ARDC vs. PDBC
ARDC (Ares Dynamic Credit Allocation Fund, Inc.) is a stock, while PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) is Commodities fund actively managed by Invesco. Both are actively managed. Over the past 10 years, ARDC returned 7.88%/yr vs 8.78%/yr for PDBC. Their 0.14 correlation means their historical movements had little consistent relationship. ARDC charges 5.26%/yr vs 0.58%/yr for PDBC.
Performance
ARDC vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, ARDC achieves a -0.41% return, which is significantly lower than PDBC's 30.19% return. Over the past 10 years, ARDC has underperformed PDBC with an annualized return of 7.88%, while PDBC has yielded a comparatively higher 8.78% annualized return.
ARDC
- 1D
- 0.57%
- 1M
- -1.62%
- 6M
- -2.19%
- YTD
- -0.41%
- 1Y
- -3.58%
- 3Y*
- 9.83%
- 5Y*
- 4.75%
- 10Y*
- 7.88%
- ALL TIME*
- 5.64%
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) |
|---|---|---|---|
| $1.02M | $1.56M | $1.49M | |
| $116.66M | $151.96M | $123.92M |
ARDC vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARDC Ares Dynamic Credit Allocation Fund, Inc. | -0.41% | -3.10% | 21.05% | 32.35% | -22.21% | 23.12% | 2.56% | 21.26% | -8.80% | 17.63% |
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 ARDC and PDBC is -0.14, 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. | -0.14 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.05 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.14 |
The correlation between ARDC and PDBC shifts across timeframes, from -0.14 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ARDC vs. PDBC — Risk / Return Rank
ARDC
PDBC
ARDC vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ares Dynamic Credit Allocation Fund, Inc. (ARDC) 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.
| ARDC | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.93 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.31 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 2.20 | -2.43 |
| Martin ratioReturn relative to average drawdown | -0.45 | 7.30 | -7.75 |
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Drawdowns
ARDC vs. PDBC - Drawdown Comparison
The maximum ARDC drawdown since its inception was -45.40%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for ARDC and PDBC.
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Drawdown Indicators
| ARDC | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.40% | -49.52% | +4.12% |
Max Drawdown (1Y)Largest decline over 1 year | -15.57% | -16.55% | +0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -19.78% | -16.55% | -3.23% |
Max Drawdown (5Y)Largest decline over 5 years | -26.48% | -27.63% | +1.15% |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | -40.73% | -4.67% |
Current DrawdownCurrent decline from peak | -7.99% | -8.78% | +0.79% |
Average DrawdownAverage peak-to-trough decline | -6.65% | -23.03% | +16.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.03% | 4.97% | +3.06% |
Volatility
ARDC vs. PDBC - Volatility Comparison
The current volatility for Ares Dynamic Credit Allocation Fund, Inc. (ARDC) is 2.54%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 7.36%. This indicates that ARDC 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
| ARDC | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 7.36% | -4.82% |
Volatility (6M)Calculated over the trailing 6-month period | 7.52% | 17.16% | -9.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.61% | 19.65% | -10.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.79% | 19.28% | -5.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.86% | 17.84% | -0.98% |
ARDC vs. PDBC - Expense Ratio Comparison
ARDC has a 5.26% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Dividends
ARDC vs. PDBC - Dividend Comparison
ARDC's dividend yield for the trailing twelve months is around 10.84%, more than PDBC's 2.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARDC Ares Dynamic Credit Allocation Fund, Inc. | 10.84% | 10.19% | 9.33% | 9.85% | 10.31% | 7.16% | 8.40% | 8.40% | 9.35% | 7.58% | 8.45% | 10.51% |
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
ARDC and PDBC have a correlation of -0.14, 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 ARDC (2.54%). In terms of maximum drawdown, ARDC dropped -45.40% vs PDBC's -49.52%.
PDBC currently has the higher Sharpe Ratio (1.85 vs -0.37), 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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