CMOE.DE vs. VUAA.DE
CMOE.DE (Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc) and VUAA.DE (Vanguard S&P 500 UCITS USD Acc ETF) are both exchange-traded funds - CMOE.DE is a Commodities fund tracking the Bloomberg Commodity (EUR Hedged), while VUAA.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, CMOE.DE returned 13.22%/yr vs 18.87%/yr for VUAA.DE. At a 0.09 correlation, their price movements are largely independent. CMOE.DE charges 0.24%/yr vs 0.07%/yr for VUAA.DE.
Performance
CMOE.DE vs. VUAA.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 higher than VUAA.DE's 11.41% return.
CMOE.DE
- 1D
- -1.32%
- 1M
- -1.55%
- YTD
- 21.57%
- 6M
- 21.82%
- 1Y
- 33.83%
- 3Y*
- 13.22%
- 5Y*
- —
- 10Y*
- —
VUAA.DE
- 1D
- -0.12%
- 1M
- 5.23%
- YTD
- 11.41%
- 6M
- 11.44%
- 1Y
- 25.64%
- 3Y*
- 18.87%
- 5Y*
- 14.77%
- 10Y*
- —
CMOE.DE vs. VUAA.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% |
VUAA.DE Vanguard S&P 500 UCITS USD Acc ETF | 11.41% | 4.68% | 32.33% | 22.52% | -5.69% |
Correlation
The correlation between CMOE.DE and VUAA.DE 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 | 0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2022 | 0.09 |
The correlation between CMOE.DE and VUAA.DE shifts across timeframes, from -0.11 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CMOE.DE vs. VUAA.DE — Risk / Return Rank
CMOE.DE
VUAA.DE
CMOE.DE vs. VUAA.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 Vanguard S&P 500 UCITS USD Acc ETF (VUAA.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 | VUAA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.41 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.49 | 3.56 | +0.93 |
| Martin ratioReturn relative to average drawdown | 10.26 | 12.74 | -2.48 |
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 | VUAA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 2.20 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.97 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.81 | -0.45 |
Drawdowns
CMOE.DE vs. VUAA.DE - Drawdown Comparison
The maximum CMOE.DE drawdown since its inception was -29.97%, smaller than the maximum VUAA.DE drawdown of -33.67%. Use the drawdown chart below to compare losses from any high point for CMOE.DE and VUAA.DE.
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Drawdown Indicators
| CMOE.DE | VUAA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.97% | -33.67% | +3.70% |
Max Drawdown (1Y)Largest decline over 1 year | -7.70% | -7.16% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -11.83% | -23.33% | +11.50% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.33% | — |
Current DrawdownCurrent decline from peak | -5.48% | -0.45% | -5.03% |
Average DrawdownAverage peak-to-trough decline | -19.33% | -5.07% | -14.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.38% | 2.01% | +1.37% |
Volatility
CMOE.DE vs. VUAA.DE - Volatility Comparison
Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE) has a higher volatility of 5.18% compared to Vanguard S&P 500 UCITS USD Acc ETF (VUAA.DE) at 2.65%. This indicates that CMOE.DE's price experiences larger fluctuations and is considered to be riskier than VUAA.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 | VUAA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.18% | 2.65% | +2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 15.26% | 7.61% | +7.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.28% | 11.58% | +5.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.62% | 15.12% | +1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.62% | 17.59% | -0.97% |
CMOE.DE vs. VUAA.DE - Expense Ratio Comparison
CMOE.DE has a 0.24% expense ratio, which is higher than VUAA.DE'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
CMOE.DE vs. VUAA.DE - Dividend Comparison
Neither CMOE.DE nor VUAA.DE has paid dividends to shareholders.
Frequently Asked Questions
CMOE.DE and VUAA.DE 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.
On fees, VUAA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUAA.DE is cheaper with a 0.07% expense ratio, compared with 0.24% for CMOE.DE.
CMOE.DE is categorized as Commodities, while VUAA.DE is S&P 500. CMOE.DE tracks Bloomberg Commodity (EUR Hedged), while VUAA.DE tracks S&P 500 Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.24% for CMOE.DE and 0.07% for VUAA.DE.
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