Invesco MSCI Global Timber ETF (CUT) Performance
CUT total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −3.4% since Dec 31, 2025
- 1 year
- −2.1% total return
- 5 years
- −2.9% a year
- 10 years
- +3.8% a year
- Since first price
- +2.8% a year since 2007
CUT trailing returns vs SPY, QQQ, AGG
| Period | CUT total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.2% | −4.2% | −1.0% | −5.0% | +0.9% |
| 3 months | −0.3% | −0.3% | +3.2% | +1.9% | −0.4% |
| 6 months | −0.6% | −0.6% | +7.8% | +8.4% | −1.5% |
| YTD | −3.4% | −3.4% | +12.3% | +15.1% | −1.0% |
| 1 year | −2.1% | −4.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +8.0%+2.6%/yr | −0.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −13.5%−2.9%/yr | −23.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +45.8%+3.8%/yr | +15.3% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +128.9%+5.7%/yr | +65.1% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionNov 9, 2007 | +68.0%+2.8%/yr | +12.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: CUT vs SPY
From Nov 9, 2007: CUT grew to $16,795, SPY to $74,089.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CUT returns by calendar year
11 of 18 full years positive. Best 2009 (+50.2%), worst 2008 (−48.7%). 2026 is year to date.
CUT annual returns table
| Year | CUT | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −3.4% | −19.6% | +12.3% | +15.1% | −1.0% |
| 2025 | −5.9% | −18.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +1.8% | −10.0% | +24.9% | +25.6% | +1.3% |
| 2023 | +8.6% | −14.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −16.4% | −28.2% | −18.2% | −32.6% | −13.0% |
| 2021 | +12.3% | −11.6% | +28.7% | +27.4% | −1.8% |
| 2020 | +18.1% | −39.0% | +18.3% | +48.6% | +7.5% |
| 2019 | +23.4% | −15.1% | +31.2% | +39.0% | +8.5% |
| 2018 | −21.7% | −30.4% | −4.6% | −0.1% | +0.1% |
| 2017 | +30.4% | −4.7% | +21.7% | +32.7% | +3.6% |
| 2016 | +7.3% | −16.2% | +12.0% | +7.1% | +2.4% |
| 2015 | −1.3% | −18.4% | +1.2% | +9.4% | +0.5% |
| 2014 | −3.8% | −15.8% | +13.5% | +19.2% | +6.0% |
| 2013 | +28.5% | −10.3% | +32.3% | +36.6% | −2.0% |
| 2012 | +25.1% | −20.8% | +16.0% | +18.1% | +3.8% |
| 2011 | −17.9% | −34.3% | +1.9% | +3.4% | +7.7% |
| 2010 | +18.2% | −18.6% | +15.1% | +19.9% | +6.4% |
| 2009 | +50.2% | −42.1% | +26.4% | +54.7% | +3.0% |
| 2008 | −48.7% | −60.1% | −36.8% | −41.7% | +7.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
CUT largest drawdowns
Now 21.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 10, 2007 | −70.0% | Mar 9, 2009 | Mar 14, 2013 | 1.2 years | 5.3 years |
| Jun 6, 2018 | −45.8% | Mar 23, 2020 | Dec 8, 2020 | 1.8 years | 2.5 years |
| May 10, 2021 | −31.2% | Sep 26, 2022 | not yet | 1.4 years | 5.5 years so far |
| May 20, 2015 | −27.1% | Feb 11, 2016 | Jan 24, 2017 | 9 months | 1.7 years |
| Mar 6, 2014 | −15.8% | Oct 16, 2014 | Feb 12, 2015 | 7 months | 11 months |
| May 20, 2013 | −10.3% | Jun 24, 2013 | Jul 18, 2013 | 35 days | 59 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
CUT risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +0.3% | −2.6% | +3.6% | +2.8% |
| Volatility (annualized) | 16.3% | 17.8% | 18.5% | 22.9% |
| Sharpe ratio | -0.17 | -0.26 | 0.16 | 0.18 |
| Sortino ratio | -0.24 | -0.35 | 0.23 | 0.26 |
| Best month | +8.2% | +9.6% | +14.4% | +31.8% |
| Worst month | −9.5% | −13.1% | −15.1% | −29.3% |
| Best 12 months | +21.7% | +23.7% | +74.5% | +100.5% |
| Worst 12 months | −16.0% | −22.5% | −23.7% | −59.5% |
| Positive months | 50% | 47% | 57% | 57% |
| Beta vs S&P 500 | 0.56 | 0.72 | 0.90 | — |
| Correlation with S&P 500 | 0.43 | 0.63 | 0.75 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
CUT rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 216 | −59.5% | +4.6% | +100.5% | 58% |
| 3-year (a year) | 192 | −6.3% | +5.7% | +32.7% | 87% |
| 5-year (a year) | 168 | −4.2% | +6.4% | +27.2% | 92% |
| 10-year (a year) | 108 | +3.4% | +6.2% | +14.6% | 100% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
CUT performance overview
Invesco MSCI Global Timber ETF (CUT) returned −2.1% over the past year and +3.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +2.8% a year, turning $10,000 into about $16,795. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −70.0%, from Dec 10, 2007 to Mar 9, 2009, and it took 4.0 years to get back to the old high. CUT finished 11 of its 18 full calendar years with a gain; the best year was 2009 (+50.2%) and the worst 2008 (−48.7%). Volatility has been 22.9% a year.
Related: CUT chart, CUT holdings, CUT dividends. See the CUT overview for the latest quote and fund facts.
CUT performance FAQ
What is the CUT return over the past year?
CUT returned −2.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.5%.
What is the average annual return of CUT?
CUT has returned −2.9% a year over 5 years, +3.8% a year over 10 years, +2.8% a year since November 9, 2007 (total return, distributions reinvested).
How much would $10,000 invested in CUT be worth?
$10,000 invested in CUT at its first recorded close on November 9, 2007 would be worth about $16,795 on October 23, 2026 with distributions reinvested.
What was the worst year for CUT?
The worst calendar year was 2008, with a total return of −48.7%. The best was 2009 at +50.2%.
What is the biggest drawdown of CUT?
The largest peak-to-trough decline was −70.0% between December 10, 2007 and March 9, 2009. It recovered to the old high on March 14, 2013, 4.0 years after the bottom.
How volatile is CUT?
Over the past 3 years CUT had an annualized volatility of 16.3% and a Sharpe ratio of -0.17 (excess return over 1–3 month T-bills per unit of risk).