APBDX vs. PDBC
APBDX (Cavanal Hill Bond Fund) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both funds - APBDX is a Intermediate Core Bond fund managed by Cavanal Hill funds, while PDBC is a Commodities fund actively managed by Invesco. Over the past 10 years, APBDX returned 1.12%/yr vs 8.79%/yr for PDBC. At a correlation of -0.15, they often move in opposite directions. APBDX charges 0.72%/yr vs 0.58%/yr for PDBC.
Performance
APBDX vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, APBDX achieves a 0.30% return, which is significantly lower than PDBC's 36.23% return. Over the past 10 years, APBDX has underperformed PDBC with an annualized return of 1.12%, while PDBC has yielded a comparatively higher 8.79% annualized return.
APBDX
- 1D
- 0.00%
- 1M
- 0.45%
- YTD
- 0.30%
- 6M
- 0.26%
- 1Y
- 4.89%
- 3Y*
- 3.76%
- 5Y*
- -0.13%
- 10Y*
- 1.12%
PDBC
- 1D
- 0.39%
- 1M
- -3.37%
- YTD
- 36.23%
- 6M
- 36.27%
- 1Y
- 45.46%
- 3Y*
- 14.42%
- 5Y*
- 12.39%
- 10Y*
- 8.79%
APBDX vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
APBDX Cavanal Hill Bond Fund | 0.30% | 6.49% | 1.90% | 5.47% | -13.46% | -1.57% | 6.67% | 7.17% | 0.02% | 2.18% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 36.23% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between APBDX and PDBC is -0.36, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2014 | -0.15 |
Over the past year, the inverse relationship between APBDX and PDBC has strengthened: their correlation has moved from -0.15 to -0.36, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
APBDX vs. PDBC — Risk / Return Rank
APBDX
PDBC
APBDX vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cavanal Hill Bond Fund (APBDX) 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.
| APBDX | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.43 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 6.35 | -4.60 |
| Martin ratioReturn relative to average drawdown | 5.11 | 13.39 | -8.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| APBDX | PDBC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 2.46 | -1.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.02 | 0.65 | -0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.50 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 0.23 | +0.78 |
Drawdowns
APBDX vs. PDBC - Drawdown Comparison
The maximum APBDX drawdown since its inception was -18.21%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for APBDX and PDBC.
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Drawdown Indicators
| APBDX | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.21% | -49.52% | +31.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -7.19% | +4.36% |
Max Drawdown (3Y)Largest decline over 3 years | -5.81% | -13.95% | +8.14% |
Max Drawdown (5Y)Largest decline over 5 years | -18.21% | -27.63% | +9.42% |
Max Drawdown (10Y)Largest decline over 10 years | -18.21% | -40.73% | +22.52% |
Current DrawdownCurrent decline from peak | -2.26% | -4.55% | +2.29% |
Average DrawdownAverage peak-to-trough decline | -2.58% | -23.21% | +20.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 3.41% | -2.45% |
Volatility
APBDX vs. PDBC - Volatility Comparison
The current volatility for Cavanal Hill Bond Fund (APBDX) is 1.28%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 6.20%. This indicates that APBDX 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.
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Volatility by Period
| APBDX | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 6.20% | -4.92% |
Volatility (6M)Calculated over the trailing 6-month period | 2.67% | 15.78% | -13.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 18.61% | -14.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.73% | 19.12% | -13.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 17.78% | -13.05% |
APBDX vs. PDBC - Expense Ratio Comparison
APBDX has a 0.72% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Dividends
APBDX vs. PDBC - Dividend Comparison
APBDX's dividend yield for the trailing twelve months is around 3.73%, more than PDBC's 2.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APBDX Cavanal Hill Bond Fund | 3.73% | 3.54% | 3.45% | 2.65% | 2.41% | 1.85% | 1.79% | 2.24% | 2.16% | 1.62% | 1.97% | 1.79% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 2.82% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% | 0.00% |
Frequently Asked Questions
APBDX and PDBC have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (6.20%) compared to APBDX (1.28%). In terms of maximum drawdown, APBDX dropped -18.21% vs PDBC's -49.52%.
PDBC currently has the higher Sharpe Ratio (2.46 vs 1.26), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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