RWR vs. CMDT

Last updated Jun 24, 2026

RWR (SPDR Dow Jones REIT ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - RWR is a REIT fund tracking the Dow Jones U.S. Select REIT 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, RWR returned 13.63%/yr vs 12.77%/yr for CMDT. At a 0.00 correlation, their price movements are largely independent. RWR charges 0.25%/yr vs 0.65%/yr for CMDT.

Performance

RWR vs. CMDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Dow Jones REIT ETF (RWR) 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, RWR achieves a 16.14% return, which is significantly higher than CMDT's 13.43% return.

RWR

• 1D: 1.31%
• 1M: 1.96%
• YTD: 16.14%
• 6M: 16.59%
• 1Y: 19.02%
• 3Y*: 13.63%
• 5Y*: 4.96%
• 10Y*: 5.51%

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)

RWR vs. CMDT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RWR SPDR Dow Jones REIT ETF	16.14%	3.20%	7.74%	10.56%
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	13.43%	12.78%	6.93%	5.37%

Correlation

The correlation between RWR 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 (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (All Time) Calculated using the full available price history since May 10, 2023	0.00

Return for Risk

RWR vs. CMDT — Risk / Return Rank

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

RWR

RWR Risk / Return Rank: 43
RWR Sharpe Ratio Rank: 41
RWR Sortino Ratio Rank: 38
RWR Omega Ratio Rank: 37
RWR Calmar Ratio Rank: 51
RWR Martin Ratio Rank: 50

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.

RWR vs. CMDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones REIT ETF (RWR) 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.

	RWR	CMDT	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.71	-0.34
Sortino ratio: Return per unit of downside risk	1.89	2.39	-0.50
Omega ratio: Gain probability vs. loss probability	1.24	1.29	-0.05
Calmar ratio: Return relative to maximum drawdown	2.38	1.93	+0.45
Martin ratio: Return relative to average drawdown	8.03	9.62	-1.59

RWR vs. CMDT - Sharpe Ratio Comparison

The current RWR Sharpe Ratio is 1.37, which is comparable to the CMDT Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of RWR 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

RWR vs. CMDT - Drawdown Comparison

The maximum RWR drawdown since its inception was -74.92%, which is greater than CMDT's maximum drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for RWR and CMDT.

Drawdown Indicators

	RWR	CMDT	Difference
Max Drawdown Largest peak-to-trough decline	-74.92%	-11.11%	-63.81%
Max Drawdown (1Y) Largest decline over 1 year	-8.04%	-11.11%	+3.07%
Max Drawdown (3Y) Largest decline over 3 years	-18.85%	-11.11%	-7.74%
Max Drawdown (5Y) Largest decline over 5 years	-32.58%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.39%	—	—
Current Drawdown Current decline from peak	-0.46%	-11.11%	+10.65%
Average Drawdown Average peak-to-trough decline	-13.08%	-2.77%	-10.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.38%	2.25%	+0.13%

Volatility

RWR vs. CMDT - Volatility Comparison

SPDR Dow Jones REIT ETF (RWR) has a higher volatility of 5.42% compared to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) at 3.26%. This indicates that RWR'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

	RWR	CMDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	3.26%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	10.37%	10.60%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	14.05%	12.65%	+1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.05%	12.24%	+6.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.55%	12.24%	+9.31%

RWR vs. CMDT - Expense Ratio Comparison

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

Dividends

RWR vs. CMDT - Dividend Comparison

RWR's dividend yield for the trailing twelve months is around 3.36%, more 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%
RWR SPDR Dow Jones REIT ETF	3.36%	3.78%	3.76%	3.75%	3.81%	2.79%	3.73%	3.36%	4.19%	3.05%	4.39%	3.17%

Frequently Asked Questions

Can I hold both RWR and CMDT in my portfolio?

RWR 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, RWR or CMDT?

RWR has higher volatility (5.42%) compared to CMDT (3.26%). In terms of maximum drawdown, RWR dropped -74.92% vs CMDT's -11.11%.

Which ETF is better, RWR or CMDT?

On 3-year performance, RWR leads with 13.63% vs 12.77% for CMDT. On fees, RWR is cheaper at 0.25% 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, RWR or CMDT?

Over the 3-year period, RWR has performed better with a 13.63% return vs 12.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWR or CMDT?

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

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

RWR has the higher dividend yield at 3.36%, compared with 2.67% for CMDT.

What is the main difference between RWR and CMDT?

RWR is categorized as REIT, while CMDT is Commodities. RWR tracks Dow Jones U.S. Select REIT Index, while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: State Street and PIMCO. Their fees differ too: 0.25% for RWR and 0.65% for CMDT.

Which has better risk-adjusted returns?

CMDT currently has the higher Sharpe Ratio (1.71 vs 1.37), 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.