BCFN vs. PDBC

Last updated Jul 12, 2026

BCFN (Baron Financials ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - BCFN is a Financials Equities fund tracking the Actively Managed, while PDBC is a Commodities fund actively managed by Invesco. BCFN is passively managed, while PDBC is actively managed. At a correlation of -0.14, they often move in opposite directions. BCFN charges 0.80%/yr vs 0.58%/yr for PDBC.

Performance

BCFN vs. PDBC - Performance Comparison

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

Returns By Period

In the year-to-date period, BCFN achieves a -9.94% return, which is significantly lower than PDBC's 24.08% return.

BCFN

• 1D: 0.35%
• 1M: 6.19%
• 6M: -11.14%
• YTD: -9.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PDBC

• 1D: 0.12%
• 1M: -3.63%
• 6M: 21.24%
• YTD: 24.08%
• 1Y: 27.16%
• 3Y*: 9.96%
• 5Y*: 10.22%
• 10Y*: 7.69%

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

BCFN vs. PDBC - Yearly Performance Comparison

	2026 (YTD)	2025
BCFN Baron Financials ETF	-9.94%	-0.45%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	24.08%	0.98%

Correlation

The correlation between BCFN and PDBC is -0.14, 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 (All Time) Calculated using the full available price history since Dec 15, 2025	-0.14

Return for Risk

BCFN vs. PDBC — Risk / Return Rank

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

BCFN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PDBC

PDBC Risk / Return Rank: 51
PDBC Sharpe Ratio Rank: 57
PDBC Sortino Ratio Rank: 54
PDBC Omega Ratio Rank: 53
PDBC Calmar Ratio Rank: 43
PDBC Martin Ratio Rank: 47

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.

BCFN vs. PDBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron Financials ETF (BCFN) 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.

	BCFN	PDBC	Difference
Sharpe ratio: Return per unit of total volatility	—	1.55	—
Sortino ratio: Return per unit of downside risk	—	2.13	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	1.75	—
Martin ratio: Return relative to average drawdown	—	6.25	—

Drawdowns

BCFN vs. PDBC - Drawdown Comparison

The maximum BCFN drawdown since its inception was -20.95%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for BCFN and PDBC.

Drawdown Indicators

	BCFN	PDBC	Difference
Max Drawdown Largest peak-to-trough decline	-20.95%	-49.52%	+28.57%
Max Drawdown (1Y) Largest decline over 1 year	—	-16.55%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.55%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.63%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.73%	—
Current Drawdown Current decline from peak	-12.18%	-13.06%	+0.88%
Average Drawdown Average peak-to-trough decline	-12.76%	-23.11%	+10.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.64%	—

Volatility

Volatility by Period

	BCFN	PDBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.59%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.27%	18.72%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.27%	19.19%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.27%	17.75%	+1.52%

BCFN vs. PDBC - Expense Ratio Comparison

BCFN has a 0.80% expense ratio, which is higher than PDBC's 0.58% expense ratio.

Dividends

BCFN vs. PDBC - Dividend Comparison

BCFN has not paid dividends to shareholders, while PDBC's dividend yield for the trailing twelve months is around 3.09%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BCFN Baron Financials ETF	0.00%	0.00%	0.00%	0.00%	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	3.09%	3.84%	4.42%	4.21%	13.05%	50.83%	0.01%	1.40%	1.00%	3.83%	6.51%

Frequently Asked Questions

Can I hold both BCFN and PDBC in my portfolio?

BCFN 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.

Which ETF is better, BCFN or PDBC?

On fees, PDBC is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BCFN or PDBC?

PDBC is cheaper with a 0.58% expense ratio, compared with 0.80% for BCFN.

Which ETF pays a higher dividend yield, BCFN or PDBC?

PDBC has the higher dividend yield at 3.09%, compared with 0.00% for BCFN.

What is the main difference between BCFN and PDBC?

BCFN is categorized as Financials Equities, while PDBC is Commodities. They also come from different issuers: Baron Capital and Invesco. Their fees differ too: 0.80% for BCFN and 0.58% for PDBC.