IOPP vs. PDBC
IOPP (Simplify Tara India Opportunities ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - IOPP is a India Equities fund actively managed by Simplify, while PDBC is a Commodities fund actively managed by Invesco. Both are actively managed. Over the past year, IOPP returned -2.30% vs 27.16% for PDBC. At a correlation of -0.08, they often move in opposite directions. IOPP charges 0.73%/yr vs 0.58%/yr for PDBC.
Performance
IOPP vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, IOPP achieves a -2.22% return, which is significantly lower than PDBC's 24.08% return.
IOPP
- 1D
- 0.01%
- 1M
- 5.35%
- 6M
- -0.81%
- YTD
- -2.22%
- 1Y
- -2.30%
- 3Y*
- —
- 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%
IOPP vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IOPP Simplify Tara India Opportunities ETF | -2.22% | 1.86% | 14.31% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 24.08% | 5.96% | 1.48% |
Correlation
The correlation between IOPP and PDBC is -0.27, 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 | -0.27 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2024 | -0.08 |
The correlation between IOPP and PDBC shifts across timeframes, from -0.27 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IOPP vs. PDBC — Risk / Return Rank
IOPP
PDBC
IOPP vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Tara India Opportunities ETF (IOPP) 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.
| IOPP | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.32 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.27 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 1.75 | -1.94 |
| Martin ratioReturn relative to average drawdown | -0.46 | 6.25 | -6.71 |
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Drawdowns
IOPP vs. PDBC - Drawdown Comparison
The maximum IOPP drawdown since its inception was -23.67%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for IOPP and PDBC.
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Drawdown Indicators
| IOPP | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.67% | -49.52% | +25.85% |
Max Drawdown (1Y)Largest decline over 1 year | -19.42% | -16.55% | -2.87% |
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 | -10.69% | -13.06% | +2.37% |
Average DrawdownAverage peak-to-trough decline | -9.03% | -23.11% | +14.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.74% | 4.64% | +3.10% |
Volatility
IOPP vs. PDBC - Volatility Comparison
The current volatility for Simplify Tara India Opportunities ETF (IOPP) is 4.00%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 5.48%. This indicates that IOPP 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
| IOPP | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.00% | 5.48% | -1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 14.63% | 16.59% | -1.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.31% | 18.72% | -1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.70% | 19.19% | -2.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.70% | 17.75% | -1.05% |
IOPP vs. PDBC - Expense Ratio Comparison
IOPP has a 0.73% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Dividends
IOPP vs. PDBC - Dividend Comparison
IOPP's dividend yield for the trailing twelve months is around 0.38%, less than PDBC's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IOPP Simplify Tara India Opportunities ETF | 0.38% | 0.29% | 6.96% | 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 | 3.09% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
IOPP and PDBC have a correlation of -0.27, 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 IOPP (4.00%). In terms of maximum drawdown, IOPP dropped -23.67% vs PDBC's -49.52%.
On 1-year performance, PDBC leads with 27.16% vs -2.30% for IOPP. On fees, PDBC is cheaper at 0.58% per year. On volatility, IOPP has been the lower-risk option at 4.00%. 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 27.16% return vs -2.30%. 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 0.73% for IOPP.
PDBC has the higher dividend yield at 3.09%, compared with 0.38% for IOPP.
IOPP is categorized as India Equities, while PDBC is Commodities. They also come from different issuers: Simplify and Invesco. Their fees differ too: 0.73% for IOPP and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.55 vs -0.21), 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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