PDBA vs. CCRV

Last updated Jun 23, 2026

PDBA (Invesco Agriculture Commodity Strategy No K-1 ETF) and CCRV (iShares Commodity Curve Carry Strategy ETF) are both exchange-traded funds - PDBA is a Agricultural Commodities fund actively managed by Invesco, while CCRV is a Commodities fund tracking the CCRV-US - ICE BofA Commodity Enhanced Carry Index. PDBA is actively managed, while CCRV is passively managed. At a 0.27 correlation, their price movements are largely independent. PDBA charges 0.59%/yr vs 0.40%/yr for CCRV.

Performance

PDBA vs. CCRV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA) and iShares Commodity Curve Carry Strategy ETF (CCRV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PDBA

• 1D: 0.03%
• 1M: -3.37%
• YTD: 4.50%
• 6M: 4.66%
• 1Y: 4.20%
• 3Y*: 11.93%
• 5Y*: —
• 10Y*: —

CCRV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PDBA vs. CCRV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PDBA Invesco Agriculture Commodity Strategy No K-1 ETF	4.50%	-0.76%	34.16%	7.83%	-3.34%
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	5.47%	-2.24%

Correlation

The correlation between PDBA and CCRV is -0.00, 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	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (All Time) Calculated using the full available price history since Aug 24, 2022	0.27

The correlation between PDBA and CCRV shifts across timeframes, from -0.00 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PDBA vs. CCRV — Risk / Return Rank

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

PDBA

PDBA Risk / Return Rank: 13
PDBA Sharpe Ratio Rank: 14
PDBA Sortino Ratio Rank: 13
PDBA Omega Ratio Rank: 13
PDBA Calmar Ratio Rank: 14
PDBA Martin Ratio Rank: 13

CCRV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

PDBA vs. CCRV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA) and iShares Commodity Curve Carry Strategy ETF (CCRV). 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.

	PDBA	CCRV	Difference
Sharpe ratio: Return per unit of total volatility	0.40	—	—
Sortino ratio: Return per unit of downside risk	0.63	—	—
Omega ratio: Gain probability vs. loss probability	1.07	—	—
Calmar ratio: Return relative to maximum drawdown	0.49	—	—
Martin ratio: Return relative to average drawdown	1.05	—	—

Drawdowns

Drawdown Indicators

	PDBA	CCRV	Difference
Max Drawdown Largest peak-to-trough decline	-12.45%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.59%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.45%	—	—
Current Drawdown Current decline from peak	-7.26%	—	—
Average Drawdown Average peak-to-trough decline	-3.98%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.00%	—	—

Volatility

Volatility by Period

	PDBA	CCRV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.60%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.28%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.28%	—	—

PDBA vs. CCRV - Expense Ratio Comparison

PDBA has a 0.59% expense ratio, which is higher than CCRV's 0.40% expense ratio.

Dividends

PDBA vs. CCRV - Dividend Comparison

PDBA's dividend yield for the trailing twelve months is around 3.18%, while CCRV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%
PDBA Invesco Agriculture Commodity Strategy No K-1 ETF	3.18%	3.32%	13.01%	6.82%	0.74%	0.00%

Frequently Asked Questions

Can I hold both PDBA and CCRV in my portfolio?

PDBA and CCRV have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PDBA or CCRV?

On fees, CCRV is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PDBA or CCRV?

CCRV is cheaper with a 0.40% expense ratio, compared with 0.59% for PDBA.

Which ETF pays a higher dividend yield, PDBA or CCRV?

PDBA has the higher dividend yield at 3.18%, compared with 0.00% for CCRV.

What is the main difference between PDBA and CCRV?

PDBA is categorized as Agricultural Commodities, while CCRV is Commodities. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.59% for PDBA and 0.40% for CCRV.