CMDT vs. COM

Last updated Jun 23, 2026

CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) and COM (Direxion Auspice Broad Commodity Strategy ETF) are both Commodities funds - CMDT tracks the Bloomberg Roll Select Commodity Total Return Index while COM tracks the Auspice Broad Commodity ER Index. Both are passively managed. Over the past 3 years, CMDT returned 13.20%/yr vs 6.70%/yr for COM. A 0.73 correlation means they provide meaningful diversification when combined. CMDT charges 0.65%/yr vs 0.70%/yr for COM.

Performance

CMDT vs. COM - Performance Comparison

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

Returns By Period

In the year-to-date period, CMDT achieves a 14.74% return, which is significantly higher than COM's 12.48% return.

CMDT

• 1D: -0.69%
• 1M: -7.81%
• YTD: 14.74%
• 6M: 15.38%
• 1Y: 20.78%
• 3Y*: 13.20%
• 5Y*: —
• 10Y*: —

COM

• 1D: -0.24%
• 1M: -3.92%
• YTD: 12.48%
• 6M: 12.53%
• 1Y: 18.69%
• 3Y*: 6.70%
• 5Y*: 8.18%
• 10Y*: —

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

CMDT vs. COM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	14.74%	12.78%	6.93%	5.37%
COM Direxion Auspice Broad Commodity Strategy ETF	12.48%	7.72%	5.81%	-8.55%

Correlation

The correlation between CMDT and COM is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (All Time) Calculated using the full available price history since May 10, 2023	0.73

The correlation between CMDT and COM has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.

Return for Risk

CMDT vs. COM — Risk / Return Rank

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

CMDT

CMDT Risk / Return Rank: 48
CMDT Sharpe Ratio Rank: 49
CMDT Sortino Ratio Rank: 48
CMDT Omega Ratio Rank: 45
CMDT Calmar Ratio Rank: 43
CMDT Martin Ratio Rank: 57

COM

COM Risk / Return Rank: 54
COM Sharpe Ratio Rank: 54
COM Sortino Ratio Rank: 51
COM Omega Ratio Rank: 55
COM Calmar Ratio Rank: 57
COM Martin Ratio Rank: 54

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. COM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) and Direxion Auspice Broad Commodity Strategy ETF (COM). 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	COM	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.79	-0.13
Sortino ratio: Return per unit of downside risk	2.32	2.42	-0.10
Omega ratio: Gain probability vs. loss probability	1.28	1.33	-0.05
Calmar ratio: Return relative to maximum drawdown	2.07	2.76	-0.69
Martin ratio: Return relative to average drawdown	9.74	9.09	+0.65

CMDT vs. COM - Sharpe Ratio Comparison

The current CMDT Sharpe Ratio is 1.66, which is comparable to the COM Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of CMDT and COM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CMDT vs. COM - Drawdown Comparison

The maximum CMDT drawdown since its inception was -10.09%, smaller than the maximum COM drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for CMDT and COM.

Drawdown Indicators

	CMDT	COM	Difference
Max Drawdown Largest peak-to-trough decline	-10.09%	-15.95%	+5.86%
Max Drawdown (1Y) Largest decline over 1 year	-10.09%	-6.81%	-3.28%
Max Drawdown (3Y) Largest decline over 3 years	-10.09%	-8.50%	-1.59%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.02%	—
Current Drawdown Current decline from peak	-10.09%	-6.61%	-3.48%
Average Drawdown Average peak-to-trough decline	-2.76%	-6.28%	+3.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	2.10%	+0.18%

Volatility

CMDT vs. COM - Volatility Comparison

PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) has a higher volatility of 3.18% compared to Direxion Auspice Broad Commodity Strategy ETF (COM) at 2.13%. This indicates that CMDT's price experiences larger fluctuations and is considered to be riskier than COM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMDT	COM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	2.13%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	10.52%	8.54%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	12.62%	10.54%	+2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.23%	9.53%	+2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.23%	9.76%	+2.47%

CMDT vs. COM - Expense Ratio Comparison

CMDT has a 0.65% expense ratio, which is lower than COM's 0.70% expense ratio.

Dividends

CMDT vs. COM - Dividend Comparison

CMDT's dividend yield for the trailing twelve months is around 2.64%, more than COM's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	2.64%	3.04%	8.80%	2.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
COM Direxion Auspice Broad Commodity Strategy ETF	2.51%	2.99%	3.88%	3.80%	8.59%	10.32%	0.13%	1.09%	2.36%	0.09%

Frequently Asked Questions

Can I hold both CMDT and COM in my portfolio?

CMDT and COM have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMDT or COM?

CMDT has higher volatility (3.18%) compared to COM (2.13%). In terms of maximum drawdown, CMDT dropped -10.09% vs COM's -15.95%.

Which ETF is better, CMDT or COM?

On 3-year performance, CMDT leads with 13.20% vs 6.70% for COM. On fees, CMDT is cheaper at 0.65% per year. On volatility, COM has been the lower-risk option at 2.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CMDT or COM?

Over the 3-year period, CMDT has performed better with a 13.20% return vs 6.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CMDT or COM?

CMDT is cheaper with a 0.65% expense ratio, compared with 0.70% for COM.

Which ETF pays a higher dividend yield, CMDT or COM?

CMDT has the higher dividend yield at 2.64%, compared with 2.51% for COM.

What is the main difference between CMDT and COM?

CMDT tracks Bloomberg Roll Select Commodity Total Return Index, while COM tracks Auspice Broad Commodity ER Index. They also come from different issuers: PIMCO and Direxion. Their fees differ too: 0.65% for CMDT and 0.70% for COM.

Which has better risk-adjusted returns?

COM currently has the higher Sharpe Ratio (1.79 vs 1.66), 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.