PSCH vs. CMDT
PSCH (Invesco S&P SmallCap Health Care ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - PSCH is a Health & Biotech Equities fund tracking the S&P SmallCap 600 Health Care 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, PSCH returned 4.19%/yr vs 12.77%/yr for CMDT. At a 0.01 correlation, their price movements are largely independent. PSCH charges 0.29%/yr vs 0.65%/yr for CMDT.
Performance
PSCH vs. CMDT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PSCH achieves a 11.73% return, which is significantly lower than CMDT's 13.43% return.
PSCH
- 1D
- 1.22%
- 1M
- 10.05%
- YTD
- 11.73%
- 6M
- 7.03%
- 1Y
- 24.00%
- 3Y*
- 4.19%
- 5Y*
- -5.17%
- 10Y*
- 8.18%
CMDT
- 1D
- -1.14%
- 1M
- -8.86%
- YTD
- 13.43%
- 6M
- 13.42%
- 1Y
- 21.34%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
PSCH vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PSCH Invesco S&P SmallCap Health Care ETF | 11.73% | -0.49% | 3.77% | -2.91% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 13.43% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between PSCH and CMDT is -0.12, 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 | -0.12 |
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 | 0.01 |
The correlation between PSCH and CMDT shifts across timeframes, from -0.12 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PSCH vs. CMDT — Risk / Return Rank
PSCH
CMDT
PSCH vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Health Care ETF (PSCH) 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.
| PSCH | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.29 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 1.93 | -0.36 |
| Martin ratioReturn relative to average drawdown | 4.73 | 9.62 | -4.89 |
Loading charts...
Drawdowns
PSCH vs. CMDT - Drawdown Comparison
The maximum PSCH drawdown since its inception was -46.32%, which is greater than CMDT's maximum drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for PSCH and CMDT.
Loading charts...
Drawdown Indicators
| PSCH | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.32% | -11.11% | -35.21% |
Max Drawdown (1Y)Largest decline over 1 year | -15.36% | -11.11% | -4.25% |
Max Drawdown (3Y)Largest decline over 3 years | -22.98% | -11.11% | -11.87% |
Max Drawdown (5Y)Largest decline over 5 years | -46.32% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.32% | — | — |
Current DrawdownCurrent decline from peak | -23.82% | -11.11% | -12.71% |
Average DrawdownAverage peak-to-trough decline | -13.50% | -2.77% | -10.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.08% | 2.25% | +2.83% |
Volatility
PSCH vs. CMDT - Volatility Comparison
Invesco S&P SmallCap Health Care ETF (PSCH) has a higher volatility of 4.90% compared to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) at 3.26%. This indicates that PSCH'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.
Loading charts...
Volatility by Period
| PSCH | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.90% | 3.26% | +1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 14.54% | 10.60% | +3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.45% | 12.65% | +7.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.94% | 12.24% | +10.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.63% | 12.24% | +11.39% |
PSCH vs. CMDT - Expense Ratio Comparison
PSCH has a 0.29% expense ratio, which is lower than CMDT's 0.65% expense ratio.
Dividends
PSCH vs. CMDT - Dividend Comparison
PSCH's dividend yield for the trailing twelve months is around 0.01%, less than CMDT's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PSCH Invesco S&P SmallCap Health Care ETF | 0.01% | 0.04% | 0.27% | 0.01% | 2.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% |
Frequently Asked Questions
PSCH and CMDT have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSCH has higher volatility (4.90%) compared to CMDT (3.26%). In terms of maximum drawdown, PSCH dropped -46.32% vs CMDT's -11.11%.
On 3-year performance, CMDT leads with 12.77% vs 4.19% for PSCH. On fees, PSCH is cheaper at 0.29% per year. On volatility, CMDT has been the lower-risk option at 3.26%. 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 4.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSCH is cheaper with a 0.29% expense ratio, compared with 0.65% for CMDT.
CMDT has the higher dividend yield at 2.67%, compared with 0.01% for PSCH.
PSCH is categorized as Health & Biotech Equities, while CMDT is Commodities. PSCH tracks S&P SmallCap 600 Health Care Index, while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: Invesco and PIMCO. Their fees differ too: 0.29% for PSCH and 0.65% for CMDT.
CMDT currently has the higher Sharpe Ratio (1.71 vs 1.18), 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.
Find the right allocation for PSCH and CMDT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer