PMAR vs. CMDT
PMAR (Innovator U.S. Equity Power Buffer ETF - March) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - PMAR is a Defined Outcome fund tracking the Cboe S&P 500 15% Buffer Protect March Series Index, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 3 years, PMAR returned 12.46%/yr vs 12.77%/yr for CMDT. At a 0.05 correlation, their price movements are largely independent. PMAR charges 0.79%/yr vs 0.65%/yr for CMDT.
Performance
PMAR vs. CMDT - Performance Comparison
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Returns By Period
In the year-to-date period, PMAR achieves a 5.76% return, which is significantly lower than CMDT's 13.43% return.
PMAR
- 1D
- -0.25%
- 1M
- 0.13%
- YTD
- 5.76%
- 6M
- 5.79%
- 1Y
- 14.20%
- 3Y*
- 12.46%
- 5Y*
- 9.25%
- 10Y*
- —
CMDT
- 1D
- -1.14%
- 1M
- -8.86%
- YTD
- 13.43%
- 6M
- 13.42%
- 1Y
- 21.34%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
PMAR vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PMAR Innovator U.S. Equity Power Buffer ETF - March | 5.76% | 11.82% | 12.83% | 10.24% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 13.43% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between PMAR 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 (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | 0.05 |
The correlation between PMAR and CMDT shifts across timeframes, from -0.05 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PMAR vs. CMDT — Risk / Return Rank
PMAR
CMDT
PMAR vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF - March (PMAR) 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.
| PMAR | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.29 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.47 | 1.93 | +1.54 |
| Martin ratioReturn relative to average drawdown | 20.17 | 9.62 | +10.55 |
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Drawdowns
PMAR vs. CMDT - Drawdown Comparison
The maximum PMAR drawdown since its inception was -17.18%, which is greater than CMDT's maximum drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for PMAR and CMDT.
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Drawdown Indicators
| PMAR | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.18% | -11.11% | -6.07% |
Max Drawdown (1Y)Largest decline over 1 year | -4.11% | -11.11% | +7.00% |
Max Drawdown (3Y)Largest decline over 3 years | -9.32% | -11.11% | +1.79% |
Max Drawdown (5Y)Largest decline over 5 years | -10.84% | — | — |
Current DrawdownCurrent decline from peak | -0.63% | -11.11% | +10.48% |
Average DrawdownAverage peak-to-trough decline | -1.55% | -2.77% | +1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 2.25% | -1.54% |
Volatility
PMAR vs. CMDT - Volatility Comparison
The current volatility for Innovator U.S. Equity Power Buffer ETF - March (PMAR) is 1.69%, while PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) has a volatility of 3.26%. This indicates that PMAR 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.
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Volatility by Period
| PMAR | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 3.26% | -1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 10.60% | -6.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.35% | 12.65% | -7.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.20% | 12.24% | -4.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.71% | 12.24% | -1.53% |
PMAR vs. CMDT - Expense Ratio Comparison
PMAR has a 0.79% expense ratio, which is higher than CMDT's 0.65% expense ratio.
Dividends
PMAR vs. CMDT - Dividend Comparison
PMAR 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% |
PMAR Innovator U.S. Equity Power Buffer ETF - March | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PMAR 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.
CMDT has higher volatility (3.26%) compared to PMAR (1.69%). In terms of maximum drawdown, PMAR dropped -17.18% vs CMDT's -11.11%.
On 3-year performance, CMDT leads with 12.77% vs 12.46% for PMAR. On fees, CMDT is cheaper at 0.65% per year. On volatility, PMAR has been the lower-risk option at 1.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CMDT has performed better with a 12.77% return vs 12.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CMDT is cheaper with a 0.65% expense ratio, compared with 0.79% for PMAR.
CMDT has the higher dividend yield at 2.67%, compared with 0.00% for PMAR.
PMAR is categorized as Defined Outcome, while CMDT is Commodities. PMAR tracks Cboe S&P 500 15% Buffer Protect March Series Index, while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: Innovator and PIMCO. Their fees differ too: 0.79% for PMAR and 0.65% for CMDT.
PMAR currently has the higher Sharpe Ratio (2.68 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.
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