85
CMDT Calmar Ratio Rank: 87
CMDT Martin Ratio Rank: 86

BOND

BOND Risk / Return Rank: 60
BOND Sharpe Ratio Rank: 65
BOND Sortino Ratio Rank: 62
BOND Omega Ratio Rank: 56
BOND Calmar Ratio Rank: 66
BOND Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMDT vs. BOND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) and PIMCO Active Bond ETF (BOND). 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.

	CMDT	BOND	Difference
Sharpe ratio Return per unit of total volatility	1.85	1.08	+0.77
Sortino ratio Return per unit of downside risk	2.50	1.51	+0.99
Omega ratio Gain probability vs. loss probability	1.34	1.20	+0.14
Calmar ratio Return relative to maximum drawdown	2.72	1.58	+1.14
Martin ratio Return relative to average drawdown	10.00	4.65	+5.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMDT vs. BOND - Sharpe Ratio Comparison

The current CMDT Sharpe Ratio is 1.85, which is higher than the BOND Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of CMDT and BOND, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CMDT	BOND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	1.08	+0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.11	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	0.63	+0.59

Correlation

The correlation between CMDT and BOND is -0.05. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

CMDT vs. BOND - Dividend Comparison

CMDT's dividend yield for the trailing twelve months is around 2.60%, less than BOND's 5.18% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	2.60%	3.04%	8.80%	2.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BOND PIMCO Active Bond ETF	5.18%	5.11%	5.02%	4.06%	3.44%	2.58%	2.66%	3.38%	3.18%	2.87%	2.85%	4.14%

Drawdowns

CMDT vs. BOND - Drawdown Comparison

The maximum CMDT drawdown since its inception was -9.69%, smaller than the maximum BOND drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for CMDT and BOND.

Drawdown Indicators

	CMDT	BOND	Difference
Max Drawdown Largest peak-to-trough decline	-9.69%	-19.71%	+10.02%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-3.29%	-5.92%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.71%	—
Current Drawdown Current decline from peak	-0.74%	-2.06%	+1.32%
Average Drawdown Average peak-to-trough decline	-2.79%	-3.53%	+0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	1.12%	+1.39%

Volatility

CMDT vs. BOND - Volatility Comparison

PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) has a higher volatility of 5.26% compared to PIMCO Active Bond ETF (BOND) at 1.82%. This indicates that CMDT's price experiences larger fluctuations and is considered to be riskier than BOND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMDT	BOND	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	1.82%	+3.44%
Volatility (6M) Calculated over the trailing 6-month period	9.59%	2.70%	+6.89%
Volatility (1Y) Calculated over the trailing 1-year period	13.23%	4.72%	+8.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.13%	5.73%	+6.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.13%	5.07%	+7.06%