ICAP vs. PDBC

Last updated Apr 1, 2026

Compare and contrast key facts about InfraCap Equity Income Fund ETF (ICAP) and Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC).

ICAP and PDBC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ICAP is an actively managed fund by InfraCap. It was launched on Dec 28, 2021. PDBC is an actively managed fund by Invesco. It was launched on Nov 7, 2014.

Performance

ICAP vs. PDBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in InfraCap Equity Income Fund ETF (ICAP) and Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC). The values are adjusted to include any dividend payments, if applicable.

ICAP vs. PDBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ICAP InfraCap Equity Income Fund ETF	-2.78%	15.77%	14.83%	8.82%	-10.10%	0.57%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	30.72%	5.96%	2.09%	-6.25%	19.23%	-0.99%

Returns By Period

In the year-to-date period, ICAP achieves a -2.78% return, which is significantly lower than PDBC's 30.72% return.

ICAP

• 1D: 2.73%
• 1M: -5.34%
• YTD: -2.78%
• 6M: 0.55%
• 1Y: 15.89%
• 3Y*: 13.10%
• 5Y*: —
• 10Y*: —

PDBC

• 1D: -1.03%
• 1M: 16.09%
• YTD: 30.72%
• 6M: 33.97%
• 1Y: 32.00%
• 3Y*: 11.28%
• 5Y*: 14.29%
• 10Y*: 9.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ICAP vs. PDBC - Expense Ratio Comparison

ICAP has a 0.80% expense ratio, which is higher than PDBC's 0.58% expense ratio.

ICAP

InfraCap Equity Income Fund ETF

PDBC

Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF

Return for Risk

ICAP vs. PDBC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ICAP

ICAP Risk / Return Rank: 51
ICAP Sharpe Ratio Rank: 54
ICAP Sortino Ratio Rank: 48
ICAP Omega Ratio Rank: 52
ICAP Calmar Ratio Rank: 51
ICAP Martin Ratio Rank: 48

PDBC

PDBC Risk / Return Rank: 85
PDBC Sharpe Ratio Rank: 87
PDBC Sortino Ratio Rank: 87
PDBC Omega Ratio Rank: 83
PDBC Calmar Ratio Rank: 91
PDBC Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ICAP vs. PDBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for InfraCap Equity Income Fund ETF (ICAP) 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.

	ICAP	PDBC	Difference
Sharpe ratio Return per unit of total volatility	0.94	1.72	-0.79
Sortino ratio Return per unit of downside risk	1.28	2.31	-1.03
Omega ratio Gain probability vs. loss probability	1.19	1.31	-0.12
Calmar ratio Return relative to maximum drawdown	1.27	3.04	-1.77
Martin ratio Return relative to average drawdown	4.57	7.48	-2.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICAP vs. PDBC - Sharpe Ratio Comparison

The current ICAP Sharpe Ratio is 0.94, which is lower than the PDBC Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of ICAP and PDBC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ICAP	PDBC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	1.72	-0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.22	+0.10

Correlation

The correlation between ICAP and PDBC is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ICAP vs. PDBC - Dividend Comparison

ICAP's dividend yield for the trailing twelve months is around 9.95%, more than PDBC's 2.94% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ICAP InfraCap Equity Income Fund ETF	9.95%	8.89%	8.30%	8.65%	8.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	2.94%	3.84%	4.42%	4.21%	13.05%	50.83%	0.01%	1.40%	1.00%	3.83%	6.51%

Drawdowns

ICAP vs. PDBC - Drawdown Comparison

The maximum ICAP drawdown since its inception was -24.20%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for ICAP and PDBC.

Drawdown Indicators

	ICAP	PDBC	Difference
Max Drawdown Largest peak-to-trough decline	-24.20%	-49.52%	+25.32%
Max Drawdown (1Y) Largest decline over 1 year	-12.64%	-11.07%	-1.57%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.63%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.73%	—
Current Drawdown Current decline from peak	-8.21%	-1.03%	-7.18%
Average Drawdown Average peak-to-trough decline	-8.06%	-23.53%	+15.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	4.50%	-0.98%

Volatility

ICAP vs. PDBC - Volatility Comparison

The current volatility for InfraCap Equity Income Fund ETF (ICAP) is 5.25%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 8.15%. This indicates that ICAP 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.

Volatility by Period

	ICAP	PDBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.25%	8.15%	-2.90%
Volatility (6M) Calculated over the trailing 6-month period	10.26%	13.88%	-3.62%
Volatility (1Y) Calculated over the trailing 1-year period	17.06%	18.72%	-1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.33%	18.92%	-0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.33%	17.69%	+0.64%