CGIB vs. PDBC
CGIB (Capital Group International Bond ETF (USD-Hedged)) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - CGIB is a Global Bonds fund actively managed by Capital Group, while PDBC is a Commodities fund actively managed by Invesco. Both are actively managed. Over the past year, CGIB returned 1.57% vs 38.61% for PDBC. Their -0.19 correlation means they have often moved in opposite directions in the past. CGIB charges 0.45%/yr vs 0.58%/yr for PDBC.
Performance
CGIB vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, CGIB achieves a 0.36% return, which is significantly lower than PDBC's 32.53% return.
CGIB
- 1D
- -0.22%
- 1M
- -0.77%
- 6M
- -0.21%
- YTD
- 0.36%
- 1Y
- 1.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.59%
PDBC
- 1D
- 0.34%
- 1M
- 10.65%
- 6M
- 20.94%
- YTD
- 32.53%
- 1Y
- 38.61%
- 3Y*
- 10.51%
- 5Y*
- 11.22%
- 10Y*
- 9.21%
- ALL TIME*
- 3.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.42M | $3.64M | $2.75M | |
| $92.97M | $139.65M | $120.69M |
CGIB vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CGIB Capital Group International Bond ETF (USD-Hedged) | 0.36% | 4.72% | 2.44% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 32.53% | 5.96% | -3.15% |
Correlation
The correlation between CGIB and PDBC is -0.27, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.27 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2024 | -0.19 |
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Return for Risk
CGIB vs. PDBC — Risk / Return Rank
CGIB
PDBC
CGIB vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Capital Group International Bond ETF (USD-Hedged) (CGIB) 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.
| CGIB | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.32 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.69 | 2.21 | -1.52 |
| Martin ratioReturn relative to average drawdown | 1.71 | 7.40 | -5.69 |
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Drawdowns
CGIB vs. PDBC - Drawdown Comparison
The maximum CGIB drawdown since its inception was -2.68%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for CGIB and PDBC.
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Drawdown Indicators
| CGIB | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.68% | -49.52% | +46.84% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -16.55% | +13.87% |
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 | -1.24% | -7.14% | +5.90% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -23.03% | +22.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 4.98% | -3.90% |
Volatility
CGIB vs. PDBC - Volatility Comparison
The current volatility for Capital Group International Bond ETF (USD-Hedged) (CGIB) is 0.97%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 7.00%. This indicates that CGIB 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.
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Volatility by Period
| CGIB | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 7.00% | -6.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.05% | 17.41% | -14.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 19.62% | -15.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.74% | 19.27% | -15.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.74% | 17.83% | -14.09% |
CGIB vs. PDBC - Expense Ratio Comparison
CGIB has a 0.45% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
CGIB vs. PDBC - Dividend Comparison
CGIB's dividend yield for the trailing twelve months is around 1.45%, less than PDBC's 2.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CGIB Capital Group International Bond ETF (USD-Hedged) | 1.45% | 4.26% | 1.65% | 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 | 2.90% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
CGIB and PDBC have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (7.00%) compared to CGIB (0.97%). In terms of maximum drawdown, CGIB dropped -2.68% vs PDBC's -49.52%.
On 1-year performance, PDBC leads with 38.61% vs 1.57% for CGIB. On fees, CGIB is cheaper at 0.45% per year. On volatility, CGIB has been the lower-risk option at 0.97%. 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 38.61% return vs 1.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CGIB is cheaper with a 0.45% expense ratio, compared with 0.58% for PDBC.
PDBC has the higher dividend yield at 2.90%, compared with 1.45% for CGIB.
CGIB is categorized as Global Bonds, while PDBC is Commodities. They also come from different issuers: Capital Group and Invesco. Their fees differ too: 0.45% for CGIB and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.87 vs 0.48), 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.
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