EIMI.L vs. CMOD.L
EIMI.L (iShares Core MSCI EM IMI UCITS ETF) and CMOD.L (Invesco Bloomberg Commodity UCITS ETF) are both exchange-traded funds - EIMI.L is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index, while CMOD.L is a Commodities fund tracking the Bloomberg Commodity TR Index. Both are passively managed. Over the past 5 years, EIMI.L returned 7.50%/yr vs 9.74%/yr for CMOD.L. At a 0.32 correlation, their price movements are largely independent. EIMI.L charges 0.18%/yr vs 0.19%/yr for CMOD.L.
Performance
EIMI.L vs. CMOD.L - Performance Comparison
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Returns By Period
In the year-to-date period, EIMI.L achieves a 22.83% return, which is significantly higher than CMOD.L's 19.22% return.
EIMI.L
- 1D
- 3.53%
- 1M
- 0.58%
- YTD
- 22.83%
- 6M
- 26.10%
- 1Y
- 45.08%
- 3Y*
- 21.64%
- 5Y*
- 7.50%
- 10Y*
- 10.60%
CMOD.L
- 1D
- -1.06%
- 1M
- -8.02%
- YTD
- 19.22%
- 6M
- 20.80%
- 1Y
- 27.62%
- 3Y*
- 13.33%
- 5Y*
- 9.74%
- 10Y*
- —
EIMI.L vs. CMOD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIMI.L iShares Core MSCI EM IMI UCITS ETF | 22.83% | 32.16% | 7.36% | 11.03% | -19.67% | -0.65% | 18.80% | 16.37% | -14.18% | 34.56% |
CMOD.L Invesco Bloomberg Commodity UCITS ETF | 19.22% | 16.16% | 4.12% | -7.56% | 14.50% | 27.35% | -3.87% | 6.64% | -10.22% | 2.08% |
Correlation
The correlation between EIMI.L and CMOD.L is 0.00, 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 | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jan 9, 2017 | 0.32 |
Over the past year, the correlation between EIMI.L and CMOD.L has dropped to 0.00 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.
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Return for Risk
EIMI.L vs. CMOD.L — Risk / Return Rank
EIMI.L
CMOD.L
EIMI.L vs. CMOD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EM IMI UCITS ETF (EIMI.L) and Invesco Bloomberg Commodity UCITS ETF (CMOD.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.
| EIMI.L | CMOD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.32 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.40 | 3.07 | +0.32 |
| Martin ratioReturn relative to average drawdown | 11.76 | 8.68 | +3.08 |
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Drawdowns
EIMI.L vs. CMOD.L - Drawdown Comparison
The maximum EIMI.L drawdown since its inception was -38.73%, which is greater than CMOD.L's maximum drawdown of -33.16%. Use the drawdown chart below to compare losses from any high point for EIMI.L and CMOD.L.
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Drawdown Indicators
| EIMI.L | CMOD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.73% | -33.16% | -5.57% |
Max Drawdown (1Y)Largest decline over 1 year | -12.66% | -9.59% | -3.07% |
Max Drawdown (3Y)Largest decline over 3 years | -17.44% | -11.65% | -5.79% |
Max Drawdown (5Y)Largest decline over 5 years | -35.41% | -26.86% | -8.55% |
Max Drawdown (10Y)Largest decline over 10 years | -38.73% | — | — |
Current DrawdownCurrent decline from peak | -3.75% | -9.59% | +5.84% |
Average DrawdownAverage peak-to-trough decline | -13.99% | -12.24% | -1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 3.40% | +0.26% |
Volatility
EIMI.L vs. CMOD.L - Volatility Comparison
iShares Core MSCI EM IMI UCITS ETF (EIMI.L) has a higher volatility of 8.37% compared to Invesco Bloomberg Commodity UCITS ETF (CMOD.L) at 4.36%. This indicates that EIMI.L's price experiences larger fluctuations and is considered to be riskier than CMOD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIMI.L | CMOD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | 4.36% | +4.01% |
Volatility (6M)Calculated over the trailing 6-month period | 17.62% | 15.04% | +2.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.94% | 16.99% | +2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.46% | 16.61% | +1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.20% | 14.68% | +4.52% |
EIMI.L vs. CMOD.L - Expense Ratio Comparison
EIMI.L has a 0.18% expense ratio, which is lower than CMOD.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
EIMI.L vs. CMOD.L - Dividend Comparison
Neither EIMI.L nor CMOD.L has paid dividends to shareholders.
Frequently Asked Questions
EIMI.L and CMOD.L have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EIMI.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EIMI.L is cheaper with a 0.18% expense ratio, compared with 0.19% for CMOD.L.
EIMI.L is categorized as Emerging Markets Equities, while CMOD.L is Commodities. EIMI.L tracks MSCI Emerging Markets Investable Market Index, while CMOD.L tracks Bloomberg Commodity TR Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for EIMI.L and 0.19% for CMOD.L.
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