PDBC vs. EVMT

Last updated Jun 24, 2026

PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) and EVMT (Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF) are both Commodities funds from Invesco. Both are actively managed. Over the past 3 years, PDBC returned 10.03%/yr vs 1.17%/yr for EVMT. At a 0.34 correlation, their price movements are largely independent. PDBC charges 0.58%/yr vs 0.59%/yr for EVMT.

Performance

PDBC vs. EVMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) and Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDBC achieves a 22.11% return, which is significantly higher than EVMT's 4.92% return.

PDBC

• 1D: -1.10%
• 1M: -11.10%
• YTD: 22.11%
• 6M: 20.75%
• 1Y: 25.24%
• 3Y*: 10.03%
• 5Y*: 9.92%
• 10Y*: 7.59%

EVMT

• 1D: -2.36%
• 1M: -7.56%
• YTD: 4.92%
• 6M: 9.06%
• 1Y: 31.03%
• 3Y*: 1.17%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PDBC vs. EVMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	22.11%	5.96%	2.09%	-6.25%	-8.14%
EVMT Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF	4.92%	30.61%	-10.50%	-27.71%	-16.95%

Correlation

The correlation between PDBC and EVMT is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Apr 26, 2022	0.34

Return for Risk

PDBC vs. EVMT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PDBC

PDBC Risk / Return Rank: 40
PDBC Sharpe Ratio Rank: 40
PDBC Sortino Ratio Rank: 39
PDBC Omega Ratio Rank: 39
PDBC Calmar Ratio Rank: 37
PDBC Martin Ratio Rank: 47

EVMT

EVMT Risk / Return Rank: 69
EVMT Sharpe Ratio Rank: 68
EVMT Sortino Ratio Rank: 66
EVMT Omega Ratio Rank: 68
EVMT Calmar Ratio Rank: 74
EVMT Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PDBC vs. EVMT - 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 Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT). 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	EVMT	Difference
Sharpe ratio: Return per unit of total volatility	1.38	2.01	-0.64
Sortino ratio: Return per unit of downside risk	1.92	2.75	-0.83
Omega ratio: Gain probability vs. loss probability	1.24	1.37	-0.12
Calmar ratio: Return relative to maximum drawdown	1.76	3.44	-1.69
Martin ratio: Return relative to average drawdown	7.71	11.60	-3.89

PDBC vs. EVMT - Sharpe Ratio Comparison

The current PDBC Sharpe Ratio is 1.38, which is lower than the EVMT Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of PDBC and EVMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PDBC vs. EVMT - Drawdown Comparison

The maximum PDBC drawdown since its inception was -49.52%, roughly equal to the maximum EVMT drawdown of -48.34%. Use the drawdown chart below to compare losses from any high point for PDBC and EVMT.

Drawdown Indicators

	PDBC	EVMT	Difference
Max Drawdown Largest peak-to-trough decline	-49.52%	-48.34%	-1.18%
Max Drawdown (1Y) Largest decline over 1 year	-14.44%	-9.05%	-5.39%
Max Drawdown (3Y) Largest decline over 3 years	-14.44%	-29.38%	+14.94%
Max Drawdown (5Y) Largest decline over 5 years	-27.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.73%	—	—
Current Drawdown Current decline from peak	-14.44%	-27.57%	+13.13%
Average Drawdown Average peak-to-trough decline	-23.14%	-34.58%	+11.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	2.68%	+0.63%

Volatility

PDBC vs. EVMT - Volatility Comparison

Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) and Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT) have volatilities of 4.42% and 4.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDBC	EVMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	4.40%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	16.20%	13.90%	+2.30%
Volatility (1Y) Calculated over the trailing 1-year period	18.73%	15.50%	+3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.15%	20.46%	-1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.77%	20.46%	-2.69%

PDBC vs. EVMT - Expense Ratio Comparison

PDBC has a 0.58% expense ratio, which is lower than EVMT's 0.59% expense ratio.

Dividends

PDBC vs. EVMT - Dividend Comparison

PDBC's dividend yield for the trailing twelve months is around 3.14%, less than EVMT's 11.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EVMT Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF	11.25%	11.80%	3.62%	5.49%	0.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	3.14%	3.84%	4.42%	4.21%	13.05%	50.83%	0.01%	1.40%	1.00%	3.83%	6.51%

Frequently Asked Questions

Can I hold both PDBC and EVMT in my portfolio?

PDBC and EVMT have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PDBC or EVMT?

PDBC has higher volatility (4.42%) compared to EVMT (4.40%). In terms of maximum drawdown, PDBC dropped -49.52% vs EVMT's -48.34%.

Which ETF is better, PDBC or EVMT?

On 3-year performance, PDBC leads with 10.03% vs 1.17% for EVMT. On fees, PDBC is cheaper at 0.58% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PDBC or EVMT?

Over the 3-year period, PDBC has performed better with a 10.03% return vs 1.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PDBC or EVMT?

PDBC is cheaper with a 0.58% expense ratio, compared with 0.59% for EVMT.

Which ETF pays a higher dividend yield, PDBC or EVMT?

EVMT has the higher dividend yield at 11.25%, compared with 3.14% for PDBC.

What is the main difference between PDBC and EVMT?

Their fees differ too: 0.58% for PDBC and 0.59% for EVMT.

Which has better risk-adjusted returns?

EVMT currently has the higher Sharpe Ratio (2.01 vs 1.38), 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.