PDBA vs. SDCP

Last updated Jun 24, 2026

PDBA (Invesco Agriculture Commodity Strategy No K-1 ETF) and SDCP (Virtus Newfleet Short Duration Core Plus Bond ETF) are both exchange-traded funds - PDBA is a Agricultural Commodities fund actively managed by Invesco, while SDCP is a Short-Term Bond fund actively managed by Virtus. Both are actively managed. Over the past year, PDBA returned 3.91% vs 4.00% for SDCP. At a correlation of -0.05, they often move in opposite directions. PDBA charges 0.59%/yr vs 0.35%/yr for SDCP.

Performance

PDBA vs. SDCP - 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 Virtus Newfleet Short Duration Core Plus Bond ETF (SDCP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDBA achieves a 4.26% return, which is significantly higher than SDCP's 1.25% return.

PDBA

• 1D: -0.23%
• 1M: -3.59%
• YTD: 4.26%
• 6M: 4.14%
• 1Y: 3.91%
• 3Y*: 11.84%
• 5Y*: —
• 10Y*: —

SDCP

• 1D: -0.00%
• 1M: 0.32%
• YTD: 1.25%
• 6M: 1.45%
• 1Y: 4.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PDBA vs. SDCP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PDBA Invesco Agriculture Commodity Strategy No K-1 ETF	4.26%	-0.76%	34.16%	-2.96%
SDCP Virtus Newfleet Short Duration Core Plus Bond ETF	1.25%	5.37%	5.24%	1.94%

Correlation

The correlation between PDBA and SDCP is -0.16, 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	-0.16
Correlation (All Time) Calculated using the full available price history since Nov 16, 2023	-0.05

The correlation between PDBA and SDCP shifts across timeframes, from -0.16 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PDBA vs. SDCP — 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

SDCP

SDCP Risk / Return Rank: 92
SDCP Sharpe Ratio Rank: 92
SDCP Sortino Ratio Rank: 95
SDCP Omega Ratio Rank: 95
SDCP Calmar Ratio Rank: 88
SDCP Martin Ratio Rank: 88

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. SDCP - 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 Virtus Newfleet Short Duration Core Plus Bond ETF (SDCP). 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	SDCP	Difference
Sharpe ratio: Return per unit of total volatility	0.37	3.04	-2.67
Sortino ratio: Return per unit of downside risk	0.59	4.84	-4.25
Omega ratio: Gain probability vs. loss probability	1.07	1.72	-0.65
Calmar ratio: Return relative to maximum drawdown	0.46	4.87	-4.41
Martin ratio: Return relative to average drawdown	0.98	18.28	-17.29

PDBA vs. SDCP - Sharpe Ratio Comparison

The current PDBA Sharpe Ratio is 0.37, which is lower than the SDCP Sharpe Ratio of 3.04. The chart below compares the historical Sharpe Ratios of PDBA and SDCP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PDBA vs. SDCP - Drawdown Comparison

The maximum PDBA drawdown since its inception was -12.45%, which is greater than SDCP's maximum drawdown of -1.00%. Use the drawdown chart below to compare losses from any high point for PDBA and SDCP.

Drawdown Indicators

	PDBA	SDCP	Difference
Max Drawdown Largest peak-to-trough decline	-12.45%	-1.00%	-11.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.59%	-0.82%	-7.77%
Max Drawdown (3Y) Largest decline over 3 years	-12.45%	—	—
Current Drawdown Current decline from peak	-7.47%	-0.11%	-7.36%
Average Drawdown Average peak-to-trough decline	-3.98%	-0.18%	-3.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.02%	0.22%	+3.80%

Volatility

PDBA vs. SDCP - Volatility Comparison

Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA) has a higher volatility of 2.67% compared to Virtus Newfleet Short Duration Core Plus Bond ETF (SDCP) at 0.26%. This indicates that PDBA's price experiences larger fluctuations and is considered to be riskier than SDCP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDBA	SDCP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	0.26%	+2.41%
Volatility (6M) Calculated over the trailing 6-month period	6.70%	0.79%	+5.91%
Volatility (1Y) Calculated over the trailing 1-year period	10.58%	1.33%	+9.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.27%	2.02%	+11.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.27%	2.02%	+11.25%

PDBA vs. SDCP - Expense Ratio Comparison

PDBA has a 0.59% expense ratio, which is higher than SDCP's 0.35% expense ratio.

Dividends

PDBA vs. SDCP - Dividend Comparison

PDBA's dividend yield for the trailing twelve months is around 3.19%, less than SDCP's 5.22% yield.

Position	TTM	2025	2024	2023	2022
PDBA Invesco Agriculture Commodity Strategy No K-1 ETF	3.19%	3.32%	13.01%	6.82%	0.74%
SDCP Virtus Newfleet Short Duration Core Plus Bond ETF	5.22%	5.16%	5.25%	0.59%	0.00%

Frequently Asked Questions

Can I hold both PDBA and SDCP in my portfolio?

PDBA and SDCP have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PDBA or SDCP?

PDBA has higher volatility (2.67%) compared to SDCP (0.26%). In terms of maximum drawdown, PDBA dropped -12.45% vs SDCP's -1.00%.

Which ETF is better, PDBA or SDCP?

On 1-year performance, SDCP leads with 4.00% vs 3.91% for PDBA. On fees, SDCP is cheaper at 0.35% per year. On volatility, SDCP has been the lower-risk option at 0.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PDBA or SDCP?

Over the 1-year period, SDCP has performed better with a 4.00% return vs 3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PDBA or SDCP?

SDCP is cheaper with a 0.35% expense ratio, compared with 0.59% for PDBA.

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

SDCP has the higher dividend yield at 5.22%, compared with 3.19% for PDBA.

What is the main difference between PDBA and SDCP?

PDBA is categorized as Agricultural Commodities, while SDCP is Short-Term Bond. They also come from different issuers: Invesco and Virtus. Their fees differ too: 0.59% for PDBA and 0.35% for SDCP.

Which has better risk-adjusted returns?

SDCP currently has the higher Sharpe Ratio (3.04 vs 0.37), 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.