COMT vs. XES
COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) and XES (SPDR S&P Oil & Gas Equipment & Services ETF) are both exchange-traded funds - COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index, while XES is a Energy Equities fund tracking the S&P Oil & Gas Equipment & Services Select Industry Index. Both are passively managed. Over the past 10 years, COMT returned 7.87%/yr vs -4.13%/yr for XES. A 0.64 correlation means they provide meaningful diversification when combined. COMT charges 0.48%/yr vs 0.35%/yr for XES.
Performance
COMT vs. XES - Performance Comparison
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Returns By Period
In the year-to-date period, COMT achieves a 26.00% return, which is significantly lower than XES's 37.45% return. Over the past 10 years, COMT has outperformed XES with an annualized return of 7.87%, while XES has yielded a comparatively lower -4.13% annualized return.
COMT
- 1D
- -0.17%
- 1M
- -4.70%
- 6M
- 23.49%
- YTD
- 26.00%
- 1Y
- 27.75%
- 3Y*
- 11.57%
- 5Y*
- 11.09%
- 10Y*
- 7.87%
XES
- 1D
- 1.64%
- 1M
- -8.57%
- 6M
- 26.49%
- YTD
- 37.45%
- 1Y
- 65.04%
- 3Y*
- 10.31%
- 5Y*
- 14.19%
- 10Y*
- -4.13%
COMT vs. XES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 26.00% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
XES SPDR S&P Oil & Gas Equipment & Services ETF | 37.45% | 5.89% | -5.44% | 6.68% | 62.03% | 12.00% | -43.38% | -9.00% | -46.99% | -21.93% |
Correlation
The correlation between COMT and XES is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.64 |
Over the past year, the correlation between COMT and XES has dropped to 0.43 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.
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Return for Risk
COMT vs. XES — Risk / Return Rank
COMT
XES
COMT vs. XES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| COMT | XES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.34 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 3.18 | -1.52 |
| Martin ratioReturn relative to average drawdown | 5.78 | 11.53 | -5.75 |
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Drawdowns
COMT vs. XES - Drawdown Comparison
The maximum COMT drawdown since its inception was -51.89%, smaller than the maximum XES drawdown of -95.65%. Use the drawdown chart below to compare losses from any high point for COMT and XES.
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Drawdown Indicators
| COMT | XES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.89% | -95.65% | +43.76% |
Max Drawdown (1Y)Largest decline over 1 year | -17.57% | -20.69% | +3.12% |
Max Drawdown (3Y)Largest decline over 3 years | -17.57% | -45.95% | +28.38% |
Max Drawdown (5Y)Largest decline over 5 years | -29.00% | -45.95% | +16.95% |
Max Drawdown (10Y)Largest decline over 10 years | -39.22% | -91.23% | +52.01% |
Current DrawdownCurrent decline from peak | -14.13% | -73.46% | +59.33% |
Average DrawdownAverage peak-to-trough decline | -23.97% | -54.44% | +30.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.05% | 5.70% | -0.65% |
Volatility
COMT vs. XES - Volatility Comparison
The current volatility for iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) is 5.68%, while SPDR S&P Oil & Gas Equipment & Services ETF (XES) has a volatility of 9.22%. This indicates that COMT experiences smaller price fluctuations and is considered to be less risky than XES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COMT | XES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.68% | 9.22% | -3.54% |
Volatility (6M)Calculated over the trailing 6-month period | 19.60% | 21.50% | -1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.45% | 30.96% | -9.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.17% | 38.85% | -17.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.84% | 44.88% | -26.04% |
COMT vs. XES - Expense Ratio Comparison
COMT has a 0.48% expense ratio, which is higher than XES's 0.35% expense ratio.
Dividends
COMT vs. XES - Dividend Comparison
COMT's dividend yield for the trailing twelve months is around 6.14%, more than XES's 1.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 6.14% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
XES SPDR S&P Oil & Gas Equipment & Services ETF | 1.16% | 1.69% | 1.31% | 0.66% | 0.36% | 1.81% | 1.33% | 1.43% | 1.14% | 1.68% | 0.64% | 2.47% |
Frequently Asked Questions
COMT and XES have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XES has higher volatility (9.22%) compared to COMT (5.68%). In terms of maximum drawdown, COMT dropped -51.89% vs XES's -95.65%.
On 10-year performance, COMT leads with 7.87% vs -4.13% for XES. On fees, XES is cheaper at 0.35% per year. On volatility, COMT has been the lower-risk option at 5.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, COMT has performed better with a 7.87% return vs -4.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XES is cheaper with a 0.35% expense ratio, compared with 0.48% for COMT.
COMT has the higher dividend yield at 6.14%, compared with 1.16% for XES.
COMT is categorized as Commodities, while XES is Energy Equities. COMT tracks S&P GSCI Dynamic Roll (USD) Total Return Index, while XES tracks S&P Oil & Gas Equipment & Services Select Industry Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.48% for COMT and 0.35% for XES.
XES currently has the higher Sharpe Ratio (2.13 vs 1.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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