CMOD.L vs. 8PSG.DE
CMOD.L (Invesco Bloomberg Commodity UCITS ETF) and 8PSG.DE (Invesco Physical Gold ETC) are both exchange-traded funds - CMOD.L is a Commodities fund tracking the Bloomberg Commodity TR Index, while 8PSG.DE is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, CMOD.L returned 9.74%/yr vs 18.60%/yr for 8PSG.DE. At a 0.36 correlation, their price movements are largely independent. CMOD.L charges 0.19%/yr vs 0.12%/yr for 8PSG.DE.
Performance
CMOD.L vs. 8PSG.DE - Performance Comparison
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Different Trading Currencies
CMOD.L is traded in USD, while 8PSG.DE is traded in EUR. To make them comparable, the 8PSG.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CMOD.L achieves a 19.22% return, which is significantly higher than 8PSG.DE's 1.53% return.
CMOD.L
- 1D
- -1.06%
- 1M
- -8.02%
- YTD
- 19.22%
- 6M
- 20.80%
- 1Y
- 27.62%
- 3Y*
- 13.33%
- 5Y*
- 9.74%
- 10Y*
- —
8PSG.DE
- 1D
- 0.69%
- 1M
- -4.84%
- YTD
- 1.53%
- 6M
- 4.30%
- 1Y
- 31.64%
- 3Y*
- 31.51%
- 5Y*
- 18.60%
- 10Y*
- —
CMOD.L vs. 8PSG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CMOD.L Invesco Bloomberg Commodity UCITS ETF | 19.22% | 16.16% | 4.12% | -7.56% | 14.50% | 27.35% | 9.56% |
8PSG.DE Invesco Physical Gold ETC | 1.53% | 68.18% | 26.61% | 12.89% | 1.11% | -4.38% | 16.65% |
Correlation
The correlation between CMOD.L and 8PSG.DE is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020 | 0.36 |
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Return for Risk
CMOD.L vs. 8PSG.DE — Risk / Return Rank
CMOD.L
8PSG.DE
CMOD.L vs. 8PSG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Commodity UCITS ETF (CMOD.L) and Invesco Physical Gold ETC (8PSG.DE). 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.
| CMOD.L | 8PSG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.25 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.07 | 1.88 | +1.19 |
| Martin ratioReturn relative to average drawdown | 8.68 | 4.79 | +3.89 |
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Drawdowns
CMOD.L vs. 8PSG.DE - Drawdown Comparison
The maximum CMOD.L drawdown since its inception was -33.16%, which is greater than 8PSG.DE's maximum drawdown of -21.38%. Use the drawdown chart below to compare losses from any high point for CMOD.L and 8PSG.DE.
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Drawdown Indicators
| CMOD.L | 8PSG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.16% | -21.38% | -11.78% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -17.16% | +7.57% |
Max Drawdown (3Y)Largest decline over 3 years | -11.65% | -17.16% | +5.51% |
Max Drawdown (5Y)Largest decline over 5 years | -26.86% | -21.38% | -5.48% |
Current DrawdownCurrent decline from peak | -9.59% | -15.62% | +6.03% |
Average DrawdownAverage peak-to-trough decline | -12.24% | -6.92% | -5.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 6.75% | -3.35% |
Volatility
CMOD.L vs. 8PSG.DE - Volatility Comparison
The current volatility for Invesco Bloomberg Commodity UCITS ETF (CMOD.L) is 4.36%, while Invesco Physical Gold ETC (8PSG.DE) has a volatility of 5.66%. This indicates that CMOD.L experiences smaller price fluctuations and is considered to be less risky than 8PSG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMOD.L | 8PSG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | 5.66% | -1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 15.04% | 21.07% | -6.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.99% | 24.33% | -7.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.61% | 17.32% | -0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.68% | 17.49% | -2.81% |
CMOD.L vs. 8PSG.DE - Expense Ratio Comparison
CMOD.L has a 0.19% expense ratio, which is higher than 8PSG.DE's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CMOD.L vs. 8PSG.DE - Dividend Comparison
Neither CMOD.L nor 8PSG.DE has paid dividends to shareholders.
Frequently Asked Questions
CMOD.L and 8PSG.DE have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 8PSG.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
8PSG.DE is cheaper with a 0.12% expense ratio, compared with 0.19% for CMOD.L.
CMOD.L is categorized as Commodities, while 8PSG.DE is Gold. CMOD.L tracks Bloomberg Commodity TR Index, while 8PSG.DE tracks LBMA Gold Price PM. Their fees differ too: 0.19% for CMOD.L and 0.12% for 8PSG.DE.
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