FLTB vs. CMDT
FLTB (Fidelity Limited Term Bond ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - FLTB is a Short-Term Bond fund actively managed by Fidelity, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. FLTB is actively managed, while CMDT is passively managed. Over the past 3 years, FLTB returned 5.59%/yr vs 12.77%/yr for CMDT. At a correlation of -0.11, they often move in opposite directions. FLTB charges 0.25%/yr vs 0.65%/yr for CMDT.
Performance
FLTB vs. CMDT - Performance Comparison
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Returns By Period
In the year-to-date period, FLTB achieves a 0.84% return, which is significantly lower than CMDT's 13.43% return.
FLTB
- 1D
- 0.02%
- 1M
- 0.34%
- YTD
- 0.84%
- 6M
- 0.86%
- 1Y
- 4.05%
- 3Y*
- 5.59%
- 5Y*
- 2.30%
- 10Y*
- 2.44%
CMDT
- 1D
- -1.14%
- 1M
- -8.86%
- YTD
- 13.43%
- 6M
- 13.42%
- 1Y
- 21.34%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
FLTB vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FLTB Fidelity Limited Term Bond ETF | 0.84% | 6.60% | 5.14% | 3.44% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 13.43% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between FLTB and CMDT is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | -0.11 |
The correlation between FLTB and CMDT shifts across timeframes, from -0.22 (1 year) to -0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FLTB vs. CMDT — Risk / Return Rank
FLTB
CMDT
FLTB vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Limited Term Bond ETF (FLTB) 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.
| FLTB | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.29 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 1.93 | +0.74 |
| Martin ratioReturn relative to average drawdown | 11.14 | 9.62 | +1.52 |
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Drawdowns
FLTB vs. CMDT - Drawdown Comparison
The maximum FLTB drawdown since its inception was -9.37%, smaller than the maximum CMDT drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for FLTB and CMDT.
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Drawdown Indicators
| FLTB | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.37% | -11.11% | +1.74% |
Max Drawdown (1Y)Largest decline over 1 year | -1.52% | -11.11% | +9.59% |
Max Drawdown (3Y)Largest decline over 3 years | -1.52% | -11.11% | +9.59% |
Max Drawdown (5Y)Largest decline over 5 years | -9.26% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -9.37% | — | — |
Current DrawdownCurrent decline from peak | -0.26% | -11.11% | +10.85% |
Average DrawdownAverage peak-to-trough decline | -1.39% | -2.77% | +1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 2.25% | -1.89% |
Volatility
FLTB vs. CMDT - Volatility Comparison
The current volatility for Fidelity Limited Term Bond ETF (FLTB) is 0.57%, while PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) has a volatility of 3.26%. This indicates that FLTB 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.
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Volatility by Period
| FLTB | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 3.26% | -2.69% |
Volatility (6M)Calculated over the trailing 6-month period | 1.66% | 10.60% | -8.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.10% | 12.65% | -10.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.81% | 12.24% | -9.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.94% | 12.24% | -9.30% |
FLTB vs. CMDT - Expense Ratio Comparison
FLTB has a 0.25% expense ratio, which is lower than CMDT's 0.65% expense ratio.
Dividends
FLTB vs. CMDT - Dividend Comparison
FLTB's dividend yield for the trailing twelve months is around 4.36%, more than CMDT's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
FLTB Fidelity Limited Term Bond ETF | 4.36% | 4.31% | 4.11% | 3.20% | 1.63% | 0.89% | 1.56% | 2.67% | 2.50% | 1.78% | 1.59% | 1.63% |
Frequently Asked Questions
FLTB and CMDT have a correlation of -0.22, 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 FLTB (0.57%). In terms of maximum drawdown, FLTB dropped -9.37% vs CMDT's -11.11%.
On 3-year performance, CMDT leads with 12.77% vs 5.59% for FLTB. On fees, FLTB is cheaper at 0.25% per year. On volatility, FLTB has been the lower-risk option at 0.57%. 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 5.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLTB is cheaper with a 0.25% expense ratio, compared with 0.65% for CMDT.
FLTB has the higher dividend yield at 4.36%, compared with 2.67% for CMDT.
FLTB is categorized as Short-Term Bond, while CMDT is Commodities. They also come from different issuers: Fidelity and PIMCO. Their fees differ too: 0.25% for FLTB and 0.65% for CMDT.
FLTB currently has the higher Sharpe Ratio (1.95 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.
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