ISCMF vs. CMDT

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Diversified Commodity Swap UCITS ETF (ISCMF) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT).

ISCMF and CMDT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ISCMF is a passively managed fund by iShares that tracks the performance of the Bloomberg Commodity Index. It was launched on Mar 4, 2022. CMDT is a passively managed fund by PIMCO that tracks the performance of the Bloomberg Roll Select Commodity Total Return Index. It was launched on May 9, 2023. Both ISCMF and CMDT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ISCMF vs. CMDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Diversified Commodity Swap UCITS ETF (ISCMF) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT). The values are adjusted to include any dividend payments, if applicable.

ISCMF vs. CMDT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ISCMF iShares Diversified Commodity Swap UCITS ETF	17.84%	19.65%	3.13%	-0.08%
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	16.96%	12.78%	6.93%	5.50%

Returns By Period

The year-to-date returns for both stocks are quite close, with ISCMF having a 17.84% return and CMDT slightly lower at 16.96%.

ISCMF

• 1D: 0.00%
• 1M: 7.22%
• YTD: 17.84%
• 6M: 26.76%
• 1Y: 29.86%
• 3Y*: 12.27%
• 5Y*: —
• 10Y*: —

CMDT

• 1D: -0.74%
• 1M: 8.58%
• YTD: 16.96%
• 6M: 19.62%
• 1Y: 24.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ISCMF vs. CMDT - Expense Ratio Comparison

ISCMF has a 0.19% expense ratio, which is lower than CMDT's 0.65% expense ratio.

CMDT

PIMCO Commodity Strategy Active Exchange-Traded Fund

ISCMF

iShares Diversified Commodity Swap UCITS ETF

Return for Risk

ISCMF vs. CMDT — Risk / Return Rank

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

ISCMF

ISCMF Risk / Return Rank: 94
ISCMF Sharpe Ratio Rank: 86
ISCMF Sortino Ratio Rank: 96
ISCMF Omega Ratio Rank: 99
ISCMF Calmar Ratio Rank: 97
ISCMF Martin Ratio Rank: 91

CMDT

CMDT Risk / Return Rank: 87
CMDT Sharpe Ratio Rank: 88
CMDT Sortino Ratio Rank: 89
CMDT Omega Ratio Rank: 85
CMDT Calmar Ratio Rank: 87
CMDT Martin Ratio Rank: 86

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.

ISCMF vs. CMDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Commodity Swap UCITS ETF (ISCMF) 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.

	ISCMF	CMDT	Difference
Sharpe ratio Return per unit of total volatility	1.79	1.85	-0.06
Sortino ratio Return per unit of downside risk	3.44	2.50	+0.94
Omega ratio Gain probability vs. loss probability	2.36	1.34	+1.02
Calmar ratio Return relative to maximum drawdown	5.25	2.72	+2.53
Martin ratio Return relative to average drawdown	12.38	10.00	+2.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISCMF vs. CMDT - Sharpe Ratio Comparison

The current ISCMF Sharpe Ratio is 1.79, which is comparable to the CMDT Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of ISCMF and CMDT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ISCMF	CMDT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	1.85	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	1.22	-0.82

Correlation

The correlation between ISCMF and CMDT is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ISCMF vs. CMDT - Dividend Comparison

ISCMF has not paid dividends to shareholders, while CMDT's dividend yield for the trailing twelve months is around 2.60%.

	TTM	2025	2024	2023
ISCMF iShares Diversified Commodity Swap UCITS ETF	0.00%	0.00%	0.00%	0.00%
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	2.60%	3.04%	8.80%	2.71%

Drawdowns

ISCMF vs. CMDT - Drawdown Comparison

The maximum ISCMF drawdown since its inception was -25.42%, which is greater than CMDT's maximum drawdown of -9.69%. Use the drawdown chart below to compare losses from any high point for ISCMF and CMDT.

Drawdown Indicators

	ISCMF	CMDT	Difference
Max Drawdown Largest peak-to-trough decline	-25.42%	-9.69%	-15.73%
Max Drawdown (1Y) Largest decline over 1 year	-5.69%	-9.21%	+3.52%
Current Drawdown Current decline from peak	-2.55%	-0.74%	-1.81%
Average Drawdown Average peak-to-trough decline	-13.98%	-2.79%	-11.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	2.51%	-0.10%

Volatility

ISCMF vs. CMDT - Volatility Comparison

iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a higher volatility of 9.72% compared to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) at 5.26%. This indicates that ISCMF's price experiences larger fluctuations and is considered to be riskier than CMDT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISCMF	CMDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.72%	5.26%	+4.46%
Volatility (6M) Calculated over the trailing 6-month period	13.85%	9.59%	+4.26%
Volatility (1Y) Calculated over the trailing 1-year period	16.72%	13.23%	+3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.05%	12.13%	+1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.05%	12.13%	+1.92%