CMOD.L vs. IDTL.L
CMOD.L (Invesco Bloomberg Commodity UCITS ETF) and IDTL.L (iShares Treasury Bond 20+ UCITS) are both exchange-traded funds - CMOD.L is a Commodities fund tracking the Bloomberg Commodity TR Index, while IDTL.L is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 5 years, CMOD.L returned 10.42%/yr vs -6.46%/yr for IDTL.L. At a correlation of -0.12, they often move in opposite directions. CMOD.L charges 0.19%/yr vs 0.07%/yr for IDTL.L.
Performance
CMOD.L vs. IDTL.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 IDTL.L's -1.84% 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*
- —
IDTL.L
- 1D
- -0.31%
- 1M
- -0.93%
- YTD
- -1.84%
- 6M
- -0.83%
- 1Y
- 3.79%
- 3Y*
- -1.72%
- 5Y*
- -6.46%
- 10Y*
- -1.75%
CMOD.L vs. IDTL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMOD.L Invesco Bloomberg Commodity UCITS ETF | 22.33% | 16.16% | 4.12% | -7.56% | 14.50% | 27.35% | -3.87% | 6.64% | -10.22% | 2.08% |
IDTL.L iShares Treasury Bond 20+ UCITS | -1.84% | 4.76% | -7.22% | 2.19% | -30.46% | -4.64% | 17.12% | 15.70% | -1.91% | 7.37% |
Correlation
The correlation between CMOD.L and IDTL.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 | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Jan 9, 2017 | -0.12 |
The correlation between CMOD.L and IDTL.L shifts across timeframes, from -0.25 (1 year) to -0.09 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CMOD.L vs. IDTL.L — Risk / Return Rank
CMOD.L
IDTL.L
CMOD.L vs. IDTL.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 Treasury Bond 20+ UCITS (IDTL.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 | IDTL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.07 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 4.60 | 0.49 | +4.11 |
| Martin ratioReturn relative to average drawdown | 10.43 | 1.23 | +9.21 |
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 | IDTL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.98 | 0.38 | +1.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | -0.43 | +1.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.12 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | -0.08 | +0.55 |
Drawdowns
CMOD.L vs. IDTL.L - Drawdown Comparison
The maximum CMOD.L drawdown since its inception was -33.16%, smaller than the maximum IDTL.L drawdown of -48.31%. Use the drawdown chart below to compare losses from any high point for CMOD.L and IDTL.L.
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Drawdown Indicators
| CMOD.L | IDTL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.16% | -48.31% | +15.15% |
Max Drawdown (1Y)Largest decline over 1 year | -7.28% | -7.72% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -11.65% | -18.59% | +6.94% |
Max Drawdown (5Y)Largest decline over 5 years | -26.86% | -43.00% | +16.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.31% | — |
Current DrawdownCurrent decline from peak | -7.23% | -40.77% | +33.54% |
Average DrawdownAverage peak-to-trough decline | -12.25% | -20.42% | +8.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 3.09% | +0.12% |
Volatility
CMOD.L vs. IDTL.L - Volatility Comparison
Invesco Bloomberg Commodity UCITS ETF (CMOD.L) has a higher volatility of 5.26% compared to iShares Treasury Bond 20+ UCITS (IDTL.L) at 3.45%. This indicates that CMOD.L's price experiences larger fluctuations and is considered to be riskier than IDTL.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 | IDTL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.26% | 3.45% | +1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 15.05% | 6.86% | +8.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.91% | 9.99% | +6.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.60% | 15.12% | +1.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.68% | 14.71% | -0.03% |
CMOD.L vs. IDTL.L - Expense Ratio Comparison
CMOD.L has a 0.19% expense ratio, which is higher than IDTL.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. IDTL.L - Dividend Comparison
CMOD.L has not paid dividends to shareholders, while IDTL.L's dividend yield for the trailing twelve months is around 4.39%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMOD.L Invesco Bloomberg Commodity UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IDTL.L iShares Treasury Bond 20+ UCITS | 4.39% | 4.31% | 4.66% | 3.79% | 3.01% | 1.74% | 1.76% | 2.49% | 2.79% | 2.59% | 2.63% | 2.14% |
Frequently Asked Questions
CMOD.L and IDTL.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, IDTL.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IDTL.L is cheaper with a 0.07% expense ratio, compared with 0.19% for CMOD.L.
CMOD.L is categorized as Commodities, while IDTL.L is Government Bonds. CMOD.L tracks Bloomberg Commodity TR Index, while IDTL.L tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for CMOD.L and 0.07% for IDTL.L.
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