GSG vs. PDBC
Compare and contrast key facts about iShares S&P GSCI Commodity-Indexed Trust (GSG) and Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC).
GSG and PDBC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GSG is a passively managed fund by iShares that tracks the performance of the S&P GSCI Total Return Index. It was launched on Jul 21, 2006. PDBC is an actively managed fund by Invesco. It was launched on Nov 7, 2014.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GSG or PDBC.
Performance
GSG vs. PDBC - Performance Comparison
Returns By Period
In the year-to-date period, GSG achieves a 6.73% return, which is significantly higher than PDBC's 2.18% return. Over the past 10 years, GSG has underperformed PDBC with an annualized return of -2.06%, while PDBC has yielded a comparatively higher 1.28% annualized return.
GSG
6.73%
-0.14%
-3.12%
2.10%
6.83%
-2.06%
PDBC
2.18%
-1.16%
-3.89%
-2.22%
9.19%
1.28%
Key characteristics
| GSG | PDBC | |
|---|---|---|
| Sharpe Ratio | 0.07 | -0.21 |
| Sortino Ratio | 0.21 | -0.20 |
| Omega Ratio | 1.02 | 0.98 |
| Calmar Ratio | 0.01 | -0.11 |
| Martin Ratio | 0.21 | -0.58 |
| Ulcer Index | 5.23% | 5.18% |
| Daily Std Dev | 16.19% | 14.17% |
| Max Drawdown | -89.62% | -49.52% |
| Current Drawdown | -71.63% | -22.38% |
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GSG vs. PDBC - Expense Ratio Comparison
GSG has a 0.75% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Correlation
The correlation between GSG and PDBC is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
GSG vs. PDBC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P GSCI Commodity-Indexed Trust (GSG) 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.
Dividends
GSG vs. PDBC - Dividend Comparison
GSG has not paid dividends to shareholders, while PDBC's dividend yield for the trailing twelve months is around 4.12%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 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 | 4.12% | 4.21% | 13.04% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.50% |
Drawdowns
GSG vs. PDBC - Drawdown Comparison
The maximum GSG drawdown since its inception was -89.62%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for GSG and PDBC. For additional features, visit the drawdowns tool.
Volatility
GSG vs. PDBC - Volatility Comparison
iShares S&P GSCI Commodity-Indexed Trust (GSG) has a higher volatility of 5.41% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 4.84%. This indicates that GSG'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.