PDBC vs. DBC
Compare and contrast key facts about Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) and Invesco DB Commodity Index Tracking Fund (DBC).
PDBC and DBC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PDBC is an actively managed fund by Invesco. It was launched on Nov 7, 2014. DBC is a passively managed fund by Invesco that tracks the performance of the DBIQ Optimum Yield Diversified Commodity Index Excess Return. It was launched on Feb 3, 2006.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PDBC or DBC.
Performance
PDBC vs. DBC - Performance Comparison
Returns By Period
The year-to-date returns for both stocks are quite close, with PDBC having a 2.48% return and DBC slightly lower at 2.36%. Both investments have delivered pretty close results over the past 10 years, with PDBC having a 1.35% annualized return and DBC not far behind at 1.34%.
PDBC
2.48%
-0.58%
-4.08%
-1.93%
9.25%
1.35%
DBC
2.36%
-0.44%
-4.08%
-2.11%
9.17%
1.34%
Key characteristics
| PDBC | DBC | |
|---|---|---|
| Sharpe Ratio | -0.14 | -0.15 |
| Sortino Ratio | -0.09 | -0.11 |
| Omega Ratio | 0.99 | 0.99 |
| Calmar Ratio | -0.07 | -0.04 |
| Martin Ratio | -0.37 | -0.41 |
| Ulcer Index | 5.19% | 5.12% |
| Daily Std Dev | 14.15% | 14.38% |
| Max Drawdown | -49.52% | -76.36% |
| Current Drawdown | -22.15% | -46.40% |
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PDBC vs. DBC - Expense Ratio Comparison
PDBC has a 0.58% expense ratio, which is lower than DBC's 0.85% expense ratio.
Correlation
The correlation between PDBC and DBC is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
PDBC vs. DBC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) and Invesco DB Commodity Index Tracking Fund (DBC). 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.
Dividends
PDBC vs. DBC - Dividend Comparison
PDBC's dividend yield for the trailing twelve months is around 4.11%, less than DBC's 4.83% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 4.11% | 4.21% | 13.04% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.50% |
DBC Invesco DB Commodity Index Tracking Fund | 4.83% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% | 0.00% |
Drawdowns
PDBC vs. DBC - Drawdown Comparison
The maximum PDBC drawdown since its inception was -49.52%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for PDBC and DBC. For additional features, visit the drawdowns tool.
Volatility
PDBC vs. DBC - Volatility Comparison
The current volatility for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is 4.85%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 5.41%. This indicates that PDBC experiences smaller price fluctuations and is considered to be less risky than DBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.