BCPL vs. PDBC

Last updated Jun 4, 2026

BCPL (BNY Mellon Core Plus ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - BCPL is a Intermediate Core-Plus Bond fund actively managed by BNY Mellon, while PDBC is a Commodities fund actively managed by Invesco. Both are actively managed. At a correlation of -0.50, they often move in opposite directions. BCPL charges 0.40%/yr vs 0.58%/yr for PDBC.

Performance

BCPL vs. PDBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Core Plus ETF (BCPL) 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

BCPL

• 1D: -0.08%
• 1M: 0.38%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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%

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

BCPL vs. PDBC - Yearly Performance Comparison

	2026 (YTD)
BCPL BNY Mellon Core Plus ETF	0.55%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	31.18%

Correlation

The correlation between BCPL and PDBC is -0.50, 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 Jan 13, 2026	-0.50

Return for Risk

BCPL vs. PDBC — Risk / Return Rank

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

PDBC

PDBC Risk / Return Rank: 74
PDBC Sharpe Ratio Rank: 73
PDBC Sortino Ratio Rank: 67
PDBC Omega Ratio Rank: 70
PDBC Calmar Ratio Rank: 92
PDBC Martin Ratio Rank: 70

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.

BCPL vs. PDBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Core Plus ETF (BCPL) 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.

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

Sharpe Ratios by Period

	BCPL	PDBC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.46	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.65	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.23	+0.12

Drawdowns

BCPL vs. PDBC - Drawdown Comparison

The maximum BCPL drawdown since its inception was -2.95%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for BCPL and PDBC.

Drawdown Indicators

	BCPL	PDBC	Difference
Max Drawdown Largest peak-to-trough decline	-2.95%	-49.52%	+46.57%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.19%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.95%	—
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	-1.12%	-4.55%	+3.43%
Average Drawdown Average peak-to-trough decline	-1.05%	-23.21%	+22.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.41%	—

Volatility

Volatility by Period

	BCPL	PDBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.78%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.04%	18.61%	-14.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.04%	19.12%	-15.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.04%	17.78%	-13.74%

BCPL vs. PDBC - Expense Ratio Comparison

BCPL has a 0.40% expense ratio, which is lower than PDBC's 0.58% expense ratio.

Dividends

BCPL vs. PDBC - Dividend Comparison

BCPL's dividend yield for the trailing twelve months is around 1.57%, less than PDBC's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BCPL BNY Mellon Core Plus ETF	1.57%	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	2.82%	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 BCPL and PDBC in my portfolio?

BCPL and PDBC have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BCPL or PDBC?

On fees, BCPL is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BCPL or PDBC?

BCPL is cheaper with a 0.40% expense ratio, compared with 0.58% for PDBC.

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

PDBC has the higher dividend yield at 2.82%, compared with 1.57% for BCPL.

What is the main difference between BCPL and PDBC?

BCPL is categorized as Intermediate Core-Plus Bond, while PDBC is Commodities. They also come from different issuers: BNY Mellon and Invesco. Their fees differ too: 0.40% for BCPL and 0.58% for PDBC.