IEDI vs. PDBC
IEDI (iShares Evolved U.S. Discretionary Spending ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - IEDI is a Consumer Discretionary Equities fund actively managed by iShares, while PDBC is a Commodities fund actively managed by Invesco. Both are actively managed. Over the past 5 years, IEDI returned 5.22%/yr vs 10.22%/yr for PDBC. At a 0.17 correlation, their price movements are largely independent. IEDI charges 0.18%/yr vs 0.58%/yr for PDBC.
Performance
IEDI vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, IEDI achieves a 0.16% return, which is significantly lower than PDBC's 24.08% return.
IEDI
- 1D
- 0.72%
- 1M
- -1.21%
- 6M
- -4.88%
- YTD
- 0.16%
- 1Y
- 0.48%
- 3Y*
- 11.77%
- 5Y*
- 5.22%
- 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%
IEDI vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IEDI iShares Evolved U.S. Discretionary Spending ETF | 0.16% | 4.05% | 22.11% | 24.32% | -23.17% | 21.19% | 29.83% | 31.07% | 0.42% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 24.08% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -13.72% |
Correlation
The correlation between IEDI and PDBC is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2018 | 0.17 |
The correlation between IEDI and PDBC shifts across timeframes, from -0.21 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IEDI vs. PDBC — Risk / Return Rank
IEDI
PDBC
IEDI vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Evolved U.S. Discretionary Spending ETF (IEDI) 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.
| IEDI | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.56 | ||
| Sortino ratioReturn per unit of downside risk | -2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.27 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 1.75 | -1.77 |
| Martin ratioReturn relative to average drawdown | -0.04 | 6.25 | -6.28 |
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Drawdowns
IEDI vs. PDBC - Drawdown Comparison
The maximum IEDI drawdown since its inception was -30.60%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for IEDI and PDBC.
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Drawdown Indicators
| IEDI | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.60% | -49.52% | +18.92% |
Max Drawdown (1Y)Largest decline over 1 year | -9.44% | -16.55% | +7.11% |
Max Drawdown (3Y)Largest decline over 3 years | -18.64% | -16.55% | -2.09% |
Max Drawdown (5Y)Largest decline over 5 years | -29.79% | -27.63% | -2.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.73% | — |
Current DrawdownCurrent decline from peak | -5.69% | -13.06% | +7.37% |
Average DrawdownAverage peak-to-trough decline | -6.91% | -23.11% | +16.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.23% | 4.64% | -0.41% |
Volatility
IEDI vs. PDBC - Volatility Comparison
The current volatility for iShares Evolved U.S. Discretionary Spending ETF (IEDI) is 4.77%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 5.48%. This indicates that IEDI 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
| IEDI | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 5.48% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 10.86% | 16.59% | -5.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.84% | 18.72% | -4.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.30% | 19.19% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.40% | 17.75% | +1.65% |
IEDI vs. PDBC - Expense Ratio Comparison
IEDI has a 0.18% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
IEDI vs. PDBC - Dividend Comparison
IEDI's dividend yield for the trailing twelve months is around 0.96%, less than PDBC's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IEDI iShares Evolved U.S. Discretionary Spending ETF | 0.96% | 0.95% | 0.90% | 1.13% | 3.38% | 0.70% | 0.83% | 2.07% | 1.57% | 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
IEDI and PDBC have a correlation of -0.21, 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 IEDI (4.77%). In terms of maximum drawdown, IEDI dropped -30.60% vs PDBC's -49.52%.
On 5-year performance, PDBC leads with 10.22% vs 5.22% for IEDI. On fees, IEDI is cheaper at 0.18% per year. On volatility, IEDI has been the lower-risk option at 4.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PDBC has performed better with a 10.22% return vs 5.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEDI is cheaper with a 0.18% expense ratio, compared with 0.58% for PDBC.
PDBC has the higher dividend yield at 3.09%, compared with 0.96% for IEDI.
IEDI is categorized as Consumer Discretionary Equities, while PDBC is Commodities. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for IEDI and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.55 vs -0.01), 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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