PDBC vs. DJP
PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) and DJP (iPath Bloomberg Commodity Index Total Return ETN) are both Commodities funds. PDBC is actively managed, while DJP is passively managed. Over the past 10 years, PDBC returned 7.71%/yr vs 6.40%/yr for DJP. Their correlation of 0.86 suggests significant overlap in exposure. PDBC charges 0.58%/yr vs 0.70%/yr for DJP.
Performance
PDBC vs. DJP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PDBC achieves a 23.47% return, which is significantly higher than DJP's 18.90% return. Over the past 10 years, PDBC has outperformed DJP with an annualized return of 7.71%, while DJP has yielded a comparatively lower 6.40% annualized return.
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%
DJP
- 1D
- -0.64%
- 1M
- -9.66%
- YTD
- 18.90%
- 6M
- 18.62%
- 1Y
- 24.89%
- 3Y*
- 13.17%
- 5Y*
- 11.12%
- 10Y*
- 6.40%
PDBC vs. DJP - 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% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 18.90% | 17.20% | 5.59% | -9.85% | 17.46% | 31.05% | -4.12% | 7.63% | -13.07% | 0.74% |
Correlation
The correlation between PDBC and DJP is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.86 |
The correlation between PDBC and DJP has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PDBC vs. DJP — Risk / Return Rank
PDBC
DJP
PDBC vs. DJP - 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 iPath Bloomberg Commodity Index Total Return ETN (DJP). 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 | DJP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 1.87 | -0.21 |
| Martin ratioReturn relative to average drawdown | 7.01 | 6.85 | +0.16 |
Loading charts...
Drawdowns
PDBC vs. DJP - Drawdown Comparison
The maximum PDBC drawdown since its inception was -49.52%, smaller than the maximum DJP drawdown of -78.35%. Use the drawdown chart below to compare losses from any high point for PDBC and DJP.
Loading charts...
Drawdown Indicators
| PDBC | DJP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -78.35% | +28.83% |
Max Drawdown (1Y)Largest decline over 1 year | -13.48% | -13.40% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -13.95% | -13.41% | -0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -27.63% | -28.98% | +1.35% |
Max Drawdown (10Y)Largest decline over 10 years | -40.73% | -38.36% | -2.37% |
Current DrawdownCurrent decline from peak | -13.48% | -38.85% | +25.37% |
Average DrawdownAverage peak-to-trough decline | -23.15% | -50.82% | +27.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 4.00% | +0.04% |
Volatility
PDBC vs. DJP - Volatility Comparison
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a higher volatility of 4.38% compared to iPath Bloomberg Commodity Index Total Return ETN (DJP) at 4.14%. This indicates that PDBC's price experiences larger fluctuations and is considered to be riskier than DJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PDBC | DJP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.38% | 4.14% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 16.17% | 16.84% | -0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.73% | 19.22% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.15% | 18.94% | +0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.78% | 17.06% | +0.72% |
PDBC vs. DJP - Expense Ratio Comparison
PDBC has a 0.58% expense ratio, which is lower than DJP's 0.70% expense ratio.
Dividends
PDBC vs. DJP - Dividend Comparison
PDBC's dividend yield for the trailing twelve months is around 3.11%, while DJP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DJP iPath Bloomberg Commodity Index Total Return ETN | 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 | 3.11% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
With a correlation of 0.91, PDBC and DJP 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.
PDBC has higher volatility (4.38%) compared to DJP (4.14%). In terms of maximum drawdown, PDBC dropped -49.52% vs DJP's -78.35%.
On 10-year performance, PDBC leads with 7.71% vs 6.40% for DJP. On fees, PDBC is cheaper at 0.58% per year. On volatility, DJP has been the lower-risk option at 4.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PDBC has performed better with a 7.71% return vs 6.40%. 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 0.70% for DJP.
PDBC has the higher dividend yield at 3.11%, compared with 0.00% for DJP.
They also come from different issuers: Invesco and Barclays Capital. Their fees differ too: 0.58% for PDBC and 0.70% for DJP.
DJP currently has the higher Sharpe Ratio (1.30 vs 1.20), 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.
Find the right allocation for PDBC and DJP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer