^CASHX vs. PDBC

Last updated Apr 1, 2026

Compare and contrast key facts about US Money Market Index (^CASHX) and Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC).

PDBC is an actively managed fund by Invesco. It was launched on Nov 7, 2014.

Performance

^CASHX vs. PDBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Money Market Index (^CASHX) and Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC). The values are adjusted to include any dividend payments, if applicable.

^CASHX vs. PDBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^CASHX US Money Market Index	0.88%	4.21%	5.16%	5.03%	1.68%	0.08%	0.37%	2.16%	1.83%	1.00%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	30.72%	5.96%	2.09%	-6.25%	19.23%	41.72%	-7.84%	11.44%	-12.78%	5.06%

Returns By Period

In the year-to-date period, ^CASHX achieves a 0.88% return, which is significantly lower than PDBC's 30.72% return. Over the past 10 years, ^CASHX has underperformed PDBC with an annualized return of 2.25%, while PDBC has yielded a comparatively higher 9.86% annualized return.

^CASHX

• 1D: 0.01%
• 1M: 0.28%
• YTD: 0.88%
• 6M: 1.85%
• 1Y: 4.03%
• 3Y*: 4.72%
• 5Y*: 3.39%
• 10Y*: 2.25%

PDBC

• 1D: -1.03%
• 1M: 16.09%
• YTD: 30.72%
• 6M: 33.97%
• 1Y: 32.00%
• 3Y*: 11.28%
• 5Y*: 14.29%
• 10Y*: 9.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

^CASHX vs. PDBC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PDBC

PDBC Risk / Return Rank: 85
PDBC Sharpe Ratio Rank: 87
PDBC Sortino Ratio Rank: 87
PDBC Omega Ratio Rank: 83
PDBC Calmar Ratio Rank: 91
PDBC Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^CASHX vs. PDBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Money Market Index (^CASHX) and Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	^CASHX	PDBC	Difference
Sharpe ratio Return per unit of total volatility	266.24	1.72	+264.52
Sortino ratio Return per unit of downside risk	—	2.31	—
Omega ratio Gain probability vs. loss probability	—	1.31	—
Calmar ratio Return relative to maximum drawdown	—	3.04	—
Martin ratio Return relative to average drawdown	—	7.48	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^CASHX vs. PDBC - Sharpe Ratio Comparison

The current ^CASHX Sharpe Ratio is 266.24, which is higher than the PDBC Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of ^CASHX and PDBC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	^CASHX	PDBC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	266.24	1.72	+264.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	33.33	0.76	+32.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	23.26	0.56	+22.70
Sharpe Ratio (All Time) Calculated using the full available price history	25.97	0.22	+25.75

Correlation

The correlation between ^CASHX and PDBC is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Drawdowns

^CASHX vs. PDBC - Drawdown Comparison

The maximum ^CASHX drawdown since its inception was 0.00%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for ^CASHX and PDBC.

Drawdown Indicators

	^CASHX	PDBC	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-49.52%	+49.52%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-11.07%	+11.07%
Max Drawdown (5Y) Largest decline over 5 years	0.00%	-27.63%	+27.63%
Max Drawdown (10Y) Largest decline over 10 years	0.00%	-40.73%	+40.73%
Current Drawdown Current decline from peak	0.00%	-1.03%	+1.03%
Average Drawdown Average peak-to-trough decline	0.00%	-23.53%	+23.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	4.50%	-4.50%

Volatility

^CASHX vs. PDBC - Volatility Comparison

The current volatility for US Money Market Index (^CASHX) is 0.00%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 8.15%. This indicates that ^CASHX experiences smaller price fluctuations and is considered to be less risky than PDBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^CASHX	PDBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	8.15%	-8.15%
Volatility (6M) Calculated over the trailing 6-month period	0.01%	13.88%	-13.87%
Volatility (1Y) Calculated over the trailing 1-year period	0.01%	18.72%	-18.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.08%	18.92%	-18.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.08%	17.69%	-17.61%