PDBC vs. ISCMF
PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both Commodities funds. PDBC is actively managed, while ISCMF is passively managed. Over the past 3 years, PDBC returned 14.42%/yr vs 15.20%/yr for ISCMF. At a 0.10 correlation, their price movements are largely independent. PDBC charges 0.58%/yr vs 0.19%/yr for ISCMF.
Performance
PDBC vs. ISCMF - Performance Comparison
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Returns By Period
In the year-to-date period, PDBC achieves a 36.23% return, which is significantly higher than ISCMF's 22.87% return.
PDBC
- 1D
- 0.39%
- 1M
- -3.37%
- YTD
- 36.23%
- 6M
- 36.27%
- 1Y
- 45.46%
- 3Y*
- 14.42%
- 5Y*
- 12.39%
- 10Y*
- 8.79%
ISCMF
- 1D
- 0.00%
- 1M
- -0.67%
- YTD
- 22.87%
- 6M
- 27.76%
- 1Y
- 37.85%
- 3Y*
- 15.20%
- 5Y*
- —
- 10Y*
- —
PDBC vs. ISCMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 36.23% | 5.96% | 2.09% | -6.25% | -3.15% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 22.87% | 19.65% | 3.13% | -9.58% | -5.08% |
Correlation
The correlation between PDBC and ISCMF is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022 | 0.10 |
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Return for Risk
PDBC vs. ISCMF — Risk / Return Rank
PDBC
ISCMF
PDBC vs. ISCMF - 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 Diversified Commodity Swap UCITS ETF (ISCMF). 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 | ISCMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 2.53 | -1.10 |
| Calmar ratioReturn relative to maximum drawdown | 6.35 | 6.69 | -0.34 |
| Martin ratioReturn relative to average drawdown | 13.39 | 15.68 | -2.29 |
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 | ISCMF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 2.05 | +0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.45 | -0.22 |
Drawdowns
PDBC vs. ISCMF - Drawdown Comparison
The maximum PDBC drawdown since its inception was -49.52%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for PDBC and ISCMF.
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Drawdown Indicators
| PDBC | ISCMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -25.42% | -24.10% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -5.69% | -1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -13.95% | -7.62% | -6.33% |
Max Drawdown (5Y)Largest decline over 5 years | -27.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.73% | — | — |
Current DrawdownCurrent decline from peak | -4.55% | -5.26% | +0.71% |
Average DrawdownAverage peak-to-trough decline | -23.21% | -13.43% | -9.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 2.42% | +0.99% |
Volatility
PDBC vs. ISCMF - Volatility Comparison
The current volatility for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is 6.20%, while iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a volatility of 7.14%. This indicates that PDBC experiences smaller price fluctuations and is considered to be less risky than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBC | ISCMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 7.14% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 15.78% | 15.90% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.61% | 18.53% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.12% | 14.38% | +4.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.78% | 14.38% | +3.40% |
PDBC vs. ISCMF - Expense Ratio Comparison
PDBC has a 0.58% expense ratio, which is higher than ISCMF's 0.19% expense ratio.
Dividends
PDBC vs. ISCMF - Dividend Comparison
PDBC's dividend yield for the trailing twelve months is around 2.82%, while ISCMF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ISCMF iShares Diversified Commodity Swap UCITS ETF | 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 | 2.82% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
Frequently Asked Questions
PDBC and ISCMF have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISCMF has higher volatility (7.14%) compared to PDBC (6.20%). In terms of maximum drawdown, PDBC dropped -49.52% vs ISCMF's -25.42%.
On 3-year performance, ISCMF leads with 15.20% vs 14.42% for PDBC. On fees, ISCMF is cheaper at 0.19% per year. On volatility, PDBC has been the lower-risk option at 6.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ISCMF has performed better with a 15.20% return vs 14.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISCMF is cheaper with a 0.19% expense ratio, compared with 0.58% for PDBC.
PDBC has the higher dividend yield at 2.82%, compared with 0.00% for ISCMF.
They also come from different issuers: Invesco and iShares. Their fees differ too: 0.58% for PDBC and 0.19% for ISCMF.
PDBC currently has the higher Sharpe Ratio (2.46 vs 2.05), 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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