CMOE.DE vs. EXXY.DE
CMOE.DE (Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc) and EXXY.DE (iShares Diversified Commodity Swap UCITS ETF (DE)) are both Commodities funds - CMOE.DE tracks the Bloomberg Commodity (EUR Hedged) while EXXY.DE tracks the Bloomberg Commodity. Both are passively managed. Over the past 3 years, CMOE.DE returned 13.22%/yr vs 11.64%/yr for EXXY.DE. Their correlation of 0.83 suggests significant overlap in exposure. CMOE.DE charges 0.24%/yr vs 0.46%/yr for EXXY.DE.
Performance
CMOE.DE vs. EXXY.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CMOE.DE achieves a 21.57% return, which is significantly lower than EXXY.DE's 23.43% return.
CMOE.DE
- 1D
- -1.32%
- 1M
- -1.55%
- YTD
- 21.57%
- 6M
- 21.82%
- 1Y
- 33.83%
- 3Y*
- 13.22%
- 5Y*
- —
- 10Y*
- —
EXXY.DE
- 1D
- -1.47%
- 1M
- -0.31%
- YTD
- 23.43%
- 6M
- 22.49%
- 1Y
- 33.55%
- 3Y*
- 11.64%
- 5Y*
- 11.46%
- 10Y*
- 5.66%
CMOE.DE vs. EXXY.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% |
EXXY.DE iShares Diversified Commodity Swap UCITS ETF (DE) | 23.43% | 3.90% | 10.13% | -10.90% | 8.16% |
Correlation
The correlation between CMOE.DE and EXXY.DE is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2022 | 0.83 |
The correlation between CMOE.DE and EXXY.DE has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.
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Return for Risk
CMOE.DE vs. EXXY.DE — Risk / Return Rank
CMOE.DE
EXXY.DE
CMOE.DE vs. EXXY.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 iShares Diversified Commodity Swap UCITS ETF (DE) (EXXY.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 | EXXY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.32 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.49 | 3.78 | +0.72 |
| Martin ratioReturn relative to average drawdown | 10.26 | 8.41 | +1.85 |
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
| CMOE.DE | EXXY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 1.78 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.65 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.02 | +0.35 |
Drawdowns
CMOE.DE vs. EXXY.DE - Drawdown Comparison
The maximum CMOE.DE drawdown since its inception was -29.97%, smaller than the maximum EXXY.DE drawdown of -65.58%. Use the drawdown chart below to compare losses from any high point for CMOE.DE and EXXY.DE.
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Drawdown Indicators
| CMOE.DE | EXXY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.97% | -65.58% | +35.61% |
Max Drawdown (1Y)Largest decline over 1 year | -7.70% | -8.95% | +1.25% |
Max Drawdown (3Y)Largest decline over 3 years | -11.83% | -16.31% | +4.48% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.03% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.54% | — |
Current DrawdownCurrent decline from peak | -5.48% | -16.97% | +11.49% |
Average DrawdownAverage peak-to-trough decline | -19.33% | -40.08% | +20.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.38% | 4.03% | -0.65% |
Volatility
CMOE.DE vs. EXXY.DE - Volatility Comparison
The current volatility for Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE) is 5.18%, while iShares Diversified Commodity Swap UCITS ETF (DE) (EXXY.DE) has a volatility of 5.99%. This indicates that CMOE.DE experiences smaller price fluctuations and is considered to be less risky than EXXY.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMOE.DE | EXXY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.18% | 5.99% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 15.26% | 16.80% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.28% | 18.98% | -1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.62% | 17.55% | -0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.62% | 15.32% | +1.30% |
CMOE.DE vs. EXXY.DE - Expense Ratio Comparison
CMOE.DE has a 0.24% expense ratio, which is lower than EXXY.DE's 0.46% expense ratio.
Dividends
CMOE.DE vs. EXXY.DE - Dividend Comparison
Neither CMOE.DE nor EXXY.DE has paid dividends to shareholders.
Frequently Asked Questions
CMOE.DE and EXXY.DE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMOE.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMOE.DE is cheaper with a 0.24% expense ratio, compared with 0.46% for EXXY.DE.
CMOE.DE tracks Bloomberg Commodity (EUR Hedged), while EXXY.DE tracks Bloomberg Commodity. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.24% for CMOE.DE and 0.46% for EXXY.DE.
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