PDBA vs. DBA
Compare and contrast key facts about Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA) and Invesco DB Agriculture Fund (DBA).
PDBA and DBA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PDBA is an actively managed fund by Invesco. It was launched on Aug 24, 2022. DBA is a passively managed fund by Invesco that tracks the performance of the DBIQ Diversified Agriculture Index TR. It was launched on Jan 5, 2007.
Performance
PDBA vs. DBA - Performance Comparison
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PDBA vs. DBA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PDBA Invesco Agriculture Commodity Strategy No K-1 ETF | 7.26% | -0.76% | 34.16% | 7.83% | -1.60% |
DBA Invesco DB Agriculture Fund | 7.05% | -0.56% | 33.45% | 7.64% | -1.85% |
Returns By Period
The year-to-date returns for both stocks are quite close, with PDBA having a 7.26% return and DBA slightly lower at 7.05%.
PDBA
- 1D
- 0.76%
- 1M
- 5.04%
- YTD
- 7.26%
- 6M
- 5.71%
- 1Y
- 7.20%
- 3Y*
- 15.08%
- 5Y*
- —
- 10Y*
- —
DBA
- 1D
- 0.74%
- 1M
- 5.00%
- YTD
- 7.05%
- 6M
- 5.78%
- 1Y
- 7.46%
- 3Y*
- 14.68%
- 5Y*
- 12.86%
- 10Y*
- 4.49%
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PDBA vs. DBA - Expense Ratio Comparison
PDBA has a 0.59% expense ratio, which is lower than DBA's 0.94% expense ratio.
Return for Risk
PDBA vs. DBA — Risk / Return Rank
PDBA
DBA
PDBA vs. DBA - 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 Invesco DB Agriculture Fund (DBA). 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.
| PDBA | DBA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.61 | 0.62 | -0.01 |
Sortino ratioReturn per unit of downside risk | 0.94 | 0.97 | -0.03 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.12 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.85 | 0.87 | -0.02 |
Martin ratioReturn relative to average drawdown | 1.59 | 1.63 | -0.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PDBA | DBA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.61 | 0.62 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.91 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.92 | 0.09 | +0.84 |
Correlation
The correlation between PDBA and DBA is 0.97, 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
PDBA vs. DBA - Dividend Comparison
PDBA's dividend yield for the trailing twelve months is around 3.10%, less than DBA's 3.34% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PDBA Invesco Agriculture Commodity Strategy No K-1 ETF | 3.10% | 3.32% | 13.01% | 6.82% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% |
DBA Invesco DB Agriculture Fund | 3.34% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% |
Drawdowns
PDBA vs. DBA - Drawdown Comparison
The maximum PDBA drawdown since its inception was -12.45%, smaller than the maximum DBA drawdown of -67.97%. Use the drawdown chart below to compare losses from any high point for PDBA and DBA.
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Drawdown Indicators
| PDBA | DBA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.45% | -67.97% | +55.52% |
Max Drawdown (1Y)Largest decline over 1 year | -8.05% | -7.99% | -0.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.94% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.16% | — |
Current DrawdownCurrent decline from peak | 0.00% | -24.64% | +24.64% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -41.26% | +37.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.30% | 4.26% | +0.04% |
Volatility
PDBA vs. DBA - Volatility Comparison
Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA) has a higher volatility of 2.68% compared to Invesco DB Agriculture Fund (DBA) at 2.55%. This indicates that PDBA's price experiences larger fluctuations and is considered to be riskier than DBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBA | DBA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 2.55% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 6.72% | 6.53% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.80% | 12.09% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.35% | 14.25% | -0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.35% | 13.13% | +0.22% |