NAIL vs. PDBC
NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - NAIL is a Leveraged Equities fund tracking the Dow Jones U.S. Select Home Construction Index (300%), while PDBC is a Commodities fund actively managed by Invesco. NAIL is passively managed, while PDBC is actively managed. Over the past 10 years, NAIL returned 3.17%/yr vs 7.69%/yr for PDBC. At a 0.11 correlation, their price movements are largely independent. NAIL charges 0.99%/yr vs 0.58%/yr for PDBC.
Performance
NAIL vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, NAIL achieves a -14.81% return, which is significantly lower than PDBC's 24.08% return. Over the past 10 years, NAIL has underperformed PDBC with an annualized return of 3.17%, while PDBC has yielded a comparatively higher 7.69% annualized return.
NAIL
- 1D
- 2.66%
- 1M
- -1.91%
- 6M
- -36.49%
- YTD
- -14.81%
- 1Y
- -31.98%
- 3Y*
- -16.59%
- 5Y*
- -10.52%
- 10Y*
- 3.17%
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%
NAIL vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | -14.81% | -40.43% | -22.83% | 259.61% | -75.23% | 168.20% | -32.08% | 184.63% | -73.96% | 268.71% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 24.08% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between NAIL and PDBC is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015 | 0.11 |
The correlation between NAIL and PDBC shifts across timeframes, from -0.25 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NAIL vs. PDBC — Risk / Return Rank
NAIL
PDBC
NAIL vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) 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.
| NAIL | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.94 | ||
| Sortino ratioReturn per unit of downside risk | -2.20 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.27 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 1.75 | -2.27 |
| Martin ratioReturn relative to average drawdown | -0.84 | 6.25 | -7.09 |
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Drawdowns
NAIL vs. PDBC - Drawdown Comparison
The maximum NAIL drawdown since its inception was -93.75%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for NAIL and PDBC.
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Drawdown Indicators
| NAIL | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.75% | -49.52% | -44.23% |
Max Drawdown (1Y)Largest decline over 1 year | -67.85% | -16.55% | -51.30% |
Max Drawdown (3Y)Largest decline over 3 years | -82.09% | -16.55% | -65.54% |
Max Drawdown (5Y)Largest decline over 5 years | -84.40% | -27.63% | -56.77% |
Max Drawdown (10Y)Largest decline over 10 years | -93.75% | -40.73% | -53.02% |
Current DrawdownCurrent decline from peak | -75.66% | -13.06% | -62.60% |
Average DrawdownAverage peak-to-trough decline | -44.06% | -23.11% | -20.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.70% | 4.64% | +37.06% |
Volatility
NAIL vs. PDBC - Volatility Comparison
Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) has a higher volatility of 32.41% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 5.48%. This indicates that NAIL'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.
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Volatility by Period
| NAIL | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.41% | 5.48% | +26.93% |
Volatility (6M)Calculated over the trailing 6-month period | 66.77% | 16.59% | +50.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 89.81% | 18.72% | +71.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 87.93% | 19.19% | +68.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.58% | 17.75% | +71.83% |
NAIL vs. PDBC - Expense Ratio Comparison
NAIL has a 0.99% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Dividends
NAIL vs. PDBC - Dividend Comparison
NAIL's dividend yield for the trailing twelve months is around 0.73%, less than PDBC's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | 0.73% | 1.55% | 0.63% | 0.22% | 0.00% | 0.00% | 0.01% | 0.17% | 0.35% | 1.25% | 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
NAIL and PDBC have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NAIL has higher volatility (32.41%) compared to PDBC (5.48%). In terms of maximum drawdown, NAIL dropped -93.75% vs PDBC's -49.52%.
On 10-year performance, PDBC leads with 7.69% vs 3.17% for NAIL. On fees, PDBC is cheaper at 0.58% per year. On volatility, PDBC has been the lower-risk option at 5.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PDBC has performed better with a 7.69% return vs 3.17%. 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 0.99% for NAIL.
PDBC has the higher dividend yield at 3.09%, compared with 0.73% for NAIL.
NAIL is categorized as Leveraged Equities, while PDBC is Commodities. They also come from different issuers: Direxion and Invesco. Their fees differ too: 0.99% for NAIL and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.55 vs -0.39), 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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