FTGC vs. PDBC
FTGC (First Trust Global Tactical Commodity Strategy Fund) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both Commodities funds. Both are actively managed. Over the past 10 years, FTGC returned 7.77%/yr vs 8.79%/yr for PDBC. Their correlation of 0.82 suggests significant overlap in exposure. FTGC charges 0.95%/yr vs 0.58%/yr for PDBC.
Performance
FTGC vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, FTGC achieves a 27.15% return, which is significantly lower than PDBC's 36.23% return. Over the past 10 years, FTGC has underperformed PDBC with an annualized return of 7.77%, while PDBC has yielded a comparatively higher 8.79% annualized return.
FTGC
- 1D
- -0.44%
- 1M
- -2.63%
- YTD
- 27.15%
- 6M
- 26.06%
- 1Y
- 41.32%
- 3Y*
- 18.13%
- 5Y*
- 13.08%
- 10Y*
- 7.77%
PDBC
- 1D
- 0.39%
- 1M
- -3.37%
- YTD
- 36.23%
- 6M
- 36.27%
- 1Y
- 45.46%
- 3Y*
- 14.42%
- 5Y*
- 12.39%
- 10Y*
- 8.79%
FTGC vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTGC First Trust Global Tactical Commodity Strategy Fund | 27.15% | 14.61% | 9.96% | -5.36% | 17.36% | 27.95% | 2.17% | 6.40% | -12.75% | 2.73% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 36.23% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between FTGC and PDBC is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2014 | 0.82 |
The correlation between FTGC and PDBC has been stable across timeframes, ranging from 0.82 to 0.92 - a consistent structural relationship.
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Return for Risk
FTGC vs. PDBC — Risk / Return Rank
FTGC
PDBC
FTGC vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Global Tactical Commodity Strategy Fund (FTGC) 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.
| FTGC | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.43 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 5.25 | 6.35 | -1.10 |
| Martin ratioReturn relative to average drawdown | 17.39 | 13.39 | +4.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FTGC | PDBC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.66 | 2.46 | +0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.65 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.50 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.23 | +0.01 |
Drawdowns
FTGC vs. PDBC - Drawdown Comparison
The maximum FTGC drawdown since its inception was -59.47%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for FTGC and PDBC.
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Drawdown Indicators
| FTGC | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.47% | -49.52% | -9.95% |
Max Drawdown (1Y)Largest decline over 1 year | -7.91% | -7.19% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -10.39% | -13.95% | +3.56% |
Max Drawdown (5Y)Largest decline over 5 years | -22.64% | -27.63% | +4.99% |
Max Drawdown (10Y)Largest decline over 10 years | -35.91% | -40.73% | +4.82% |
Current DrawdownCurrent decline from peak | -4.65% | -4.55% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -27.42% | -23.21% | -4.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.38% | 3.41% | -1.03% |
Volatility
FTGC vs. PDBC - Volatility Comparison
The current volatility for First Trust Global Tactical Commodity Strategy Fund (FTGC) is 4.50%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 6.20%. This indicates that FTGC 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
| FTGC | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.50% | 6.20% | -1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 13.15% | 15.78% | -2.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.59% | 18.61% | -3.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.00% | 19.12% | -3.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.71% | 17.78% | -3.07% |
FTGC vs. PDBC - Expense Ratio Comparison
FTGC has a 0.95% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Dividends
FTGC vs. PDBC - Dividend Comparison
FTGC's dividend yield for the trailing twelve months is around 15.08%, more than PDBC's 2.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FTGC First Trust Global Tactical Commodity Strategy Fund | 15.08% | 17.74% | 3.05% | 3.34% | 10.35% | 7.21% | 0.00% | 0.81% | 0.80% | 1.21% | 0.00% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 2.82% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
With a correlation of 0.92, FTGC and PDBC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PDBC has higher volatility (6.20%) compared to FTGC (4.50%). In terms of maximum drawdown, FTGC dropped -59.47% vs PDBC's -49.52%.
On 10-year performance, PDBC leads with 8.79% vs 7.77% for FTGC. On fees, PDBC is cheaper at 0.58% per year. On volatility, FTGC has been the lower-risk option at 4.50%. 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 8.79% return vs 7.77%. 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 0.95% for FTGC.
FTGC has the higher dividend yield at 15.08%, compared with 2.82% for PDBC.
They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.95% for FTGC and 0.58% for PDBC.
FTGC currently has the higher Sharpe Ratio (2.66 vs 2.46), 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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