PDBC vs. PIT

Last updated Jul 12, 2026

PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) and PIT (VanEck Commodity Strategy ETF) are both Commodities funds. Both are actively managed. Over the past 3 years, PDBC returned 9.96%/yr vs 19.03%/yr for PIT. Their correlation of 0.94 suggests significant overlap in exposure. PDBC charges 0.58%/yr vs 0.55%/yr for PIT.

Performance

PDBC vs. PIT - 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 VanEck Commodity Strategy ETF (PIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDBC achieves a 24.08% return, which is significantly lower than PIT's 29.50% return.

PDBC

• 1D: 0.12%
• 1M: -4.64%
• 6M: 21.24%
• YTD: 24.08%
• 1Y: 27.16%
• 3Y*: 9.96%
• 5Y*: 10.22%
• 10Y*: 7.69%

PIT

• 1D: -0.32%
• 1M: -3.23%
• 6M: 25.36%
• YTD: 29.50%
• 1Y: 40.55%
• 3Y*: 19.03%
• 5Y*: —
• 10Y*: —

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

PDBC vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	24.08%	5.96%	2.09%	-6.25%	1.30%
PIT VanEck Commodity Strategy ETF	29.50%	21.63%	6.77%	-4.54%	1.67%

Correlation

The correlation between PDBC and PIT is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	0.94

The correlation between PDBC and PIT has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

PDBC vs. PIT — Risk / Return Rank

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

PDBC

PDBC Risk / Return Rank: 51
PDBC Sharpe Ratio Rank: 57
PDBC Sortino Ratio Rank: 54
PDBC Omega Ratio Rank: 53
PDBC Calmar Ratio Rank: 43
PDBC Martin Ratio Rank: 47

PIT

PIT Risk / Return Rank: 69
PIT Sharpe Ratio Rank: 77
PIT Sortino Ratio Rank: 69
PIT Omega Ratio Rank: 73
PIT Calmar Ratio Rank: 62
PIT Martin Ratio Rank: 61

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. PIT - 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 VanEck Commodity Strategy ETF (PIT). 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	PIT	Difference
Sharpe ratio: Return per unit of total volatility	1.55	1.95	-0.40
Sortino ratio: Return per unit of downside risk	2.13	2.52	-0.39
Omega ratio: Gain probability vs. loss probability	1.27	1.34	-0.07
Calmar ratio: Return relative to maximum drawdown	1.75	2.48	-0.72
Martin ratio: Return relative to average drawdown	6.25	8.70	-2.46

PDBC vs. PIT - Sharpe Ratio Comparison

The current PDBC Sharpe Ratio is 1.55, which is comparable to the PIT Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of PDBC and PIT, 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. PIT - Drawdown Comparison

The maximum PDBC drawdown since its inception was -49.52%, which is greater than PIT's maximum drawdown of -17.20%. Use the drawdown chart below to compare losses from any high point for PDBC and PIT.

Drawdown Indicators

	PDBC	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-49.52%	-17.20%	-32.32%
Max Drawdown (1Y) Largest decline over 1 year	-16.55%	-17.20%	+0.65%
Max Drawdown (3Y) Largest decline over 3 years	-16.55%	-17.20%	+0.65%
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	-13.06%	-12.57%	-0.49%
Average Drawdown Average peak-to-trough decline	-23.11%	-4.23%	-18.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.64%	4.88%	-0.24%

Volatility

PDBC vs. PIT - Volatility Comparison

The current volatility for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is 5.48%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 5.78%. This indicates that PDBC experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDBC	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	5.78%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	16.59%	19.58%	-2.99%
Volatility (1Y) Calculated over the trailing 1-year period	18.72%	21.84%	-3.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.19%	17.58%	+1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.75%	17.58%	+0.17%

PDBC vs. PIT - Expense Ratio Comparison

PDBC has a 0.58% expense ratio, which is higher than PIT's 0.55% expense ratio.

Dividends

PDBC vs. PIT - Dividend Comparison

PDBC's dividend yield for the trailing twelve months is around 3.09%, less than PIT's 6.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	3.09%	3.84%	4.42%	4.21%	13.05%	50.83%	0.01%	1.40%	1.00%	3.83%	6.51%
PIT VanEck Commodity Strategy ETF	6.88%	8.92%	3.59%	6.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PDBC and PIT in my portfolio?

With a correlation of 0.95, PDBC and PIT 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.

Which is riskier, PDBC or PIT?

PIT has higher volatility (5.78%) compared to PDBC (5.48%). In terms of maximum drawdown, PDBC dropped -49.52% vs PIT's -17.20%.

Which ETF is better, PDBC or PIT?

On 3-year performance, PIT leads with 19.03% vs 9.96% for PDBC. On fees, PIT is cheaper at 0.55% per year. On volatility, PDBC has been the lower-risk option at 5.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PDBC or PIT?

Over the 3-year period, PIT has performed better with a 19.03% return vs 9.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PDBC or PIT?

PIT is cheaper with a 0.55% expense ratio, compared with 0.58% for PDBC.

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

PIT has the higher dividend yield at 6.88%, compared with 3.09% for PDBC.

What is the main difference between PDBC and PIT?

They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.58% for PDBC and 0.55% for PIT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.95 vs 1.55), 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.