PDBC vs. BTC-USD
PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) is Commodities fund actively managed by Invesco, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, PDBC returned 7.99%/yr vs 57.32%/yr for BTC-USD. At a 0.05 correlation, their price movements are largely independent.
Performance
PDBC vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, PDBC achieves a 28.75% return, which is significantly higher than BTC-USD's -27.32% return. Over the past 10 years, PDBC has underperformed BTC-USD with an annualized return of 7.99%, while BTC-USD has yielded a comparatively higher 57.32% annualized return.
PDBC
- 1D
- -1.04%
- 1M
- -8.77%
- YTD
- 28.75%
- 6M
- 30.02%
- 1Y
- 34.56%
- 3Y*
- 12.43%
- 5Y*
- 10.98%
- 10Y*
- 7.99%
BTC-USD
- 1D
- 0.05%
- 1M
- -19.79%
- YTD
- -27.32%
- 6M
- -29.56%
- 1Y
- -39.85%
- 3Y*
- 34.86%
- 5Y*
- 10.27%
- 10Y*
- 57.32%
PDBC vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 28.75% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
BTC-USD Bitcoin | -27.32% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between PDBC and BTC-USD is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.05 |
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Return for Risk
PDBC vs. BTC-USD — Risk / Return Rank
PDBC
BTC-USD
PDBC vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) and Bitcoin (BTC-USD). 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.
| PDBC | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.77 | ||
| Sortino ratioReturn per unit of downside risk | +3.75 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.87 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | -0.78 | +4.33 |
| Martin ratioReturn relative to average drawdown | 9.49 | -1.36 | +10.85 |
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Drawdowns
PDBC vs. BTC-USD - Drawdown Comparison
The maximum PDBC drawdown since its inception was -49.52%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for PDBC and BTC-USD.
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Drawdown Indicators
| PDBC | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -85.30% | +35.78% |
Max Drawdown (1Y)Largest decline over 1 year | -9.78% | -51.21% | +41.43% |
Max Drawdown (3Y)Largest decline over 3 years | -13.95% | -51.21% | +37.26% |
Max Drawdown (5Y)Largest decline over 5 years | -27.63% | -76.67% | +49.04% |
Max Drawdown (10Y)Largest decline over 10 years | -40.73% | -83.80% | +43.07% |
Current DrawdownCurrent decline from peak | -9.78% | -49.01% | +39.23% |
Average DrawdownAverage peak-to-trough decline | -23.16% | -42.35% | +19.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.65% | 35.02% | -31.37% |
Volatility
PDBC vs. BTC-USD - Volatility Comparison
The current volatility for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is 4.91%, while Bitcoin (BTC-USD) has a volatility of 12.11%. This indicates that PDBC experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBC | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.91% | 12.11% | -7.20% |
Volatility (6M)Calculated over the trailing 6-month period | 16.12% | 34.59% | -18.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.85% | 35.62% | -16.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.16% | 44.71% | -25.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.79% | 56.62% | -38.83% |
Frequently Asked Questions
PDBC and BTC-USD have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (12.11%) compared to PDBC (4.91%). In terms of maximum drawdown, PDBC dropped -49.52% vs BTC-USD's -85.30%.
PDBC currently has the higher Sharpe Ratio (1.84 vs -0.93), 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.
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