P500.DE vs. CMOE.DE
P500.DE (Invesco S&P 500 UCITS ETF) and CMOE.DE (Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc) are both exchange-traded funds - P500.DE is a S&P 500 fund tracking the S&P 500 Index, while CMOE.DE is a Commodities fund tracking the Bloomberg Commodity (EUR Hedged). Both are passively managed. Over the past 3 years, P500.DE returned 19.07%/yr vs 13.22%/yr for CMOE.DE. At a 0.09 correlation, their price movements are largely independent. P500.DE charges 0.05%/yr vs 0.24%/yr for CMOE.DE.
Performance
P500.DE vs. CMOE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, P500.DE achieves a 11.47% return, which is significantly lower than CMOE.DE's 21.57% return.
P500.DE
- 1D
- -0.10%
- 1M
- 4.39%
- YTD
- 11.47%
- 6M
- 10.93%
- 1Y
- 25.73%
- 3Y*
- 19.07%
- 5Y*
- 14.99%
- 10Y*
- 15.16%
CMOE.DE
- 1D
- -1.32%
- 1M
- -1.55%
- YTD
- 21.57%
- 6M
- 21.82%
- 1Y
- 33.83%
- 3Y*
- 13.22%
- 5Y*
- —
- 10Y*
- —
P500.DE vs. CMOE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
P500.DE Invesco S&P 500 UCITS ETF | 11.47% | 4.88% | 32.56% | 22.69% | -5.48% |
CMOE.DE Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc | 21.57% | 14.96% | 2.92% | -9.62% | -0.48% |
Correlation
The correlation between P500.DE and CMOE.DE is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2022 | 0.09 |
The correlation between P500.DE and CMOE.DE shifts across timeframes, from -0.11 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
P500.DE vs. CMOE.DE — Risk / Return Rank
P500.DE
CMOE.DE
P500.DE vs. CMOE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF (P500.DE) and Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE). 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.
| P500.DE | CMOE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.37 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.62 | 4.49 | -0.88 |
| Martin ratioReturn relative to average drawdown | 12.91 | 10.26 | +2.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| P500.DE | CMOE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.23 | 2.00 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.94 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 0.37 | +0.64 |
Drawdowns
P500.DE vs. CMOE.DE - Drawdown Comparison
The maximum P500.DE drawdown since its inception was -33.78%, which is greater than CMOE.DE's maximum drawdown of -29.97%. Use the drawdown chart below to compare losses from any high point for P500.DE and CMOE.DE.
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Drawdown Indicators
| P500.DE | CMOE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.78% | -29.97% | -3.81% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -7.70% | +0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -23.34% | -11.83% | -11.51% |
Max Drawdown (5Y)Largest decline over 5 years | -23.34% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.78% | — | — |
Current DrawdownCurrent decline from peak | -0.40% | -5.48% | +5.08% |
Average DrawdownAverage peak-to-trough decline | -3.85% | -19.33% | +15.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 3.38% | -1.39% |
Volatility
P500.DE vs. CMOE.DE - Volatility Comparison
The current volatility for Invesco S&P 500 UCITS ETF (P500.DE) is 2.65%, while Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE) has a volatility of 5.18%. This indicates that P500.DE experiences smaller price fluctuations and is considered to be less risky than CMOE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| P500.DE | CMOE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 5.18% | -2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 7.59% | 15.26% | -7.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.52% | 17.28% | -5.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.17% | 16.62% | -1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 16.62% | -0.55% |
P500.DE vs. CMOE.DE - Expense Ratio Comparison
P500.DE has a 0.05% expense ratio, which is lower than CMOE.DE's 0.24% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
P500.DE vs. CMOE.DE - Dividend Comparison
Neither P500.DE nor CMOE.DE has paid dividends to shareholders.
Frequently Asked Questions
P500.DE and CMOE.DE have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, P500.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
P500.DE is cheaper with a 0.05% expense ratio, compared with 0.24% for CMOE.DE.
P500.DE is categorized as S&P 500, while CMOE.DE is Commodities. P500.DE tracks S&P 500 Index, while CMOE.DE tracks Bloomberg Commodity (EUR Hedged). Their fees differ too: 0.05% for P500.DE and 0.24% for CMOE.DE.
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