SPBU vs. COMT

Last updated Jun 24, 2026

SPBU (AllianzIM Buffer15 Uncapped Allocation ETF) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both exchange-traded funds - SPBU is a Defined Outcome fund actively managed by Allianz, while COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index. SPBU is actively managed, while COMT is passively managed. Over the past year, SPBU returned 17.39% vs 25.27% for COMT. At a correlation of -0.04, they often move in opposite directions. SPBU charges 0.79%/yr vs 0.48%/yr for COMT.

Performance

SPBU vs. COMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM Buffer15 Uncapped Allocation ETF (SPBU) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPBU achieves a 5.93% return, which is significantly lower than COMT's 23.88% return.

SPBU

• 1D: -1.16%
• 1M: -1.29%
• YTD: 5.93%
• 6M: 4.96%
• 1Y: 17.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

COMT

• 1D: -0.93%
• 1M: -11.91%
• YTD: 23.88%
• 6M: 22.75%
• 1Y: 25.27%
• 3Y*: 12.01%
• 5Y*: 10.76%
• 10Y*: 7.96%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPBU vs. COMT - Yearly Performance Comparison

	2026 (YTD)	2025
SPBU AllianzIM Buffer15 Uncapped Allocation ETF	5.93%	13.01%
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF	23.88%	5.82%

Correlation

The correlation between SPBU and COMT is -0.14, 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	-0.14
Correlation (All Time) Calculated using the full available price history since Mar 6, 2025	-0.04

Return for Risk

SPBU vs. COMT — Risk / Return Rank

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

SPBU

SPBU Risk / Return Rank: 57
SPBU Sharpe Ratio Rank: 57
SPBU Sortino Ratio Rank: 57
SPBU Omega Ratio Rank: 55
SPBU Calmar Ratio Rank: 55
SPBU Martin Ratio Rank: 63

COMT

COMT Risk / Return Rank: 36
COMT Sharpe Ratio Rank: 35
COMT Sortino Ratio Rank: 34
COMT Omega Ratio Rank: 34
COMT Calmar Ratio Rank: 34
COMT Martin Ratio Rank: 44

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.

SPBU vs. COMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM Buffer15 Uncapped Allocation ETF (SPBU) and iShares GSCI Commodity Dynamic Roll 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.

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.

	SPBU	COMT	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.20	+0.54
Sortino ratio: Return per unit of downside risk	2.48	1.71	+0.76
Omega ratio: Gain probability vs. loss probability	1.31	1.22	+0.09
Calmar ratio: Return relative to maximum drawdown	2.46	1.63	+0.83
Martin ratio: Return relative to average drawdown	10.31	6.99	+3.32

SPBU vs. COMT - Sharpe Ratio Comparison

The current SPBU Sharpe Ratio is 1.74, which is higher than the COMT Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of SPBU and COMT, 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

SPBU vs. COMT - Drawdown Comparison

The maximum SPBU drawdown since its inception was -8.61%, smaller than the maximum COMT drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for SPBU and COMT.

Drawdown Indicators

	SPBU	COMT	Difference
Max Drawdown Largest peak-to-trough decline	-8.61%	-51.89%	+43.28%
Max Drawdown (1Y) Largest decline over 1 year	-7.10%	-15.58%	+8.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.00%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.22%	—
Current Drawdown Current decline from peak	-2.77%	-15.58%	+12.81%
Average Drawdown Average peak-to-trough decline	-1.32%	-24.00%	+22.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	3.65%	-1.96%

Volatility

SPBU vs. COMT - Volatility Comparison

The current volatility for AllianzIM Buffer15 Uncapped Allocation ETF (SPBU) is 3.99%, while iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) has a volatility of 5.02%. This indicates that SPBU 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.

Volatility by Period

	SPBU	COMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	5.02%	-1.03%
Volatility (6M) Calculated over the trailing 6-month period	7.72%	19.24%	-11.52%
Volatility (1Y) Calculated over the trailing 1-year period	10.05%	21.45%	-11.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.88%	21.13%	-9.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.88%	18.86%	-6.98%

SPBU vs. COMT - Expense Ratio Comparison

SPBU has a 0.79% expense ratio, which is higher than COMT's 0.48% expense ratio.

Dividends

SPBU vs. COMT - Dividend Comparison

SPBU has not paid dividends to shareholders, while COMT's dividend yield for the trailing twelve months is around 6.25%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF	6.25%	7.74%	4.90%	5.19%	29.79%	17.79%	0.36%	2.61%	11.65%	5.16%	0.52%	1.44%
SPBU AllianzIM Buffer15 Uncapped Allocation ETF	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

Can I hold both SPBU and COMT in my portfolio?

SPBU and COMT have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPBU or COMT?

COMT has higher volatility (5.02%) compared to SPBU (3.99%). In terms of maximum drawdown, SPBU dropped -8.61% vs COMT's -51.89%.

Which ETF is better, SPBU or COMT?

On 1-year performance, COMT leads with 25.27% vs 17.39% for SPBU. On fees, COMT is cheaper at 0.48% per year. On volatility, SPBU has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPBU or COMT?

Over the 1-year period, COMT has performed better with a 25.27% return vs 17.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPBU or COMT?

COMT is cheaper with a 0.48% expense ratio, compared with 0.79% for SPBU.

Which ETF pays a higher dividend yield, SPBU or COMT?

COMT has the higher dividend yield at 6.25%, compared with 0.00% for SPBU.

What is the main difference between SPBU and COMT?

SPBU is categorized as Defined Outcome, while COMT is Commodities. They also come from different issuers: Allianz and iShares. Their fees differ too: 0.79% for SPBU and 0.48% for COMT.

Which has better risk-adjusted returns?

SPBU currently has the higher Sharpe Ratio (1.74 vs 1.20), 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.