CMOP.L vs. GBRE.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L) and SPDR® Dow Jones Global Real Estate UCITS ETF (GBRE.L).

CMOP.L and GBRE.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CMOP.L is a passively managed fund by Invesco that tracks the performance of the Bloomberg Commodity. It was launched on Jan 9, 2017. GBRE.L is a passively managed fund by State Street that tracks the performance of the FTSE EPRA Nareit Global TR USD. It was launched on Oct 23, 2012. Both CMOP.L and GBRE.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CMOP.L vs. GBRE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L) and SPDR® Dow Jones Global Real Estate UCITS ETF (GBRE.L). The values are adjusted to include any dividend payments, if applicable.

CMOP.L vs. GBRE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMOP.L Invesco Bloomberg Commodity UCITS ETF Acc	23.96%	8.23%	6.01%	-12.72%	28.44%	28.71%	-7.11%	3.31%	-5.01%	-5.69%
GBRE.L SPDR® Dow Jones Global Real Estate UCITS ETF	1.89%	1.33%	0.96%	5.25%	-16.29%	32.07%	-13.82%	16.79%	-0.14%	-1.92%

Different Trading Currencies

CMOP.L is traded in GBp, while GBRE.L is traded in GBP. To make them comparable, the GBRE.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, CMOP.L achieves a 23.96% return, which is significantly higher than GBRE.L's 1.89% return.

CMOP.L

• 1D: -2.28%
• 1M: 9.33%
• YTD: 23.96%
• 6M: 31.99%
• 1Y: 26.66%
• 3Y*: 10.51%
• 5Y*: 14.17%
• 10Y*: —

GBRE.L

• 1D: 0.60%
• 1M: -6.44%
• YTD: 1.89%
• 6M: 1.99%
• 1Y: 3.22%
• 3Y*: 3.98%
• 5Y*: 2.66%
• 10Y*: 3.28%

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

CMOP.L vs. GBRE.L - Expense Ratio Comparison

CMOP.L has a 0.19% expense ratio, which is lower than GBRE.L's 0.40% expense ratio.

GBRE.L

SPDR® Dow Jones Global Real Estate UCITS ETF

CMOP.L

Invesco Bloomberg Commodity UCITS ETF Acc

Return for Risk

CMOP.L vs. GBRE.L — Risk / Return Rank

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

CMOP.L

CMOP.L Risk / Return Rank: 80
CMOP.L Sharpe Ratio Rank: 81
CMOP.L Sortino Ratio Rank: 80
CMOP.L Omega Ratio Rank: 77
CMOP.L Calmar Ratio Rank: 92
CMOP.L Martin Ratio Rank: 71

GBRE.L

GBRE.L Risk / Return Rank: 18
GBRE.L Sharpe Ratio Rank: 17
GBRE.L Sortino Ratio Rank: 16
GBRE.L Omega Ratio Rank: 16
GBRE.L Calmar Ratio Rank: 20
GBRE.L Martin Ratio Rank: 21

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.

CMOP.L vs. GBRE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L) and SPDR® Dow Jones Global Real Estate UCITS ETF (GBRE.L). 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.

	CMOP.L	GBRE.L	Difference
Sharpe ratio Return per unit of total volatility	1.61	0.23	+1.37
Sortino ratio Return per unit of downside risk	2.14	0.40	+1.74
Omega ratio Gain probability vs. loss probability	1.30	1.05	+0.25
Calmar ratio Return relative to maximum drawdown	3.53	0.40	+3.13
Martin ratio Return relative to average drawdown	7.83	1.34	+6.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMOP.L vs. GBRE.L - Sharpe Ratio Comparison

The current CMOP.L Sharpe Ratio is 1.61, which is higher than the GBRE.L Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of CMOP.L and GBRE.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CMOP.L	GBRE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	0.23	+1.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.18	+0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.20	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.35	+0.09

Correlation

The correlation between CMOP.L and GBRE.L is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CMOP.L vs. GBRE.L - Dividend Comparison

CMOP.L has not paid dividends to shareholders, while GBRE.L's dividend yield for the trailing twelve months is around 0.78%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMOP.L Invesco Bloomberg Commodity UCITS ETF 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%
GBRE.L SPDR® Dow Jones Global Real Estate UCITS ETF	0.78%	1.45%	2.73%	2.66%	2.84%	1.79%	2.76%	3.25%	4.30%	3.99%	2.40%	2.09%

Drawdowns

CMOP.L vs. GBRE.L - Drawdown Comparison

The maximum CMOP.L drawdown since its inception was -28.78%, smaller than the maximum GBRE.L drawdown of -35.15%. Use the drawdown chart below to compare losses from any high point for CMOP.L and GBRE.L.

Drawdown Indicators

	CMOP.L	GBRE.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.78%	-35.15%	+6.37%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-10.42%	+1.01%
Max Drawdown (5Y) Largest decline over 5 years	-28.78%	-27.39%	-1.39%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.15%	—
Current Drawdown Current decline from peak	-2.28%	-9.73%	+7.45%
Average Drawdown Average peak-to-trough decline	-12.35%	-10.02%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	2.59%	+0.85%

Volatility

CMOP.L vs. GBRE.L - Volatility Comparison

Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L) has a higher volatility of 8.33% compared to SPDR® Dow Jones Global Real Estate UCITS ETF (GBRE.L) at 4.37%. This indicates that CMOP.L's price experiences larger fluctuations and is considered to be riskier than GBRE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMOP.L	GBRE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.33%	4.37%	+3.96%
Volatility (6M) Calculated over the trailing 6-month period	13.37%	8.30%	+5.07%
Volatility (1Y) Calculated over the trailing 1-year period	16.53%	13.69%	+2.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.12%	14.40%	+1.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.88%	16.02%	-1.14%