PDBA vs. WXET

Last updated Jun 24, 2026

PDBA (Invesco Agriculture Commodity Strategy No K-1 ETF) and WXET (Teucrium 2x Daily Wheat ETF) are both exchange-traded funds - PDBA is a Agricultural Commodities fund actively managed by Invesco, while WXET is a Leveraged Commodities fund actively managed by Teucrium. Both are actively managed. Over the past year, PDBA returned 3.91% vs -16.72% for WXET. At a 0.43 correlation, their price movements are largely independent. PDBA charges 0.59%/yr vs 0.95%/yr for WXET.

Performance

PDBA vs. WXET - 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 Teucrium 2x Daily Wheat ETF (WXET). 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 lower than WXET's 20.90% return.

PDBA

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

WXET

• 1D: -3.02%
• 1M: -17.97%
• YTD: 20.90%
• 6M: 15.80%
• 1Y: -16.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PDBA vs. WXET - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PDBA Invesco Agriculture Commodity Strategy No K-1 ETF	4.26%	-0.76%	1.03%
WXET Teucrium 2x Daily Wheat ETF	20.90%	-37.99%	-0.40%

Correlation

The correlation between PDBA and WXET is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.43

The correlation between PDBA and WXET has been stable across timeframes, ranging from 0.43 to 0.50 - a consistent structural relationship.

Return for Risk

PDBA vs. WXET — 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

WXET

WXET Risk / Return Rank: 6
WXET Sharpe Ratio Rank: 6
WXET Sortino Ratio Rank: 6
WXET Omega Ratio Rank: 7
WXET Calmar Ratio Rank: 4
WXET Martin Ratio Rank: 5

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. WXET - 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 Teucrium 2x Daily Wheat ETF (WXET). 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	WXET	Difference
Sharpe ratio: Return per unit of total volatility	0.37	-0.35	+0.72
Sortino ratio: Return per unit of downside risk	0.59	-0.21	+0.80
Omega ratio: Gain probability vs. loss probability	1.07	0.98	+0.09
Calmar ratio: Return relative to maximum drawdown	0.46	-0.56	+1.02
Martin ratio: Return relative to average drawdown	0.98	-0.90	+1.88

PDBA vs. WXET - Sharpe Ratio Comparison

The current PDBA Sharpe Ratio is 0.37, which is higher than the WXET Sharpe Ratio of -0.35. The chart below compares the historical Sharpe Ratios of PDBA and WXET, 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. WXET - Drawdown Comparison

The maximum PDBA drawdown since its inception was -12.45%, smaller than the maximum WXET drawdown of -48.31%. Use the drawdown chart below to compare losses from any high point for PDBA and WXET.

Drawdown Indicators

	PDBA	WXET	Difference
Max Drawdown Largest peak-to-trough decline	-12.45%	-48.31%	+35.86%
Max Drawdown (1Y) Largest decline over 1 year	-8.59%	-29.75%	+21.16%
Max Drawdown (3Y) Largest decline over 3 years	-12.45%	—	—
Current Drawdown Current decline from peak	-7.47%	-37.50%	+30.03%
Average Drawdown Average peak-to-trough decline	-3.98%	-30.63%	+26.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.02%	19.81%	-15.79%

Volatility

PDBA vs. WXET - Volatility Comparison

The current volatility for Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA) is 2.67%, while Teucrium 2x Daily Wheat ETF (WXET) has a volatility of 11.84%. This indicates that PDBA experiences smaller price fluctuations and is considered to be less risky than WXET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDBA	WXET	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	11.84%	-9.17%
Volatility (6M) Calculated over the trailing 6-month period	6.70%	39.84%	-33.14%
Volatility (1Y) Calculated over the trailing 1-year period	10.58%	48.74%	-38.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.27%	48.12%	-34.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.27%	48.12%	-34.85%

PDBA vs. WXET - Expense Ratio Comparison

PDBA has a 0.59% expense ratio, which is lower than WXET's 0.95% expense ratio.

Dividends

PDBA vs. WXET - Dividend Comparison

PDBA's dividend yield for the trailing twelve months is around 3.19%, more than WXET's 2.08% 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%
WXET Teucrium 2x Daily Wheat ETF	2.08%	3.57%	0.13%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PDBA and WXET in my portfolio?

PDBA and WXET have a correlation of 0.50, 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 WXET?

WXET has higher volatility (11.84%) compared to PDBA (2.67%). In terms of maximum drawdown, PDBA dropped -12.45% vs WXET's -48.31%.

Which ETF is better, PDBA or WXET?

On 1-year performance, PDBA leads with 3.91% vs -16.72% for WXET. On fees, PDBA is cheaper at 0.59% per year. On volatility, PDBA has been the lower-risk option at 2.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PDBA or WXET?

Over the 1-year period, PDBA has performed better with a 3.91% return vs -16.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PDBA or WXET?

PDBA is cheaper with a 0.59% expense ratio, compared with 0.95% for WXET.

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

PDBA has the higher dividend yield at 3.19%, compared with 2.08% for WXET.

What is the main difference between PDBA and WXET?

PDBA is categorized as Agricultural Commodities, while WXET is Leveraged Commodities. They also come from different issuers: Invesco and Teucrium. Their fees differ too: 0.59% for PDBA and 0.95% for WXET.

Which has better risk-adjusted returns?

PDBA currently has the higher Sharpe Ratio (0.37 vs -0.35), 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.