XSLV vs. CMDT
XSLV (Invesco S&P SmallCap Low Volatility ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - XSLV is a Volatility Hedged Equity fund tracking the S&P SmallCap 600 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, XSLV returned 9.56%/yr vs 12.77%/yr for CMDT. At a 0.01 correlation, their price movements are largely independent. XSLV charges 0.25%/yr vs 0.65%/yr for CMDT.
Performance
XSLV vs. CMDT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XSLV achieves a 9.97% return, which is significantly lower than CMDT's 15.54% return.
XSLV
- 1D
- 0.78%
- 1M
- 1.50%
- YTD
- 9.97%
- 6M
- 8.82%
- 1Y
- 15.00%
- 3Y*
- 9.56%
- 5Y*
- 4.23%
- 10Y*
- 5.80%
CMDT
- 1D
- -0.25%
- 1M
- -7.16%
- YTD
- 15.54%
- 6M
- 17.31%
- 1Y
- 21.62%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
XSLV vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XSLV Invesco S&P SmallCap Low Volatility ETF | 9.97% | 0.31% | 9.81% | 15.30% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 15.54% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between XSLV and CMDT is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | 0.01 |
The correlation between XSLV and CMDT shifts across timeframes, from -0.18 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XSLV vs. CMDT — Risk / Return Rank
XSLV
CMDT
XSLV vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Low Volatility ETF (XSLV) 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.
| XSLV | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.30 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 2.30 | -0.31 |
| Martin ratioReturn relative to average drawdown | 5.67 | 9.95 | -4.28 |
Loading charts...
Drawdowns
XSLV vs. CMDT - Drawdown Comparison
The maximum XSLV drawdown since its inception was -44.34%, which is greater than CMDT's maximum drawdown of -9.69%. Use the drawdown chart below to compare losses from any high point for XSLV and CMDT.
Loading charts...
Drawdown Indicators
| XSLV | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.34% | -9.69% | -34.65% |
Max Drawdown (1Y)Largest decline over 1 year | -7.46% | -9.46% | +2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -18.35% | -9.69% | -8.66% |
Max Drawdown (5Y)Largest decline over 5 years | -24.72% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -44.34% | — | — |
Current DrawdownCurrent decline from peak | -1.74% | -9.46% | +7.72% |
Average DrawdownAverage peak-to-trough decline | -7.27% | -2.75% | -4.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 2.19% | +0.43% |
Volatility
XSLV vs. CMDT - Volatility Comparison
Invesco S&P SmallCap Low Volatility ETF (XSLV) has a higher volatility of 4.54% compared to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) at 3.30%. This indicates that XSLV'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.
Loading charts...
Volatility by Period
| XSLV | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.54% | 3.30% | +1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 9.35% | 10.50% | -1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.45% | 12.57% | +0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.69% | 12.23% | +4.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.95% | 12.23% | +7.72% |
XSLV vs. CMDT - Expense Ratio Comparison
XSLV has a 0.25% expense ratio, which is lower than CMDT's 0.65% expense ratio.
Dividends
XSLV vs. CMDT - Dividend Comparison
XSLV's dividend yield for the trailing twelve months is around 2.52%, 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% |
XSLV Invesco S&P SmallCap Low Volatility ETF | 2.52% | 2.14% | 2.55% | 2.35% | 2.78% | 1.05% | 2.49% | 2.43% | 2.75% | 1.87% | 1.96% | 2.20% |
Frequently Asked Questions
XSLV and CMDT have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XSLV has higher volatility (4.54%) compared to CMDT (3.30%). In terms of maximum drawdown, XSLV dropped -44.34% vs CMDT's -9.69%.
On 3-year performance, CMDT leads with 12.77% vs 9.56% for XSLV. On fees, XSLV is cheaper at 0.25% per year. On volatility, CMDT has been the lower-risk option at 3.30%. 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 9.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSLV is cheaper with a 0.25% expense ratio, compared with 0.65% for CMDT.
CMDT has the higher dividend yield at 2.62%, compared with 2.52% for XSLV.
XSLV is categorized as Volatility Hedged Equity, while CMDT is Commodities. XSLV tracks S&P SmallCap 600 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 XSLV and 0.65% for CMDT.
CMDT currently has the higher Sharpe Ratio (1.73 vs 1.11), 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.
Find the right allocation for XSLV and CMDT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer