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Launched · SEC filings

PIMCO Commodity Strategy Active Exchange-Traded Fund

CMDTNYSE ArcaPIMCOB

$31.15−0.52 (−1.64%)

At close: Nov 2, 2026, 4:00 PM ET

B63/ 100

Rank 4 of 14 in Commodity Futures

B63/100Rank 4 of 14inCommodity Futures
Intraday session: down, 79 prints from 31.67 to 31.15. Range 31.10 to 31.38. Use the arrow keys to read each point.31.3031.4031.5031.6010 AM12 PM2 PM4 PM
Expense ratio
0.65%*
Fund size
$849M
1Y total return
+25.9%
Yield · Last 12 months
12.30%
Holdings
351
Avg volume · 30D
65.9K sh
52W range
low $26.98high $36.86
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Oct 31, 2027. Without it: 0.97%.

The ETF.net CMDT Grade

Based on 5 of 6 pillars

B

Score 63 out of 100

Category
Commodity Futures⁠
Rank
4 of 14
Six-pillar profile for CMDT. Scores out of 100: Cost 61, Risk 80, Mission not scored, Tradability 51, Holdings 70, Durability 72. Strongest: Risk (80). Weakest: Tradability (51). Based on 5 of 6 pillars.

Score 63 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B61 out of 100
    Rank 6 of 14

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A80 out of 100
    Rank 2 of 14

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C51 out of 100
    Rank 7 of 14

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A70 out of 100
    Rank 2 of 5

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A72 out of 100
    Rank 3 of 14

Our read on CMDT

ETF.net Research

In short

BPIMCO took the standard commodity futures fund and added the thing it is known for: an actively managed bond portfolio sitting behind the commodity bets. The mandate is to beat the Bloomberg Commodity Index, not mirror it.

Stated mandate

The fund aims to achieve a total return that outperforms the Bloomberg Commodity Index Total Return, while maintaining prudent investment management.

Why people hold it

  • Active by design. The stated objective is to outperform the Bloomberg Commodity Index Total Return, not replicate it.
  • Two engines in one ticker: swaps, futures and commodity-linked notes for the commodity exposure, an actively managed fixed income portfolio as the collateral behind them.
  • A 1940 Act fund that routes commodity-linked exposure through a Cayman subsidiary, so holders get a 1099 rather than a partnership K-1.
  • Global commodity reach spread across roughly 300 positions, with cash distributed quarterly.

Worth knowing

  • At 0.98% a year, it sits above cheaper index-based options in the commodity futures group such as PDBC (0.74%) and HARD (0.78%). Active management is what the premium buys.
  • Tracking is not the goal here. Manager calls can push results away from the Bloomberg Commodity Index in either direction.
  • The bond collateral sleeve brings interest rate and credit sensitivity that a plain futures-and-Treasuries commodity fund does not carry.

CMDT Holdings

Holdings pillarA70 out of 100Rank 2 of 5 in Commodity Futures
Asset class
Other
Holdings
351
Top-10 weight
29%
Largest holding
Us Dollar8.2%

Sectors

  • Financials100.0%

Geography

  • United States89.29%
  • Canada10.71%
The fund’s holdings, weight-ordered — page 1 of 24.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataUs Dollar8.17%34,584,210$69.2M244
2No dataCCRDRXUS9 Futures Coc USD Rbc Cm Collateral 3.48% 12/31/20306.22%526,470$52.6M2
3MINTPimco Enhanced Short Maturity Pimco Enhanced Short Maturit5.24%440,115$44.3M7
4No dataVistra Operations Co Llc Company Guar 144A 01/27 3.7 3.70% 01/30/20271.58%133,995$13.4M9
5No dataCpde Invt Co Llc 4.36% 01/08/20271.48%125,994$12.5M3
6No dataJti Finl Svcs North Amer Llc 11/26 Zcp 4.36% 11/20/20261.47%125,000$12.5M2
7No dataRogers Communications In Company Guar 03/27 3.65 3.65% 03/31/20271.30%154,005$11M2
8No dataBank of Montreal Sr Unsecured 06/27 4.309 4.31% 06/01/20271.22%144,007$10.4M3
9No dataBrent Crude Futr JUN27 Ifeu 20270430 04/30/20271.16%99,851$9.81M1
10No dataCrown Castle 4.42% 12/01/20261.14%96,999$9.66M2
11No dataAercap Ireland Cap/Globa Company Guar 04/27 6.45 6.45% 04/15/20271.14%95,537$9.62M9
12No dataBrent Crude Futr JAN27 Ifeu 20261130 11/30/20261.07%79,550$9.02M1
13No dataTelus Corp 4.41% 11/24/20261.04%88,002$8.77M1
14No dataTranscanada Pipelines Sr Unsecured 04/27 3.8 3.80% 04/05/20271.03%122,004$8.74M1
15No dataPermian Res Oper Llc Disc Coml 11/26 Zcp 4.38% 11/23/20261.02%87,000$8.67M2

Showing 1–15 of 351 holdings

CMDT Performance

Launched May 9, 2023

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
CMDT$12,589
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. CMDT $12,589. SPY $11,146. Use the arrow keys to read each point.$10,000$11,000$12,000$13,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for CMDT. Periods over one year show the average yearly return.
PeriodCMDT
Year to date+26.0%
1 month−1.5%
3 months+5.5%
1 year+25.9%
3 yearsper year+13.3%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for CMDT
YearReturn barCMDT
2026 YTD+26.0%
2025+12.8%
2024+6.9%
2023+6.6%

History from May 11, 2023

CMDT in the news

CMDT Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 2, 2026.
12.30%Last 12 months
Payout per share
$3.83Last 12 months
Last payment
$3.20 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2023–2026

One bar per payment. 15 payments from 2023 to 2026 YTD. Jul 3, 2023 $0.03; Oct 2, 2023 $0.32; Dec 11, 2023 $0.03; Dec 28, 2023 $0.31; Apr 1, 2024 $0.27; Jul 1, 2024 $0.26; Oct 1, 2024 $0.76; Dec 31, 2024 $0.93; Apr 1, 2025 $0.20; Jul 1, 2025 $0.21; Oct 1, 2025 $0.21; Dec 31, 2025 $0.22; Apr 1, 2026 $0.19; Jul 1, 2026 $0.22; Oct 1, 2026 $3.20. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Oct 1, 2026Oct 5, 2026$3.20
Jul 1, 2026Jul 6, 2026$0.22
Apr 1, 2026Apr 3, 2026$0.19
Dec 31, 2025Jan 5, 2026$0.22
Oct 1, 2025Oct 3, 2025$0.21
Jul 1, 2025Jul 3, 2025$0.21
Apr 1, 2025Apr 3, 2025$0.20
Dec 31, 2024Jan 3, 2025$0.93
Oct 1, 2024Oct 3, 2024$0.76
Jul 1, 2024Jul 3, 2024$0.26
Apr 1, 2024Apr 4, 2024$0.27
Dec 28, 2023Jan 3, 2024$0.31

See all 15 payments⁠

$10,000 in CMDT 3 years ago paid $2,589 in dividends.⁠

CMDT Risk

Risk pillarA80 out of 100Rank 2 of 14 in Commodity Futures
How much the fund’s monthly returns vary, scaled to a year.
11.5%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.83
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−13.2%
41 months · trough Jun 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.78
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

CMDT Cost

Compare CMDT and USG

Overpaying vs USG, cheapest in Commodity Futures

$3,676

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • CMDT 0.65%

    $12,717

  • USG 0.45% Cheapest

    $9,041

$10,000
30 years

Cost over time

  • CMDT 0.65%
  • USG 0.45%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530CMDT $12,717USG $9,041

Year by year

YearCMDTUSGOverpaying
10$1,163$812$351
20$4,440$3,128$1,312
30$12,717$9,041$3,676
How the 0.65% is worked out

Full fee 0.97%− waiver 0.32%= you pay 0.65%

The waiver ends Oct 31, 2027. After that the fee is 0.97% unless PIMCO renews it. Source: prospectus, Oct 2026.

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