BDVL vs. PDBC
BDVL (iShares Disciplined Volatility Equity Active ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - BDVL is a Global Equities fund tracking the MSCI ACWI Minimum Volatility Index, while PDBC is a Commodities fund actively managed by Invesco. BDVL is passively managed, while PDBC is actively managed. Their -0.18 correlation means they have often moved in opposite directions in the past. BDVL charges 0.40%/yr vs 0.58%/yr for PDBC.
Performance
BDVL vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, BDVL achieves a 8.59% return, which is significantly lower than PDBC's 28.15% return.
BDVL
- 1D
- -0.01%
- 1M
- 1.89%
- 6M
- 6.86%
- YTD
- 8.59%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
PDBC
- 1D
- 0.47%
- 1M
- 5.47%
- 6M
- 18.25%
- YTD
- 28.15%
- 1Y
- 35.58%
- 3Y*
- 9.41%
- 5Y*
- 11.02%
- 10Y*
- 8.61%
- ALL TIME*
- 3.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.11M | $6.04M | $7.27M | |
| $121.86M | $152.61M | $122.20M |
BDVL vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BDVL iShares Disciplined Volatility Equity Active ETF | 8.59% | 2.20% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 28.15% | 3.41% |
Correlation
The correlation between BDVL and PDBC is -0.18, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 15, 2025 | -0.18 |
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Return for Risk
BDVL vs. PDBC — Risk / Return Rank
BDVL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PDBC
BDVL vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Disciplined Volatility Equity Active ETF (BDVL) 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.
| BDVL | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.31 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.16 | — |
| Martin ratioReturn relative to average drawdown | — | 7.07 | — |
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Drawdowns
BDVL vs. PDBC - Drawdown Comparison
The maximum BDVL drawdown since its inception was -7.71%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for BDVL and PDBC.
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Drawdown Indicators
| BDVL | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.71% | -49.52% | +41.81% |
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 DrawdownCurrent decline from peak | -0.01% | -10.21% | +10.20% |
Average DrawdownAverage peak-to-trough decline | -1.11% | -23.02% | +21.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.05% | — |
Volatility
BDVL vs. PDBC - Volatility Comparison
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Volatility by Period
| BDVL | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.58% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 16.65% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.48% | 19.73% | -10.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.48% | 19.28% | -9.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.48% | 17.85% | -8.37% |
BDVL vs. PDBC - Expense Ratio Comparison
BDVL has a 0.40% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
BDVL vs. PDBC - Dividend Comparison
BDVL's dividend yield for the trailing twelve months is around 3.43%, more than PDBC's 3.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BDVL iShares Disciplined Volatility Equity Active ETF | 3.43% | 2.79% | 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 | 3.00% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
BDVL and PDBC have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BDVL is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BDVL is cheaper with a 0.40% expense ratio, compared with 0.58% for PDBC.
BDVL has the higher dividend yield at 3.43%, compared with 3.00% for PDBC.
BDVL is categorized as Global Equities, while PDBC is Commodities. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.40% for BDVL and 0.58% for PDBC.
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