CSH2.L vs. COMM.L
CSH2.L (Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc) and COMM.L (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - CSH2.L is a Money Market fund tracking the SONIA Compounded (GBP Hedged), while COMM.L is a Commodities fund tracking the Bloomberg Commodity. Both are passively managed. Over the past 5 years, CSH2.L returned 3.76%/yr vs 10.90%/yr for COMM.L. At a correlation of -0.04, they often move in opposite directions. CSH2.L charges 0.10%/yr vs 0.19%/yr for COMM.L.
Performance
CSH2.L vs. COMM.L - Performance Comparison
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Returns By Period
In the year-to-date period, CSH2.L achieves a 2.24% return, which is significantly lower than COMM.L's 20.96% return.
CSH2.L
- 1D
- 0.01%
- 1M
- 0.36%
- 6M
- 2.05%
- YTD
- 2.24%
- 1Y
- 4.33%
- 3Y*
- 4.98%
- 5Y*
- 3.76%
- 10Y*
- 2.12%
COMM.L
- 1D
- 0.89%
- 1M
- 2.16%
- 6M
- 16.85%
- YTD
- 20.96%
- 1Y
- 30.13%
- 3Y*
- 11.54%
- 5Y*
- 10.90%
- 10Y*
- —
CSH2.L vs. COMM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSH2.L Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc | 2.24% | 4.67% | 5.61% | 4.72% | 1.54% | 0.13% | 0.30% | 0.82% | 0.70% | 0.21% |
COMM.L iShares Diversified Commodity Swap UCITS ETF | 20.96% | 8.53% | 6.19% | -12.55% | 28.34% | 29.04% | -7.09% | 3.39% | -5.05% | -21.66% |
Correlation
The correlation between CSH2.L and COMM.L is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2017 | -0.04 |
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Return for Risk
CSH2.L vs. COMM.L — Risk / Return Rank
CSH2.L
COMM.L
CSH2.L vs. COMM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) and iShares Diversified Commodity Swap UCITS ETF (COMM.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.
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.
| CSH2.L | COMM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.24 | ||
| Sortino ratioReturn per unit of downside risk | +14.61 | ||
| Omega ratioGain probability vs. loss probability | 5.38 | 1.29 | +4.08 |
| Calmar ratioReturn relative to maximum drawdown | 27.35 | 2.27 | +25.09 |
| Martin ratioReturn relative to average drawdown | 175.24 | 6.93 | +168.31 |
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Drawdowns
CSH2.L vs. COMM.L - Drawdown Comparison
The maximum CSH2.L drawdown since its inception was -0.37%, smaller than the maximum COMM.L drawdown of -40.38%. Use the drawdown chart below to compare losses from any high point for CSH2.L and COMM.L.
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Drawdown Indicators
| CSH2.L | COMM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.37% | -40.38% | +40.01% |
Max Drawdown (1Y)Largest decline over 1 year | -0.16% | -13.24% | +13.08% |
Max Drawdown (3Y)Largest decline over 3 years | -0.29% | -26.75% | +26.46% |
Max Drawdown (5Y)Largest decline over 5 years | -0.29% | -28.49% | +28.20% |
Max Drawdown (10Y)Largest decline over 10 years | -0.37% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -7.97% | +7.97% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -19.50% | +19.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 4.27% | -4.25% |
Volatility
CSH2.L vs. COMM.L - Volatility Comparison
The current volatility for Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) is 0.05%, while iShares Diversified Commodity Swap UCITS ETF (COMM.L) has a volatility of 4.64%. This indicates that CSH2.L experiences smaller price fluctuations and is considered to be less risky than COMM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSH2.L | COMM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 4.64% | -4.59% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 16.61% | -16.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.49% | 18.52% | -18.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.56% | 21.23% | -20.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.44% | 19.66% | -19.22% |
CSH2.L vs. COMM.L - Expense Ratio Comparison
CSH2.L has a 0.10% expense ratio, which is lower than COMM.L's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CSH2.L vs. COMM.L - Dividend Comparison
Neither CSH2.L nor COMM.L has paid dividends to shareholders.
Frequently Asked Questions
CSH2.L and COMM.L have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSH2.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSH2.L is cheaper with a 0.10% expense ratio, compared with 0.19% for COMM.L.
CSH2.L is categorized as Money Market, while COMM.L is Commodities. CSH2.L tracks SONIA Compounded (GBP Hedged), while COMM.L tracks Bloomberg Commodity. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.10% for CSH2.L and 0.19% for COMM.L.
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