QULL vs. COMT
QULL (ETRACS 2x Leveraged MSCI US Quality Factor TR ETN) and COMT (iShares Commodities Select Strategy ETF) are both exchange-traded funds - QULL is a Leveraged Equities fund tracking the MSCI USA Sector Neutral Quality Index, while COMT is a Commodities fund actively managed by iShares. QULL is passively managed, while COMT is actively managed. Over the past 5 years, QULL returned 16.17%/yr vs 13.14%/yr for COMT. At a 0.11 correlation, their price movements are largely independent. QULL charges 0.95%/yr vs 0.48%/yr for COMT.
Performance
QULL vs. COMT - Performance Comparison
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Returns By Period
In the year-to-date period, QULL achieves a 14.91% return, which is significantly lower than COMT's 37.50% return.
QULL
- 1D
- 0.09%
- 1M
- 7.35%
- YTD
- 14.91%
- 6M
- 14.62%
- 1Y
- 37.35%
- 3Y*
- 32.72%
- 5Y*
- 16.17%
- 10Y*
- —
COMT
- 1D
- -1.55%
- 1M
- -5.00%
- YTD
- 37.50%
- 6M
- 36.36%
- 1Y
- 45.51%
- 3Y*
- 16.18%
- 5Y*
- 13.14%
- 10Y*
- 8.79%
QULL vs. COMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QULL ETRACS 2x Leveraged MSCI US Quality Factor TR ETN | 14.91% | 17.61% | 38.03% | 57.07% | -42.00% | 51.36% |
COMT iShares Commodities Select Strategy ETF | 37.50% | 6.07% | 5.96% | -6.56% | 19.45% | 27.20% |
Correlation
The correlation between QULL and COMT is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2021 | 0.11 |
The correlation between QULL and COMT shifts across timeframes, from -0.25 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QULL vs. COMT — Risk / Return Rank
QULL
COMT
QULL vs. COMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) and iShares Commodities Select Strategy ETF (COMT). 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.
| QULL | COMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.38 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 5.70 | -3.66 |
| Martin ratioReturn relative to average drawdown | 9.01 | 13.42 | -4.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QULL | COMT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 2.14 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.63 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.20 | +0.36 |
Drawdowns
QULL vs. COMT - Drawdown Comparison
The maximum QULL drawdown since its inception was -51.83%, roughly equal to the maximum COMT drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for QULL and COMT.
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Drawdown Indicators
| QULL | COMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.83% | -51.89% | +0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -18.43% | -8.02% | -10.41% |
Max Drawdown (3Y)Largest decline over 3 years | -36.82% | -13.31% | -23.51% |
Max Drawdown (5Y)Largest decline over 5 years | -51.83% | -29.00% | -22.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.22% | — |
Current DrawdownCurrent decline from peak | -0.30% | -6.30% | +6.00% |
Average DrawdownAverage peak-to-trough decline | -14.05% | -24.06% | +10.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 3.40% | +0.75% |
Volatility
QULL vs. COMT - Volatility Comparison
The current volatility for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) is 4.58%, while iShares Commodities Select Strategy ETF (COMT) has a volatility of 7.46%. This indicates that QULL experiences smaller price fluctuations and is considered to be less risky than COMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QULL | COMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.58% | 7.46% | -2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 18.76% | 18.88% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.43% | 21.36% | +3.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.61% | 21.07% | +14.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.13% | 18.89% | +16.24% |
QULL vs. COMT - Expense Ratio Comparison
QULL has a 0.95% expense ratio, which is higher than COMT's 0.48% expense ratio.
Dividends
QULL vs. COMT - Dividend Comparison
QULL has not paid dividends to shareholders, while COMT's dividend yield for the trailing twelve months is around 5.63%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares Commodities Select Strategy ETF | 5.63% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
QULL ETRACS 2x Leveraged MSCI US Quality Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QULL and COMT have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COMT has higher volatility (7.46%) compared to QULL (4.58%). In terms of maximum drawdown, QULL dropped -51.83% vs COMT's -51.89%.
On 5-year performance, QULL leads with 16.17% vs 13.14% for COMT. On fees, COMT is cheaper at 0.48% per year. On volatility, QULL has been the lower-risk option at 4.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QULL has performed better with a 16.17% return vs 13.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 0.95% for QULL.
COMT has the higher dividend yield at 5.63%, compared with 0.00% for QULL.
QULL is categorized as Leveraged Equities, while COMT is Commodities. They also come from different issuers: UBS and iShares. Their fees differ too: 0.95% for QULL and 0.48% for COMT.
COMT currently has the higher Sharpe Ratio (2.14 vs 1.54), 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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