PDBC vs. COMT
PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both Commodities funds. PDBC is actively managed, while COMT is passively managed. Over the past 10 years, PDBC returned 7.71%/yr vs 8.06%/yr for COMT. Their correlation of 0.90 suggests significant overlap in exposure. PDBC charges 0.58%/yr vs 0.48%/yr for COMT.
Performance
PDBC vs. COMT - Performance Comparison
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Returns By Period
In the year-to-date period, PDBC achieves a 23.47% return, which is significantly lower than COMT's 25.05% return. Both investments have delivered pretty close results over the past 10 years, with PDBC having a 7.71% annualized return and COMT not far ahead at 8.06%.
PDBC
- 1D
- -0.85%
- 1M
- -10.11%
- YTD
- 23.47%
- 6M
- 23.29%
- 1Y
- 22.26%
- 3Y*
- 10.44%
- 5Y*
- 10.25%
- 10Y*
- 7.71%
COMT
- 1D
- -0.76%
- 1M
- -11.08%
- YTD
- 25.05%
- 6M
- 25.05%
- 1Y
- 21.95%
- 3Y*
- 12.36%
- 5Y*
- 11.04%
- 10Y*
- 8.06%
PDBC vs. COMT - 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 | 23.47% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 25.05% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
Correlation
The correlation between PDBC and COMT is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.90 |
The correlation between PDBC and COMT has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.
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Return for Risk
PDBC vs. COMT — Risk / Return Rank
PDBC
COMT
PDBC vs. COMT - 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 iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). 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 | COMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.19 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 1.49 | +0.17 |
| Martin ratioReturn relative to average drawdown | 7.01 | 6.26 | +0.75 |
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Drawdowns
PDBC vs. COMT - Drawdown Comparison
The maximum PDBC drawdown since its inception was -49.52%, roughly equal to the maximum COMT drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for PDBC and COMT.
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Drawdown Indicators
| PDBC | COMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -51.89% | +2.37% |
Max Drawdown (1Y)Largest decline over 1 year | -13.48% | -14.78% | +1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -13.95% | -14.78% | +0.83% |
Max Drawdown (5Y)Largest decline over 5 years | -27.63% | -29.00% | +1.37% |
Max Drawdown (10Y)Largest decline over 10 years | -40.73% | -39.22% | -1.51% |
Current DrawdownCurrent decline from peak | -13.48% | -14.78% | +1.30% |
Average DrawdownAverage peak-to-trough decline | -23.15% | -24.01% | +0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 4.16% | -0.12% |
Volatility
PDBC vs. COMT - Volatility Comparison
The current volatility for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is 4.38%, while iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) has a volatility of 5.01%. This indicates that PDBC experiences smaller price fluctuations and is considered to be less risky than COMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBC | COMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.38% | 5.01% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 16.17% | 19.22% | -3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.73% | 21.47% | -2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.15% | 21.12% | -1.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.78% | 18.89% | -1.11% |
PDBC vs. COMT - Expense Ratio Comparison
PDBC has a 0.58% expense ratio, which is higher than COMT's 0.48% expense ratio.
Dividends
PDBC vs. COMT - Dividend Comparison
PDBC's dividend yield for the trailing twelve months is around 3.11%, less than COMT's 6.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 6.19% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 3.11% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, PDBC and COMT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
COMT has higher volatility (5.01%) compared to PDBC (4.38%). In terms of maximum drawdown, PDBC dropped -49.52% vs COMT's -51.89%.
On 10-year performance, COMT leads with 8.06% vs 7.71% for PDBC. On fees, COMT is cheaper at 0.48% per year. On volatility, PDBC has been the lower-risk option at 4.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, COMT has performed better with a 8.06% return vs 7.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 0.58% for PDBC.
COMT has the higher dividend yield at 6.19%, compared with 3.11% for PDBC.
They also come from different issuers: Invesco and iShares. Their fees differ too: 0.58% for PDBC and 0.48% for COMT.
PDBC currently has the higher Sharpe Ratio (1.20 vs 1.03), 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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