IX vs. PDBC

Last updated Jun 5, 2026

IX (ORIX Corporation) is a stock, while PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) is Commodities fund actively managed by Invesco. Over the past 10 years, IX returned 13.33%/yr vs 8.55%/yr for PDBC. At a 0.18 correlation, their price movements are largely independent.

Performance

IX vs. PDBC - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with IX having a 36.07% return and PDBC slightly lower at 34.72%. Over the past 10 years, IX has outperformed PDBC with an annualized return of 13.33%, while PDBC has yielded a comparatively lower 8.55% annualized return.

IX

• 1D: 1.30%
• 1M: 19.65%
• YTD: 36.07%
• 6M: 42.25%
• 1Y: 90.35%
• 3Y*: 35.25%
• 5Y*: 20.14%
• 10Y*: 13.33%

PDBC

• 1D: -1.11%
• 1M: -3.98%
• YTD: 34.72%
• 6M: 34.37%
• 1Y: 44.52%
• 3Y*: 14.06%
• 5Y*: 12.14%
• 10Y*: 8.55%

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

IX vs. PDBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IX ORIX Corporation	36.07%	43.44%	17.66%	19.98%	-19.17%	31.62%	-4.86%	16.58%	-15.61%	10.64%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	34.72%	5.96%	2.09%	-6.25%	19.23%	41.72%	-7.84%	11.44%	-12.78%	5.06%

Correlation

The correlation between IX and PDBC is -0.16, 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	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Nov 10, 2014	0.18

The correlation between IX and PDBC shifts across timeframes, from -0.16 (1 year) to 0.18 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

IX vs. PDBC — Risk / Return Rank

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

IX

IX Risk / Return Rank: 93
IX Sharpe Ratio Rank: 96
IX Sortino Ratio Rank: 96
IX Omega Ratio Rank: 95
IX Calmar Ratio Rank: 90
IX Martin Ratio Rank: 91

PDBC

PDBC Risk / Return Rank: 76
PDBC Sharpe Ratio Rank: 75
PDBC Sortino Ratio Rank: 69
PDBC Omega Ratio Rank: 71
PDBC Calmar Ratio Rank: 92
PDBC Martin Ratio Rank: 71

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.

IX vs. PDBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ORIX Corporation (IX) 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.

	IX	PDBC	Difference
Sharpe ratio: Return per unit of total volatility	3.48	2.40	+1.08
Sortino ratio: Return per unit of downside risk	4.37	3.08	+1.29
Omega ratio: Gain probability vs. loss probability	1.58	1.42	+0.16
Calmar ratio: Return relative to maximum drawdown	4.47	6.22	-1.75
Martin ratio: Return relative to average drawdown	12.87	13.04	-0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IX vs. PDBC - Sharpe Ratio Comparison

The current IX Sharpe Ratio is 3.48, which is higher than the PDBC Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of IX and PDBC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IX	PDBC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.48	2.40	+1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.64	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.48	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.23	-0.02

Drawdowns

IX vs. PDBC - Drawdown Comparison

The maximum IX drawdown since its inception was -93.82%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for IX and PDBC.

Drawdown Indicators

	IX	PDBC	Difference
Max Drawdown Largest peak-to-trough decline	-93.82%	-49.52%	-44.30%
Max Drawdown (1Y) Largest decline over 1 year	-20.33%	-7.19%	-13.14%
Max Drawdown (3Y) Largest decline over 3 years	-24.34%	-13.95%	-10.39%
Max Drawdown (5Y) Largest decline over 5 years	-37.67%	-27.63%	-10.04%
Max Drawdown (10Y) Largest decline over 10 years	-47.23%	-40.73%	-6.50%
Current Drawdown Current decline from peak	-0.40%	-5.61%	+5.21%
Average Drawdown Average peak-to-trough decline	-44.97%	-23.20%	-21.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.04%	3.42%	+3.62%

Volatility

IX vs. PDBC - Volatility Comparison

ORIX Corporation (IX) has a higher volatility of 11.67% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 6.27%. This indicates that IX'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.

Volatility by Period

	IX	PDBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.67%	6.27%	+5.40%
Volatility (6M) Calculated over the trailing 6-month period	21.81%	15.82%	+5.99%
Volatility (1Y) Calculated over the trailing 1-year period	26.14%	18.64%	+7.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.95%	19.12%	+5.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.67%	17.78%	+7.89%

Dividends

IX vs. PDBC - Dividend Comparison

IX's dividend yield for the trailing twelve months is around 1.51%, less than PDBC's 2.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IX ORIX Corporation	1.51%	3.43%	3.63%	3.22%	1.94%	0.00%	2.17%	0.00%	0.00%	1.41%	2.40%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	2.85%	3.84%	4.42%	4.21%	13.05%	50.83%	0.01%	1.40%	1.00%	3.83%	6.51%

Frequently Asked Questions

Can I hold both IX and PDBC in my portfolio?

IX and PDBC have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IX or PDBC?

IX has higher volatility (11.67%) compared to PDBC (6.27%). In terms of maximum drawdown, IX dropped -93.82% vs PDBC's -49.52%.

Which has better risk-adjusted returns?

IX currently has the higher Sharpe Ratio (3.48 vs 2.40), 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.