RZG vs. CMDT
RZG (Invesco S&P SmallCap 600® Pure Growth ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - RZG is a Small Cap Growth Equities fund tracking the S&P Small Cap 600 Pure Growth, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 3 years, RZG returned 20.36%/yr vs 12.77%/yr for CMDT. At a 0.10 correlation, their price movements are largely independent. RZG charges 0.35%/yr vs 0.65%/yr for CMDT.
Performance
RZG vs. CMDT - Performance Comparison
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Returns By Period
In the year-to-date period, RZG achieves a 27.46% return, which is significantly higher than CMDT's 13.43% return.
RZG
- 1D
- -0.21%
- 1M
- 8.64%
- YTD
- 27.46%
- 6M
- 23.58%
- 1Y
- 40.75%
- 3Y*
- 20.36%
- 5Y*
- 5.97%
- 10Y*
- 10.90%
CMDT
- 1D
- -1.14%
- 1M
- -8.86%
- YTD
- 13.43%
- 6M
- 13.42%
- 1Y
- 21.34%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
RZG vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
RZG Invesco S&P SmallCap 600® Pure Growth ETF | 27.46% | 10.22% | 9.84% | 20.58% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 13.43% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between RZG and CMDT is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | 0.10 |
The correlation between RZG and CMDT shifts across timeframes, from -0.10 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RZG vs. CMDT — Risk / Return Rank
RZG
CMDT
RZG vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600® Pure Growth ETF (RZG) 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.
| RZG | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.29 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.75 | 1.93 | +2.82 |
| Martin ratioReturn relative to average drawdown | 16.04 | 9.62 | +6.42 |
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Drawdowns
RZG vs. CMDT - Drawdown Comparison
The maximum RZG drawdown since its inception was -58.52%, which is greater than CMDT's maximum drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for RZG and CMDT.
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Drawdown Indicators
| RZG | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.52% | -11.11% | -47.41% |
Max Drawdown (1Y)Largest decline over 1 year | -8.63% | -11.11% | +2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -25.73% | -11.11% | -14.62% |
Max Drawdown (5Y)Largest decline over 5 years | -38.33% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -54.02% | — | — |
Current DrawdownCurrent decline from peak | -0.21% | -11.11% | +10.90% |
Average DrawdownAverage peak-to-trough decline | -12.09% | -2.77% | -9.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 2.25% | +0.30% |
Volatility
RZG vs. CMDT - Volatility Comparison
Invesco S&P SmallCap 600® Pure Growth ETF (RZG) has a higher volatility of 5.43% compared to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) at 3.26%. This indicates that RZG'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
| RZG | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.43% | 3.26% | +2.17% |
Volatility (6M)Calculated over the trailing 6-month period | 14.15% | 10.60% | +3.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.98% | 12.65% | +6.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.04% | 12.24% | +10.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.65% | 12.24% | +12.41% |
RZG vs. CMDT - Expense Ratio Comparison
RZG has a 0.35% expense ratio, which is lower than CMDT's 0.65% expense ratio.
Dividends
RZG vs. CMDT - Dividend Comparison
RZG's dividend yield for the trailing twelve months is around 0.44%, 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% |
RZG Invesco S&P SmallCap 600® Pure Growth ETF | 0.44% | 0.37% | 0.95% | 1.43% | 1.59% | 0.22% | 0.49% | 0.70% | 0.46% | 0.44% | 0.65% | 0.70% |
Frequently Asked Questions
RZG and CMDT have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RZG has higher volatility (5.43%) compared to CMDT (3.26%). In terms of maximum drawdown, RZG dropped -58.52% vs CMDT's -11.11%.
On 3-year performance, RZG leads with 20.36% vs 12.77% for CMDT. On fees, RZG is cheaper at 0.35% 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, RZG has performed better with a 20.36% return vs 12.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RZG is cheaper with a 0.35% expense ratio, compared with 0.65% for CMDT.
CMDT has the higher dividend yield at 2.67%, compared with 0.44% for RZG.
RZG is categorized as Small Cap Growth Equities, while CMDT is Commodities. RZG tracks S&P Small Cap 600 Pure Growth, while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: Invesco and PIMCO. Their fees differ too: 0.35% for RZG and 0.65% for CMDT.
RZG currently has the higher Sharpe Ratio (2.16 vs 1.71), 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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