CMOD.L vs. HYUS.L
CMOD.L (Invesco Bloomberg Commodity UCITS ETF) and HYUS.L (iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist)) are both exchange-traded funds - CMOD.L is a Commodities fund tracking the Bloomberg Commodity TR Index, while HYUS.L is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 3 years, CMOD.L returned 12.27%/yr vs 8.37%/yr for HYUS.L. At a 0.14 correlation, their price movements are largely independent. CMOD.L charges 0.19%/yr vs 0.20%/yr for HYUS.L.
Performance
CMOD.L vs. HYUS.L - Performance Comparison
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Returns By Period
In the year-to-date period, CMOD.L achieves a 20.12% return, which is significantly higher than HYUS.L's 1.44% return.
CMOD.L
- 1D
- -0.16%
- 1M
- 1.48%
- 6M
- 15.29%
- YTD
- 20.12%
- 1Y
- 29.88%
- 3Y*
- 12.27%
- 5Y*
- 10.03%
- 10Y*
- —
HYUS.L
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.44%
- YTD
- 1.44%
- 1Y
- 5.89%
- 3Y*
- 8.37%
- 5Y*
- —
- 10Y*
- —
CMOD.L vs. HYUS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CMOD.L Invesco Bloomberg Commodity UCITS ETF | 20.12% | 16.16% | 4.12% | -7.56% | -9.62% |
HYUS.L iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | 1.44% | 8.55% | 8.46% | 12.87% | -6.58% |
Correlation
The correlation between CMOD.L and HYUS.L is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.14 |
The correlation between CMOD.L and HYUS.L shifts across timeframes, from -0.15 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CMOD.L vs. HYUS.L — Risk / Return Rank
CMOD.L
HYUS.L
CMOD.L vs. HYUS.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 Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (HYUS.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 | HYUS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.26 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 2.79 | -0.73 |
| Martin ratioReturn relative to average drawdown | 6.61 | 10.82 | -4.21 |
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Drawdowns
CMOD.L vs. HYUS.L - Drawdown Comparison
The maximum CMOD.L drawdown since its inception was -33.16%, which is greater than HYUS.L's maximum drawdown of -11.00%. Use the drawdown chart below to compare losses from any high point for CMOD.L and HYUS.L.
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Drawdown Indicators
| CMOD.L | HYUS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.16% | -11.00% | -22.16% |
Max Drawdown (1Y)Largest decline over 1 year | -14.44% | -2.10% | -12.34% |
Max Drawdown (3Y)Largest decline over 3 years | -14.44% | -5.23% | -9.21% |
Max Drawdown (5Y)Largest decline over 5 years | -26.86% | — | — |
Current DrawdownCurrent decline from peak | -8.91% | -0.63% | -8.28% |
Average DrawdownAverage peak-to-trough decline | -12.24% | -1.84% | -10.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.51% | 0.54% | +3.97% |
Volatility
CMOD.L vs. HYUS.L - Volatility Comparison
Invesco Bloomberg Commodity UCITS ETF (CMOD.L) has a higher volatility of 4.66% compared to iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) (HYUS.L) at 1.17%. This indicates that CMOD.L's price experiences larger fluctuations and is considered to be riskier than HYUS.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 | HYUS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.66% | 1.17% | +3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 15.08% | 3.27% | +11.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.03% | 4.29% | +12.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.57% | 6.86% | +9.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.69% | 6.86% | +7.83% |
CMOD.L vs. HYUS.L - Expense Ratio Comparison
CMOD.L has a 0.19% expense ratio, which is lower than HYUS.L's 0.20% expense ratio. Despite the difference, 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. HYUS.L - Dividend Comparison
CMOD.L has not paid dividends to shareholders, while HYUS.L's dividend yield for the trailing twelve months is around 9.19%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CMOD.L Invesco Bloomberg Commodity UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYUS.L iShares Broad USD High Yield Corporate Bond UCITS ETF USD (Dist) | 9.19% | 7.38% | 7.53% | 6.31% | 1.53% |
Frequently Asked Questions
CMOD.L and HYUS.L have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMOD.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMOD.L is cheaper with a 0.19% expense ratio, compared with 0.20% for HYUS.L.
CMOD.L is categorized as Commodities, while HYUS.L is High Yield Bonds. CMOD.L tracks Bloomberg Commodity TR Index, while HYUS.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for CMOD.L and 0.20% for HYUS.L.
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