PIT vs. CMDT

Last updated Aug 5, 2026

PIT (VanEck Commodity Strategy ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both Commodities funds. PIT is actively managed, while CMDT is passively managed. Over the past 3 years, PIT returned 18.33%/yr vs 11.55%/yr for CMDT. Their correlation of 0.90 means they have usually moved in the same direction. PIT charges 0.55%/yr vs 0.65%/yr for CMDT.

Performance

PIT vs. CMDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Commodity Strategy ETF (PIT) 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, PIT achieves a 34.35% return, which is significantly higher than CMDT's 17.72% return.

PIT

• 1D: -1.39%
• 1M: 7.88%
• 6M: 21.39%
• YTD: 34.35%
• 1Y: 50.16%
• 3Y*: 18.33%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.67%

CMDT

• 1D: -0.67%
• 1M: 5.34%
• 6M: 12.50%
• YTD: 17.72%
• 1Y: 26.54%
• 3Y*: 11.55%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	$1.39M	$1.69M	$2.31M
PIT VanEck Commodity Strategy ETF	$1.27M	$2.71M	$3.77M

PIT vs. CMDT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PIT VanEck Commodity Strategy ETF	34.35%	21.63%	6.77%	2.22%
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	17.72%	12.78%	6.93%	5.37%

Correlation

The correlation between PIT and CMDT is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (All Time) Calculated using the full available price history since May 10, 2023	0.90

The correlation between PIT and CMDT has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

Return for Risk

PIT vs. CMDT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PIT

PIT Risk / Return Rank: 78
PIT Sharpe Ratio Rank: 87
PIT Sortino Ratio Rank: 78
PIT Omega Ratio Rank: 82
PIT Calmar Ratio Rank: 74
PIT Martin Ratio Rank: 71

CMDT

CMDT Risk / Return Rank: 67
CMDT Sharpe Ratio Rank: 79
CMDT Sortino Ratio Rank: 77
CMDT Omega Ratio Rank: 74
CMDT Calmar Ratio Rank: 50
CMDT Martin Ratio Rank: 54

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PIT vs. CMDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Commodity Strategy ETF (PIT) 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.

	PIT	CMDT	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.03	+0.21
Sortino ratio: Return per unit of downside risk	2.84	2.79	+0.05
Omega ratio: Gain probability vs. loss probability	1.38	1.34	+0.04
Calmar ratio: Return relative to maximum drawdown	2.93	2.01	+0.92
Martin ratio: Return relative to average drawdown	9.86	7.02	+2.84

PIT vs. CMDT - Sharpe Ratio Comparison

The current PIT Sharpe Ratio is 2.25, which is comparable to the CMDT Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of PIT 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

PIT vs. CMDT - Drawdown Comparison

The maximum PIT drawdown since its inception was -17.20%, which is greater than CMDT's maximum drawdown of -13.23%. Use the drawdown chart below to compare losses from any high point for PIT and CMDT.

Drawdown Indicators

	PIT	CMDT	Difference
Max Drawdown Largest peak-to-trough decline	-17.20%	-13.23%	-3.97%
Max Drawdown (1Y) Largest decline over 1 year	-17.20%	-13.23%	-3.97%
Max Drawdown (3Y) Largest decline over 3 years	-17.20%	-13.23%	-3.97%
Current Drawdown Current decline from peak	-9.29%	-7.75%	-1.54%
Average Drawdown Average peak-to-trough decline	-4.28%	-2.98%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.10%	3.79%	+1.31%

Volatility

PIT vs. CMDT - Volatility Comparison

VanEck Commodity Strategy ETF (PIT) has a higher volatility of 7.07% compared to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) at 3.88%. This indicates that PIT'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

	PIT	CMDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.07%	3.88%	+3.19%
Volatility (6M) Calculated over the trailing 6-month period	18.85%	10.79%	+8.06%
Volatility (1Y) Calculated over the trailing 1-year period	22.45%	13.12%	+9.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	12.36%	+5.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.75%	12.36%	+5.39%

PIT vs. CMDT - Expense Ratio Comparison

PIT has a 0.55% expense ratio, which is lower than CMDT's 0.65% expense ratio.

Dividends

PIT vs. CMDT - Dividend Comparison

PIT's dividend yield for the trailing twelve months is around 6.64%, more than CMDT's 2.62% yield.

Position	TTM	2025	2024	2023
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	2.62%	3.04%	8.80%	2.71%
PIT VanEck Commodity Strategy ETF	6.64%	8.92%	3.59%	6.44%

Frequently Asked Questions

Can I hold both PIT and CMDT in my portfolio?

PIT and CMDT have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PIT or CMDT?

PIT has higher volatility (7.07%) compared to CMDT (3.88%). In terms of maximum drawdown, PIT dropped -17.20% vs CMDT's -13.23%.

Which ETF is better, PIT or CMDT?

On 3-year performance, PIT leads with 18.33% vs 11.55% for CMDT. On fees, PIT is cheaper at 0.55% per year. On volatility, CMDT has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PIT or CMDT?

Over the 3-year period, PIT has performed better with a 18.33% return vs 11.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PIT or CMDT?

PIT is cheaper with a 0.55% expense ratio, compared with 0.65% for CMDT.

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

PIT has the higher dividend yield at 6.64%, compared with 2.62% for CMDT.

What is the main difference between PIT and CMDT?

They also come from different issuers: VanEck and PIMCO. Their fees differ too: 0.55% for PIT and 0.65% for CMDT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (2.25 vs 2.03), 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.