PDBC vs. BWET
PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) and BWET (Breakwave Tanker Shipping ETF) are both Commodities funds. PDBC is actively managed, while BWET is passively managed. Over the past 3 years, PDBC returned 14.42%/yr vs 129.64%/yr for BWET. At a 0.03 correlation, their price movements are largely independent. PDBC charges 0.58%/yr vs 3.50%/yr for BWET.
Performance
PDBC vs. BWET - Performance Comparison
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Returns By Period
In the year-to-date period, PDBC achieves a 36.23% return, which is significantly lower than BWET's 875.88% return.
PDBC
- 1D
- 0.39%
- 1M
- -3.37%
- YTD
- 36.23%
- 6M
- 36.27%
- 1Y
- 45.46%
- 3Y*
- 14.42%
- 5Y*
- 12.39%
- 10Y*
- 8.79%
BWET
- 1D
- 4.26%
- 1M
- 9.15%
- YTD
- 875.88%
- 6M
- 735.56%
- 1Y
- 1,800.91%
- 3Y*
- 129.64%
- 5Y*
- —
- 10Y*
- —
PDBC vs. BWET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 36.23% | 5.96% | 2.09% | 2.64% |
BWET Breakwave Tanker Shipping ETF | 875.88% | 96.22% | -39.21% | 15.94% |
Correlation
The correlation between PDBC and BWET is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since May 4, 2023 | 0.03 |
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Return for Risk
PDBC vs. BWET — Risk / Return Rank
PDBC
BWET
PDBC vs. BWET - 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 Breakwave Tanker Shipping ETF (BWET). 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.
| PDBC | BWET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -16.11 | ||
| Sortino ratioReturn per unit of downside risk | -3.41 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.96 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | 6.35 | 59.51 | -53.16 |
| Martin ratioReturn relative to average drawdown | 13.39 | 158.07 | -144.68 |
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
| PDBC | BWET | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 18.57 | -16.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 1.90 | -1.67 |
Drawdowns
PDBC vs. BWET - Drawdown Comparison
The maximum PDBC drawdown since its inception was -49.52%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for PDBC and BWET.
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Drawdown Indicators
| PDBC | BWET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -56.90% | +7.38% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -30.64% | +23.45% |
Max Drawdown (3Y)Largest decline over 3 years | -13.95% | -56.90% | +42.95% |
Max Drawdown (5Y)Largest decline over 5 years | -27.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.73% | — | — |
Current DrawdownCurrent decline from peak | -4.55% | -11.29% | +6.74% |
Average DrawdownAverage peak-to-trough decline | -23.21% | -24.09% | +0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 11.51% | -8.10% |
Volatility
PDBC vs. BWET - Volatility Comparison
The current volatility for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is 6.20%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 33.96%. This indicates that PDBC experiences smaller price fluctuations and is considered to be less risky than BWET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBC | BWET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 33.96% | -27.76% |
Volatility (6M)Calculated over the trailing 6-month period | 15.78% | 88.49% | -72.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.61% | 98.35% | -79.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.12% | 70.45% | -51.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.78% | 70.45% | -52.67% |
PDBC vs. BWET - Expense Ratio Comparison
PDBC has a 0.58% expense ratio, which is lower than BWET's 3.50% expense ratio.
Dividends
PDBC vs. BWET - Dividend Comparison
PDBC's dividend yield for the trailing twelve months is around 2.82%, while BWET has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BWET Breakwave Tanker Shipping ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 2.82% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
PDBC and BWET have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BWET has higher volatility (33.96%) compared to PDBC (6.20%). In terms of maximum drawdown, PDBC dropped -49.52% vs BWET's -56.90%.
On 3-year performance, BWET leads with 129.64% vs 14.42% for PDBC. On fees, PDBC is cheaper at 0.58% per year. On volatility, PDBC has been the lower-risk option at 6.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BWET has performed better with a 129.64% return vs 14.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PDBC is cheaper with a 0.58% expense ratio, compared with 3.50% for BWET.
PDBC has the higher dividend yield at 2.82%, compared with 0.00% for BWET.
They also come from different issuers: Invesco and Amplify. Their fees differ too: 0.58% for PDBC and 3.50% for BWET.
BWET currently has the higher Sharpe Ratio (18.57 vs 2.46), 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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