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 8.06%/yr vs 7.71%/yr for PDBC. Their correlation of 0.90 suggests significant overlap in exposure. COMT charges 0.48%/yr vs 0.58%/yr for PDBC.
Performance
COMT vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, COMT achieves a 25.05% return, which is significantly higher than PDBC's 23.47% return. Both investments have delivered pretty close results over the past 10 years, with COMT having a 8.06% annualized return and PDBC not far behind at 7.71%.
COMT
- 1D
- -0.76%
- 1M
- -11.08%
- YTD
- 25.05%
- 6M
- 25.05%
- 1Y
- 21.95%
- 3Y*
- 12.36%
- 5Y*
- 11.04%
- 10Y*
- 8.06%
PDBC
- 1D
- -0.85%
- 1M
- -10.11%
- YTD
- 23.47%
- 6M
- 23.29%
- 1Y
- 22.26%
- 3Y*
- 10.44%
- 5Y*
- 10.25%
- 10Y*
- 7.71%
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 | 25.05% | 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 | 23.47% | 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 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 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 | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.21 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.66 | -0.17 |
| Martin ratioReturn relative to average drawdown | 6.26 | 7.01 | -0.75 |
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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 | -14.78% | -13.48% | -1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -14.78% | -13.95% | -0.83% |
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 | -14.78% | -13.48% | -1.30% |
Average DrawdownAverage peak-to-trough decline | -24.01% | -23.15% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 4.04% | +0.12% |
Volatility
COMT vs. PDBC - Volatility Comparison
iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) has a higher volatility of 5.01% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 4.38%. This indicates that COMT'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.
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Volatility by Period
| COMT | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.01% | 4.38% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 19.22% | 16.17% | +3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.47% | 18.73% | +2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.12% | 19.15% | +1.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.89% | 17.78% | +1.11% |
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 6.19%, more than PDBC's 3.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 6.19% | 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 | 3.11% | 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.
COMT has higher volatility (5.01%) compared to PDBC (4.38%). In terms of maximum drawdown, COMT dropped -51.89% vs PDBC's -49.52%.
On 10-year performance, COMT leads with 8.06% vs 7.71% for PDBC. On fees, COMT is cheaper at 0.48% per year. On volatility, PDBC has been the lower-risk option at 4.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, COMT has performed better with a 8.06% return vs 7.71%. 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 6.19%, compared with 3.11% 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 (1.20 vs 1.03), 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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