IHE vs. PDBC
IHE (iShares U.S. Pharmaceuticals ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - IHE is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Pharmaceuticals Index, while PDBC is a Commodities fund actively managed by Invesco. IHE is passively managed, while PDBC is actively managed. Over the past 10 years, IHE returned 8.82%/yr vs 7.69%/yr for PDBC. At a 0.11 correlation, their price movements are largely independent. IHE charges 0.38%/yr vs 0.58%/yr for PDBC.
Performance
IHE vs. PDBC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IHE achieves a 19.23% return, which is significantly lower than PDBC's 24.08% return. Over the past 10 years, IHE has outperformed PDBC with an annualized return of 8.82%, while PDBC has yielded a comparatively lower 7.69% annualized return.
IHE
- 1D
- -1.67%
- 1M
- 6.40%
- 6M
- 19.24%
- YTD
- 19.23%
- 1Y
- 52.26%
- 3Y*
- 22.13%
- 5Y*
- 11.73%
- 10Y*
- 8.82%
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%
IHE vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IHE iShares U.S. Pharmaceuticals ETF | 19.23% | 31.69% | 8.13% | 1.06% | -4.87% | 13.07% | 13.66% | 15.47% | -7.76% | 10.64% |
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% | -12.78% | 5.06% |
Correlation
The correlation between IHE and PDBC is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.11 |
The correlation between IHE and PDBC shifts across timeframes, from -0.22 (1 year) to 0.11 (10 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IHE vs. PDBC — Risk / Return Rank
IHE
PDBC
IHE vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Pharmaceuticals ETF (IHE) 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.
| IHE | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.27 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 6.06 | 1.75 | +4.31 |
| Martin ratioReturn relative to average drawdown | 18.58 | 6.25 | +12.34 |
Loading charts...
Drawdowns
IHE vs. PDBC - Drawdown Comparison
The maximum IHE drawdown since its inception was -38.20%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for IHE and PDBC.
Loading charts...
Drawdown Indicators
| IHE | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.20% | -49.52% | +11.32% |
Max Drawdown (1Y)Largest decline over 1 year | -8.47% | -16.55% | +8.08% |
Max Drawdown (3Y)Largest decline over 3 years | -15.92% | -16.55% | +0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -16.03% | -27.63% | +11.60% |
Max Drawdown (10Y)Largest decline over 10 years | -29.59% | -40.73% | +11.14% |
Current DrawdownCurrent decline from peak | -2.81% | -13.06% | +10.25% |
Average DrawdownAverage peak-to-trough decline | -7.88% | -23.11% | +15.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 4.64% | -1.88% |
Volatility
IHE vs. PDBC - Volatility Comparison
iShares U.S. Pharmaceuticals ETF (IHE) has a higher volatility of 6.73% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 5.48%. This indicates that IHE'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.
Loading charts...
Volatility by Period
| IHE | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.73% | 5.48% | +1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 13.70% | 16.59% | -2.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.07% | 18.72% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.48% | 19.19% | -2.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 17.75% | +0.30% |
IHE vs. PDBC - Expense Ratio Comparison
IHE has a 0.38% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
IHE vs. PDBC - Dividend Comparison
IHE's dividend yield for the trailing twelve months is around 1.46%, less than PDBC's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHE iShares U.S. Pharmaceuticals ETF | 1.46% | 1.76% | 1.73% | 1.39% | 2.01% | 1.49% | 1.19% | 1.40% | 1.25% | 1.36% | 0.92% | 1.93% |
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% | 0.00% |
Frequently Asked Questions
IHE and PDBC have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHE has higher volatility (6.73%) compared to PDBC (5.48%). In terms of maximum drawdown, IHE dropped -38.20% vs PDBC's -49.52%.
On 10-year performance, IHE leads with 8.82% vs 7.69% for PDBC. On fees, IHE is cheaper at 0.38% per year. On volatility, PDBC has been the lower-risk option at 5.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IHE has performed better with a 8.82% return vs 7.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IHE is cheaper with a 0.38% expense ratio, compared with 0.58% for PDBC.
PDBC has the higher dividend yield at 3.09%, compared with 1.46% for IHE.
IHE is categorized as Health & Biotech Equities, while PDBC is Commodities. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.38% for IHE and 0.58% for PDBC.
IHE currently has the higher Sharpe Ratio (2.84 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.
Find the right allocation for IHE and PDBC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer