FDHY vs. CMDT
FDHY (Fidelity High Yield Factor ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - FDHY is a High Yield Bonds fund actively managed by Fidelity, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. FDHY is actively managed, while CMDT is passively managed. Over the past 3 years, FDHY returned 9.11%/yr vs 12.77%/yr for CMDT. At a 0.05 correlation, their price movements are largely independent. FDHY charges 0.45%/yr vs 0.65%/yr for CMDT.
Performance
FDHY vs. CMDT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FDHY achieves a 2.43% return, which is significantly lower than CMDT's 13.43% return.
FDHY
- 1D
- -0.02%
- 1M
- 0.59%
- YTD
- 2.43%
- 6M
- 2.90%
- 1Y
- 7.74%
- 3Y*
- 9.11%
- 5Y*
- 3.89%
- 10Y*
- —
CMDT
- 1D
- -1.14%
- 1M
- -8.86%
- YTD
- 13.43%
- 6M
- 13.42%
- 1Y
- 21.34%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
FDHY vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FDHY Fidelity High Yield Factor ETF | 2.43% | 9.24% | 7.53% | 7.67% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 13.43% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between FDHY and CMDT is -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | 0.05 |
The correlation between FDHY and CMDT shifts across timeframes, from -0.13 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FDHY vs. CMDT — Risk / Return Rank
FDHY
CMDT
FDHY vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity High Yield Factor ETF (FDHY) 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.
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.
| FDHY | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.29 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 1.93 | +1.73 |
| Martin ratioReturn relative to average drawdown | 15.38 | 9.62 | +5.76 |
Loading charts...
Drawdowns
FDHY vs. CMDT - Drawdown Comparison
The maximum FDHY drawdown since its inception was -20.01%, which is greater than CMDT's maximum drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for FDHY and CMDT.
Loading charts...
Drawdown Indicators
| FDHY | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.01% | -11.11% | -8.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.12% | -11.11% | +8.99% |
Max Drawdown (3Y)Largest decline over 3 years | -5.26% | -11.11% | +5.85% |
Max Drawdown (5Y)Largest decline over 5 years | -16.38% | — | — |
Current DrawdownCurrent decline from peak | -0.20% | -11.11% | +10.91% |
Average DrawdownAverage peak-to-trough decline | -2.86% | -2.77% | -0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 2.25% | -1.75% |
Volatility
FDHY vs. CMDT - Volatility Comparison
The current volatility for Fidelity High Yield Factor ETF (FDHY) is 0.82%, while PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) has a volatility of 3.26%. This indicates that FDHY experiences smaller price fluctuations and is considered to be less risky than CMDT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FDHY | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 3.26% | -2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 10.60% | -7.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.57% | 12.65% | -9.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.14% | 12.24% | -5.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.02% | 12.24% | -4.22% |
FDHY vs. CMDT - Expense Ratio Comparison
FDHY has a 0.45% expense ratio, which is lower than CMDT's 0.65% expense ratio.
Dividends
FDHY vs. CMDT - Dividend Comparison
FDHY's dividend yield for the trailing twelve months is around 6.51%, more than CMDT's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 2.67% | 3.04% | 8.80% | 2.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FDHY Fidelity High Yield Factor ETF | 6.51% | 6.56% | 6.58% | 6.26% | 5.34% | 6.09% | 5.78% | 4.94% | 2.55% |
Frequently Asked Questions
FDHY and CMDT have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMDT has higher volatility (3.26%) compared to FDHY (0.82%). In terms of maximum drawdown, FDHY dropped -20.01% vs CMDT's -11.11%.
On 3-year performance, CMDT leads with 12.77% vs 9.11% for FDHY. On fees, FDHY is cheaper at 0.45% per year. On volatility, FDHY has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CMDT has performed better with a 12.77% return vs 9.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDHY is cheaper with a 0.45% expense ratio, compared with 0.65% for CMDT.
FDHY has the higher dividend yield at 6.51%, compared with 2.67% for CMDT.
FDHY is categorized as High Yield Bonds, while CMDT is Commodities. They also come from different issuers: Fidelity and PIMCO. Their fees differ too: 0.45% for FDHY and 0.65% for CMDT.
FDHY currently has the higher Sharpe Ratio (2.18 vs 1.71), 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.
Find the right allocation for FDHY and CMDT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer