MVPA vs. COMT
MVPA (Miller Value Partners Appreciation ETF) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both exchange-traded funds - MVPA is a Global Equities fund actively managed by Miller, while COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index. MVPA is actively managed, while COMT is passively managed. Over the past year, MVPA returned -2.43% vs 25.27% for COMT. At a 0.04 correlation, their price movements are largely independent. MVPA charges 0.60%/yr vs 0.48%/yr for COMT.
Performance
MVPA vs. COMT - Performance Comparison
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Returns By Period
In the year-to-date period, MVPA achieves a -0.96% return, which is significantly lower than COMT's 23.88% return.
MVPA
- 1D
- -0.24%
- 1M
- 0.46%
- YTD
- -0.96%
- 6M
- -2.73%
- 1Y
- -2.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COMT
- 1D
- -0.93%
- 1M
- -11.91%
- YTD
- 23.88%
- 6M
- 22.75%
- 1Y
- 25.27%
- 3Y*
- 12.01%
- 5Y*
- 10.76%
- 10Y*
- 7.96%
MVPA vs. COMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MVPA Miller Value Partners Appreciation ETF | -0.96% | -2.92% | 39.11% |
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 23.88% | 6.07% | 1.93% |
Correlation
The correlation between MVPA and COMT is -0.16, 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 | -0.16 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2024 | 0.04 |
The correlation between MVPA and COMT shifts across timeframes, from -0.16 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MVPA vs. COMT — Risk / Return Rank
MVPA
COMT
MVPA vs. COMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Miller Value Partners Appreciation ETF (MVPA) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). 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.
| MVPA | COMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -1.77 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.22 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 1.63 | -1.79 |
| Martin ratioReturn relative to average drawdown | -0.34 | 6.99 | -7.33 |
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Drawdowns
MVPA vs. COMT - Drawdown Comparison
The maximum MVPA drawdown since its inception was -25.91%, smaller than the maximum COMT drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for MVPA and COMT.
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Drawdown Indicators
| MVPA | COMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.91% | -51.89% | +25.98% |
Max Drawdown (1Y)Largest decline over 1 year | -15.15% | -15.58% | +0.43% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.00% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.22% | — |
Current DrawdownCurrent decline from peak | -10.87% | -15.58% | +4.71% |
Average DrawdownAverage peak-to-trough decline | -7.37% | -24.00% | +16.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.23% | 3.65% | +3.58% |
Volatility
MVPA vs. COMT - Volatility Comparison
Miller Value Partners Appreciation ETF (MVPA) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) have volatilities of 4.84% and 5.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MVPA | COMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.84% | 5.02% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 14.00% | 19.24% | -5.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.64% | 21.45% | -2.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.94% | 21.13% | +1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.94% | 18.86% | +4.08% |
MVPA vs. COMT - Expense Ratio Comparison
MVPA has a 0.60% expense ratio, which is higher than COMT's 0.48% expense ratio.
Dividends
MVPA vs. COMT - Dividend Comparison
MVPA's dividend yield for the trailing twelve months is around 0.56%, less than COMT's 6.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 6.25% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
MVPA Miller Value Partners Appreciation ETF | 0.56% | 0.56% | 0.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MVPA and COMT have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COMT has higher volatility (5.02%) compared to MVPA (4.84%). In terms of maximum drawdown, MVPA dropped -25.91% vs COMT's -51.89%.
On 1-year performance, COMT leads with 25.27% vs -2.43% for MVPA. On fees, COMT is cheaper at 0.48% per year. On volatility, MVPA has been the lower-risk option at 4.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, COMT has performed better with a 25.27% return vs -2.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 0.60% for MVPA.
COMT has the higher dividend yield at 6.25%, compared with 0.56% for MVPA.
MVPA is categorized as Global Equities, while COMT is Commodities. They also come from different issuers: Miller and iShares. Their fees differ too: 0.60% for MVPA and 0.48% for COMT.
COMT currently has the higher Sharpe Ratio (1.20 vs -0.13), 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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