XMVM vs. CMDT
XMVM (Invesco S&P MidCap Value with Momentum ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - XMVM is a Momentum fund tracking the S&P MidCap 400 High Momentum Value 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, XMVM returned 17.68%/yr vs 12.77%/yr for CMDT. At a 0.12 correlation, their price movements are largely independent. XMVM charges 0.39%/yr vs 0.65%/yr for CMDT.
Performance
XMVM vs. CMDT - Performance Comparison
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Returns By Period
In the year-to-date period, XMVM achieves a 9.41% return, which is significantly lower than CMDT's 15.54% return.
XMVM
- 1D
- -0.03%
- 1M
- 3.04%
- YTD
- 9.41%
- 6M
- 7.97%
- 1Y
- 31.96%
- 3Y*
- 17.68%
- 5Y*
- 11.85%
- 10Y*
- 11.84%
CMDT
- 1D
- -0.25%
- 1M
- -9.16%
- YTD
- 15.54%
- 6M
- 17.61%
- 1Y
- 21.69%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
XMVM vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XMVM Invesco S&P MidCap Value with Momentum ETF | 9.41% | 18.46% | 11.73% | 22.96% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 15.54% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between XMVM and CMDT is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | 0.12 |
The correlation between XMVM and CMDT shifts across timeframes, from -0.08 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XMVM vs. CMDT — Risk / Return Rank
XMVM
CMDT
XMVM vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Value with Momentum ETF (XMVM) 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.
| XMVM | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.30 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 2.30 | +1.20 |
| Martin ratioReturn relative to average drawdown | 10.82 | 9.95 | +0.87 |
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Drawdowns
XMVM vs. CMDT - Drawdown Comparison
The maximum XMVM drawdown since its inception was -62.83%, which is greater than CMDT's maximum drawdown of -9.69%. Use the drawdown chart below to compare losses from any high point for XMVM and CMDT.
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Drawdown Indicators
| XMVM | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.83% | -9.69% | -53.14% |
Max Drawdown (1Y)Largest decline over 1 year | -9.18% | -9.46% | +0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -24.12% | -9.69% | -14.43% |
Max Drawdown (5Y)Largest decline over 5 years | -24.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | — | — |
Current DrawdownCurrent decline from peak | -2.43% | -9.46% | +7.03% |
Average DrawdownAverage peak-to-trough decline | -10.25% | -2.75% | -7.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 2.19% | +0.77% |
Volatility
XMVM vs. CMDT - Volatility Comparison
Invesco S&P MidCap Value with Momentum ETF (XMVM) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) have volatilities of 3.34% and 3.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMVM | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 3.30% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 9.61% | 10.50% | -0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.25% | 12.57% | +2.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.47% | 12.23% | +9.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.80% | 12.23% | +10.57% |
XMVM vs. CMDT - Expense Ratio Comparison
XMVM has a 0.39% expense ratio, which is lower than CMDT's 0.65% expense ratio.
Dividends
XMVM vs. CMDT - Dividend Comparison
XMVM's dividend yield for the trailing twelve months is around 1.93%, less than CMDT's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 2.62% | 3.04% | 8.80% | 2.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XMVM Invesco S&P MidCap Value with Momentum ETF | 1.93% | 2.07% | 1.43% | 1.57% | 1.76% | 1.10% | 1.37% | 1.73% | 2.87% | 2.22% | 2.27% | 2.58% |
Frequently Asked Questions
XMVM and CMDT have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XMVM has higher volatility (3.34%) compared to CMDT (3.30%). In terms of maximum drawdown, XMVM dropped -62.83% vs CMDT's -9.69%.
On 3-year performance, XMVM leads with 17.68% vs 12.77% for CMDT. On fees, XMVM is cheaper at 0.39% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XMVM has performed better with a 17.68% return vs 12.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XMVM is cheaper with a 0.39% expense ratio, compared with 0.65% for CMDT.
CMDT has the higher dividend yield at 2.62%, compared with 1.93% for XMVM.
XMVM is categorized as Momentum, while CMDT is Commodities. XMVM tracks S&P MidCap 400 High Momentum Value Index, while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: Invesco and PIMCO. Their fees differ too: 0.39% for XMVM and 0.65% for CMDT.
XMVM currently has the higher Sharpe Ratio (2.11 vs 1.73), 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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