QQLV vs. CMDT

Last updated Jun 24, 2026

QQLV (Invesco QQQ Low Volatility ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - QQLV is a Large Cap Blend Equities fund tracking the Nasdaq Low Volatility Index, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past year, QQLV returned -0.14% vs 21.34% for CMDT. At a correlation of -0.05, they often move in opposite directions. QQLV charges 0.25%/yr vs 0.65%/yr for CMDT.

Performance

QQLV vs. CMDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Low Volatility ETF (QQLV) 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, QQLV achieves a 2.18% return, which is significantly lower than CMDT's 13.43% return.

QQLV

• 1D: 0.70%
• 1M: -1.30%
• YTD: 2.18%
• 6M: 1.84%
• 1Y: -0.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CMDT

• 1D: -1.14%
• 1M: -8.86%
• YTD: 13.43%
• 6M: 13.42%
• 1Y: 21.34%
• 3Y*: 12.77%
• 5Y*: —
• 10Y*: —

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

QQLV vs. CMDT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQLV Invesco QQQ Low Volatility ETF	2.18%	4.19%	-5.60%
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	13.43%	12.78%	1.05%

Correlation

The correlation between QQLV and CMDT is -0.08, 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	-0.08
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	-0.05

Return for Risk

QQLV vs. CMDT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQLV

QQLV Risk / Return Rank: 8
QQLV Sharpe Ratio Rank: 9
QQLV Sortino Ratio Rank: 8
QQLV Omega Ratio Rank: 8
QQLV Calmar Ratio Rank: 9
QQLV Martin Ratio Rank: 9

CMDT

CMDT Risk / Return Rank: 50
CMDT Sharpe Ratio Rank: 53
CMDT Sortino Ratio Rank: 52
CMDT Omega Ratio Rank: 48
CMDT Calmar Ratio Rank: 41
CMDT Martin Ratio Rank: 58

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QQLV vs. CMDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Low Volatility ETF (QQLV) 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.

	QQLV	CMDT	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	1.71	-1.72
Sortino ratio: Return per unit of downside risk	0.05	2.39	-2.34
Omega ratio: Gain probability vs. loss probability	1.01	1.29	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.02	1.93	-1.95
Martin ratio: Return relative to average drawdown	-0.04	9.62	-9.66

QQLV vs. CMDT - Sharpe Ratio Comparison

The current QQLV Sharpe Ratio is -0.01, which is lower than the CMDT Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of QQLV 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

QQLV vs. CMDT - Drawdown Comparison

The maximum QQLV drawdown since its inception was -9.54%, smaller than the maximum CMDT drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for QQLV and CMDT.

Drawdown Indicators

	QQLV	CMDT	Difference
Max Drawdown Largest peak-to-trough decline	-9.54%	-11.11%	+1.57%
Max Drawdown (1Y) Largest decline over 1 year	-7.35%	-11.11%	+3.76%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.11%	—
Current Drawdown Current decline from peak	-3.38%	-11.11%	+7.73%
Average Drawdown Average peak-to-trough decline	-3.17%	-2.77%	-0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	2.25%	+1.51%

Volatility

QQLV vs. CMDT - Volatility Comparison

Invesco QQQ Low Volatility ETF (QQLV) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) have volatilities of 3.24% 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.

Volatility by Period

	QQLV	CMDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.24%	3.26%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	7.52%	10.60%	-3.08%
Volatility (1Y) Calculated over the trailing 1-year period	10.34%	12.65%	-2.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.69%	12.24%	+0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.69%	12.24%	+0.45%

QQLV vs. CMDT - Expense Ratio Comparison

QQLV has a 0.25% expense ratio, which is lower than CMDT's 0.65% expense ratio.

Dividends

QQLV vs. CMDT - Dividend Comparison

QQLV's dividend yield for the trailing twelve months is around 2.10%, less than CMDT's 2.67% yield.

Position	TTM	2025	2024	2023
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	2.67%	3.04%	8.80%	2.71%
QQLV Invesco QQQ Low Volatility ETF	2.10%	1.84%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQLV and CMDT in my portfolio?

QQLV and CMDT have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQLV or CMDT?

CMDT has higher volatility (3.26%) compared to QQLV (3.24%). In terms of maximum drawdown, QQLV dropped -9.54% vs CMDT's -11.11%.

Which ETF is better, QQLV or CMDT?

On 1-year performance, CMDT leads with 21.34% vs -0.14% for QQLV. On fees, QQLV is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQLV or CMDT?

Over the 1-year period, CMDT has performed better with a 21.34% return vs -0.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQLV or CMDT?

QQLV is cheaper with a 0.25% expense ratio, compared with 0.65% for CMDT.

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

CMDT has the higher dividend yield at 2.67%, compared with 2.10% for QQLV.

What is the main difference between QQLV and CMDT?

QQLV is categorized as Large Cap Blend Equities, while CMDT is Commodities. QQLV tracks Nasdaq Low Volatility Index, while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: Invesco and PIMCO. Their fees differ too: 0.25% for QQLV and 0.65% for CMDT.

Which has better risk-adjusted returns?

CMDT currently has the higher Sharpe Ratio (1.71 vs -0.01), 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.