Stock fact sheet · data as of
PIMCO Commodity & Bond Strategy Active ETF (CMDT): fair value, margin of safety and Wheel Score
Ticker symbol CMDT · Financial Services · Asset Management · United States · Fund / Note
Is CMDT undervalued?
PIMCO Commodity & Bond Strategy Active ETF (CMDT) closed at 30.28 on 5 Nov 2026, close to the GLS average fair value of 30.77 (1.6% below 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.
CMDT looks like a fund, note or preferred share rather than an operating company, so the nightly engine files it under Fund / Note: the valuation models are not built for it, and its Wheel Score is capped at 45.
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 | -83% | 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 | +86% | 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 scans drop the stock at the health filter; a low score is often the reason a stock looks cheap on the valuation models. There is no GLS Moat score for CMDT: funds, notes and second share lines get none, and so does a company with fewer than two years of accounts on file. The Moat part of the Wheel Score is zero.
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 0.9%.
The dividend yield is high at 12.65% (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 | - / 10 | ROE | 0.6% |
| Debt / equity | 0.00 | ROA | 0.6% |
| Free-cash-flow yield | 0.9% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 25: Weak
CMDT scores 25 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 1, options that actually trade - options too quiet (1 open interest, 1 a day); and filter 2, a real business, not a gamble - a fund or note, not a company; and filter 4, financially healthy - Piotroski 1/9 (under 6); and filter 8, big enough - market cap $700M (under $1.0B), and the parts are thin too - value weak, premium strong, moat weak, health weak, red flags strong, option trading weak, stability fair. 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 34% on the near-the-money contracts 20-60 days out: enough to pass the 25-80% Wheel Trade Filter, but under the 35-60% sweet spot the score rewards most. Chain open interest is thin - 1 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 72k shares a day on a market cap of $700M, 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 rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (1 open interest, 1 a day) |
| 2 | A real business, not a gamble | Fails | a fund or note, not a company |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 1/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $700M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 2% below fair value | |
| Premium | Strong | implied volatility 34% | |
| Moat | Weak | no moat score | |
| Health | Weak | Piotroski 1/9 | |
| Red Flags | Strong | Red Flags score 100/100 | |
| Option trading | Weak | 1 contracts a day, 1 open interest | |
| Stability | Fair | beta 0.78, $700M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it 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 & Bond Strategy Active ETF 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.
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|---|---|---|---|---|---|
| SMYIX Franklin Global Equity Fund Class I | 32.05 | 13.99 | -129% | 10No options | $698M |
| CRF Cornerstone Total Return Fund, Inc. | 5.94 | 28.00 | +79% | 25No options | $703M |
| ESMAX Invesco Global Small Cap Equity A | 13.43 | 64.69 | +79% | 25No options | $696M |
| BUI BlackRock Utilities, Infrastructure & Power Opportunities Trust | 26.65 | 113.09 | +76% | 34No options | $707M |
| PFLT PennantPark Floating Rate Capital Ltd. | 6.98 | 28.89 | +76% | 44Weak | $693M |
| RMT Royce Micro-Cap Trust, Inc. | 13.11 | 164.20 | +92% | 30No options | $689M |
| OCCIN OFS Credit Company, Inc. | 25.04 | 17.36 | -44% | 12No options | $687M |
| VLEOX Value Line Small Cap Opportunities Fund, Inc. Investor Class | 62.92 | 25.20 | -150% | 15No options | $717M |
| GEGGL Great Elm Group, Inc. 7.25% Notes due 2027 | 24.66 | 6.30 | -292% | 13No options | $719M |
| CISMX Clarkston Partners Fund Institutional Class | 14.87 | 9.05 | -64% | 15No options | $727M |
| PCIEX PACE International Equity Investments Class P | 21.05 | 40.38 | +48% | 28No options | $728M |
| PWGAX PACE International Equity Investments | 21.29 | 42.24 | +50% | 29No options | $729M |
⚖ 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 30.28 the stock trades within a few percent of the GLS average fair value of 30.77 (1.6% below fair value, data as of 5 Nov 2026).
What is the Wheel Score of CMDT and what does it mean?
CMDT scores 25 out of 100 (Weak) - it fails Wheel Trade Filters 1, 2, 4, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for CMDT?
30.77 per share as of 5 Nov 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 & Bond Strategy Active ETF report earnings next?
No upcoming earnings date is recorded for CMDT in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does CMDT have listed options, and how liquid are they?
Yes. The nightly snapshot found 66 listed contracts with 1 open interest across all expiries and implied volatility of 34% 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.