JULM vs. PDBC
JULM (FT Vest U.S. Equity Max Buffer ETF - July) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - JULM is a Defined Outcome fund actively managed by First Trust, while PDBC is a Commodities fund actively managed by Invesco. Both are actively managed. Over the past year, JULM returned 6.34% vs 25.04% for PDBC. At a 0.00 correlation, their price movements are largely independent. JULM charges 0.85%/yr vs 0.58%/yr for PDBC.
Performance
JULM vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, JULM achieves a 3.02% return, which is significantly lower than PDBC's 19.09% return.
JULM
- 1D
- 0.03%
- 1M
- 0.35%
- YTD
- 3.02%
- 6M
- 3.02%
- 1Y
- 6.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PDBC
- 1D
- -0.63%
- 1M
- -11.70%
- YTD
- 19.09%
- 6M
- 19.09%
- 1Y
- 25.04%
- 3Y*
- 9.48%
- 5Y*
- 8.87%
- 10Y*
- 6.95%
JULM vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
JULM FT Vest U.S. Equity Max Buffer ETF - July | 3.02% | 6.91% | 3.53% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 19.09% | 5.96% | 0.36% |
Correlation
The correlation between JULM and PDBC is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2024 | 0.00 |
The correlation between JULM and PDBC shifts across timeframes, from -0.10 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JULM vs. PDBC — Risk / Return Rank
JULM
PDBC
JULM vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Max Buffer ETF - July (JULM) 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.
| JULM | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.72 | ||
| Sortino ratioReturn per unit of downside risk | +2.99 | ||
| Omega ratioGain probability vs. loss probability | 1.70 | 1.24 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 4.06 | 1.52 | +2.54 |
| Martin ratioReturn relative to average drawdown | 23.71 | 6.10 | +17.60 |
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Drawdowns
JULM vs. PDBC - Drawdown Comparison
The maximum JULM drawdown since its inception was -4.42%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for JULM and PDBC.
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Drawdown Indicators
| JULM | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.42% | -49.52% | +45.10% |
Max Drawdown (1Y)Largest decline over 1 year | -1.57% | -16.55% | +14.98% |
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 | 0.00% | -16.55% | +16.55% |
Average DrawdownAverage peak-to-trough decline | -0.32% | -23.13% | +22.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.27% | 4.11% | -3.84% |
Volatility
JULM vs. PDBC - Volatility Comparison
The current volatility for FT Vest U.S. Equity Max Buffer ETF - July (JULM) is 0.32%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 4.92%. This indicates that JULM 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
| JULM | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.32% | 4.92% | -4.60% |
Volatility (6M)Calculated over the trailing 6-month period | 1.68% | 16.55% | -14.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.07% | 18.56% | -16.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.69% | 19.21% | -15.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.69% | 17.79% | -14.10% |
JULM vs. PDBC - Expense Ratio Comparison
JULM has a 0.85% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Dividends
JULM vs. PDBC - Dividend Comparison
JULM has not paid dividends to shareholders, while PDBC's dividend yield for the trailing twelve months is around 3.22%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
JULM FT Vest U.S. Equity Max Buffer ETF - July | 0.00% | 0.00% | 0.00% | 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 | 3.22% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
JULM and PDBC have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (4.92%) compared to JULM (0.32%). In terms of maximum drawdown, JULM dropped -4.42% vs PDBC's -49.52%.
On 1-year performance, PDBC leads with 25.04% vs 6.34% for JULM. On fees, PDBC is cheaper at 0.58% per year. On volatility, JULM has been the lower-risk option at 0.32%. 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 25.04% return vs 6.34%. 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 0.85% for JULM.
PDBC has the higher dividend yield at 3.22%, compared with 0.00% for JULM.
JULM is categorized as Defined Outcome, while PDBC is Commodities. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.85% for JULM and 0.58% for PDBC.
JULM currently has the higher Sharpe Ratio (3.07 vs 1.36), 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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