EPHE vs. PDBC
EPHE (iShares MSCI Philippines ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - EPHE is a Asia Pacific Equities fund tracking the MSCI Philippines Investable Market Index, while PDBC is a Commodities fund actively managed by Invesco. EPHE is passively managed, while PDBC is actively managed. Over the past 10 years, EPHE returned -3.21%/yr vs 8.21%/yr for PDBC. At a 0.18 correlation, their price movements are largely independent. EPHE charges 0.59%/yr vs 0.58%/yr for PDBC.
Performance
EPHE vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, EPHE achieves a 3.96% return, which is significantly lower than PDBC's 28.00% return. Over the past 10 years, EPHE has underperformed PDBC with an annualized return of -3.21%, while PDBC has yielded a comparatively higher 8.21% annualized return.
EPHE
- 1D
- 0.99%
- 1M
- -2.34%
- 6M
- -1.79%
- YTD
- 3.96%
- 1Y
- -0.89%
- 3Y*
- 0.36%
- 5Y*
- -0.64%
- 10Y*
- -3.21%
PDBC
- 1D
- -1.22%
- 1M
- 1.74%
- 6M
- 23.17%
- YTD
- 28.00%
- 1Y
- 32.27%
- 3Y*
- 10.94%
- 5Y*
- 11.05%
- 10Y*
- 8.21%
EPHE vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPHE iShares MSCI Philippines ETF | 3.96% | 1.56% | -1.41% | 1.27% | -15.87% | -2.23% | -3.95% | 8.50% | -17.50% | 20.20% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 28.00% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between EPHE and PDBC is -0.21, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.18 |
The correlation between EPHE and PDBC shifts across timeframes, from -0.21 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EPHE vs. PDBC — Risk / Return Rank
EPHE
PDBC
EPHE vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Philippines ETF (EPHE) 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.
| EPHE | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.24 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.29 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 1.96 | -2.01 |
| Martin ratioReturn relative to average drawdown | -0.10 | 6.73 | -6.84 |
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Drawdowns
EPHE vs. PDBC - Drawdown Comparison
The maximum EPHE drawdown since its inception was -53.82%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for EPHE and PDBC.
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Drawdown Indicators
| EPHE | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.82% | -49.52% | -4.30% |
Max Drawdown (1Y)Largest decline over 1 year | -15.90% | -16.55% | +0.65% |
Max Drawdown (3Y)Largest decline over 3 years | -21.42% | -16.55% | -4.87% |
Max Drawdown (5Y)Largest decline over 5 years | -32.96% | -27.63% | -5.33% |
Max Drawdown (10Y)Largest decline over 10 years | -51.62% | -40.73% | -10.89% |
Current DrawdownCurrent decline from peak | -31.26% | -10.31% | -20.95% |
Average DrawdownAverage peak-to-trough decline | -21.07% | -23.09% | +2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.83% | 4.80% | +4.03% |
Volatility
EPHE vs. PDBC - Volatility Comparison
iShares MSCI Philippines ETF (EPHE) has a higher volatility of 7.10% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 6.25%. This indicates that EPHE'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
| EPHE | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.10% | 6.25% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 15.94% | 16.80% | -0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.56% | 18.91% | +1.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.44% | 19.24% | -0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.28% | 17.76% | +4.52% |
EPHE vs. PDBC - Expense Ratio Comparison
EPHE has a 0.59% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Dividends
EPHE vs. PDBC - Dividend Comparison
EPHE's dividend yield for the trailing twelve months is around 2.67%, less than PDBC's 3.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPHE iShares MSCI Philippines ETF | 2.67% | 2.11% | 2.32% | 2.01% | 1.73% | 1.05% | 0.72% | 0.78% | 0.45% | 0.36% | 0.71% | 1.03% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 3.00% | 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
EPHE and PDBC have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EPHE has higher volatility (7.10%) compared to PDBC (6.25%). In terms of maximum drawdown, EPHE dropped -53.82% vs PDBC's -49.52%.
On 10-year performance, PDBC leads with 8.21% vs -3.21% for EPHE. On fees, PDBC is cheaper at 0.58% per year. On volatility, PDBC has been the lower-risk option at 6.25%. 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 8.21% return vs -3.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PDBC is cheaper with a 0.58% expense ratio, compared with 0.59% for EPHE.
PDBC has the higher dividend yield at 3.00%, compared with 2.67% for EPHE.
EPHE is categorized as Asia Pacific Equities, while PDBC is Commodities. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.59% for EPHE and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.71 vs -0.04), 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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