PDBC vs. QQQM
PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) and QQQM (Invesco NASDAQ 100 ETF) are both exchange-traded funds - PDBC is a Commodities fund actively managed by Invesco, while QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index. PDBC is actively managed, while QQQM is passively managed. Over the past 5 years, PDBC returned 10.81%/yr vs 15.18%/yr for QQQM. At a 0.11 correlation, their price movements are largely independent. PDBC charges 0.58%/yr vs 0.15%/yr for QQQM.
Performance
PDBC vs. QQQM - Performance Comparison
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Returns By Period
In the year-to-date period, PDBC achieves a 27.55% return, which is significantly higher than QQQM's 16.16% return.
PDBC
- 1D
- 2.80%
- 1M
- -0.94%
- 6M
- 22.82%
- YTD
- 27.55%
- 1Y
- 30.72%
- 3Y*
- 10.42%
- 5Y*
- 10.81%
- 10Y*
- 8.14%
QQQM
- 1D
- -1.89%
- 1M
- -1.22%
- 6M
- 13.77%
- YTD
- 16.16%
- 1Y
- 29.11%
- 3Y*
- 24.16%
- 5Y*
- 15.18%
- 10Y*
- —
PDBC vs. QQQM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 27.55% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | 10.67% |
QQQM Invesco NASDAQ 100 ETF | 16.16% | 20.85% | 25.68% | 55.01% | -32.52% | 27.45% | 6.64% |
Correlation
The correlation between PDBC and QQQM is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020 | 0.11 |
The correlation between PDBC and QQQM shifts across timeframes, from -0.07 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PDBC vs. QQQM — Risk / Return Rank
PDBC
QQQM
PDBC vs. QQQM - 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 NASDAQ 100 ETF (QQQM). 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 | QQQM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.28 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 2.44 | -0.58 |
| Martin ratioReturn relative to average drawdown | 6.57 | 8.75 | -2.17 |
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Drawdowns
PDBC vs. QQQM - Drawdown Comparison
The maximum PDBC drawdown since its inception was -49.52%, which is greater than QQQM's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for PDBC and QQQM.
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Drawdown Indicators
| PDBC | QQQM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -35.04% | -14.48% |
Max Drawdown (1Y)Largest decline over 1 year | -16.55% | -11.96% | -4.59% |
Max Drawdown (3Y)Largest decline over 3 years | -16.55% | -22.70% | +6.15% |
Max Drawdown (5Y)Largest decline over 5 years | -27.63% | -35.04% | +7.41% |
Max Drawdown (10Y)Largest decline over 10 years | -40.73% | — | — |
Current DrawdownCurrent decline from peak | -10.63% | -4.50% | -6.13% |
Average DrawdownAverage peak-to-trough decline | -23.11% | -8.16% | -14.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.69% | 3.34% | +1.35% |
Volatility
PDBC vs. QQQM - Volatility Comparison
The current volatility for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is 6.25%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 8.48%. This indicates that PDBC experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBC | QQQM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 8.48% | -2.23% |
Volatility (6M)Calculated over the trailing 6-month period | 16.77% | 15.23% | +1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.90% | 18.46% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.24% | 22.64% | -3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.76% | 22.31% | -4.55% |
PDBC vs. QQQM - Expense Ratio Comparison
PDBC has a 0.58% expense ratio, which is higher than QQQM's 0.15% expense ratio.
Dividends
PDBC vs. QQQM - Dividend Comparison
PDBC's dividend yield for the trailing twelve months is around 3.01%, more than QQQM's 0.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 3.01% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
QQQM Invesco NASDAQ 100 ETF | 0.45% | 0.50% | 0.61% | 0.65% | 0.83% | 0.40% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PDBC and QQQM have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQM has higher volatility (8.48%) compared to PDBC (6.25%). In terms of maximum drawdown, PDBC dropped -49.52% vs QQQM's -35.04%.
On 5-year performance, QQQM leads with 15.18% vs 10.81% for PDBC. On fees, QQQM is cheaper at 0.15% per year. On volatility, PDBC has been the lower-risk option at 6.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QQQM has performed better with a 15.18% return vs 10.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQM is cheaper with a 0.15% expense ratio, compared with 0.58% for PDBC.
PDBC has the higher dividend yield at 3.01%, compared with 0.45% for QQQM.
PDBC is categorized as Commodities, while QQQM is Nasdaq-100. Their fees differ too: 0.58% for PDBC and 0.15% for QQQM.
PDBC currently has the higher Sharpe Ratio (1.64 vs 1.59), 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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