CMOD.L vs. EIMI.L
CMOD.L (Invesco Bloomberg Commodity UCITS ETF) and EIMI.L (iShares Core MSCI EM IMI UCITS ETF) are both exchange-traded funds - CMOD.L is a Commodities fund tracking the Bloomberg Commodity TR Index, while EIMI.L is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index. Both are passively managed. Over the past 5 years, CMOD.L returned 9.74%/yr vs 7.50%/yr for EIMI.L. At a 0.32 correlation, their price movements are largely independent. CMOD.L charges 0.19%/yr vs 0.18%/yr for EIMI.L.
Performance
CMOD.L vs. EIMI.L - Performance Comparison
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Returns By Period
In the year-to-date period, CMOD.L achieves a 19.22% return, which is significantly lower than EIMI.L's 22.83% 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*
- —
EIMI.L
- 1D
- 3.53%
- 1M
- 0.58%
- YTD
- 22.83%
- 6M
- 26.10%
- 1Y
- 45.08%
- 3Y*
- 21.64%
- 5Y*
- 7.50%
- 10Y*
- 10.60%
CMOD.L vs. EIMI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMOD.L Invesco Bloomberg Commodity UCITS ETF | 19.22% | 16.16% | 4.12% | -7.56% | 14.50% | 27.35% | -3.87% | 6.64% | -10.22% | 2.08% |
EIMI.L iShares Core MSCI EM IMI UCITS ETF | 22.83% | 32.16% | 7.36% | 11.03% | -19.67% | -0.65% | 18.80% | 16.37% | -14.18% | 34.56% |
Correlation
The correlation between CMOD.L and EIMI.L is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jan 9, 2017 | 0.32 |
Over the past year, the correlation between CMOD.L and EIMI.L has dropped to 0.00 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.
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Return for Risk
CMOD.L vs. EIMI.L — Risk / Return Rank
CMOD.L
EIMI.L
CMOD.L vs. EIMI.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 Core MSCI EM IMI UCITS ETF (EIMI.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.
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 | EIMI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.40 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.07 | 3.40 | -0.32 |
| Martin ratioReturn relative to average drawdown | 8.68 | 11.76 | -3.08 |
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Drawdowns
CMOD.L vs. EIMI.L - Drawdown Comparison
The maximum CMOD.L drawdown since its inception was -33.16%, smaller than the maximum EIMI.L drawdown of -38.73%. Use the drawdown chart below to compare losses from any high point for CMOD.L and EIMI.L.
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Drawdown Indicators
| CMOD.L | EIMI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.16% | -38.73% | +5.57% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -12.66% | +3.07% |
Max Drawdown (3Y)Largest decline over 3 years | -11.65% | -17.44% | +5.79% |
Max Drawdown (5Y)Largest decline over 5 years | -26.86% | -35.41% | +8.55% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.73% | — |
Current DrawdownCurrent decline from peak | -9.59% | -3.75% | -5.84% |
Average DrawdownAverage peak-to-trough decline | -12.24% | -13.99% | +1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 3.66% | -0.26% |
Volatility
CMOD.L vs. EIMI.L - Volatility Comparison
The current volatility for Invesco Bloomberg Commodity UCITS ETF (CMOD.L) is 4.36%, while iShares Core MSCI EM IMI UCITS ETF (EIMI.L) has a volatility of 8.37%. This indicates that CMOD.L experiences smaller price fluctuations and is considered to be less risky than EIMI.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 | EIMI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | 8.37% | -4.01% |
Volatility (6M)Calculated over the trailing 6-month period | 15.04% | 17.62% | -2.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.99% | 19.94% | -2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.61% | 18.46% | -1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.68% | 19.20% | -4.52% |
CMOD.L vs. EIMI.L - Expense Ratio Comparison
CMOD.L has a 0.19% expense ratio, which is higher than EIMI.L's 0.18% 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. EIMI.L - Dividend Comparison
Neither CMOD.L nor EIMI.L has paid dividends to shareholders.
Frequently Asked Questions
CMOD.L and EIMI.L have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EIMI.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EIMI.L is cheaper with a 0.18% expense ratio, compared with 0.19% for CMOD.L.
CMOD.L is categorized as Commodities, while EIMI.L is Emerging Markets Equities. CMOD.L tracks Bloomberg Commodity TR Index, while EIMI.L tracks MSCI Emerging Markets Investable Market Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for CMOD.L and 0.18% for EIMI.L.
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