CXRN vs. PDBA

Last updated Jul 17, 2026

CXRN (Teucrium 2x Daily Corn ETF) and PDBA (Invesco Agriculture Commodity Strategy No K-1 ETF) are both exchange-traded funds - CXRN is a Leveraged Commodities fund actively managed by Teucrium, while PDBA is a Agricultural Commodities fund actively managed by Invesco. Both are actively managed. Over the past year, CXRN returned -14.06% vs 10.51% for PDBA. At a 0.44 correlation, their price movements are largely independent. CXRN charges 0.95%/yr vs 0.59%/yr for PDBA.

Performance

CXRN vs. PDBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Teucrium 2x Daily Corn ETF (CXRN) and Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CXRN achieves a -12.67% return, which is significantly lower than PDBA's 8.35% return.

CXRN

• 1D: -2.62%
• 1M: 8.36%
• 6M: -3.79%
• YTD: -12.67%
• 1Y: -14.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PDBA

• 1D: -1.39%
• 1M: 3.51%
• 6M: 8.15%
• YTD: 8.35%
• 1Y: 10.51%
• 3Y*: 13.38%
• 5Y*: —
• 10Y*: —

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

CXRN vs. PDBA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CXRN Teucrium 2x Daily Corn ETF	-12.67%	-25.68%	7.40%
PDBA Invesco Agriculture Commodity Strategy No K-1 ETF	8.35%	-0.76%	1.03%

Correlation

The correlation between CXRN and PDBA is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.44

The correlation between CXRN and PDBA has been stable across timeframes, ranging from 0.44 to 0.51 - a consistent structural relationship.

Return for Risk

CXRN vs. PDBA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CXRN

CXRN Risk / Return Rank: 6
CXRN Sharpe Ratio Rank: 6
CXRN Sortino Ratio Rank: 6
CXRN Omega Ratio Rank: 6
CXRN Calmar Ratio Rank: 6
CXRN Martin Ratio Rank: 3

PDBA

PDBA Risk / Return Rank: 30
PDBA Sharpe Ratio Rank: 32
PDBA Sortino Ratio Rank: 33
PDBA Omega Ratio Rank: 31
PDBA Calmar Ratio Rank: 30
PDBA Martin Ratio Rank: 24

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CXRN vs. PDBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Teucrium 2x Daily Corn ETF (CXRN) 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.

	CXRN	PDBA	Difference
Sharpe ratio: Return per unit of total volatility	-0.38	0.97	-1.35
Sortino ratio: Return per unit of downside risk	-0.31	1.47	-1.78
Omega ratio: Gain probability vs. loss probability	0.96	1.18	-0.21
Calmar ratio: Return relative to maximum drawdown	-0.44	1.23	-1.67
Martin ratio: Return relative to average drawdown	-1.20	2.52	-3.72

CXRN vs. PDBA - Sharpe Ratio Comparison

The current CXRN Sharpe Ratio is -0.38, which is lower than the PDBA Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of CXRN and PDBA, 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

CXRN vs. PDBA - Drawdown Comparison

The maximum CXRN drawdown since its inception was -53.17%, which is greater than PDBA's maximum drawdown of -12.45%. Use the drawdown chart below to compare losses from any high point for CXRN and PDBA.

Drawdown Indicators

	CXRN	PDBA	Difference
Max Drawdown Largest peak-to-trough decline	-53.17%	-12.45%	-40.72%
Max Drawdown (1Y) Largest decline over 1 year	-31.96%	-8.59%	-23.37%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.45%	—
Current Drawdown Current decline from peak	-45.69%	-3.84%	-41.85%
Average Drawdown Average peak-to-trough decline	-31.38%	-4.00%	-27.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.72%	4.18%	+7.54%

Volatility

CXRN vs. PDBA - Volatility Comparison

Teucrium 2x Daily Corn ETF (CXRN) has a higher volatility of 15.65% compared to Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA) at 4.35%. This indicates that CXRN's price experiences larger fluctuations and is considered to be riskier than PDBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CXRN	PDBA	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.65%	4.35%	+11.30%
Volatility (6M) Calculated over the trailing 6-month period	28.25%	7.60%	+20.65%
Volatility (1Y) Calculated over the trailing 1-year period	37.12%	10.95%	+26.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.88%	13.32%	+24.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.88%	13.32%	+24.56%

CXRN vs. PDBA - Expense Ratio Comparison

CXRN has a 0.95% expense ratio, which is higher than PDBA's 0.59% expense ratio.

Dividends

CXRN vs. PDBA - Dividend Comparison

CXRN's dividend yield for the trailing twelve months is around 2.47%, less than PDBA's 3.07% yield.

Position	TTM	2025	2024	2023	2022
CXRN Teucrium 2x Daily Corn ETF	2.47%	3.30%	0.13%	0.00%	0.00%
PDBA Invesco Agriculture Commodity Strategy No K-1 ETF	3.07%	3.32%	13.01%	6.82%	0.74%

Frequently Asked Questions

Can I hold both CXRN and PDBA in my portfolio?

CXRN and PDBA have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CXRN or PDBA?

CXRN has higher volatility (15.65%) compared to PDBA (4.35%). In terms of maximum drawdown, CXRN dropped -53.17% vs PDBA's -12.45%.

Which ETF is better, CXRN or PDBA?

On 1-year performance, PDBA leads with 10.51% vs -14.06% for CXRN. On fees, PDBA is cheaper at 0.59% per year. On volatility, PDBA has been the lower-risk option at 4.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CXRN or PDBA?

Over the 1-year period, PDBA has performed better with a 10.51% return vs -14.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CXRN or PDBA?

PDBA is cheaper with a 0.59% expense ratio, compared with 0.95% for CXRN.

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

PDBA has the higher dividend yield at 3.07%, compared with 2.47% for CXRN.

What is the main difference between CXRN and PDBA?

CXRN is categorized as Leveraged Commodities, while PDBA is Agricultural Commodities. They also come from different issuers: Teucrium and Invesco. Their fees differ too: 0.95% for CXRN and 0.59% for PDBA.

Which has better risk-adjusted returns?

PDBA currently has the higher Sharpe Ratio (0.97 vs -0.38), 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.