CMOD.L vs. JPM

Last updated Jun 9, 2026

CMOD.L (Invesco Bloomberg Commodity UCITS ETF) is Commodities fund tracking the Bloomberg Commodity TR Index, while JPM (JPMorgan Chase & Co.) is a stock. Over the past 5 years, CMOD.L returned 10.42%/yr vs 16.72%/yr for JPM. At a 0.12 correlation, their price movements are largely independent.

Performance

CMOD.L vs. JPM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Bloomberg Commodity UCITS ETF (CMOD.L) and JPMorgan Chase & Co. (JPM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMOD.L achieves a 22.33% return, which is significantly higher than JPM's -2.52% 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*: —

JPM

• 1D: -0.40%
• 1M: 2.98%
• YTD: -2.52%
• 6M: -0.35%
• 1Y: 19.35%
• 3Y*: 33.18%
• 5Y*: 16.72%
• 10Y*: 20.32%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CMOD.L vs. JPM - 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%
JPM JPMorgan Chase & Co.	-2.52%	37.27%	44.29%	30.63%	-12.64%	27.75%	-5.53%	47.26%	-6.62%	26.31%

Correlation

The correlation between CMOD.L and JPM 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	0.00
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jan 9, 2017	0.12

The correlation between CMOD.L and JPM shifts across timeframes, from 0.00 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CMOD.L vs. JPM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMOD.L

CMOD.L Risk / Return Rank: 69
CMOD.L Sharpe Ratio Rank: 67
CMOD.L Sortino Ratio Rank: 58
CMOD.L Omega Ratio Rank: 68
CMOD.L Calmar Ratio Rank: 88
CMOD.L Martin Ratio Rank: 64

JPM

JPM Risk / Return Rank: 66
JPM Sharpe Ratio Rank: 70
JPM Sortino Ratio Rank: 62
JPM Omega Ratio Rank: 62
JPM Calmar Ratio Rank: 66
JPM Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMOD.L vs. JPM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Commodity UCITS ETF (CMOD.L) and JPMorgan Chase & Co. (JPM). 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	JPM	Difference
Sharpe ratio: Return per unit of total volatility	1.98	0.90	+1.08
Sortino ratio: Return per unit of downside risk	2.50	1.30	+1.20
Omega ratio: Gain probability vs. loss probability	1.37	1.17	+0.20
Calmar ratio: Return relative to maximum drawdown	4.60	1.26	+3.34
Martin ratio: Return relative to average drawdown	10.43	2.98	+7.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMOD.L vs. JPM - Sharpe Ratio Comparison

The current CMOD.L Sharpe Ratio is 1.98, which is higher than the JPM Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of CMOD.L and JPM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CMOD.L	JPM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	0.90	+1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.69	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.34	+0.13

Drawdowns

CMOD.L vs. JPM - Drawdown Comparison

The maximum CMOD.L drawdown since its inception was -33.16%, smaller than the maximum JPM drawdown of -76.16%. Use the drawdown chart below to compare losses from any high point for CMOD.L and JPM.

Drawdown Indicators

	CMOD.L	JPM	Difference
Max Drawdown Largest peak-to-trough decline	-33.16%	-76.16%	+43.00%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	-15.47%	+8.19%
Max Drawdown (3Y) Largest decline over 3 years	-11.65%	-24.42%	+12.77%
Max Drawdown (5Y) Largest decline over 5 years	-26.86%	-38.77%	+11.91%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.63%	—
Current Drawdown Current decline from peak	-7.23%	-6.55%	-0.68%
Average Drawdown Average peak-to-trough decline	-12.25%	-17.62%	+5.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	6.50%	-3.29%

Volatility

CMOD.L vs. JPM - Volatility Comparison

The current volatility for Invesco Bloomberg Commodity UCITS ETF (CMOD.L) is 5.26%, while JPMorgan Chase & Co. (JPM) has a volatility of 6.40%. This indicates that CMOD.L experiences smaller price fluctuations and is considered to be less risky than JPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMOD.L	JPM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	6.40%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	15.05%	17.38%	-2.33%
Volatility (1Y) Calculated over the trailing 1-year period	16.91%	21.62%	-4.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	24.45%	-7.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.68%	27.40%	-12.72%

Dividends

CMOD.L vs. JPM - Dividend Comparison

CMOD.L has not paid dividends to shareholders, while JPM's dividend yield for the trailing twelve months is around 1.90%.

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%
JPM JPMorgan Chase & Co.	1.90%	1.72%	1.92%	2.38%	2.98%	2.34%	2.83%	2.37%	2.54%	1.91%	2.13%	2.54%

Frequently Asked Questions

Can I hold both CMOD.L and JPM in my portfolio?

CMOD.L and JPM 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.