CMOD.L vs. DTLA.L
CMOD.L (Invesco Bloomberg Commodity UCITS ETF) and DTLA.L (iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc)) are both exchange-traded funds - CMOD.L is a Commodities fund tracking the Bloomberg Commodity TR Index, while DTLA.L is a Government Bonds fund tracking the ICE US Treasury 20+ Year Index. Both are passively managed. Over the past 5 years, CMOD.L returned 10.42%/yr vs -6.50%/yr for DTLA.L. At a correlation of -0.14, they often move in opposite directions. CMOD.L charges 0.19%/yr vs 0.07%/yr for DTLA.L.
Performance
CMOD.L vs. DTLA.L - Performance Comparison
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Returns By Period
In the year-to-date period, CMOD.L achieves a 22.33% return, which is significantly higher than DTLA.L's -1.94% return.
CMOD.L
- 1D
- -0.15%
- 1M
- -3.74%
- YTD
- 22.33%
- 6M
- 22.42%
- 1Y
- 33.62%
- 3Y*
- 14.20%
- 5Y*
- 10.42%
- 10Y*
- —
DTLA.L
- 1D
- -0.44%
- 1M
- -1.08%
- YTD
- -1.94%
- 6M
- -0.87%
- 1Y
- 3.64%
- 3Y*
- -1.76%
- 5Y*
- -6.50%
- 10Y*
- —
CMOD.L vs. DTLA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CMOD.L Invesco Bloomberg Commodity UCITS ETF | 22.33% | 16.16% | 4.12% | -7.56% | 14.50% | 27.35% | -3.87% | 6.64% | -13.21% |
DTLA.L iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) | -1.94% | 4.49% | -6.90% | 1.69% | -30.29% | -4.46% | 17.00% | 15.69% | 3.65% |
Correlation
The correlation between CMOD.L and DTLA.L is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since May 11, 2018 | -0.14 |
The correlation between CMOD.L and DTLA.L shifts across timeframes, from -0.25 (1 year) to -0.08 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CMOD.L vs. DTLA.L — Risk / Return Rank
CMOD.L
DTLA.L
CMOD.L vs. DTLA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Commodity UCITS ETF (CMOD.L) and iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) (DTLA.L). 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.
| CMOD.L | DTLA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.62 | ||
| Sortino ratioReturn per unit of downside risk | +1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.07 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 4.60 | 0.48 | +4.12 |
| Martin ratioReturn relative to average drawdown | 10.43 | 1.23 | +9.20 |
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
| CMOD.L | DTLA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.98 | 0.36 | +1.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | -0.44 | +1.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | -0.08 | +0.55 |
Drawdowns
CMOD.L vs. DTLA.L - Drawdown Comparison
The maximum CMOD.L drawdown since its inception was -33.16%, smaller than the maximum DTLA.L drawdown of -48.41%. Use the drawdown chart below to compare losses from any high point for CMOD.L and DTLA.L.
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Drawdown Indicators
| CMOD.L | DTLA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.16% | -48.41% | +15.25% |
Max Drawdown (1Y)Largest decline over 1 year | -7.28% | -7.50% | +0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -11.65% | -18.57% | +6.92% |
Max Drawdown (5Y)Largest decline over 5 years | -26.86% | -42.80% | +15.94% |
Current DrawdownCurrent decline from peak | -7.23% | -41.04% | +33.81% |
Average DrawdownAverage peak-to-trough decline | -12.25% | -24.04% | +11.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 2.94% | +0.27% |
Volatility
CMOD.L vs. DTLA.L - Volatility Comparison
Invesco Bloomberg Commodity UCITS ETF (CMOD.L) has a higher volatility of 5.26% compared to iShares USD Treasury Bond 20+yr UCITS ETF USD (Acc) (DTLA.L) at 3.46%. This indicates that CMOD.L's price experiences larger fluctuations and is considered to be riskier than DTLA.L 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 | DTLA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.26% | 3.46% | +1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 15.05% | 6.77% | +8.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.91% | 10.03% | +6.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.60% | 14.96% | +1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.68% | 14.80% | -0.12% |
CMOD.L vs. DTLA.L - Expense Ratio Comparison
CMOD.L has a 0.19% expense ratio, which is higher than DTLA.L's 0.07% 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. DTLA.L - Dividend Comparison
Neither CMOD.L nor DTLA.L has paid dividends to shareholders.
Frequently Asked Questions
CMOD.L and DTLA.L have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DTLA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DTLA.L is cheaper with a 0.07% expense ratio, compared with 0.19% for CMOD.L.
CMOD.L is categorized as Commodities, while DTLA.L is Government Bonds. CMOD.L tracks Bloomberg Commodity TR Index, while DTLA.L tracks ICE US Treasury 20+ Year Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for CMOD.L and 0.07% for DTLA.L.
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