BBLB vs. PDBC
BBLB (JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - BBLB is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while PDBC is a Commodities fund actively managed by Invesco. BBLB is passively managed, while PDBC is actively managed. Over the past 3 years, BBLB returned -0.80%/yr vs 9.24%/yr for PDBC. Their -0.18 correlation means they have often moved in opposite directions in the past. BBLB charges 0.04%/yr vs 0.58%/yr for PDBC.
Performance
BBLB vs. PDBC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BBLB achieves a -2.53% return, which is significantly lower than PDBC's 27.55% return.
BBLB
- 1D
- 0.72%
- 1M
- -2.86%
- 6M
- -2.32%
- YTD
- -2.53%
- 1Y
- -1.51%
- 3Y*
- -0.80%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -2.81%
PDBC
- 1D
- -2.03%
- 1M
- 6.49%
- 6M
- 17.93%
- YTD
- 27.55%
- 1Y
- 33.81%
- 3Y*
- 9.24%
- 5Y*
- 10.79%
- 10Y*
- 8.56%
- ALL TIME*
- 3.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $43.45K | $41.67K | $60.66K | |
| $116.56M | $150.03M | $123.54M |
BBLB vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF | -2.53% | 4.26% | -7.84% | -2.80% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 27.55% | 5.96% | 2.09% | -4.11% |
Correlation
The correlation between BBLB and PDBC is -0.38, 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. | -0.38 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2023 | -0.18 |
The correlation between BBLB and PDBC shifts across timeframes, from -0.38 (1 year) to -0.18 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BBLB vs. PDBC — Risk / Return Rank
BBLB
PDBC
BBLB vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) 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.
| BBLB | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.48 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.29 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 2.05 | -2.25 |
| Martin ratioReturn relative to average drawdown | -0.42 | 6.77 | -7.19 |
Loading charts...
Drawdowns
BBLB vs. PDBC - Drawdown Comparison
The maximum BBLB drawdown since its inception was -21.06%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for BBLB and PDBC.
Loading charts...
Drawdown Indicators
| BBLB | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.06% | -49.52% | +28.46% |
Max Drawdown (1Y)Largest decline over 1 year | -7.76% | -16.55% | +8.79% |
Max Drawdown (3Y)Largest decline over 3 years | -14.67% | -16.55% | +1.88% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.63% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.73% | — |
Current DrawdownCurrent decline from peak | -10.92% | -10.63% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -23.02% | +14.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 5.01% | -1.43% |
Volatility
BBLB vs. PDBC - Volatility Comparison
The current volatility for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) is 2.67%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 7.66%. This indicates that BBLB 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.
Loading charts...
Volatility by Period
| BBLB | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.67% | 7.66% | -4.99% |
Volatility (6M)Calculated over the trailing 6-month period | 6.95% | 16.82% | -9.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.26% | 19.73% | -10.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.62% | 19.29% | -5.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.62% | 17.85% | -4.23% |
BBLB vs. PDBC - Expense Ratio Comparison
BBLB has a 0.04% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
BBLB vs. PDBC - Dividend Comparison
BBLB's dividend yield for the trailing twelve months is around 4.99%, more than PDBC's 3.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF | 4.99% | 5.03% | 5.34% | 2.82% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 3.01% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
BBLB and PDBC have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (7.66%) compared to BBLB (2.67%). In terms of maximum drawdown, BBLB dropped -21.06% vs PDBC's -49.52%.
On 3-year performance, PDBC leads with 9.24% vs -0.80% for BBLB. On fees, BBLB is cheaper at 0.04% per year. On volatility, BBLB has been the lower-risk option at 2.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PDBC has performed better with a 9.24% return vs -0.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBLB is cheaper with a 0.04% expense ratio, compared with 0.58% for PDBC.
BBLB has the higher dividend yield at 4.99%, compared with 3.01% for PDBC.
BBLB is categorized as Government Bonds, while PDBC is Commodities. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.04% for BBLB and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.72 vs -0.16), 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.
Find the right allocation for BBLB and PDBC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer