BTOT vs. PDBC
BTOT (iShares Total USD Fixed Income Market ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - BTOT is a Total Bond Market fund tracking the Bloomberg US Total Fixed Income Market Index, while PDBC is a Commodities fund actively managed by Invesco. BTOT is passively managed, while PDBC is actively managed. At a correlation of -0.45, they often move in opposite directions. BTOT charges 0.09%/yr vs 0.58%/yr for PDBC.
Performance
BTOT vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, BTOT achieves a 0.34% return, which is significantly lower than PDBC's 28.91% return.
BTOT
- 1D
- 0.23%
- 1M
- -0.35%
- 6M
- 0.12%
- YTD
- 0.34%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PDBC
- 1D
- 1.07%
- 1M
- 0.12%
- 6M
- 23.23%
- YTD
- 28.91%
- 1Y
- 33.20%
- 3Y*
- 10.81%
- 5Y*
- 11.15%
- 10Y*
- 8.25%
BTOT vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BTOT iShares Total USD Fixed Income Market ETF | 0.34% | 0.12% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 28.91% | -0.12% |
Correlation
The correlation between BTOT and PDBC is -0.45, 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 11, 2025 | -0.45 |
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Return for Risk
BTOT vs. PDBC — Risk / Return Rank
BTOT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PDBC
BTOT vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Total USD Fixed Income Market ETF (BTOT) 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.
| BTOT | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.02 | — |
| Martin ratioReturn relative to average drawdown | — | 7.05 | — |
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Drawdowns
BTOT vs. PDBC - Drawdown Comparison
The maximum BTOT drawdown since its inception was -2.36%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for BTOT and PDBC.
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Drawdown Indicators
| BTOT | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.36% | -49.52% | +47.16% |
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 | -1.23% | -9.68% | +8.45% |
Average DrawdownAverage peak-to-trough decline | -0.80% | -23.10% | +22.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.72% | — |
Volatility
BTOT vs. PDBC - Volatility Comparison
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Volatility by Period
| BTOT | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.27% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 16.79% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.67% | 18.88% | -15.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.67% | 19.24% | -15.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.67% | 17.77% | -14.10% |
BTOT vs. PDBC - Expense Ratio Comparison
BTOT has a 0.09% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
BTOT vs. PDBC - Dividend Comparison
BTOT's dividend yield for the trailing twelve months is around 2.50%, less than PDBC's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BTOT iShares Total USD Fixed Income Market ETF | 2.50% | 0.22% | 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 | 2.98% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
BTOT and PDBC have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTOT is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTOT is cheaper with a 0.09% expense ratio, compared with 0.58% for PDBC.
PDBC has the higher dividend yield at 2.98%, compared with 2.50% for BTOT.
BTOT is categorized as Total Bond Market, while PDBC is Commodities. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.09% for BTOT and 0.58% for PDBC.
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