GDE vs. PDBC
GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - GDE is a Gold fund actively managed by WisdomTree, while PDBC is a Commodities fund actively managed by Invesco. Both are actively managed. Over the past 3 years, GDE returned 42.64%/yr vs 12.43%/yr for PDBC. At a 0.29 correlation, their price movements are largely independent. GDE charges 0.20%/yr vs 0.58%/yr for PDBC.
Performance
GDE vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, GDE achieves a 3.16% return, which is significantly lower than PDBC's 28.75% return.
GDE
- 1D
- 0.67%
- 1M
- -9.22%
- YTD
- 3.16%
- 6M
- 4.00%
- 1Y
- 40.98%
- 3Y*
- 42.64%
- 5Y*
- —
- 10Y*
- —
PDBC
- 1D
- -1.04%
- 1M
- -8.28%
- YTD
- 28.75%
- 6M
- 30.02%
- 1Y
- 30.88%
- 3Y*
- 12.43%
- 5Y*
- 10.98%
- 10Y*
- 7.99%
GDE vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 3.16% | 73.76% | 44.79% | 33.85% | -8.58% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 28.75% | 5.96% | 2.09% | -6.25% | 1.36% |
Correlation
The correlation between GDE and PDBC is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.29 |
The correlation between GDE and PDBC shifts across timeframes, from 0.12 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GDE vs. PDBC — Risk / Return Rank
GDE
PDBC
GDE vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) 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.
| GDE | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.32 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 3.55 | -1.72 |
| Martin ratioReturn relative to average drawdown | 5.36 | 9.49 | -4.13 |
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Drawdowns
GDE vs. PDBC - Drawdown Comparison
The maximum GDE drawdown since its inception was -32.01%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for GDE and PDBC.
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Drawdown Indicators
| GDE | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.01% | -49.52% | +17.51% |
Max Drawdown (1Y)Largest decline over 1 year | -22.66% | -9.78% | -12.88% |
Max Drawdown (3Y)Largest decline over 3 years | -22.66% | -13.95% | -8.71% |
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 | -16.53% | -9.78% | -6.75% |
Average DrawdownAverage peak-to-trough decline | -7.93% | -23.16% | +15.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.73% | 3.65% | +4.08% |
Volatility
GDE vs. PDBC - Volatility Comparison
WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) has a higher volatility of 10.77% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 4.91%. This indicates that GDE'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
| GDE | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.77% | 4.91% | +5.86% |
Volatility (6M)Calculated over the trailing 6-month period | 25.97% | 16.12% | +9.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.88% | 18.85% | +11.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.09% | 19.16% | +7.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.09% | 17.79% | +9.30% |
GDE vs. PDBC - Expense Ratio Comparison
GDE has a 0.20% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
GDE vs. PDBC - Dividend Comparison
GDE's dividend yield for the trailing twelve months is around 4.19%, more than PDBC's 2.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 4.19% | 4.32% | 7.14% | 2.22% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 2.98% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
GDE and PDBC have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDE has higher volatility (10.77%) compared to PDBC (4.91%). In terms of maximum drawdown, GDE dropped -32.01% vs PDBC's -49.52%.
On 3-year performance, GDE leads with 42.64% vs 12.43% for PDBC. On fees, GDE is cheaper at 0.20% per year. On volatility, PDBC has been the lower-risk option at 4.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GDE has performed better with a 42.64% return vs 12.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDE is cheaper with a 0.20% expense ratio, compared with 0.58% for PDBC.
GDE has the higher dividend yield at 4.19%, compared with 2.98% for PDBC.
GDE is categorized as Gold, while PDBC is Commodities. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.20% for GDE and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.84 vs 1.39), 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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