UEQU.DE vs. CMOE.DE
UEQU.DE (UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc) and CMOE.DE (Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc) are both Commodities funds - UEQU.DE tracks the UBS CMCI Ex Agriculture Ex Livestock Capped while CMOE.DE tracks the Bloomberg Commodity (EUR Hedged). Both are passively managed. Over the past 3 years, UEQU.DE returned 14.81%/yr vs 13.22%/yr for CMOE.DE. A 0.77 correlation means they provide meaningful diversification when combined. UEQU.DE charges 0.34%/yr vs 0.24%/yr for CMOE.DE.
Performance
UEQU.DE vs. CMOE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UEQU.DE achieves a 25.53% return, which is significantly higher than CMOE.DE's 21.57% return.
UEQU.DE
- 1D
- -0.80%
- 1M
- 2.99%
- YTD
- 25.53%
- 6M
- 26.95%
- 1Y
- 40.51%
- 3Y*
- 14.81%
- 5Y*
- 14.40%
- 10Y*
- 10.80%
CMOE.DE
- 1D
- -1.32%
- 1M
- -1.55%
- YTD
- 21.57%
- 6M
- 21.82%
- 1Y
- 33.83%
- 3Y*
- 13.22%
- 5Y*
- —
- 10Y*
- —
UEQU.DE vs. CMOE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UEQU.DE UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc | 25.53% | 6.36% | 13.03% | -8.33% | 8.59% |
CMOE.DE Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc | 21.57% | 14.96% | 2.92% | -9.62% | -0.48% |
Correlation
The correlation between UEQU.DE and CMOE.DE is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2022 | 0.77 |
The correlation between UEQU.DE and CMOE.DE has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.
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Return for Risk
UEQU.DE vs. CMOE.DE — Risk / Return Rank
UEQU.DE
CMOE.DE
UEQU.DE vs. CMOE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc (UEQU.DE) and Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE). 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.
| UEQU.DE | CMOE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.37 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 6.29 | 4.49 | +1.80 |
| Martin ratioReturn relative to average drawdown | 15.25 | 10.26 | +4.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UEQU.DE | CMOE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.60 | 2.00 | +0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.37 | +0.28 |
Drawdowns
UEQU.DE vs. CMOE.DE - Drawdown Comparison
The maximum UEQU.DE drawdown since its inception was -30.56%, roughly equal to the maximum CMOE.DE drawdown of -29.97%. Use the drawdown chart below to compare losses from any high point for UEQU.DE and CMOE.DE.
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Drawdown Indicators
| UEQU.DE | CMOE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.56% | -29.97% | -0.59% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -7.70% | +1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -15.66% | -11.83% | -3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -22.44% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.56% | — | — |
Current DrawdownCurrent decline from peak | -1.21% | -5.48% | +4.27% |
Average DrawdownAverage peak-to-trough decline | -8.92% | -19.33% | +10.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 3.38% | -0.69% |
Volatility
UEQU.DE vs. CMOE.DE - Volatility Comparison
The current volatility for UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc (UEQU.DE) is 3.91%, while Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE) has a volatility of 5.18%. This indicates that UEQU.DE experiences smaller price fluctuations and is considered to be less risky than CMOE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UEQU.DE | CMOE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 5.18% | -1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 13.03% | 15.26% | -2.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.73% | 17.28% | -1.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.83% | 16.62% | +0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.41% | 16.62% | -0.21% |
UEQU.DE vs. CMOE.DE - Expense Ratio Comparison
UEQU.DE has a 0.34% expense ratio, which is higher than CMOE.DE's 0.24% expense ratio.
Dividends
UEQU.DE vs. CMOE.DE - Dividend Comparison
Neither UEQU.DE nor CMOE.DE has paid dividends to shareholders.
Frequently Asked Questions
UEQU.DE and CMOE.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMOE.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMOE.DE is cheaper with a 0.24% expense ratio, compared with 0.34% for UEQU.DE.
UEQU.DE tracks UBS CMCI Ex Agriculture Ex Livestock Capped, while CMOE.DE tracks Bloomberg Commodity (EUR Hedged). They also come from different issuers: UBS and Invesco. Their fees differ too: 0.34% for UEQU.DE and 0.24% for CMOE.DE.
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