COKE vs. PDBC

Last updated Aug 4, 2026

COKE (Coca-Cola Consolidated, Inc.) is a stock, while PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) is Commodities fund actively managed by Invesco. Over the past 10 years, COKE returned 29.83%/yr vs 8.78%/yr for PDBC. Their 0.04 correlation means their historical movements had little consistent relationship.

Performance

COKE vs. PDBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Coca-Cola Consolidated, Inc. (COKE) and Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COKE achieves a 18.43% return, which is significantly lower than PDBC's 30.19% return. Over the past 10 years, COKE has outperformed PDBC with an annualized return of 29.83%, while PDBC has yielded a comparatively lower 8.78% annualized return.

COKE

• 1D: -3.80%
• 1M: -7.47%
• 6M: 17.78%
• YTD: 18.43%
• 1Y: 61.83%
• 3Y*: 39.14%
• 5Y*: 37.45%
• 10Y*: 29.83%
• ALL TIME*: 14.87%

PDBC

• 1D: -1.77%
• 1M: 8.70%
• 6M: 23.48%
• YTD: 30.19%
• 1Y: 36.16%
• 3Y*: 9.99%
• 5Y*: 11.53%
• 10Y*: 8.78%
• ALL TIME*: 3.73%

*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)
COKE Coca-Cola Consolidated, Inc.	$81.28M	$95.65M	$108.10M
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	$116.66M	$151.96M	$123.92M

COKE vs. PDBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COKE Coca-Cola Consolidated, Inc.	18.43%	22.63%	38.75%	82.92%	-17.09%	133.24%	-5.87%	60.74%	-17.10%	20.94%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	30.19%	5.96%	2.09%	-6.25%	19.23%	41.72%	-7.84%	11.44%	-12.78%	5.06%

Correlation

The correlation between COKE and PDBC is -0.14, 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.	-0.14
Correlation (3Y) Balances recent behavior with more history.	-0.09
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.00
Correlation (10Y) Provides a long-term view across more market conditions.	0.04
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014	0.04

The correlation between COKE and PDBC shifts across timeframes, from -0.14 (1 year) to 0.04 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

COKE vs. PDBC — Risk / Return Rank

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

COKE

COKE Risk / Return Rank: 84
COKE Sharpe Ratio Rank: 89
COKE Sortino Ratio Rank: 82
COKE Omega Ratio Rank: 85
COKE Calmar Ratio Rank: 83
COKE Martin Ratio Rank: 83

PDBC

PDBC Risk / Return Rank: 70
PDBC Sharpe Ratio Rank: 79
PDBC Sortino Ratio Rank: 75
PDBC Omega Ratio Rank: 74
PDBC Calmar Ratio Rank: 61
PDBC Martin Ratio Rank: 60

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.

COKE vs. PDBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Coca-Cola Consolidated, Inc. (COKE) 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.

	COKE	PDBC	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.85	-0.11
Sortino ratio: Return per unit of downside risk	2.12	2.47	-0.35
Omega ratio: Gain probability vs. loss probability	1.31	1.31	0.00
Calmar ratio: Return relative to maximum drawdown	2.53	2.20	+0.34
Martin ratio: Return relative to average drawdown	6.22	7.30	-1.08

COKE vs. PDBC - Sharpe Ratio Comparison

The current COKE Sharpe Ratio is 1.74, which is comparable to the PDBC Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of COKE and PDBC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

COKE vs. PDBC - Drawdown Comparison

The maximum COKE drawdown since its inception was -54.32%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for COKE and PDBC.

Drawdown Indicators

	COKE	PDBC	Difference
Max Drawdown Largest peak-to-trough decline	-54.32%	-49.52%	-4.80%
Max Drawdown (1Y) Largest decline over 1 year	-24.56%	-16.55%	-8.01%
Max Drawdown (3Y) Largest decline over 3 years	-27.38%	-16.55%	-10.83%
Max Drawdown (5Y) Largest decline over 5 years	-35.52%	-27.63%	-7.89%
Max Drawdown (10Y) Largest decline over 10 years	-51.71%	-40.73%	-10.98%
Current Drawdown Current decline from peak	-16.44%	-8.78%	-7.66%
Average Drawdown Average peak-to-trough decline	-18.86%	-23.03%	+4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.97%	4.97%	+5.00%

Volatility

COKE vs. PDBC - Volatility Comparison

Coca-Cola Consolidated, Inc. (COKE) has a higher volatility of 11.57% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 7.36%. This indicates that COKE's price experiences larger fluctuations and is considered to be riskier than PDBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COKE	PDBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.57%	7.36%	+4.21%
Volatility (6M) Calculated over the trailing 6-month period	31.83%	17.16%	+14.67%
Volatility (1Y) Calculated over the trailing 1-year period	35.70%	19.65%	+16.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.80%	19.28%	+18.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.30%	17.84%	+19.46%

Dividends

COKE vs. PDBC - Dividend Comparison

COKE's dividend yield for the trailing twelve months is around 0.55%, less than PDBC's 2.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COKE Coca-Cola Consolidated, Inc.	0.55%	0.65%	1.59%	0.54%	0.20%	0.16%	0.38%	0.35%	0.56%	0.46%	0.56%	0.55%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	2.95%	3.84%	4.42%	4.21%	13.05%	50.83%	0.01%	1.40%	1.00%	3.83%	6.51%	0.00%

Frequently Asked Questions

Can I hold both COKE and PDBC in my portfolio?

COKE and PDBC have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COKE or PDBC?

COKE has higher volatility (11.57%) compared to PDBC (7.36%). In terms of maximum drawdown, COKE dropped -54.32% vs PDBC's -49.52%.

Which has better risk-adjusted returns?

PDBC currently has the higher Sharpe Ratio (1.85 vs 1.74), 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.