POWA vs. CMDT
POWA (Invesco Bloomberg Pricing Power ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - POWA is a Large Cap Blend Equities fund tracking the Bloomberg Pricing Power 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, POWA returned 9.97%/yr vs 12.77%/yr for CMDT. At a 0.04 correlation, their price movements are largely independent. POWA charges 0.40%/yr vs 0.65%/yr for CMDT.
Performance
POWA vs. CMDT - Performance Comparison
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Returns By Period
In the year-to-date period, POWA achieves a -3.46% return, which is significantly lower than CMDT's 13.43% return.
POWA
- 1D
- 0.05%
- 1M
- -0.36%
- YTD
- -3.46%
- 6M
- -4.44%
- 1Y
- 2.51%
- 3Y*
- 9.97%
- 5Y*
- 7.09%
- 10Y*
- 10.17%
CMDT
- 1D
- -1.14%
- 1M
- -8.86%
- YTD
- 13.43%
- 6M
- 13.42%
- 1Y
- 21.34%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
POWA vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
POWA Invesco Bloomberg Pricing Power ETF | -3.46% | 11.71% | 13.18% | 10.01% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 13.43% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between POWA and CMDT is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | 0.04 |
The correlation between POWA and CMDT shifts across timeframes, from -0.06 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
POWA vs. CMDT — Risk / Return Rank
POWA
CMDT
POWA vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Pricing Power ETF (POWA) 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.
| POWA | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.50 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.29 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | 1.93 | -1.67 |
| Martin ratioReturn relative to average drawdown | 0.65 | 9.62 | -8.97 |
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Drawdowns
POWA vs. CMDT - Drawdown Comparison
The maximum POWA drawdown since its inception was -47.91%, which is greater than CMDT's maximum drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for POWA and CMDT.
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Drawdown Indicators
| POWA | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.91% | -11.11% | -36.80% |
Max Drawdown (1Y)Largest decline over 1 year | -9.76% | -11.11% | +1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -15.00% | -11.11% | -3.89% |
Max Drawdown (5Y)Largest decline over 5 years | -17.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -36.53% | — | — |
Current DrawdownCurrent decline from peak | -7.56% | -11.11% | +3.55% |
Average DrawdownAverage peak-to-trough decline | -6.24% | -2.77% | -3.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 2.25% | +1.64% |
Volatility
POWA vs. CMDT - Volatility Comparison
Invesco Bloomberg Pricing Power ETF (POWA) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) have volatilities of 3.15% and 3.26%, 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
| POWA | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.15% | 3.26% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 8.98% | 10.60% | -1.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.82% | 12.65% | -0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.93% | 12.24% | +1.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.05% | 12.24% | +3.81% |
POWA vs. CMDT - Expense Ratio Comparison
POWA has a 0.40% expense ratio, which is lower than CMDT's 0.65% expense ratio.
Dividends
POWA vs. CMDT - Dividend Comparison
POWA's dividend yield for the trailing twelve months is around 0.97%, less than CMDT's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 2.67% | 3.04% | 8.80% | 2.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
POWA Invesco Bloomberg Pricing Power ETF | 0.97% | 0.94% | 0.79% | 1.60% | 1.48% | 1.06% | 1.34% | 1.16% | 1.39% | 1.63% | 2.18% | 3.31% |
Frequently Asked Questions
POWA and CMDT have a correlation of -0.06, 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 POWA (3.15%). In terms of maximum drawdown, POWA dropped -47.91% vs CMDT's -11.11%.
On 3-year performance, CMDT leads with 12.77% vs 9.97% for POWA. On fees, POWA is cheaper at 0.40% per year. On volatility, POWA has been the lower-risk option at 3.15%. 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 9.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
POWA is cheaper with a 0.40% expense ratio, compared with 0.65% for CMDT.
CMDT has the higher dividend yield at 2.67%, compared with 0.97% for POWA.
POWA is categorized as Large Cap Blend Equities, while CMDT is Commodities. POWA tracks Bloomberg Pricing Power Index, while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: Invesco and PIMCO. Their fees differ too: 0.40% for POWA and 0.65% for CMDT.
CMDT currently has the higher Sharpe Ratio (1.71 vs 0.21), 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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