PDBA vs. PPA
Compare and contrast key facts about Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA) and Invesco Aerospace & Defense ETF (PPA).
PDBA and PPA 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. PPA is a passively managed fund by Invesco that tracks the performance of the SPADE Defense Index. It was launched on Oct 26, 2005.
Performance
PDBA vs. PPA - Performance Comparison
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PDBA vs. PPA - 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% |
PPA Invesco Aerospace & Defense ETF | 5.82% | 37.15% | 25.28% | 18.41% | 5.88% |
Returns By Period
In the year-to-date period, PDBA achieves a 7.26% return, which is significantly higher than PPA's 5.82% return.
PDBA
- 1D
- 0.76%
- 1M
- 5.04%
- YTD
- 7.26%
- 6M
- 5.71%
- 1Y
- 7.20%
- 3Y*
- 15.08%
- 5Y*
- —
- 10Y*
- —
PPA
- 1D
- 3.49%
- 1M
- -8.46%
- YTD
- 5.82%
- 6M
- 6.62%
- 1Y
- 42.80%
- 3Y*
- 27.91%
- 5Y*
- 18.59%
- 10Y*
- 17.70%
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PDBA vs. PPA - Expense Ratio Comparison
PDBA has a 0.59% expense ratio, which is lower than PPA's 0.61% expense ratio.
Return for Risk
PDBA vs. PPA — Risk / Return Rank
PDBA
PPA
PDBA vs. PPA - 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 Aerospace & Defense ETF (PPA). 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 | PPA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.61 | 1.99 | -1.37 |
Sortino ratioReturn per unit of downside risk | 0.94 | 2.68 | -1.74 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.37 | -0.26 |
Calmar ratioReturn relative to maximum drawdown | 0.85 | 3.11 | -2.26 |
Martin ratioReturn relative to average drawdown | 1.59 | 12.51 | -10.92 |
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 | PPA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.61 | 1.99 | -1.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.03 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.92 | 0.66 | +0.27 |
Correlation
The correlation between PDBA and PPA is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PDBA vs. PPA - Dividend Comparison
PDBA's dividend yield for the trailing twelve months is around 3.10%, more than PPA's 0.40% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
PPA Invesco Aerospace & Defense ETF | 0.40% | 0.42% | 0.61% | 0.67% | 0.83% | 0.59% | 0.88% | 0.95% | 0.90% | 0.67% | 1.70% | 1.41% |
Drawdowns
PDBA vs. PPA - Drawdown Comparison
The maximum PDBA drawdown since its inception was -12.45%, smaller than the maximum PPA drawdown of -57.37%. Use the drawdown chart below to compare losses from any high point for PDBA and PPA.
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Drawdown Indicators
| PDBA | PPA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.45% | -57.37% | +44.92% |
Max Drawdown (1Y)Largest decline over 1 year | -8.05% | -13.71% | +5.66% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -10.69% | +10.69% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -9.19% | +5.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.30% | 3.41% | +0.89% |
Volatility
PDBA vs. PPA - Volatility Comparison
The current volatility for Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA) is 2.68%, while Invesco Aerospace & Defense ETF (PPA) has a volatility of 7.16%. This indicates that PDBA experiences smaller price fluctuations and is considered to be less risky than PPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBA | PPA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 7.16% | -4.48% |
Volatility (6M)Calculated over the trailing 6-month period | 6.72% | 15.07% | -8.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.80% | 21.64% | -9.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.35% | 18.19% | -4.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.35% | 20.48% | -7.13% |