XMLV vs. CMDT
XMLV (Invesco S&P MidCap Low Volatility ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - XMLV is a Volatility Hedged Equity fund tracking the S&P MidCap 400 Low Volatility Index, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 3 years, XMLV returned 12.11%/yr vs 12.77%/yr for CMDT. At a 0.04 correlation, their price movements are largely independent. XMLV charges 0.25%/yr vs 0.65%/yr for CMDT.
Performance
XMLV vs. CMDT - Performance Comparison
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Returns By Period
In the year-to-date period, XMLV achieves a 6.54% return, which is significantly lower than CMDT's 13.43% return.
XMLV
- 1D
- 1.16%
- 1M
- 0.71%
- YTD
- 6.54%
- 6M
- 5.89%
- 1Y
- 8.99%
- 3Y*
- 12.11%
- 5Y*
- 6.73%
- 10Y*
- 8.05%
CMDT
- 1D
- -1.14%
- 1M
- -8.86%
- YTD
- 13.43%
- 6M
- 13.42%
- 1Y
- 21.34%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
XMLV vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XMLV Invesco S&P MidCap Low Volatility ETF | 6.54% | 5.55% | 17.08% | 6.05% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 13.43% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between XMLV and CMDT is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | 0.04 |
The correlation between XMLV and CMDT shifts across timeframes, from -0.11 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XMLV vs. CMDT — Risk / Return Rank
XMLV
CMDT
XMLV vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Low Volatility ETF (XMLV) 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.
| XMLV | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.29 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 1.93 | -0.65 |
| Martin ratioReturn relative to average drawdown | 4.18 | 9.62 | -5.45 |
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Drawdowns
XMLV vs. CMDT - Drawdown Comparison
The maximum XMLV drawdown since its inception was -39.86%, which is greater than CMDT's maximum drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for XMLV and CMDT.
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Drawdown Indicators
| XMLV | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.86% | -11.11% | -28.75% |
Max Drawdown (1Y)Largest decline over 1 year | -7.03% | -11.11% | +4.08% |
Max Drawdown (3Y)Largest decline over 3 years | -13.80% | -11.11% | -2.69% |
Max Drawdown (5Y)Largest decline over 5 years | -16.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.86% | — | — |
Current DrawdownCurrent decline from peak | -1.18% | -11.11% | +9.93% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -2.77% | -1.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 2.25% | -0.09% |
Volatility
XMLV vs. CMDT - Volatility Comparison
Invesco S&P MidCap Low Volatility ETF (XMLV) has a higher volatility of 4.09% compared to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) at 3.26%. This indicates that XMLV'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
| XMLV | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.09% | 3.26% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 7.86% | 10.60% | -2.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.70% | 12.65% | -1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.48% | 12.24% | +2.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.97% | 12.24% | +4.73% |
XMLV vs. CMDT - Expense Ratio Comparison
XMLV has a 0.25% expense ratio, which is lower than CMDT's 0.65% expense ratio.
Dividends
XMLV vs. CMDT - Dividend Comparison
XMLV's dividend yield for the trailing twelve months is around 2.98%, more 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% |
XMLV Invesco S&P MidCap Low Volatility ETF | 2.98% | 2.87% | 2.23% | 2.34% | 2.05% | 1.14% | 1.93% | 2.02% | 2.13% | 1.74% | 1.72% | 1.85% |
Frequently Asked Questions
XMLV and CMDT have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XMLV has higher volatility (4.09%) compared to CMDT (3.26%). In terms of maximum drawdown, XMLV dropped -39.86% vs CMDT's -11.11%.
On 3-year performance, CMDT leads with 12.77% vs 12.11% for XMLV. On fees, XMLV is cheaper at 0.25% 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, CMDT has performed better with a 12.77% return vs 12.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XMLV is cheaper with a 0.25% expense ratio, compared with 0.65% for CMDT.
XMLV has the higher dividend yield at 2.98%, compared with 2.67% for CMDT.
XMLV is categorized as Volatility Hedged Equity, while CMDT is Commodities. XMLV tracks S&P MidCap 400 Low Volatility Index, while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: Invesco and PIMCO. Their fees differ too: 0.25% for XMLV and 0.65% for CMDT.
CMDT currently has the higher Sharpe Ratio (1.71 vs 0.85), 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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