MCSFX vs. PDBC

Last updated Apr 1, 2026

Compare and contrast key facts about MFS Commodity Strategy Fund (MCSFX) and Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC).

MCSFX is managed by MFS. It was launched on Aug 15, 2018. PDBC is an actively managed fund by Invesco. It was launched on Nov 7, 2014.

Performance

MCSFX vs. PDBC - Performance Comparison

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

MCSFX vs. PDBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MCSFX MFS Commodity Strategy Fund	20.28%	17.09%	4.32%	-7.25%	12.27%	26.40%	-1.34%	-1.69%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	30.72%	5.96%	2.09%	-6.25%	19.23%	41.72%	-7.84%	-0.45%

Returns By Period

In the year-to-date period, MCSFX achieves a 20.28% return, which is significantly lower than PDBC's 30.72% return.

MCSFX

• 1D: 0.46%
• 1M: 6.91%
• YTD: 20.28%
• 6M: 26.86%
• 1Y: 29.49%
• 3Y*: 12.79%
• 5Y*: 12.72%
• 10Y*: —

PDBC

• 1D: -1.03%
• 1M: 16.09%
• YTD: 30.72%
• 6M: 33.97%
• 1Y: 32.00%
• 3Y*: 11.28%
• 5Y*: 14.29%
• 10Y*: 9.86%

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

MCSFX vs. PDBC - Expense Ratio Comparison

MCSFX has a 1.89% expense ratio, which is higher than PDBC's 0.58% expense ratio.

MCSFX

MFS Commodity Strategy Fund

PDBC

Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF

Return for Risk

MCSFX vs. PDBC — Risk / Return Rank

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

MCSFX

MCSFX Risk / Return Rank: 88
MCSFX Sharpe Ratio Rank: 89
MCSFX Sortino Ratio Rank: 87
MCSFX Omega Ratio Rank: 83
MCSFX Calmar Ratio Rank: 94
MCSFX Martin Ratio Rank: 87

PDBC

PDBC Risk / Return Rank: 85
PDBC Sharpe Ratio Rank: 87
PDBC Sortino Ratio Rank: 87
PDBC Omega Ratio Rank: 83
PDBC Calmar Ratio Rank: 91
PDBC Martin Ratio Rank: 76

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.

MCSFX vs. PDBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Commodity Strategy Fund (MCSFX) 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.

	MCSFX	PDBC	Difference
Sharpe ratio Return per unit of total volatility	1.84	1.72	+0.12
Sortino ratio Return per unit of downside risk	2.35	2.31	+0.05
Omega ratio Gain probability vs. loss probability	1.34	1.31	+0.03
Calmar ratio Return relative to maximum drawdown	3.19	3.04	+0.15
Martin ratio Return relative to average drawdown	9.29	7.48	+1.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCSFX vs. PDBC - Sharpe Ratio Comparison

The current MCSFX Sharpe Ratio is 1.84, which is comparable to the PDBC Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of MCSFX and PDBC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MCSFX	PDBC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	1.72	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.76	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.22	+0.10

Correlation

The correlation between MCSFX and PDBC is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MCSFX vs. PDBC - Dividend Comparison

MCSFX's dividend yield for the trailing twelve months is around 12.51%, more than PDBC's 2.94% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
MCSFX MFS Commodity Strategy Fund	12.51%	15.05%	2.25%	1.04%	26.24%	54.80%	0.15%	0.86%	0.00%	0.00%	0.00%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	2.94%	3.84%	4.42%	4.21%	13.05%	50.83%	0.01%	1.40%	1.00%	3.83%	6.51%

Drawdowns

MCSFX vs. PDBC - Drawdown Comparison

The maximum MCSFX drawdown since its inception was -37.16%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for MCSFX and PDBC.

Drawdown Indicators

	MCSFX	PDBC	Difference
Max Drawdown Largest peak-to-trough decline	-37.16%	-49.52%	+12.36%
Max Drawdown (1Y) Largest decline over 1 year	-9.56%	-11.07%	+1.51%
Max Drawdown (5Y) Largest decline over 5 years	-37.16%	-27.63%	-9.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.73%	—
Current Drawdown Current decline from peak	-1.59%	-1.03%	-0.56%
Average Drawdown Average peak-to-trough decline	-18.70%	-23.53%	+4.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.28%	4.50%	-1.22%

Volatility

MCSFX vs. PDBC - Volatility Comparison

The current volatility for MFS Commodity Strategy Fund (MCSFX) is 6.45%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 8.15%. This indicates that MCSFX 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.

Volatility by Period

	MCSFX	PDBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.45%	8.15%	-1.70%
Volatility (6M) Calculated over the trailing 6-month period	13.51%	13.88%	-0.37%
Volatility (1Y) Calculated over the trailing 1-year period	16.69%	18.72%	-2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.14%	18.92%	+15.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.85%	17.69%	+12.16%