CMOD.L vs. KO

Last updated Jun 9, 2026

CMOD.L (Invesco Bloomberg Commodity UCITS ETF) is Commodities fund tracking the Bloomberg Commodity TR Index, while KO (The Coca-Cola Company) is a stock. Over the past 5 years, CMOD.L returned 10.42%/yr vs 10.72%/yr for KO. At a 0.04 correlation, their price movements are largely independent.

Performance

CMOD.L vs. KO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Bloomberg Commodity UCITS ETF (CMOD.L) and The Coca-Cola Company (KO). 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 KO's 14.56% 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*: —

KO

• 1D: 0.08%
• 1M: 1.43%
• YTD: 14.56%
• 6M: 14.00%
• 1Y: 14.71%
• 3Y*: 12.88%
• 5Y*: 10.72%
• 10Y*: 8.99%

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

CMOD.L vs. KO - 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%
KO The Coca-Cola Company	14.56%	15.60%	8.88%	-4.43%	10.61%	11.37%	2.47%	20.60%	6.77%	13.61%

Correlation

The correlation between CMOD.L and KO is -0.11, 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	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jan 9, 2017	0.04

The correlation between CMOD.L and KO shifts across timeframes, from -0.11 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CMOD.L vs. KO — 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

KO

KO Risk / Return Rank: 69
KO Sharpe Ratio Rank: 71
KO Sortino Ratio Rank: 66
KO Omega Ratio Rank: 61
KO Calmar Ratio Rank: 74
KO Martin Ratio Rank: 71

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. KO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Commodity UCITS ETF (CMOD.L) and The Coca-Cola Company (KO). 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	KO	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	1.49	+1.01
Omega ratio: Gain probability vs. loss probability	1.37	1.16	+0.20
Calmar ratio: Return relative to maximum drawdown	4.60	1.87	+2.73
Martin ratio: Return relative to average drawdown	10.43	3.66	+6.78
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. KO - Sharpe Ratio Comparison

The current CMOD.L Sharpe Ratio is 1.98, which is higher than the KO Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of CMOD.L and KO, 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	KO	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	0.67	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.53	-0.06

Drawdowns

CMOD.L vs. KO - Drawdown Comparison

The maximum CMOD.L drawdown since its inception was -33.16%, smaller than the maximum KO drawdown of -68.23%. Use the drawdown chart below to compare losses from any high point for CMOD.L and KO.

Drawdown Indicators

	CMOD.L	KO	Difference
Max Drawdown Largest peak-to-trough decline	-33.16%	-68.23%	+35.07%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	-7.89%	+0.61%
Max Drawdown (3Y) Largest decline over 3 years	-11.65%	-16.26%	+4.61%
Max Drawdown (5Y) Largest decline over 5 years	-26.86%	-17.27%	-9.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.99%	—
Current Drawdown Current decline from peak	-7.23%	-2.91%	-4.32%
Average Drawdown Average peak-to-trough decline	-12.25%	-16.09%	+3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	4.03%	-0.82%

Volatility

CMOD.L vs. KO - Volatility Comparison

The current volatility for Invesco Bloomberg Commodity UCITS ETF (CMOD.L) is 5.26%, while The Coca-Cola Company (KO) has a volatility of 5.81%. This indicates that CMOD.L experiences smaller price fluctuations and is considered to be less risky than KO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMOD.L	KO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	5.81%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	15.05%	12.37%	+2.68%
Volatility (1Y) Calculated over the trailing 1-year period	16.91%	16.37%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	16.10%	+0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.68%	18.21%	-3.53%

Dividends

CMOD.L vs. KO - Dividend Comparison

CMOD.L has not paid dividends to shareholders, while KO's dividend yield for the trailing twelve months is around 2.59%.

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%
KO The Coca-Cola Company	2.59%	2.92%	3.12%	3.12%	2.77%	2.84%	2.99%	2.89%	3.29%	3.23%	3.38%	3.07%

Frequently Asked Questions

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

CMOD.L and KO have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.