DGS vs. PDBC
DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - DGS is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets SmallCap Dividend Index, while PDBC is a Commodities fund actively managed by Invesco. DGS is passively managed, while PDBC is actively managed. Over the past 10 years, DGS returned 10.14%/yr vs 7.99%/yr for PDBC. At a 0.32 correlation, their price movements are largely independent. Both charge a 0.58% expense ratio.
Performance
DGS vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, DGS achieves a 14.94% return, which is significantly lower than PDBC's 28.75% return. Over the past 10 years, DGS has outperformed PDBC with an annualized return of 10.14%, while PDBC has yielded a comparatively lower 7.99% annualized return.
DGS
- 1D
- 0.65%
- 1M
- 1.51%
- YTD
- 14.94%
- 6M
- 17.07%
- 1Y
- 25.61%
- 3Y*
- 15.36%
- 5Y*
- 8.06%
- 10Y*
- 10.14%
PDBC
- 1D
- -1.04%
- 1M
- -8.28%
- YTD
- 28.75%
- 6M
- 30.02%
- 1Y
- 30.88%
- 3Y*
- 12.43%
- 5Y*
- 10.98%
- 10Y*
- 7.99%
DGS vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 14.94% | 21.18% | 1.13% | 19.08% | -12.35% | 15.33% | 4.06% | 18.90% | -16.52% | 37.47% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 28.75% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between DGS and PDBC is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.32 |
The correlation between DGS and PDBC shifts across timeframes, from -0.13 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DGS vs. PDBC — Risk / Return Rank
DGS
PDBC
DGS vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) 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.
| DGS | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.32 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 3.55 | -1.17 |
| Martin ratioReturn relative to average drawdown | 7.84 | 9.49 | -1.65 |
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Drawdowns
DGS vs. PDBC - Drawdown Comparison
The maximum DGS drawdown since its inception was -61.83%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for DGS and PDBC.
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Drawdown Indicators
| DGS | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.83% | -49.52% | -12.31% |
Max Drawdown (1Y)Largest decline over 1 year | -10.06% | -9.78% | -0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -19.31% | -13.95% | -5.36% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -27.63% | +2.77% |
Max Drawdown (10Y)Largest decline over 10 years | -44.08% | -40.73% | -3.35% |
Current DrawdownCurrent decline from peak | -1.05% | -9.78% | +8.73% |
Average DrawdownAverage peak-to-trough decline | -12.57% | -23.16% | +10.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 3.65% | -0.60% |
Volatility
DGS vs. PDBC - Volatility Comparison
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) has a higher volatility of 7.30% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 4.91%. This indicates that DGS'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
| DGS | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.30% | 4.91% | +2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 14.27% | 16.12% | -1.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.60% | 18.85% | -2.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.08% | 19.16% | -4.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.39% | 17.79% | -0.40% |
DGS vs. PDBC - Expense Ratio Comparison
Both DGS and PDBC have an expense ratio of 0.58%.
Dividends
DGS vs. PDBC - Dividend Comparison
DGS's dividend yield for the trailing twelve months is around 3.20%, more than PDBC's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 3.20% | 3.45% | 3.36% | 4.55% | 5.34% | 3.98% | 3.69% | 3.95% | 4.24% | 2.81% | 3.42% | 3.28% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 2.98% | 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
DGS and PDBC have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGS has higher volatility (7.30%) compared to PDBC (4.91%). In terms of maximum drawdown, DGS dropped -61.83% vs PDBC's -49.52%.
On 10-year performance, DGS leads with 10.14% vs 7.99% for PDBC. Both ETFs have the same 0.58% expense ratio. On volatility, PDBC has been the lower-risk option at 4.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DGS has performed better with a 10.14% return vs 7.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DGS and PDBC have the same expense ratio: 0.58% per year.
DGS has the higher dividend yield at 3.20%, compared with 2.98% for PDBC.
DGS is categorized as Emerging Markets Diversified, while PDBC is Commodities. They also come from different issuers: WisdomTree and Invesco.
PDBC currently has the higher Sharpe Ratio (1.84 vs 1.44), 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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