NVO vs. PDBC
NVO (Novo Nordisk A/S) 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, NVO returned 8.20%/yr vs 8.61%/yr for PDBC. Their 0.07 correlation means their historical movements had little consistent relationship.
Performance
NVO vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, NVO achieves a -9.42% return, which is significantly lower than PDBC's 28.15% return. Both investments have delivered pretty close results over the past 10 years, with NVO having a 8.20% annualized return and PDBC not far ahead at 8.61%.
NVO
- 1D
- 0.56%
- 1M
- -9.60%
- 6M
- -2.34%
- YTD
- -9.42%
- 1Y
- -1.30%
- 3Y*
- -14.99%
- 5Y*
- -0.10%
- 10Y*
- 8.20%
- ALL TIME*
- 14.22%
PDBC
- 1D
- 0.47%
- 1M
- 5.47%
- 6M
- 18.25%
- YTD
- 28.15%
- 1Y
- 35.58%
- 3Y*
- 9.41%
- 5Y*
- 11.02%
- 10Y*
- 8.61%
- ALL TIME*
- 3.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $765.50M | $569.62M | $582.19M | |
| $121.86M | $152.61M | $122.20M |
NVO vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NVO Novo Nordisk A/S | -9.42% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 28.15% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between NVO and PDBC is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.07 |
The correlation between NVO and PDBC shifts across timeframes, from -0.10 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NVO vs. PDBC — Risk / Return Rank
NVO
PDBC
NVO vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) 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.
| NVO | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.31 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 2.16 | -2.19 |
| Martin ratioReturn relative to average drawdown | -0.05 | 7.07 | -7.12 |
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Drawdowns
NVO vs. PDBC - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for NVO and PDBC.
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Drawdown Indicators
| NVO | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -49.52% | -25.18% |
Max Drawdown (1Y)Largest decline over 1 year | -43.67% | -16.55% | -27.12% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -16.55% | -58.15% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | -27.63% | -47.07% |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | -40.73% | -33.97% |
Current DrawdownCurrent decline from peak | -67.64% | -10.21% | -57.43% |
Average DrawdownAverage peak-to-trough decline | -17.94% | -23.02% | +5.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.14% | 5.05% | +19.09% |
Volatility
NVO vs. PDBC - Volatility Comparison
Novo Nordisk A/S (NVO) has a higher volatility of 12.94% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 7.58%. This indicates that NVO'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
| NVO | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.94% | 7.58% | +5.36% |
Volatility (6M)Calculated over the trailing 6-month period | 33.87% | 16.65% | +17.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.70% | 19.73% | +26.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.73% | 19.28% | +19.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.67% | 17.85% | +14.82% |
Dividends
NVO vs. PDBC - Dividend Comparison
NVO's dividend yield for the trailing twelve months is around 4.05%, more than PDBC's 3.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NVO Novo Nordisk A/S | 4.05% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 3.00% | 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
NVO 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.
NVO has higher volatility (12.94%) compared to PDBC (7.58%). In terms of maximum drawdown, NVO dropped -74.70% vs PDBC's -49.52%.
PDBC currently has the higher Sharpe Ratio (1.81 vs -0.03), 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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