HYFI vs. PDBC
HYFI (AB High Yield ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - HYFI is a High Yield Bonds fund actively managed by AllianceBernstein, while PDBC is a Commodities fund actively managed by Invesco. Both are actively managed. Over the past 3 years, HYFI returned 8.99%/yr vs 9.96%/yr for PDBC. At a 0.00 correlation, their price movements are largely independent. HYFI charges 0.40%/yr vs 0.58%/yr for PDBC.
Performance
HYFI vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, HYFI achieves a 2.25% return, which is significantly lower than PDBC's 24.08% return.
HYFI
- 1D
- -0.12%
- 1M
- 0.19%
- 6M
- 1.77%
- YTD
- 2.25%
- 1Y
- 6.52%
- 3Y*
- 8.99%
- 5Y*
- —
- 10Y*
- —
PDBC
- 1D
- 0.12%
- 1M
- -3.63%
- 6M
- 21.24%
- YTD
- 24.08%
- 1Y
- 27.16%
- 3Y*
- 9.96%
- 5Y*
- 10.22%
- 10Y*
- 7.69%
HYFI vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HYFI AB High Yield ETF | 2.25% | 8.91% | 7.98% | 8.66% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 24.08% | 5.96% | 2.09% | 1.96% |
Correlation
The correlation between HYFI and PDBC is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 15, 2023 | 0.00 |
The correlation between HYFI and PDBC shifts across timeframes, from -0.23 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYFI vs. PDBC — Risk / Return Rank
HYFI
PDBC
HYFI vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB High Yield ETF (HYFI) 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.
| HYFI | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.27 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 1.75 | +0.86 |
| Martin ratioReturn relative to average drawdown | 11.71 | 6.25 | +5.47 |
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Drawdowns
HYFI vs. PDBC - Drawdown Comparison
The maximum HYFI drawdown since its inception was -6.34%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for HYFI and PDBC.
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Drawdown Indicators
| HYFI | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.34% | -49.52% | +43.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.49% | -16.55% | +14.06% |
Max Drawdown (3Y)Largest decline over 3 years | -6.34% | -16.55% | +10.21% |
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 | -0.20% | -13.06% | +12.86% |
Average DrawdownAverage peak-to-trough decline | -0.50% | -23.11% | +22.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 4.64% | -4.08% |
Volatility
HYFI vs. PDBC - Volatility Comparison
The current volatility for AB High Yield ETF (HYFI) is 0.90%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 5.48%. This indicates that HYFI 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
| HYFI | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 5.48% | -4.58% |
Volatility (6M)Calculated over the trailing 6-month period | 3.15% | 16.59% | -13.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.95% | 18.72% | -14.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.30% | 19.19% | -13.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.30% | 17.75% | -12.45% |
HYFI vs. PDBC - Expense Ratio Comparison
HYFI has a 0.40% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
HYFI vs. PDBC - Dividend Comparison
HYFI's dividend yield for the trailing twelve months is around 6.63%, more than PDBC's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HYFI AB High Yield ETF | 6.63% | 6.66% | 6.57% | 4.17% | 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 | 3.09% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
HYFI and PDBC have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (5.48%) compared to HYFI (0.90%). In terms of maximum drawdown, HYFI dropped -6.34% vs PDBC's -49.52%.
On 3-year performance, PDBC leads with 9.96% vs 8.99% for HYFI. On fees, HYFI is cheaper at 0.40% per year. On volatility, HYFI has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PDBC has performed better with a 9.96% return vs 8.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYFI is cheaper with a 0.40% expense ratio, compared with 0.58% for PDBC.
HYFI has the higher dividend yield at 6.63%, compared with 3.09% for PDBC.
HYFI is categorized as High Yield Bonds, while PDBC is Commodities. They also come from different issuers: AllianceBernstein and Invesco. Their fees differ too: 0.40% for HYFI and 0.58% for PDBC.
HYFI currently has the higher Sharpe Ratio (1.65 vs 1.55), 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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