NFTY vs. PDBC
NFTY (First Trust India NIFTY 50 Equal Weight ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - NFTY is a India Equities fund tracking the NIFTY 50 Equal Weight Index, while PDBC is a Commodities fund actively managed by Invesco. NFTY is passively managed, while PDBC is actively managed. Over the past 10 years, NFTY returned 7.73%/yr vs 7.69%/yr for PDBC. At a 0.14 correlation, their price movements are largely independent. NFTY charges 0.80%/yr vs 0.58%/yr for PDBC.
Performance
NFTY vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, NFTY achieves a -7.15% return, which is significantly lower than PDBC's 24.08% return. Both investments have delivered pretty close results over the past 10 years, with NFTY having a 7.73% annualized return and PDBC not far behind at 7.69%.
NFTY
- 1D
- 0.30%
- 1M
- 1.78%
- 6M
- -6.25%
- YTD
- -7.15%
- 1Y
- -7.46%
- 3Y*
- 5.40%
- 5Y*
- 5.84%
- 10Y*
- 7.73%
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%
NFTY vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NFTY First Trust India NIFTY 50 Equal Weight ETF | -7.15% | 5.47% | 5.18% | 24.00% | -3.46% | 26.83% | 10.04% | 0.58% | -1.51% | 21.78% |
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 NFTY 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 (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.14 |
The correlation between NFTY and PDBC shifts across timeframes, from -0.27 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NFTY vs. PDBC — Risk / Return Rank
NFTY
PDBC
NFTY vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust India NIFTY 50 Equal Weight ETF (NFTY) 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.
| NFTY | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.10 | ||
| Sortino ratioReturn per unit of downside risk | -2.86 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.27 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | 1.75 | -2.25 |
| Martin ratioReturn relative to average drawdown | -1.20 | 6.25 | -7.45 |
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Drawdowns
NFTY vs. PDBC - Drawdown Comparison
The maximum NFTY drawdown since its inception was -47.67%, roughly equal to the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for NFTY and PDBC.
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Drawdown Indicators
| NFTY | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.67% | -49.52% | +1.85% |
Max Drawdown (1Y)Largest decline over 1 year | -16.14% | -16.55% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -21.55% | -16.55% | -5.00% |
Max Drawdown (5Y)Largest decline over 5 years | -21.55% | -27.63% | +6.08% |
Max Drawdown (10Y)Largest decline over 10 years | -47.67% | -40.73% | -6.94% |
Current DrawdownCurrent decline from peak | -15.12% | -13.06% | -2.06% |
Average DrawdownAverage peak-to-trough decline | -9.62% | -23.11% | +13.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.72% | 4.64% | +2.08% |
Volatility
NFTY vs. PDBC - Volatility Comparison
The current volatility for First Trust India NIFTY 50 Equal Weight ETF (NFTY) is 3.71%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 5.48%. This indicates that NFTY 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
| NFTY | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.71% | 5.48% | -1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 12.66% | 16.59% | -3.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.72% | 18.72% | -4.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.40% | 19.19% | -1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.65% | 17.75% | +2.90% |
NFTY vs. PDBC - Expense Ratio Comparison
NFTY has a 0.80% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Dividends
NFTY vs. PDBC - Dividend Comparison
NFTY's dividend yield for the trailing twelve months is around 1.91%, less than PDBC's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NFTY First Trust India NIFTY 50 Equal Weight ETF | 1.91% | 1.24% | 1.61% | 0.13% | 5.89% | 1.53% | 0.61% | 0.97% | 0.00% | 4.10% | 3.28% | 4.39% |
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% | 0.00% |
Frequently Asked Questions
NFTY 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 NFTY (3.71%). In terms of maximum drawdown, NFTY dropped -47.67% vs PDBC's -49.52%.
On 10-year performance, NFTY leads with 7.73% vs 7.69% for PDBC. On fees, PDBC is cheaper at 0.58% per year. On volatility, NFTY has been the lower-risk option at 3.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NFTY has performed better with a 7.73% return vs 7.69%. 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 0.80% for NFTY.
PDBC has the higher dividend yield at 3.09%, compared with 1.91% for NFTY.
NFTY is categorized as India Equities, while PDBC is Commodities. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.80% for NFTY and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.55 vs -0.55), 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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