PDBC vs. QQQ
PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - PDBC is a Commodities fund actively managed by Invesco, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. PDBC is actively managed, while QQQ is passively managed. Over the past 10 years, PDBC returned 7.59%/yr vs 22.07%/yr for QQQ. At a 0.18 correlation, their price movements are largely independent. PDBC charges 0.58%/yr vs 0.18%/yr for QQQ.
Performance
PDBC vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, PDBC achieves a 22.11% return, which is significantly higher than QQQ's 16.45% return. Over the past 10 years, PDBC has underperformed QQQ with an annualized return of 7.59%, while QQQ has yielded a comparatively higher 22.07% annualized 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%
QQQ
- 1D
- -3.29%
- 1M
- -0.43%
- YTD
- 16.45%
- 6M
- 14.99%
- 1Y
- 34.88%
- 3Y*
- 26.05%
- 5Y*
- 16.01%
- 10Y*
- 22.07%
PDBC vs. QQQ - 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 | 22.11% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
QQQ Invesco QQQ ETF | 16.45% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
Correlation
The correlation between PDBC and QQQ is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.18 |
The correlation between PDBC and QQQ shifts across timeframes, from -0.08 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PDBC vs. QQQ — Risk / Return Rank
PDBC
QQQ
PDBC vs. QQQ - 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 QQQ ETF (QQQ). 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 | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.35 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 2.93 | -1.17 |
| Martin ratioReturn relative to average drawdown | 7.71 | 10.86 | -3.16 |
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Drawdowns
PDBC vs. QQQ - Drawdown Comparison
The maximum PDBC drawdown since its inception was -49.52%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for PDBC and QQQ.
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Drawdown Indicators
| PDBC | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -82.97% | +33.45% |
Max Drawdown (1Y)Largest decline over 1 year | -14.44% | -11.96% | -2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -14.44% | -22.77% | +8.33% |
Max Drawdown (5Y)Largest decline over 5 years | -27.63% | -35.12% | +7.49% |
Max Drawdown (10Y)Largest decline over 10 years | -40.73% | -35.12% | -5.61% |
Current DrawdownCurrent decline from peak | -14.44% | -4.25% | -10.19% |
Average DrawdownAverage peak-to-trough decline | -23.14% | -32.73% | +9.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 3.22% | +0.09% |
Volatility
PDBC vs. QQQ - Volatility Comparison
The current volatility for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is 4.42%, while Invesco QQQ ETF (QQQ) has a volatility of 9.17%. This indicates that PDBC experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBC | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 9.17% | -4.75% |
Volatility (6M)Calculated over the trailing 6-month period | 16.20% | 14.57% | +1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.73% | 17.96% | +0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.15% | 22.69% | -3.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.77% | 22.42% | -4.65% |
PDBC vs. QQQ - Expense Ratio Comparison
PDBC has a 0.58% expense ratio, which is higher than QQQ's 0.18% expense ratio.
Dividends
PDBC vs. QQQ - Dividend Comparison
PDBC's dividend yield for the trailing twelve months is around 3.14%, more than QQQ's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
QQQ Invesco QQQ ETF | 0.43% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Frequently Asked Questions
PDBC and QQQ have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQ has higher volatility (9.17%) compared to PDBC (4.42%). In terms of maximum drawdown, PDBC dropped -49.52% vs QQQ's -82.97%.
On 10-year performance, QQQ leads with 22.07% vs 7.59% for PDBC. On fees, QQQ is cheaper at 0.18% per year. On volatility, PDBC has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QQQ has performed better with a 22.07% return vs 7.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQ is cheaper with a 0.18% expense ratio, compared with 0.58% for PDBC.
PDBC has the higher dividend yield at 3.14%, compared with 0.43% for QQQ.
PDBC is categorized as Commodities, while QQQ is Nasdaq-100. Their fees differ too: 0.58% for PDBC and 0.18% for QQQ.
QQQ currently has the higher Sharpe Ratio (1.95 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.
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