Stock fact sheet · data as of
PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT): fair value, margin of safety and Wheel Score
Financial Services · Asset Management · United States · Speculative / Distressed
Is CMDT undervalued?
PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) closed at 32.15 on 16 Oct 2026, close to the GLS average fair value of 30.77 (4.5% above fair value). 1 of the 2 models that produced a number sit above the price, 1 below - the market and our models roughly agree. With little margin of safety either way, the case for or against the stock rests on the quality numbers and the option premium rather than on price.
Only 2 of the nine models produced a value (10 Cap, DDM); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.
The nightly engine files CMDT under Speculative / Distressed - negative earnings or a Piotroski score of 3 or less - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for CMDT
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | 5.18 | -84% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 56.36 | +75% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | 0.6404 | -98% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is weak: CMDT passes 1 of the nine Piotroski tests. Our screens drop the stock at the health rule; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 3.1 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.
Returns on capital are thin or negative - ROIC 0.6%, ROE 0.6%, ROA 0.6% - with debt at 0.00 times equity and a free-cash-flow yield of 0.8%.
The dividend yield is high at 11.91% (payout ratio 0%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 10/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 1 / 9 | ROIC | 0.6% |
|---|---|---|---|
| GLS Moat | 3.1 / 10 | ROE | 0.6% |
| Debt / equity | 0.00 | ROA | 0.6% |
| Free-cash-flow yield | 0.8% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 40: Weak
CMDT scores 40 out of 100 on the Wheel Score, in the Weak band (under 50). Value 11/25, Health 2/20, Moat 5/15, Premium 15/20, Stability 7/20. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 30% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (15 of 20 points). Chain open interest is thin - 2 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 48k shares a day on a market cap of $744M, with a beta of 0.78 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 7 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 11 / 25 | -4% margin of safety | |
| Health | 2 / 20 | Piotroski 1/9 | |
| Moat | 5 / 15 | moat 3.1/10 | |
| Premium | 15 / 20 | implied volatility 30% | |
| Stability | 7 / 20 | 48k shares/day, $744M cap, beta 0.78 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for CMDT in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management
The 12 companies below are the closest to PIMCO Commodity Strategy Active Exchange-Traded Fund by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| ARYVX American Century Global Real Estate Fd Inv Cl | 13.79 | 1,087.58 | +99% | 39No options | $747M |
| FTIEX Fidelity Total International Equity Fund | 16.32 | 26.63 | +39% | 39No options | $748M |
| FDUS Fidus Investment Corporation | 19.44 | 38.42 | +49% | 70Good | $738M |
| CPPTL Copper Property CTL Pass Through Trust | 10.00 | 12.49 | +20% | 39No options | $750M |
| THQ Abrdn Healthcare Opportunities Fund | 17.74 | 31.65 | +44% | 39No options | $735M |
| CGBD Carlyle Secured Lending, Inc. | 10.66 | 20.14 | +47% | 78Good | $733M |
| FKIFX Fidelity Freedom Index 2010 Fund - Investor Class | 13.96 | 3.89 | -259% | 22No options | $755M |
| PWGAX PACE International Equity Investments | 21.08 | 42.07 | +50% | 39No options | $727M |
| PCIEX PACE International Equity Investments Class P | 20.84 | 40.38 | +48% | 39No options | $724M |
| BUR Burford Capital Limited | 3.29 | 4.97 | +34% | 45Weak | $722M |
| GEGGL Great Elm Group, Inc. 7.25% Notes due 2027 | 24.73 | 7.62 | -225% | 23No options | $721M |
| BTO John Hancock Financial Opportunities Fund | 36.00 | 118.27 | +70% | 39No options | $713M |
⚖ Compare CMDT with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about CMDT
Is CMDT undervalued right now?
Not meaningfully: at 32.15 the stock trades within a few percent of the GLS average fair value of 30.77 (4.5% above fair value, data as of 16 Oct 2026).
What is the Wheel Score of CMDT and what does it mean?
CMDT scores 40 out of 100 (Weak). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for CMDT?
30.77 per share as of 16 Oct 2026 - the simple average of the 2 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does PIMCO Commodity Strategy Active Exchange-Traded Fund report earnings next?
No upcoming earnings date is recorded for CMDT in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does CMDT have listed options, and how liquid are they?
Yes. The nightly snapshot found 172 listed contracts with 2 open interest across all expiries and implied volatility of 30% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.