BRTR vs. PDBC
BRTR (Blackrock Total Return ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - BRTR is a Intermediate Core-Plus Bond fund actively managed by BlackRock, while PDBC is a Commodities fund actively managed by Invesco. Both are actively managed. Over the past year, BRTR returned 4.52% vs 27.16% for PDBC. At a correlation of -0.20, they often move in opposite directions. BRTR charges 0.38%/yr vs 0.58%/yr for PDBC.
Performance
BRTR vs. PDBC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BRTR achieves a 0.32% return, which is significantly lower than PDBC's 24.08% return.
BRTR
- 1D
- -0.09%
- 1M
- -0.30%
- 6M
- -0.04%
- YTD
- 0.32%
- 1Y
- 4.52%
- 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%
BRTR vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BRTR Blackrock Total Return ETF | 0.32% | 8.11% | 1.29% | 0.68% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 24.08% | 5.96% | 2.09% | 1.22% |
Correlation
The correlation between BRTR and PDBC is -0.35, 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 (1Y) Calculated over the trailing 1-year period | -0.35 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2023 | -0.20 |
The correlation between BRTR and PDBC shifts across timeframes, from -0.35 (1 year) to -0.20 (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
BRTR vs. PDBC — Risk / Return Rank
BRTR
PDBC
BRTR vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackrock Total Return ETF (BRTR) 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.
| BRTR | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.27 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 1.75 | -0.45 |
| Martin ratioReturn relative to average drawdown | 3.65 | 6.25 | -2.59 |
Loading charts...
Drawdowns
BRTR vs. PDBC - Drawdown Comparison
The maximum BRTR drawdown since its inception was -5.07%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for BRTR and PDBC.
Loading charts...
Drawdown Indicators
| BRTR | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.07% | -49.52% | +44.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -16.55% | +13.29% |
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 | -1.76% | -13.06% | +11.30% |
Average DrawdownAverage peak-to-trough decline | -1.36% | -23.11% | +21.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 4.64% | -3.48% |
Volatility
BRTR vs. PDBC - Volatility Comparison
The current volatility for Blackrock Total Return ETF (BRTR) is 1.10%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 5.48%. This indicates that BRTR 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
| BRTR | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 5.48% | -4.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.91% | 16.59% | -13.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.67% | 18.72% | -15.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.66% | 19.19% | -14.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.66% | 17.75% | -13.09% |
BRTR vs. PDBC - Expense Ratio Comparison
BRTR has a 0.38% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
BRTR vs. PDBC - Dividend Comparison
BRTR's dividend yield for the trailing twelve months is around 4.72%, more than PDBC's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BRTR Blackrock Total Return ETF | 4.72% | 4.86% | 5.58% | 0.22% | 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
BRTR and PDBC have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (5.48%) compared to BRTR (1.10%). In terms of maximum drawdown, BRTR dropped -5.07% vs PDBC's -49.52%.
On 1-year performance, PDBC leads with 27.16% vs 4.52% for BRTR. On fees, BRTR is cheaper at 0.38% per year. On volatility, BRTR has been the lower-risk option at 1.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PDBC has performed better with a 27.16% return vs 4.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BRTR is cheaper with a 0.38% expense ratio, compared with 0.58% for PDBC.
BRTR has the higher dividend yield at 4.72%, compared with 3.09% for PDBC.
BRTR is categorized as Intermediate Core-Plus Bond, while PDBC is Commodities. They also come from different issuers: BlackRock and Invesco. Their fees differ too: 0.38% for BRTR and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.55 vs 1.16), 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 BRTR 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