CMDT vs IVV
PIMCO Commodity Strategy Active Exchange-Traded Fund vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. CMDT delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | CMDT | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.03% | |
| AUM | $826M | $907.0B | |
| Dividend Yield | 1.91% | 1.10% | |
| Holdings | 352 | 508 | |
| YTD Return | +22.53% | +14.29% | |
| 1Y Return | +31.53% | +21.79% | |
| 3Y Return (annualized) | +13.49% | +22.19% | |
| 5Y Return (annualized) | - | +13.28% | |
| Volatility (annualized) | 11.3% | 15.1% | |
| Max Drawdown | -13.2% | -56.5% | |
| Fund Family | PIMCO (US) | iShares by BlackRock (US) | |
| Category | Commodity | Equity | |
| Inception | May 9, 2023 | May 15, 2000 |
CMDT vs IVV Performance
PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) is a ETF from PIMCO (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CMDT returned +31.53% while IVV returned +21.79%. Year to date, CMDT is up 22.53% versus a gain of 14.29% for IVV.
Over three years, CMDT compounded at +13.49% per year against +22.19% for IVV. Across the full 3-year window we track, CMDT has the edge at +14.47% annualized vs +7.06%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 11.3% for CMDT. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -13.2% for CMDT and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.04. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CMDT charges 0.65% per year while IVV charges 0.03%. On a $10,000 position that is $65 vs $3 annually, a gap of $62 per year that compounds over a long holding period. On income, CMDT currently yields 1.91% against 1.10% for IVV.
Holdings Overlap
CMDT and IVV share 0 holdings out of 654 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CMDT or IVV?
CMDT has an expense ratio of 0.65% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $62 per year of difference.
Which performed better, CMDT or IVV?
Over the past year CMDT returned +31.53% vs +21.79% for IVV, so CMDT leads on 1-year performance. Over the longest common window we track (3 years), CMDT annualized +14.47% vs +7.06% for IVV. Past performance does not guarantee future results.
Which is riskier, CMDT or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 11.3% for CMDT. Worst drawdown: CMDT -13.2% vs IVV -56.5%.
Should I hold both CMDT and IVV?
CMDT and IVV have a monthly-return correlation of 0.04, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CMDT and IVV?
CMDT and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 654 unique securities.
Which pays a higher dividend, CMDT or IVV?
CMDT yields 1.91% while IVV yields 1.10%, so CMDT currently pays the higher dividend yield.
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