GCC vs. PDBC
GCC (WisdomTree Enhanced 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, GCC returned 5.86%/yr vs 7.59%/yr for PDBC. A 0.77 correlation means they provide meaningful diversification when combined. GCC charges 0.55%/yr vs 0.58%/yr for PDBC.
Performance
GCC vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, GCC achieves a 8.13% return, which is significantly lower than PDBC's 22.11% return. Over the past 10 years, GCC has underperformed PDBC with an annualized return of 5.86%, while PDBC has yielded a comparatively higher 7.59% annualized return.
GCC
- 1D
- -1.29%
- 1M
- -9.68%
- YTD
- 8.13%
- 6M
- 6.82%
- 1Y
- 21.66%
- 3Y*
- 14.89%
- 5Y*
- 10.21%
- 10Y*
- 5.86%
PDBC
- 1D
- -1.10%
- 1M
- -11.10%
- YTD
- 22.11%
- 6M
- 20.75%
- 1Y
- 25.24%
- 3Y*
- 10.03%
- 5Y*
- 9.92%
- 10Y*
- 7.59%
GCC vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GCC WisdomTree Enhanced Commodity Strategy Fund | 8.13% | 20.01% | 15.13% | -3.72% | 7.74% | 19.96% | 1.38% | 7.07% | -8.69% | -0.57% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 22.11% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between GCC and PDBC is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.77 |
The correlation between GCC and PDBC has been stable across timeframes, ranging from 0.76 to 0.86 - a consistent structural relationship.
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Return for Risk
GCC vs. PDBC — Risk / Return Rank
GCC
PDBC
GCC vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Enhanced Commodity Strategy Fund (GCC) 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.
| GCC | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.76 | -0.16 |
| Martin ratioReturn relative to average drawdown | 5.99 | 7.71 | -1.72 |
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Drawdowns
GCC vs. PDBC - Drawdown Comparison
The maximum GCC drawdown since its inception was -63.19%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for GCC and PDBC.
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Drawdown Indicators
| GCC | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.19% | -49.52% | -13.67% |
Max Drawdown (1Y)Largest decline over 1 year | -13.67% | -14.44% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -13.67% | -14.44% | +0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -27.07% | -27.63% | +0.56% |
Max Drawdown (10Y)Largest decline over 10 years | -32.67% | -40.73% | +8.06% |
Current DrawdownCurrent decline from peak | -13.67% | -14.44% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -34.83% | -23.14% | -11.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.63% | 3.31% | +0.32% |
Volatility
GCC vs. PDBC - Volatility Comparison
The current volatility for WisdomTree Enhanced Commodity Strategy Fund (GCC) is 4.06%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 4.42%. This indicates that GCC 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
| GCC | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.06% | 4.42% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 15.27% | 16.20% | -0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.10% | 18.73% | -1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.93% | 19.15% | -2.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.79% | 17.77% | -2.98% |
GCC vs. PDBC - Expense Ratio Comparison
GCC has a 0.55% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
GCC vs. PDBC - Dividend Comparison
GCC's dividend yield for the trailing twelve months is around 6.14%, more than PDBC's 3.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GCC WisdomTree Enhanced Commodity Strategy Fund | 6.14% | 6.64% | 3.51% | 3.68% | 22.49% | 9.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 3.14% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
GCC and PDBC have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (4.42%) compared to GCC (4.06%). In terms of maximum drawdown, GCC dropped -63.19% vs PDBC's -49.52%.
On 10-year performance, PDBC leads with 7.59% vs 5.86% for GCC. On fees, GCC is cheaper at 0.55% per year. On volatility, GCC has been the lower-risk option at 4.06%. 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 7.59% return vs 5.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GCC is cheaper with a 0.55% expense ratio, compared with 0.58% for PDBC.
GCC has the higher dividend yield at 6.14%, compared with 3.14% for PDBC.
They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.55% for GCC and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.38 vs 1.27), 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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