SYZ vs. CMDT

Last updated Jun 24, 2026

SYZ (Lazard US Systematic Small Cap Equity ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - SYZ is a Small Cap Blend Equities fund actively managed by Lazard, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. SYZ is actively managed, while CMDT is passively managed. At a correlation of -0.05, they often move in opposite directions. SYZ charges 0.60%/yr vs 0.65%/yr for CMDT.

Performance

SYZ vs. CMDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard US Systematic Small Cap Equity ETF (SYZ) 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, SYZ achieves a 19.52% return, which is significantly higher than CMDT's 13.43% return.

SYZ

• 1D: -0.80%
• 1M: 3.17%
• YTD: 19.52%
• 6M: 17.58%
• 1Y: —
• 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)

SYZ vs. CMDT - Yearly Performance Comparison

	2026 (YTD)	2025
SYZ Lazard US Systematic Small Cap Equity ETF	19.52%	0.54%
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund	13.43%	3.37%

Correlation

The correlation between SYZ and CMDT is -0.05, 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 (All Time) Calculated using the full available price history since Sep 15, 2025	-0.05

Return for Risk

SYZ vs. CMDT — Risk / Return Rank

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

SYZ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SYZ vs. CMDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard US Systematic Small Cap Equity ETF (SYZ) 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.

	SYZ	CMDT	Difference
Sharpe ratio: Return per unit of total volatility	—	1.71	—
Sortino ratio: Return per unit of downside risk	—	2.39	—
Omega ratio: Gain probability vs. loss probability	—	1.29	—
Calmar ratio: Return relative to maximum drawdown	—	1.93	—
Martin ratio: Return relative to average drawdown	—	9.62	—

Drawdowns

SYZ vs. CMDT - Drawdown Comparison

The maximum SYZ drawdown since its inception was -8.00%, smaller than the maximum CMDT drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for SYZ and CMDT.

Drawdown Indicators

	SYZ	CMDT	Difference
Max Drawdown Largest peak-to-trough decline	-8.00%	-11.11%	+3.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.11%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-11.11%	—
Current Drawdown Current decline from peak	-0.80%	-11.11%	+10.31%
Average Drawdown Average peak-to-trough decline	-2.01%	-2.77%	+0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.25%	—

Volatility

Volatility by Period

	SYZ	CMDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.26%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.60%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.89%	12.65%	+4.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	12.24%	+4.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	12.24%	+4.65%

SYZ vs. CMDT - Expense Ratio Comparison

SYZ has a 0.60% expense ratio, which is lower than CMDT's 0.65% expense ratio.

Dividends

SYZ vs. CMDT - Dividend Comparison

SYZ's dividend yield for the trailing twelve months is around 0.24%, less 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%
SYZ Lazard US Systematic Small Cap Equity ETF	0.24%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SYZ and CMDT in my portfolio?

SYZ and CMDT have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SYZ or CMDT?

On fees, SYZ is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SYZ or CMDT?

SYZ is cheaper with a 0.60% expense ratio, compared with 0.65% for CMDT.

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

CMDT has the higher dividend yield at 2.67%, compared with 0.24% for SYZ.

What is the main difference between SYZ and CMDT?

SYZ is categorized as Small Cap Blend Equities, while CMDT is Commodities. They also come from different issuers: Lazard and PIMCO. Their fees differ too: 0.60% for SYZ and 0.65% for CMDT.