CMOE.DE vs. ASME.DE

Last updated Jun 5, 2026

CMOE.DE (Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc) is Commodities fund tracking the Bloomberg Commodity (EUR Hedged), while ASME.DE (ASML Holding NV) is a stock. Over the past 3 years, CMOE.DE returned 13.22%/yr vs 31.32%/yr for ASME.DE. At a 0.07 correlation, their price movements are largely independent.

Performance

CMOE.DE vs. ASME.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE) and ASML Holding NV (ASME.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMOE.DE achieves a 21.57% return, which is significantly lower than ASME.DE's 62.75% return.

CMOE.DE

• 1D: -1.32%
• 1M: -1.55%
• YTD: 21.57%
• 6M: 21.82%
• 1Y: 33.83%
• 3Y*: 13.22%
• 5Y*: —
• 10Y*: —

ASME.DE

• 1D: 1.04%
• 1M: 14.87%
• YTD: 62.75%
• 6M: 57.53%
• 1Y: 128.79%
• 3Y*: 31.32%
• 5Y*: 22.91%
• 10Y*: 33.90%

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

CMOE.DE vs. ASME.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CMOE.DE Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc	21.57%	14.96%	2.92%	-9.62%	-0.48%
ASME.DE ASML Holding NV	62.75%	37.42%	-0.38%	36.52%	-10.06%

Correlation

The correlation between CMOE.DE and ASME.DE 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	0.03
Correlation (All Time) Calculated using the full available price history since Feb 21, 2022	0.07

The correlation between CMOE.DE and ASME.DE shifts across timeframes, from -0.15 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CMOE.DE vs. ASME.DE — Risk / Return Rank

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

CMOE.DE

CMOE.DE Risk / Return Rank: 63
CMOE.DE Sharpe Ratio Rank: 61
CMOE.DE Sortino Ratio Rank: 52
CMOE.DE Omega Ratio Rank: 61
CMOE.DE Calmar Ratio Rank: 84
CMOE.DE Martin Ratio Rank: 59

ASME.DE

ASME.DE Risk / Return Rank: 94
ASME.DE Sharpe Ratio Rank: 95
ASME.DE Sortino Ratio Rank: 93
ASME.DE Omega Ratio Rank: 92
ASME.DE Calmar Ratio Rank: 96
ASME.DE Martin Ratio Rank: 96

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.

CMOE.DE vs. ASME.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE) and ASML Holding NV (ASME.DE). 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.

	CMOE.DE	ASME.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.00	3.29	-1.29
Sortino ratio: Return per unit of downside risk	2.50	3.69	-1.19
Omega ratio: Gain probability vs. loss probability	1.37	1.48	-0.11
Calmar ratio: Return relative to maximum drawdown	4.49	8.20	-3.71
Martin ratio: Return relative to average drawdown	10.26	21.35	-11.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMOE.DE vs. ASME.DE - Sharpe Ratio Comparison

The current CMOE.DE Sharpe Ratio is 2.00, which is lower than the ASME.DE Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of CMOE.DE and ASME.DE, 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

	CMOE.DE	ASME.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	3.29	-1.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.60	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.96	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.38	-0.01

Drawdowns

CMOE.DE vs. ASME.DE - Drawdown Comparison

The maximum CMOE.DE drawdown since its inception was -29.97%, smaller than the maximum ASME.DE drawdown of -88.84%. Use the drawdown chart below to compare losses from any high point for CMOE.DE and ASME.DE.

Drawdown Indicators

	CMOE.DE	ASME.DE	Difference
Max Drawdown Largest peak-to-trough decline	-29.97%	-88.84%	+58.87%
Max Drawdown (1Y) Largest decline over 1 year	-7.70%	-15.76%	+8.06%
Max Drawdown (3Y) Largest decline over 3 years	-11.83%	-44.67%	+32.84%
Max Drawdown (5Y) Largest decline over 5 years	—	-47.94%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.94%	—
Current Drawdown Current decline from peak	-5.48%	0.00%	-5.48%
Average Drawdown Average peak-to-trough decline	-19.33%	-30.86%	+11.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	6.07%	-2.69%

Volatility

CMOE.DE vs. ASME.DE - Volatility Comparison

The current volatility for Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE) is 5.18%, while ASML Holding NV (ASME.DE) has a volatility of 13.30%. This indicates that CMOE.DE experiences smaller price fluctuations and is considered to be less risky than ASME.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMOE.DE	ASME.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.18%	13.30%	-8.12%
Volatility (6M) Calculated over the trailing 6-month period	15.26%	29.97%	-14.71%
Volatility (1Y) Calculated over the trailing 1-year period	17.28%	39.25%	-21.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.62%	37.99%	-21.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.62%	35.43%	-18.81%

Dividends

CMOE.DE vs. ASME.DE - Dividend Comparison

CMOE.DE has not paid dividends to shareholders, while ASME.DE's dividend yield for the trailing twelve months is around 0.50%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASME.DE ASML Holding NV	0.50%	0.71%	0.92%	0.87%	1.27%	0.47%	0.64%	1.19%	1.02%	0.82%	0.99%	0.84%
CMOE.DE Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CMOE.DE and ASME.DE in my portfolio?

CMOE.DE and ASME.DE 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.