ARCC vs. PDBC
ARCC (Ares Capital Corporation) is a stock, while PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) is Commodities fund actively managed by Invesco. Over the past 10 years, ARCC returned 12.32%/yr vs 8.78%/yr for PDBC. Their 0.18 correlation means their historical movements had little consistent relationship.
Performance
ARCC vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, ARCC achieves a -0.17% return, which is significantly lower than PDBC's 30.19% return. Over the past 10 years, ARCC has outperformed PDBC with an annualized return of 12.32%, while PDBC has yielded a comparatively lower 8.78% annualized return.
ARCC
- 1D
- 2.19%
- 1M
- 2.35%
- 6M
- 3.47%
- YTD
- -0.17%
- 1Y
- -5.64%
- 3Y*
- 9.14%
- 5Y*
- 9.13%
- 10Y*
- 12.32%
- ALL TIME*
- 12.08%
PDBC
- 1D
- -1.77%
- 1M
- 8.70%
- 6M
- 23.48%
- YTD
- 30.19%
- 1Y
- 36.16%
- 3Y*
- 9.99%
- 5Y*
- 11.53%
- 10Y*
- 8.78%
- ALL TIME*
- 3.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $82.65M | $85.21M | $94.25M | |
| $116.66M | $151.96M | $123.92M |
ARCC vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARCC Ares Capital Corporation | -0.17% | 1.07% | 19.78% | 20.03% | -3.84% | 36.14% | 0.86% | 31.30% | 8.81% | 4.50% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 30.19% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between ARCC and PDBC is -0.17, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.16 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.18 |
The correlation between ARCC and PDBC shifts across timeframes, from -0.17 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ARCC vs. PDBC — Risk / Return Rank
ARCC
PDBC
ARCC vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ares Capital Corporation (ARCC) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ARCC | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.15 | ||
| Sortino ratioReturn per unit of downside risk | -2.76 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.31 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 2.20 | -2.52 |
| Martin ratioReturn relative to average drawdown | -0.59 | 7.30 | -7.89 |
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Drawdowns
ARCC vs. PDBC - Drawdown Comparison
The maximum ARCC drawdown since its inception was -79.36%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for ARCC and PDBC.
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Drawdown Indicators
| ARCC | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.36% | -49.52% | -29.84% |
Max Drawdown (1Y)Largest decline over 1 year | -17.35% | -16.55% | -0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -19.35% | -16.55% | -2.80% |
Max Drawdown (5Y)Largest decline over 5 years | -21.76% | -27.63% | +5.87% |
Max Drawdown (10Y)Largest decline over 10 years | -56.77% | -40.73% | -16.04% |
Current DrawdownCurrent decline from peak | -9.13% | -8.78% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -9.12% | -23.03% | +13.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.52% | 4.97% | +4.55% |
Volatility
ARCC vs. PDBC - Volatility Comparison
The current volatility for Ares Capital Corporation (ARCC) is 4.82%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 7.36%. This indicates that ARCC 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
| ARCC | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.82% | 7.36% | -2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 14.88% | 17.16% | -2.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.00% | 19.65% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.00% | 19.28% | +0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.59% | 17.84% | +7.75% |
Dividends
ARCC vs. PDBC - Dividend Comparison
ARCC's dividend yield for the trailing twelve months is around 10.02%, more than PDBC's 2.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARCC Ares Capital Corporation | 10.02% | 9.49% | 8.77% | 9.59% | 10.12% | 7.65% | 9.47% | 9.01% | 9.88% | 9.67% | 9.22% | 11.02% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 2.95% | 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
ARCC and PDBC have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (7.36%) compared to ARCC (4.82%). In terms of maximum drawdown, ARCC dropped -79.36% vs PDBC's -49.52%.
PDBC currently has the higher Sharpe Ratio (1.85 vs -0.30), 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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