CCRV vs. PDBA

Last updated Aug 4, 2026

CCRV (iShares Commodity Curve Carry Strategy ETF) and PDBA (Invesco Agriculture Commodity Strategy No K-1 ETF) are both exchange-traded funds - CCRV is a Commodities fund tracking the CCRV-US - ICE BofA Commodity Enhanced Carry Index, while PDBA is a Agricultural Commodities fund actively managed by Invesco. CCRV is passively managed, while PDBA is actively managed. Their 0.26 correlation means their historical movements had little consistent relationship. CCRV charges 0.40%/yr vs 0.59%/yr for PDBA.

Performance

CCRV vs. PDBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Commodity Curve Carry Strategy ETF (CCRV) and Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CCRV

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

PDBA

• 1D: 0.98%
• 1M: 3.92%
• 6M: 8.61%
• YTD: 9.09%
• 1Y: 12.08%
• 3Y*: 13.27%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.09%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PDBA Invesco Agriculture Commodity Strategy No K-1 ETF	$2.82M	$4.19M	$12.00M

CCRV vs. PDBA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	5.47%	-2.24%
PDBA Invesco Agriculture Commodity Strategy No K-1 ETF	9.09%	-0.76%	34.16%	7.83%	-3.34%

Correlation

The correlation between CCRV and PDBA is -0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.07
Correlation (3Y) Balances recent behavior with more history.	0.18
Correlation (All Time) Calculated using the full available price history since Aug 24, 2022	0.26

The correlation between CCRV and PDBA shifts across timeframes, from -0.07 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CCRV vs. PDBA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CCRV

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

PDBA

PDBA Risk / Return Rank: 39
PDBA Sharpe Ratio Rank: 42
PDBA Sortino Ratio Rank: 42
PDBA Omega Ratio Rank: 39
PDBA Calmar Ratio Rank: 39
PDBA Martin Ratio Rank: 31

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CCRV vs. PDBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Commodity Curve Carry Strategy ETF (CCRV) and Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA). 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.

	CCRV	PDBA	Difference
Sharpe ratio: Return per unit of total volatility	—	1.09	—
Sortino ratio: Return per unit of downside risk	—	1.62	—
Omega ratio: Gain probability vs. loss probability	—	1.20	—
Calmar ratio: Return relative to maximum drawdown	—	1.41	—
Martin ratio: Return relative to average drawdown	—	2.87	—

Drawdowns

Drawdown Indicators

	CCRV	PDBA	Difference
Max Drawdown Largest peak-to-trough decline	—	-12.45%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.59%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.45%	—
Current Drawdown Current decline from peak	—	-3.18%	—
Average Drawdown Average peak-to-trough decline	—	-3.99%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.23%	—

Volatility

Volatility by Period

	CCRV	PDBA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.06%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	11.17%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	13.33%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	13.33%	—

CCRV vs. PDBA - Expense Ratio Comparison

CCRV has a 0.40% expense ratio, which is lower than PDBA's 0.59% expense ratio.

Dividends

CCRV vs. PDBA - Dividend Comparison

CCRV has not paid dividends to shareholders, while PDBA's dividend yield for the trailing twelve months is around 3.05%.

Position	TTM	2025	2024	2023	2022	2021
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%
PDBA Invesco Agriculture Commodity Strategy No K-1 ETF	3.05%	3.32%	13.01%	6.82%	0.74%	0.00%

Frequently Asked Questions

Can I hold both CCRV and PDBA in my portfolio?

CCRV and PDBA have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CCRV or PDBA?

On fees, CCRV 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, CCRV or PDBA?

CCRV is cheaper with a 0.40% expense ratio, compared with 0.59% for PDBA.

Which ETF pays a higher dividend yield, CCRV or PDBA?

PDBA has the higher dividend yield at 3.05%, compared with 0.00% for CCRV.

What is the main difference between CCRV and PDBA?

CCRV is categorized as Commodities, while PDBA is Agricultural Commodities. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.40% for CCRV and 0.59% for PDBA.