DJP vs. PDBC
Compare and contrast key facts about iPath Bloomberg Commodity Index Total Return ETN (DJP) and Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC).
DJP and PDBC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DJP is a passively managed fund by Barclays Capital that tracks the performance of the Bloomberg Commodity Index. It was launched on Jun 6, 2006. PDBC is an actively managed fund by Invesco. It was launched on Nov 7, 2014.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DJP or PDBC.
Key characteristics
| DJP | PDBC | |
|---|---|---|
| YTD Return | 5.33% | 6.02% |
| 1Y Return | 2.86% | 4.63% |
| 3Y Return (Ann) | 7.24% | 11.25% |
| 5Y Return (Ann) | 7.58% | 9.45% |
| Sharpe Ratio | 0.17 | 0.27 |
| Daily Std Dev | 13.37% | 14.33% |
| Max Drawdown | -78.35% | -49.52% |
| Current Drawdown | -56.23% | -19.47% |
Correlation
The correlation between DJP and PDBC is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
DJP vs. PDBC - Performance Comparison
In the year-to-date period, DJP achieves a 5.33% return, which is significantly lower than PDBC's 6.02% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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DJP vs. PDBC - Expense Ratio Comparison
DJP has a 0.70% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Risk-Adjusted Performance
DJP vs. PDBC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iPath Bloomberg Commodity Index Total Return ETN (DJP) 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.
Dividends
DJP vs. PDBC - Dividend Comparison
DJP has not paid dividends to shareholders, while PDBC's dividend yield for the trailing twelve months is around 3.97%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 3.97% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Drawdowns
DJP vs. PDBC - Drawdown Comparison
The maximum DJP drawdown since its inception was -78.35%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for DJP and PDBC. For additional features, visit the drawdowns tool.
Volatility
DJP vs. PDBC - Volatility Comparison
iPath Bloomberg Commodity Index Total Return ETN (DJP) has a higher volatility of 3.32% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 2.91%. This indicates that DJP'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.