MARM vs. CMDT

Last updated Jun 24, 2026

MARM (FT Vest U.S. Equity Max Buffer ETF - March) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - MARM is a Defined Outcome fund actively managed by First Trust, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. MARM is actively managed, while CMDT is passively managed. Over the past year, MARM returned 6.61% vs 21.34% for CMDT. At a 0.01 correlation, their price movements are largely independent. MARM charges 0.85%/yr vs 0.65%/yr for CMDT.

Performance

MARM vs. CMDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Max Buffer ETF - March (MARM) 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, MARM achieves a 3.12% return, which is significantly lower than CMDT's 13.43% return.

MARM

• 1D: -0.09%
• 1M: 0.10%
• YTD: 3.12%
• 6M: 3.26%
• 1Y: 6.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CMDT

• 1D: -1.14%
• 1M: -8.86%
• YTD: 13.43%
• 6M: 13.42%
• 1Y: 21.34%
• 3Y*: 12.77%
• 5Y*: —
• 10Y*: —

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

MARM vs. CMDT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MARM FT Vest U.S. Equity Max Buffer ETF - March	3.12%	7.04%	5.93%
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	13.43%	12.78%	1.60%

Correlation

The correlation between MARM and CMDT is -0.05, 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	-0.05
Correlation (All Time) Calculated using the full available price history since Mar 27, 2024	0.01

Return for Risk

MARM vs. CMDT — Risk / Return Rank

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

MARM

MARM Risk / Return Rank: 98
MARM Sharpe Ratio Rank: 97
MARM Sortino Ratio Rank: 98
MARM Omega Ratio Rank: 98
MARM Calmar Ratio Rank: 97
MARM Martin Ratio Rank: 98

CMDT

CMDT Risk / Return Rank: 50
CMDT Sharpe Ratio Rank: 53
CMDT Sortino Ratio Rank: 52
CMDT Omega Ratio Rank: 48
CMDT Calmar Ratio Rank: 41
CMDT Martin Ratio Rank: 58

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.

MARM vs. CMDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Max Buffer ETF - March (MARM) 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.

	MARM	CMDT	Difference
Sharpe ratio: Return per unit of total volatility	4.14	1.71	+2.43
Sortino ratio: Return per unit of downside risk	7.05	2.39	+4.65
Omega ratio: Gain probability vs. loss probability	2.01	1.29	+0.72
Calmar ratio: Return relative to maximum drawdown	10.59	1.93	+8.66
Martin ratio: Return relative to average drawdown	62.22	9.62	+52.60

MARM vs. CMDT - Sharpe Ratio Comparison

The current MARM Sharpe Ratio is 4.14, which is higher than the CMDT Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of MARM 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.

Drawdowns

MARM vs. CMDT - Drawdown Comparison

The maximum MARM drawdown since its inception was -2.74%, smaller than the maximum CMDT drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for MARM and CMDT.

Drawdown Indicators

	MARM	CMDT	Difference
Max Drawdown Largest peak-to-trough decline	-2.74%	-11.11%	+8.37%
Max Drawdown (1Y) Largest decline over 1 year	-0.63%	-11.11%	+10.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.11%	—
Current Drawdown Current decline from peak	-0.22%	-11.11%	+10.89%
Average Drawdown Average peak-to-trough decline	-0.20%	-2.77%	+2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	2.25%	-2.14%

Volatility

MARM vs. CMDT - Volatility Comparison

The current volatility for FT Vest U.S. Equity Max Buffer ETF - March (MARM) is 0.53%, while PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) has a volatility of 3.26%. This indicates that MARM 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.

Volatility by Period

	MARM	CMDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	3.26%	-2.73%
Volatility (6M) Calculated over the trailing 6-month period	1.34%	10.60%	-9.26%
Volatility (1Y) Calculated over the trailing 1-year period	1.62%	12.65%	-11.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.35%	12.24%	-8.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	12.24%	-8.89%

MARM vs. CMDT - Expense Ratio Comparison

MARM has a 0.85% expense ratio, which is higher than CMDT's 0.65% expense ratio.

Dividends

MARM vs. CMDT - Dividend Comparison

MARM has not paid dividends to shareholders, while CMDT's dividend yield for the trailing twelve months is around 2.67%.

Position	TTM	2025	2024	2023
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	2.67%	3.04%	8.80%	2.71%
MARM FT Vest U.S. Equity Max Buffer ETF - March	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MARM and CMDT in my portfolio?

MARM and CMDT have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MARM or CMDT?

CMDT has higher volatility (3.26%) compared to MARM (0.53%). In terms of maximum drawdown, MARM dropped -2.74% vs CMDT's -11.11%.

Which ETF is better, MARM or CMDT?

On 1-year performance, CMDT leads with 21.34% vs 6.61% for MARM. On fees, CMDT is cheaper at 0.65% per year. On volatility, MARM has been the lower-risk option at 0.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MARM or CMDT?

Over the 1-year period, CMDT has performed better with a 21.34% return vs 6.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MARM or CMDT?

CMDT is cheaper with a 0.65% expense ratio, compared with 0.85% for MARM.

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

CMDT has the higher dividend yield at 2.67%, compared with 0.00% for MARM.

What is the main difference between MARM and CMDT?

MARM is categorized as Defined Outcome, while CMDT is Commodities. They also come from different issuers: First Trust and PIMCO. Their fees differ too: 0.85% for MARM and 0.65% for CMDT.

Which has better risk-adjusted returns?

MARM currently has the higher Sharpe Ratio (4.14 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.