FCTE vs. PDBC
FCTE (SMI 3Fourteen Full-Cycle Trend ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - FCTE is a Large Cap Blend Equities fund actively managed by SMI 3Fourteen, while PDBC is a Commodities fund actively managed by Invesco. Both are actively managed. Over the past year, FCTE returned 11.33% vs 27.16% for PDBC. At a correlation of -0.05, they often move in opposite directions. FCTE charges 0.85%/yr vs 0.58%/yr for PDBC.
Performance
FCTE vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, FCTE achieves a 17.12% return, which is significantly lower than PDBC's 24.08% return.
FCTE
- 1D
- 0.39%
- 1M
- 5.07%
- 6M
- 12.63%
- YTD
- 17.12%
- 1Y
- 11.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PDBC
- 1D
- 0.12%
- 1M
- -3.63%
- 6M
- 21.24%
- YTD
- 24.08%
- 1Y
- 27.16%
- 3Y*
- 9.96%
- 5Y*
- 10.22%
- 10Y*
- 7.69%
FCTE vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FCTE SMI 3Fourteen Full-Cycle Trend ETF | 17.12% | -3.80% | 6.19% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 24.08% | 5.96% | -4.58% |
Correlation
The correlation between FCTE and PDBC is -0.18, 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 | -0.18 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024 | -0.05 |
The correlation between FCTE and PDBC shifts across timeframes, from -0.18 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FCTE vs. PDBC — Risk / Return Rank
FCTE
PDBC
FCTE vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SMI 3Fourteen Full-Cycle Trend ETF (FCTE) 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.
| FCTE | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.27 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 1.75 | -0.97 |
| Martin ratioReturn relative to average drawdown | 2.20 | 6.25 | -4.04 |
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Drawdowns
FCTE vs. PDBC - Drawdown Comparison
The maximum FCTE drawdown since its inception was -19.68%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for FCTE and PDBC.
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Drawdown Indicators
| FCTE | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.68% | -49.52% | +29.84% |
Max Drawdown (1Y)Largest decline over 1 year | -12.85% | -16.55% | +3.70% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.55% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.63% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.73% | — |
Current DrawdownCurrent decline from peak | -0.15% | -13.06% | +12.91% |
Average DrawdownAverage peak-to-trough decline | -5.76% | -23.11% | +17.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.59% | 4.64% | -0.05% |
Volatility
FCTE vs. PDBC - Volatility Comparison
The current volatility for SMI 3Fourteen Full-Cycle Trend ETF (FCTE) is 4.55%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 5.48%. This indicates that FCTE experiences smaller price fluctuations and is considered to be less risky 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
| FCTE | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.55% | 5.48% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 12.58% | 16.59% | -4.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.26% | 18.72% | -3.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.54% | 19.19% | -0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.54% | 17.75% | +0.79% |
FCTE vs. PDBC - Expense Ratio Comparison
FCTE has a 0.85% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Dividends
FCTE vs. PDBC - Dividend Comparison
FCTE's dividend yield for the trailing twelve months is around 0.08%, less than PDBC's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FCTE SMI 3Fourteen Full-Cycle Trend ETF | 0.08% | 0.18% | 0.18% | 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 | 3.09% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
FCTE and PDBC have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (5.48%) compared to FCTE (4.55%). In terms of maximum drawdown, FCTE dropped -19.68% vs PDBC's -49.52%.
On 1-year performance, PDBC leads with 27.16% vs 11.33% for FCTE. On fees, PDBC is cheaper at 0.58% per year. On volatility, FCTE has been the lower-risk option at 4.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PDBC has performed better with a 27.16% return vs 11.33%. 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 0.85% for FCTE.
PDBC has the higher dividend yield at 3.09%, compared with 0.08% for FCTE.
FCTE is categorized as Large Cap Blend Equities, while PDBC is Commodities. They also come from different issuers: SMI 3Fourteen and Invesco. Their fees differ too: 0.85% for FCTE and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.55 vs 0.66), 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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