FNDX vs. PDBC
FNDX (Schwab Fundamental U.S. Large Company Index ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index, while PDBC is a Commodities fund actively managed by Invesco. FNDX is passively managed, while PDBC is actively managed. Over the past 10 years, FNDX returned 14.32%/yr vs 8.06%/yr for PDBC. At a 0.33 correlation, their price movements are largely independent. FNDX charges 0.25%/yr vs 0.58%/yr for PDBC.
Performance
FNDX vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, FNDX achieves a 14.46% return, which is significantly lower than PDBC's 30.11% return. Over the past 10 years, FNDX has outperformed PDBC with an annualized return of 14.32%, while PDBC has yielded a comparatively lower 8.06% annualized return.
FNDX
- 1D
- 1.47%
- 1M
- 1.97%
- YTD
- 14.46%
- 6M
- 13.13%
- 1Y
- 30.72%
- 3Y*
- 20.21%
- 5Y*
- 12.91%
- 10Y*
- 14.32%
PDBC
- 1D
- -1.09%
- 1M
- -8.83%
- YTD
- 30.11%
- 6M
- 30.06%
- 1Y
- 36.08%
- 3Y*
- 13.30%
- 5Y*
- 11.21%
- 10Y*
- 8.06%
FNDX vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNDX Schwab Fundamental U.S. Large Company Index ETF | 14.46% | 16.94% | 16.77% | 18.23% | -6.92% | 31.73% | 9.12% | 28.65% | -7.30% | 17.12% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 30.11% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between FNDX and PDBC is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.33 |
The correlation between FNDX and PDBC shifts across timeframes, from -0.08 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FNDX vs. PDBC — Risk / Return Rank
FNDX
PDBC
FNDX vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental U.S. Large Company Index ETF (FNDX) 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.
| FNDX | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.34 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 5.09 | 4.11 | +0.98 |
| Martin ratioReturn relative to average drawdown | 19.73 | 10.05 | +9.68 |
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Drawdowns
FNDX vs. PDBC - Drawdown Comparison
The maximum FNDX drawdown since its inception was -37.72%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for FNDX and PDBC.
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Drawdown Indicators
| FNDX | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.72% | -49.52% | +11.80% |
Max Drawdown (1Y)Largest decline over 1 year | -6.06% | -8.83% | +2.77% |
Max Drawdown (3Y)Largest decline over 3 years | -16.30% | -13.95% | -2.35% |
Max Drawdown (5Y)Largest decline over 5 years | -19.06% | -27.63% | +8.57% |
Max Drawdown (10Y)Largest decline over 10 years | -37.72% | -40.73% | +3.01% |
Current DrawdownCurrent decline from peak | -0.77% | -8.83% | +8.06% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -23.17% | +19.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.56% | 3.60% | -2.04% |
Volatility
FNDX vs. PDBC - Volatility Comparison
The current volatility for Schwab Fundamental U.S. Large Company Index ETF (FNDX) is 3.07%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 4.92%. This indicates that FNDX 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
| FNDX | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 4.92% | -1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 7.63% | 16.08% | -8.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.42% | 18.88% | -8.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.22% | 19.16% | -3.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.51% | 17.78% | -0.27% |
FNDX vs. PDBC - Expense Ratio Comparison
FNDX has a 0.25% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
FNDX vs. PDBC - Dividend Comparison
FNDX's dividend yield for the trailing twelve months is around 1.45%, less than PDBC's 2.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNDX Schwab Fundamental U.S. Large Company Index ETF | 1.45% | 1.63% | 1.76% | 1.82% | 2.07% | 1.64% | 2.29% | 2.23% | 2.40% | 1.86% | 2.01% | 2.01% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 2.95% | 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
FNDX and PDBC have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (4.92%) compared to FNDX (3.07%). In terms of maximum drawdown, FNDX dropped -37.72% vs PDBC's -49.52%.
On 10-year performance, FNDX leads with 14.32% vs 8.06% for PDBC. On fees, FNDX is cheaper at 0.25% per year. On volatility, FNDX has been the lower-risk option at 3.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FNDX has performed better with a 14.32% return vs 8.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNDX is cheaper with a 0.25% expense ratio, compared with 0.58% for PDBC.
PDBC has the higher dividend yield at 2.95%, compared with 1.45% for FNDX.
FNDX is categorized as Large Cap Value Equities, while PDBC is Commodities. They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.25% for FNDX and 0.58% for PDBC.
FNDX currently has the higher Sharpe Ratio (2.96 vs 1.93), 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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