QUSA vs. CMDT

Last updated Jun 24, 2026

QUSA (VistaShares Target 15™ USA Quality Income ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - QUSA is a Derivative Income fund actively managed by VistaShares, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. QUSA is actively managed, while CMDT is passively managed. Over the past year, QUSA returned 5.03% vs 21.34% for CMDT. At a correlation of -0.10, they often move in opposite directions. QUSA charges 0.95%/yr vs 0.65%/yr for CMDT.

Performance

QUSA vs. CMDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VistaShares Target 15™ USA Quality Income ETF (QUSA) 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, QUSA achieves a 8.69% return, which is significantly lower than CMDT's 13.43% return.

QUSA

• 1D: -1.11%
• 1M: -0.43%
• YTD: 8.69%
• 6M: 8.33%
• 1Y: 5.03%
• 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)

QUSA vs. CMDT - Yearly Performance Comparison

	2026 (YTD)	2025
QUSA VistaShares Target 15™ USA Quality Income ETF	8.69%	-3.27%
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	13.43%	11.76%

Correlation

The correlation between QUSA and CMDT is -0.09, 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	-0.09
Correlation (All Time) Calculated using the full available price history since May 6, 2025	-0.10

Return for Risk

QUSA vs. CMDT — Risk / Return Rank

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

QUSA

QUSA Risk / Return Rank: 15
QUSA Sharpe Ratio Rank: 16
QUSA Sortino Ratio Rank: 15
QUSA Omega Ratio Rank: 15
QUSA Calmar Ratio Rank: 15
QUSA Martin Ratio Rank: 14

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.

QUSA vs. CMDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VistaShares Target 15™ USA Quality Income ETF (QUSA) 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.

	QUSA	CMDT	Difference
Sharpe ratio: Return per unit of total volatility	0.47	1.71	-1.24
Sortino ratio: Return per unit of downside risk	0.75	2.39	-1.64
Omega ratio: Gain probability vs. loss probability	1.09	1.29	-0.20
Calmar ratio: Return relative to maximum drawdown	0.50	1.93	-1.43
Martin ratio: Return relative to average drawdown	1.19	9.62	-8.43

QUSA vs. CMDT - Sharpe Ratio Comparison

The current QUSA Sharpe Ratio is 0.47, which is lower than the CMDT Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of QUSA 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

QUSA vs. CMDT - Drawdown Comparison

The maximum QUSA drawdown since its inception was -10.64%, roughly equal to the maximum CMDT drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for QUSA and CMDT.

Drawdown Indicators

	QUSA	CMDT	Difference
Max Drawdown Largest peak-to-trough decline	-10.64%	-11.11%	+0.47%
Max Drawdown (1Y) Largest decline over 1 year	-10.12%	-11.11%	+0.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.11%	—
Current Drawdown Current decline from peak	-1.82%	-11.11%	+9.29%
Average Drawdown Average peak-to-trough decline	-3.72%	-2.77%	-0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	2.25%	+1.98%

Volatility

QUSA vs. CMDT - Volatility Comparison

VistaShares Target 15™ USA Quality Income ETF (QUSA) has a higher volatility of 3.79% compared to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) at 3.26%. This indicates that QUSA'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.

Volatility by Period

	QUSA	CMDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	3.26%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	8.65%	10.60%	-1.95%
Volatility (1Y) Calculated over the trailing 1-year period	10.78%	12.65%	-1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.64%	12.24%	-1.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.64%	12.24%	-1.60%

QUSA vs. CMDT - Expense Ratio Comparison

QUSA has a 0.95% expense ratio, which is higher than CMDT's 0.65% expense ratio.

Dividends

QUSA vs. CMDT - Dividend Comparison

QUSA's dividend yield for the trailing twelve months is around 12.60%, more 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%
QUSA VistaShares Target 15™ USA Quality Income ETF	12.60%	6.61%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QUSA and CMDT in my portfolio?

QUSA and CMDT have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QUSA or CMDT?

QUSA has higher volatility (3.79%) compared to CMDT (3.26%). In terms of maximum drawdown, QUSA dropped -10.64% vs CMDT's -11.11%.

Which ETF is better, QUSA or CMDT?

On 1-year performance, CMDT leads with 21.34% vs 5.03% for QUSA. On fees, CMDT is cheaper at 0.65% 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.

Which ETF has performed better, QUSA or CMDT?

Over the 1-year period, CMDT has performed better with a 21.34% return vs 5.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QUSA or CMDT?

CMDT is cheaper with a 0.65% expense ratio, compared with 0.95% for QUSA.

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

QUSA has the higher dividend yield at 12.60%, compared with 2.67% for CMDT.

What is the main difference between QUSA and CMDT?

QUSA is categorized as Derivative Income, while CMDT is Commodities. They also come from different issuers: VistaShares and PIMCO. Their fees differ too: 0.95% for QUSA and 0.65% for CMDT.

Which has better risk-adjusted returns?

CMDT currently has the higher Sharpe Ratio (1.71 vs 0.47), 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.