UMDD vs. CMDT
UMDD (ProShares UltraPro MidCap400) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - UMDD is a Leveraged Equities fund tracking the S&P MidCap 400 Index (300%), while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 3 years, UMDD returned 25.89%/yr vs 12.77%/yr for CMDT. At a 0.10 correlation, their price movements are largely independent. UMDD charges 0.95%/yr vs 0.65%/yr for CMDT.
Performance
UMDD vs. CMDT - Performance Comparison
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Returns By Period
In the year-to-date period, UMDD achieves a 38.16% return, which is significantly higher than CMDT's 13.43% return.
UMDD
- 1D
- -2.96%
- 1M
- 7.10%
- YTD
- 38.16%
- 6M
- 30.23%
- 1Y
- 64.17%
- 3Y*
- 25.89%
- 5Y*
- 3.07%
- 10Y*
- 13.11%
CMDT
- 1D
- -1.14%
- 1M
- -8.86%
- YTD
- 13.43%
- 6M
- 13.42%
- 1Y
- 21.34%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
UMDD vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UMDD ProShares UltraPro MidCap400 | 38.16% | -2.57% | 19.68% | 32.68% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 13.43% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between UMDD and CMDT is -0.04, 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 (1Y) Calculated over the trailing 1-year period | -0.04 |
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 UMDD and CMDT shifts across timeframes, from -0.04 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UMDD vs. CMDT — Risk / Return Rank
UMDD
CMDT
UMDD vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro MidCap400 (UMDD) 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.
| UMDD | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.29 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 1.93 | +0.55 |
| Martin ratioReturn relative to average drawdown | 8.28 | 9.62 | -1.34 |
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Drawdowns
UMDD vs. CMDT - Drawdown Comparison
The maximum UMDD drawdown since its inception was -86.24%, which is greater than CMDT's maximum drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for UMDD and CMDT.
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Drawdown Indicators
| UMDD | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.24% | -11.11% | -75.13% |
Max Drawdown (1Y)Largest decline over 1 year | -26.04% | -11.11% | -14.93% |
Max Drawdown (3Y)Largest decline over 3 years | -60.33% | -11.11% | -49.22% |
Max Drawdown (5Y)Largest decline over 5 years | -64.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -86.24% | — | — |
Current DrawdownCurrent decline from peak | -5.38% | -11.11% | +5.73% |
Average DrawdownAverage peak-to-trough decline | -23.55% | -2.77% | -20.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.77% | 2.25% | +5.52% |
Volatility
UMDD vs. CMDT - Volatility Comparison
ProShares UltraPro MidCap400 (UMDD) has a higher volatility of 13.54% compared to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) at 3.26%. This indicates that UMDD'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
| UMDD | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.54% | 3.26% | +10.28% |
Volatility (6M)Calculated over the trailing 6-month period | 35.31% | 10.60% | +24.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.51% | 12.65% | +34.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.96% | 12.24% | +46.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.23% | 12.24% | +49.99% |
UMDD vs. CMDT - Expense Ratio Comparison
UMDD has a 0.95% expense ratio, which is higher than CMDT's 0.65% expense ratio.
Dividends
UMDD vs. CMDT - Dividend Comparison
UMDD's dividend yield for the trailing twelve months is around 0.76%, 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% |
UMDD ProShares UltraPro MidCap400 | 0.76% | 1.00% | 0.76% | 0.19% | 0.49% | 0.06% | 0.08% | 0.64% | 0.32% | 0.00% | 0.03% | 0.06% |
Frequently Asked Questions
UMDD and CMDT have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UMDD has higher volatility (13.54%) compared to CMDT (3.26%). In terms of maximum drawdown, UMDD dropped -86.24% vs CMDT's -11.11%.
On 3-year performance, UMDD leads with 25.89% vs 12.77% for CMDT. 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, UMDD has performed better with a 25.89% return vs 12.77%. 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 UMDD.
CMDT has the higher dividend yield at 2.67%, compared with 0.76% for UMDD.
UMDD is categorized as Leveraged Equities, while CMDT is Commodities. UMDD tracks S&P MidCap 400 Index (300%), 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 UMDD and 0.65% for CMDT.
CMDT currently has the higher Sharpe Ratio (1.71 vs 1.36), 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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