INDE vs. PDBC
INDE (Matthews India Active ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - INDE is a India Equities fund actively managed by Matthews, while PDBC is a Commodities fund actively managed by Invesco. Both are actively managed. Over the past year, INDE returned -0.81% vs 30.72% for PDBC. At a correlation of -0.07, they often move in opposite directions. INDE charges 0.79%/yr vs 0.58%/yr for PDBC.
Performance
INDE vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, INDE achieves a -2.65% return, which is significantly lower than PDBC's 27.55% return.
INDE
- 1D
- -1.35%
- 1M
- 4.23%
- 6M
- -1.11%
- YTD
- -2.65%
- 1Y
- -0.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PDBC
- 1D
- 2.80%
- 1M
- -0.94%
- 6M
- 22.82%
- YTD
- 27.55%
- 1Y
- 30.72%
- 3Y*
- 10.42%
- 5Y*
- 10.81%
- 10Y*
- 8.14%
INDE vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
INDE Matthews India Active ETF | -2.65% | 2.39% | 10.95% | 7.84% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 27.55% | 5.96% | 2.09% | -8.35% |
Correlation
The correlation between INDE and PDBC is -0.28, 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 | -0.28 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023 | -0.07 |
Over the past year, the inverse relationship between INDE and PDBC has strengthened: their correlation has moved from -0.07 to -0.28, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
INDE vs. PDBC — Risk / Return Rank
INDE
PDBC
INDE vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews India Active ETF (INDE) 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.
| INDE | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.28 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 1.86 | -1.91 |
| Martin ratioReturn relative to average drawdown | -0.11 | 6.57 | -6.68 |
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Drawdowns
INDE vs. PDBC - Drawdown Comparison
The maximum INDE drawdown since its inception was -22.89%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for INDE and PDBC.
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Drawdown Indicators
| INDE | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.89% | -49.52% | +26.63% |
Max Drawdown (1Y)Largest decline over 1 year | -19.10% | -16.55% | -2.55% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.55% | — |
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 | -9.85% | -10.63% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -7.65% | -23.11% | +15.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.48% | 4.69% | +2.79% |
Volatility
INDE vs. PDBC - Volatility Comparison
The current volatility for Matthews India Active ETF (INDE) is 4.60%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 6.25%. This indicates that INDE 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
| INDE | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 6.25% | -1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 14.82% | 16.77% | -1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.25% | 18.90% | -1.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.55% | 19.24% | -2.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.55% | 17.76% | -1.21% |
INDE vs. PDBC - Expense Ratio Comparison
INDE has a 0.79% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Dividends
INDE vs. PDBC - Dividend Comparison
INDE's dividend yield for the trailing twelve months is around 1.80%, less than PDBC's 3.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
INDE Matthews India Active ETF | 1.80% | 1.75% | 0.56% | 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 | 3.01% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
INDE and PDBC have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (6.25%) compared to INDE (4.60%). In terms of maximum drawdown, INDE dropped -22.89% vs PDBC's -49.52%.
On 1-year performance, PDBC leads with 30.72% vs -0.81% for INDE. On fees, PDBC is cheaper at 0.58% per year. On volatility, INDE has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PDBC has performed better with a 30.72% return vs -0.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PDBC is cheaper with a 0.58% expense ratio, compared with 0.79% for INDE.
PDBC has the higher dividend yield at 3.01%, compared with 1.80% for INDE.
INDE is categorized as India Equities, while PDBC is Commodities. They also come from different issuers: Matthews and Invesco. Their fees differ too: 0.79% for INDE and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.64 vs -0.05), 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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