EBLU vs. CMDT

Last updated Jun 4, 2026

EBLU (Ecofin Global Water ESG Fund) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - EBLU is a Water Equities fund tracking the Ecofin Water ESG Index, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 3 years, EBLU returned 9.71%/yr vs 16.90%/yr for CMDT. At a 0.07 correlation, their price movements are largely independent. EBLU charges 0.40%/yr vs 0.65%/yr for CMDT.

Performance

EBLU vs. CMDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ecofin Global Water ESG Fund (EBLU) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EBLU achieves a -1.99% return, which is significantly lower than CMDT's 23.96% return.

EBLU

• 1D: 0.17%
• 1M: -3.28%
• YTD: -1.99%
• 6M: -4.11%
• 1Y: -1.51%
• 3Y*: 9.71%
• 5Y*: 3.78%
• 10Y*: —

CMDT

• 1D: -0.03%
• 1M: -0.63%
• YTD: 23.96%
• 6M: 24.09%
• 1Y: 35.85%
• 3Y*: 16.90%
• 5Y*: —
• 10Y*: —

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

EBLU vs. CMDT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EBLU Ecofin Global Water ESG Fund	-1.99%	11.82%	8.54%	10.14%
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	23.96%	12.78%	6.93%	5.50%

Correlation

The correlation between EBLU and CMDT is -0.16, 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	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (All Time) Calculated using the full available price history since May 11, 2023	0.07

The correlation between EBLU and CMDT shifts across timeframes, from -0.16 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

EBLU vs. CMDT - Sectors Allocation Comparison

Sectors	EBLU	CMDT
Industrials	70.6%	-
Utilities	20.1%	-
Technology	4.0%	-
Basic Materials	4.0%	-
Consumer Defensive	3.4%	-
Energy	1.1%	-
Consumer Cyclical	0.2%	-
Communication Services	-	-
Financial Services	-	100.0%
Healthcare	-	-
Real Estate	-	-

Return for Risk

EBLU vs. CMDT — Risk / Return Rank

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

EBLU

EBLU Risk / Return Rank: 7
EBLU Sharpe Ratio Rank: 8
EBLU Sortino Ratio Rank: 7
EBLU Omega Ratio Rank: 7
EBLU Calmar Ratio Rank: 8
EBLU Martin Ratio Rank: 7

CMDT

CMDT Risk / Return Rank: 88
CMDT Sharpe Ratio Rank: 87
CMDT Sortino Ratio Rank: 86
CMDT Omega Ratio Rank: 83
CMDT Calmar Ratio Rank: 95
CMDT Martin Ratio Rank: 91

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.

EBLU vs. CMDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ecofin Global Water ESG Fund (EBLU) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT). 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.

	EBLU	CMDT	Difference
Sharpe ratio Return per unit of total volatility	-0.11	2.92	-3.02
Sortino ratio Return per unit of downside risk	-0.05	3.92	-3.97
Omega ratio Gain probability vs. loss probability	0.99	1.50	-0.51
Calmar ratio Return relative to maximum drawdown	-0.12	8.03	-8.15
Martin ratio Return relative to average drawdown	-0.28	22.12	-22.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EBLU vs. CMDT - Sharpe Ratio Comparison

The current EBLU Sharpe Ratio is -0.11, which is lower than the CMDT Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of EBLU and CMDT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EBLU	CMDT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.11	2.92	-3.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	1.32	-0.82

Drawdowns

EBLU vs. CMDT - Drawdown Comparison

The maximum EBLU drawdown since its inception was -37.58%, which is greater than CMDT's maximum drawdown of -9.69%. Use the drawdown chart below to compare losses from any high point for EBLU and CMDT.

Drawdown Indicators

	EBLU	CMDT	Difference
Max Drawdown Largest peak-to-trough decline	-37.58%	-9.69%	-27.89%
Max Drawdown (1Y) Largest decline over 1 year	-13.17%	-4.49%	-8.68%
Max Drawdown (3Y) Largest decline over 3 years	-15.42%	-9.69%	-5.73%
Max Drawdown (5Y) Largest decline over 5 years	-35.36%	—	—
Current Drawdown Current decline from peak	-11.65%	-2.86%	-8.79%
Average Drawdown Average peak-to-trough decline	-8.15%	-2.69%	-5.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.46%	1.63%	+3.83%

Volatility

EBLU vs. CMDT - Volatility Comparison

Ecofin Global Water ESG Fund (EBLU) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) have volatilities of 4.35% and 4.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBLU	CMDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	4.33%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	11.46%	10.30%	+1.16%
Volatility (1Y) Calculated over the trailing 1-year period	14.44%	12.35%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.32%	12.21%	+5.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.96%	12.21%	+6.75%

EBLU vs. CMDT - Expense Ratio Comparison

EBLU has a 0.40% expense ratio, which is lower than CMDT's 0.65% expense ratio.

Dividends

EBLU vs. CMDT - Dividend Comparison

EBLU's dividend yield for the trailing twelve months is around 3.37%, more than CMDT's 2.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	2.44%	3.04%	8.80%	2.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBLU Ecofin Global Water ESG Fund	3.37%	3.31%	1.34%	1.46%	1.64%	1.55%	1.42%	1.58%	1.35%	1.32%

Frequently Asked Questions

Can I hold both EBLU and CMDT in my portfolio?

EBLU and CMDT have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EBLU or CMDT?

EBLU has higher volatility (4.35%) compared to CMDT (4.33%). In terms of maximum drawdown, EBLU dropped -37.58% vs CMDT's -9.69%.

Which ETF is better, EBLU or CMDT?

On 3-year performance, CMDT leads with 16.90% vs 9.71% for EBLU. On fees, EBLU is cheaper at 0.40% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EBLU or CMDT?

Over the 3-year period, CMDT has performed better with a 16.90% return vs 9.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EBLU or CMDT?

EBLU is cheaper with a 0.40% expense ratio, compared with 0.65% for CMDT.

Which ETF pays a higher dividend yield, EBLU or CMDT?

EBLU has the higher dividend yield at 3.37%, compared with 2.44% for CMDT.

What is the main difference between EBLU and CMDT?

EBLU is categorized as Water Equities, while CMDT is Commodities. EBLU tracks Ecofin Water ESG Index, while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: Tortoise and PIMCO. Their fees differ too: 0.40% for EBLU and 0.65% for CMDT.

Which has better risk-adjusted returns?

CMDT currently has the higher Sharpe Ratio (2.92 vs -0.11), 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.