CMDT vs SPY
PIMCO Commodity Strategy Active Exchange-Traded Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, CMDT or SPY?
Commodities against Large Cap Blend.
SPY has a lower expense ratio. CMDT led over 1Y, SPY over 3Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CMDT | SPY |
|---|---|---|
| Expense Ratio | 0.65% | 0.09%Best |
| AUM | $858M | $814.4B |
| Dividend Yield | 1.91% | 1.01% |
| Holdings | 352 | 505 |
| YTD Return | +28.68%Best | +13.34% |
| 1Y Return | +34.22%Best | +19.97% |
| 3Y Return (annualized) | +13.84% | +21.20%Best |
| 5Y Return (annualized) | - | +12.81% |
| Volatility (annualized) | 11.6%Best | 12.7% |
| Max Drawdown | -13.2%Best | -18.8% |
| $10,000 over 3.3 years | $16,273 | $19,353Best |
| Fund Family | PIMCO (US) | State Street Investment Management |
| Category | Commodity | Equity |
| Style | Commodities | Large Cap Blend |
| Inception | May 9, 2023 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: May 10, 2023 to Sep 4, 2026 (3.3 years).
CMDT vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.3 years both funds cover.
CMDT vs SPY Performance
PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) is an ETF from PIMCO (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CMDT returned +34.22% while SPY returned +19.97%. Year to date, CMDT is up 28.68% versus a gain of 13.34% for SPY.
Over three years, CMDT compounded at +13.84% per year against +21.20% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.7% compared with 11.6% 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 -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.05. They move largely independently of each other.
Fees and Cost Over Time
CMDT charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, CMDT currently yields 1.91% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 149 holdings in CMDT and 504 in SPY, totalling 49.3% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 149 positions we hold weights for in CMDT and 504 in SPY, against full books of 352 and 505.
You are not choosing between two funds in isolation.
Whichever of CMDT and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CMDT or SPY?
CMDT has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, CMDT or SPY?
Over the past year CMDT returned +34.22% vs +19.97% for SPY, so CMDT leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CMDT or SPY?
SPY has been the more volatile fund at 12.7% annualized versus 11.6% for CMDT. Worst drawdown: CMDT -13.2% vs SPY -18.8%.
Should I hold both CMDT and SPY?
CMDT and SPY have a monthly-return correlation of 0.05, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CMDT or SPY?
CMDT yields 1.91% while SPY yields 1.01%, so CMDT currently pays the higher dividend yield.
Is SPY better than CMDT?
SPY has a lower expense ratio. CMDT led over 1Y, SPY over 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.