PDBC vs. GSG
Compare and contrast key facts about Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) and iShares S&P GSCI Commodity-Indexed Trust (GSG).
PDBC and GSG 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. GSG is a passively managed fund by iShares that tracks the performance of the S&P GSCI Total Return Index. It was launched on Jul 21, 2006.
Performance
PDBC vs. GSG - Performance Comparison
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PDBC vs. GSG - 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 | 30.72% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 39.85% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Returns By Period
In the year-to-date period, PDBC achieves a 30.72% return, which is significantly lower than GSG's 39.85% return. Over the past 10 years, PDBC has outperformed GSG with an annualized return of 9.86%, while GSG has yielded a comparatively lower 9.09% annualized return.
PDBC
- 1D
- -1.03%
- 1M
- 16.09%
- YTD
- 30.72%
- 6M
- 33.97%
- 1Y
- 32.00%
- 3Y*
- 11.28%
- 5Y*
- 14.29%
- 10Y*
- 9.86%
GSG
- 1D
- -1.01%
- 1M
- 24.23%
- YTD
- 39.85%
- 6M
- 40.40%
- 1Y
- 41.63%
- 3Y*
- 17.03%
- 5Y*
- 17.93%
- 10Y*
- 9.09%
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PDBC vs. GSG - Expense Ratio Comparison
PDBC has a 0.58% expense ratio, which is lower than GSG's 0.75% expense ratio.
Return for Risk
PDBC vs. GSG — Risk / Return Rank
PDBC
GSG
PDBC vs. GSG - 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 S&P GSCI Commodity-Indexed Trust (GSG). 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 | GSG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.72 | 1.98 | -0.26 |
Sortino ratioReturn per unit of downside risk | 2.31 | 2.66 | -0.36 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.36 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 3.04 | 3.70 | -0.66 |
Martin ratioReturn relative to average drawdown | 7.48 | 10.32 | -2.84 |
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 | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 1.98 | -0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | 0.82 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.42 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | -0.09 | +0.31 |
Correlation
The correlation between PDBC and GSG is 0.93, 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.
Dividends
PDBC vs. GSG - Dividend Comparison
PDBC's dividend yield for the trailing twelve months is around 2.94%, while GSG has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 2.94% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PDBC vs. GSG - Drawdown Comparison
The maximum PDBC drawdown since its inception was -49.52%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for PDBC and GSG.
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Drawdown Indicators
| PDBC | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -89.62% | +40.10% |
Max Drawdown (1Y)Largest decline over 1 year | -11.07% | -11.91% | +0.84% |
Max Drawdown (5Y)Largest decline over 5 years | -27.63% | -29.12% | +1.49% |
Max Drawdown (10Y)Largest decline over 10 years | -40.73% | -57.64% | +16.91% |
Current DrawdownCurrent decline from peak | -1.03% | -57.78% | +56.75% |
Average DrawdownAverage peak-to-trough decline | -23.53% | -63.77% | +40.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.50% | 4.27% | +0.23% |
Volatility
PDBC vs. GSG - Volatility Comparison
The current volatility for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is 8.15%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 11.08%. This indicates that PDBC experiences smaller price fluctuations and is considered to be less risky than GSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBC | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.15% | 11.08% | -2.93% |
Volatility (6M)Calculated over the trailing 6-month period | 13.88% | 16.24% | -2.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.72% | 21.16% | -2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 21.97% | -3.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.69% | 21.78% | -4.09% |