CMDT vs QQQ
PIMCO Commodity Strategy Active Exchange-Traded Fund vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. CMDT delivered stronger 1-year returns. CMDT offers more diversification with 352 holdings.
Side-by-Side Comparison
| Metric | CMDT | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.18% | |
| AUM | $826M | $496.3B | |
| Dividend Yield | 1.91% | 0.44% | |
| Holdings | 352 | 108 | |
| YTD Return | +23.90% | +19.32% | |
| 1Y Return | +32.34% | +27.08% | |
| 3Y Return (annualized) | +13.74% | +27.54% | |
| 5Y Return (annualized) | - | +15.51% | |
| Volatility (annualized) | 11.4% | 30.6% | |
| Max Drawdown | -13.2% | -83.0% | |
| Fund Family | PIMCO (US) | Invesco (US) | |
| Category | Commodity | Equity | |
| Inception | May 9, 2023 | Mar 10, 1999 |
CMDT vs QQQ Performance
PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) is a ETF from PIMCO (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CMDT returned +32.34% while QQQ returned +27.08%. Year to date, CMDT is up 23.90% versus a gain of 19.32% for QQQ.
Over three years, CMDT compounded at +13.74% per year against +27.54% for QQQ. Across the full 3-year window we track, CMDT has the edge at +14.82% annualized vs +13.13%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 11.4% 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 -83.0% for QQQ. 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 QQQ charges 0.18%. On a $10,000 position that is $65 vs $18 annually, a gap of $47 per year that compounds over a long holding period. On income, CMDT currently yields 1.91% against 0.44% for QQQ.
Holdings Overlap
CMDT and QQQ share 0 holdings out of 251 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 QQQ?
CMDT has an expense ratio of 0.65% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, CMDT or QQQ?
Over the past year CMDT returned +32.34% vs +27.08% for QQQ, so CMDT leads on 1-year performance. Over the longest common window we track (3 years), CMDT annualized +14.82% vs +13.13% for QQQ. Past performance does not guarantee future results.
Which is riskier, CMDT or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 11.4% for CMDT. Worst drawdown: CMDT -13.2% vs QQQ -83.0%.
Should I hold both CMDT and QQQ?
CMDT and QQQ 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 QQQ?
CMDT and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 251 unique securities.
Which pays a higher dividend, CMDT or QQQ?
CMDT yields 1.91% while QQQ yields 0.44%, so CMDT currently pays the higher dividend yield.
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