COMT vs. PDBC
COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both Commodities funds. COMT is passively managed, while PDBC is actively managed. Over the past 10 years, COMT returned 9.00%/yr vs 9.21%/yr for PDBC. Their correlation of 0.90 means they have usually moved in the same direction. COMT charges 0.48%/yr vs 0.58%/yr for PDBC.
Performance
COMT vs. PDBC - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with COMT having a 31.11% return and PDBC slightly higher at 32.53%. Both investments have delivered pretty close results over the past 10 years, with COMT having a 9.00% annualized return and PDBC not far ahead at 9.21%.
COMT
- 1D
- -0.06%
- 1M
- 8.11%
- 6M
- 19.02%
- YTD
- 31.11%
- 1Y
- 33.76%
- 3Y*
- 10.95%
- 5Y*
- 11.49%
- 10Y*
- 9.00%
- ALL TIME*
- 3.41%
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) |
|---|---|---|---|
| $7.08M | $10.46M | $14.41M | |
| $92.97M | $139.65M | $120.69M |
COMT vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 31.11% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 32.53% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between COMT and PDBC is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.97 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.90 |
The correlation between COMT and PDBC has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.
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Return for Risk
COMT vs. PDBC — Risk / Return Rank
COMT
PDBC
COMT vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) 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.
| COMT | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.32 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.21 | -0.39 |
| Martin ratioReturn relative to average drawdown | 5.69 | 7.40 | -1.70 |
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Drawdowns
COMT vs. PDBC - Drawdown Comparison
The maximum COMT drawdown since its inception was -51.89%, roughly equal to the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for COMT and PDBC.
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Drawdown Indicators
| COMT | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.89% | -49.52% | -2.37% |
Max Drawdown (1Y)Largest decline over 1 year | -17.57% | -16.55% | -1.02% |
Max Drawdown (3Y)Largest decline over 3 years | -17.57% | -16.55% | -1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -29.00% | -27.63% | -1.37% |
Max Drawdown (10Y)Largest decline over 10 years | -39.22% | -40.73% | +1.51% |
Current DrawdownCurrent decline from peak | -10.65% | -7.14% | -3.51% |
Average DrawdownAverage peak-to-trough decline | -23.90% | -23.03% | -0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.63% | 4.98% | +0.65% |
Volatility
COMT vs. PDBC - Volatility Comparison
The current volatility for iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) is 5.08%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 7.00%. This indicates that COMT 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
| COMT | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 7.00% | -1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 19.62% | 17.41% | +2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.67% | 19.62% | +2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.10% | 19.27% | +1.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.86% | 17.83% | +1.03% |
COMT vs. PDBC - Expense Ratio Comparison
COMT has a 0.48% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
COMT vs. PDBC - Dividend Comparison
COMT's dividend yield for the trailing twelve months is around 5.90%, more than PDBC's 2.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 5.90% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
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% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, COMT and PDBC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PDBC has higher volatility (7.00%) compared to COMT (5.08%). In terms of maximum drawdown, COMT dropped -51.89% vs PDBC's -49.52%.
On 10-year performance, PDBC leads with 9.21% vs 9.00% for COMT. On fees, COMT is cheaper at 0.48% per year. On volatility, COMT has been the lower-risk option at 5.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PDBC has performed better with a 9.21% return vs 9.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 0.58% for PDBC.
COMT has the higher dividend yield at 5.90%, compared with 2.90% for PDBC.
They also come from different issuers: iShares and Invesco. Their fees differ too: 0.48% for COMT and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.87 vs 1.48), 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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