RXL vs. CMDT
RXL (ProShares Ultra Health Care) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - RXL is a Leveraged Equities fund tracking the Dow Jones U.S. Health Care Index (200%), while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 3 years, RXL returned 4.63%/yr vs 12.77%/yr for CMDT. At a correlation of -0.09, they often move in opposite directions. RXL charges 0.95%/yr vs 0.65%/yr for CMDT.
Performance
RXL vs. CMDT - Performance Comparison
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Returns By Period
In the year-to-date period, RXL achieves a -5.37% return, which is significantly lower than CMDT's 13.43% return.
RXL
- 1D
- 2.50%
- 1M
- 3.01%
- YTD
- -5.37%
- 6M
- -5.67%
- 1Y
- 26.56%
- 3Y*
- 4.63%
- 5Y*
- 1.95%
- 10Y*
- 13.05%
CMDT
- 1D
- -1.14%
- 1M
- -8.86%
- YTD
- 13.43%
- 6M
- 13.42%
- 1Y
- 21.34%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
RXL vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
RXL ProShares Ultra Health Care | -5.37% | 19.76% | -2.72% | 2.78% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 13.43% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between RXL and CMDT is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | -0.09 |
The correlation between RXL and CMDT shifts across timeframes, from -0.19 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RXL vs. CMDT — Risk / Return Rank
RXL
CMDT
RXL vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Health Care (RXL) 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.
| RXL | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.29 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 1.93 | -0.68 |
| Martin ratioReturn relative to average drawdown | 2.85 | 9.62 | -6.77 |
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Drawdowns
RXL vs. CMDT - Drawdown Comparison
The maximum RXL drawdown since its inception was -67.70%, which is greater than CMDT's maximum drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for RXL and CMDT.
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Drawdown Indicators
| RXL | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.70% | -11.11% | -56.59% |
Max Drawdown (1Y)Largest decline over 1 year | -21.33% | -11.11% | -10.22% |
Max Drawdown (3Y)Largest decline over 3 years | -36.08% | -11.11% | -24.97% |
Max Drawdown (5Y)Largest decline over 5 years | -36.08% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -51.00% | — | — |
Current DrawdownCurrent decline from peak | -14.00% | -11.11% | -2.89% |
Average DrawdownAverage peak-to-trough decline | -15.85% | -2.77% | -13.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.33% | 2.25% | +7.08% |
Volatility
RXL vs. CMDT - Volatility Comparison
ProShares Ultra Health Care (RXL) has a higher volatility of 10.70% compared to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) at 3.26%. This indicates that RXL'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.
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Volatility by Period
| RXL | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.70% | 3.26% | +7.44% |
Volatility (6M)Calculated over the trailing 6-month period | 21.46% | 10.60% | +10.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.42% | 12.65% | +17.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.76% | 12.24% | +17.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.28% | 12.24% | +21.04% |
RXL vs. CMDT - Expense Ratio Comparison
RXL has a 0.95% expense ratio, which is higher than CMDT's 0.65% expense ratio.
Dividends
RXL vs. CMDT - Dividend Comparison
RXL's dividend yield for the trailing twelve months is around 1.54%, less 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% |
RXL ProShares Ultra Health Care | 1.54% | 1.43% | 1.22% | 0.18% | 0.32% | 0.10% | 0.15% | 0.27% | 0.32% | 0.11% | 0.12% | 0.93% |
Frequently Asked Questions
RXL and CMDT have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RXL has higher volatility (10.70%) compared to CMDT (3.26%). In terms of maximum drawdown, RXL dropped -67.70% vs CMDT's -11.11%.
On 3-year performance, CMDT leads with 12.77% vs 4.63% for RXL. 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.
Over the 3-year period, CMDT has performed better with a 12.77% return vs 4.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CMDT is cheaper with a 0.65% expense ratio, compared with 0.95% for RXL.
CMDT has the higher dividend yield at 2.67%, compared with 1.54% for RXL.
RXL is categorized as Leveraged Equities, while CMDT is Commodities. RXL tracks Dow Jones U.S. Health Care Index (200%), while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: ProShares and PIMCO. Their fees differ too: 0.95% for RXL and 0.65% for CMDT.
CMDT currently has the higher Sharpe Ratio (1.71 vs 0.88), 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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