PDBC vs. RSP
PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) and RSP (Invesco S&P 500 Equal Weight ETF) are both exchange-traded funds - PDBC is a Commodities fund actively managed by Invesco, while RSP is a S&P 500 fund tracking the S&P 500 Equal Weight Index. PDBC is actively managed, while RSP is passively managed. Over the past 10 years, PDBC returned 8.61%/yr vs 12.02%/yr for RSP. Their 0.27 correlation means their historical movements had little consistent relationship. PDBC charges 0.58%/yr vs 0.20%/yr for RSP.
Performance
PDBC vs. RSP - Performance Comparison
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Returns By Period
In the year-to-date period, PDBC achieves a 28.15% return, which is significantly higher than RSP's 15.64% return. Over the past 10 years, PDBC has underperformed RSP with an annualized return of 8.61%, while RSP has yielded a comparatively higher 12.02% annualized return.
PDBC
- 1D
- 0.47%
- 1M
- 5.47%
- 6M
- 18.25%
- YTD
- 28.15%
- 1Y
- 35.58%
- 3Y*
- 9.41%
- 5Y*
- 11.02%
- 10Y*
- 8.61%
- ALL TIME*
- 3.59%
RSP
- 1D
- -0.23%
- 1M
- 2.20%
- 6M
- 10.60%
- YTD
- 15.64%
- 1Y
- 21.88%
- 3Y*
- 15.10%
- 5Y*
- 9.16%
- 10Y*
- 12.02%
- ALL TIME*
- 11.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $121.86M | $152.61M | $122.20M | |
| $2.05B | $1.86B | $2.06B |
PDBC vs. RSP - 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 | 28.15% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
RSP Invesco S&P 500 Equal Weight ETF | 15.64% | 11.21% | 12.79% | 13.70% | -11.62% | 29.41% | 12.66% | 28.91% | -7.84% | 18.52% |
Correlation
The correlation between PDBC and RSP is -0.20, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.25 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.27 |
The correlation between PDBC and RSP shifts across timeframes, from -0.20 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PDBC vs. RSP — Risk / Return Rank
PDBC
RSP
PDBC vs. RSP - 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 S&P 500 Equal Weight ETF (RSP). 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 | RSP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.33 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 2.80 | -0.64 |
| Martin ratioReturn relative to average drawdown | 7.07 | 10.85 | -3.78 |
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Drawdowns
PDBC vs. RSP - Drawdown Comparison
The maximum PDBC drawdown since its inception was -49.52%, smaller than the maximum RSP drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for PDBC and RSP.
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Drawdown Indicators
| PDBC | RSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -59.92% | +10.40% |
Max Drawdown (1Y)Largest decline over 1 year | -16.55% | -7.85% | -8.70% |
Max Drawdown (3Y)Largest decline over 3 years | -16.55% | -17.81% | +1.26% |
Max Drawdown (5Y)Largest decline over 5 years | -27.63% | -21.38% | -6.25% |
Max Drawdown (10Y)Largest decline over 10 years | -40.73% | -39.04% | -1.69% |
Current DrawdownCurrent decline from peak | -10.21% | -0.23% | -9.98% |
Average DrawdownAverage peak-to-trough decline | -23.02% | -6.61% | -16.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.05% | 2.02% | +3.03% |
Volatility
PDBC vs. RSP - Volatility Comparison
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a higher volatility of 7.58% compared to Invesco S&P 500 Equal Weight ETF (RSP) at 3.27%. This indicates that PDBC's price experiences larger fluctuations and is considered to be riskier than RSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBC | RSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.58% | 3.27% | +4.31% |
Volatility (6M)Calculated over the trailing 6-month period | 16.65% | 8.72% | +7.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.73% | 11.72% | +8.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.28% | 16.17% | +3.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.85% | 18.29% | -0.44% |
PDBC vs. RSP - Expense Ratio Comparison
PDBC has a 0.58% expense ratio, which is higher than RSP's 0.20% expense ratio.
Dividends
PDBC vs. RSP - Dividend Comparison
PDBC's dividend yield for the trailing twelve months is around 3.00%, more than RSP's 1.46% 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 | 3.00% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% | 0.00% |
RSP Invesco S&P 500 Equal Weight ETF | 1.46% | 1.64% | 1.52% | 1.64% | 1.82% | 1.28% | 1.64% | 1.69% | 2.02% | 1.52% | 1.20% | 1.70% |
Frequently Asked Questions
PDBC and RSP have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (7.58%) compared to RSP (3.27%). In terms of maximum drawdown, PDBC dropped -49.52% vs RSP's -59.92%.
On 10-year performance, RSP leads with 12.02% vs 8.61% for PDBC. On fees, RSP is cheaper at 0.20% per year. On volatility, RSP has been the lower-risk option at 3.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RSP has performed better with a 12.02% return vs 8.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RSP is cheaper with a 0.20% expense ratio, compared with 0.58% for PDBC.
PDBC has the higher dividend yield at 3.00%, compared with 1.46% for RSP.
PDBC is categorized as Commodities, while RSP is S&P 500. Their fees differ too: 0.58% for PDBC and 0.20% for RSP.
RSP currently has the higher Sharpe Ratio (1.88 vs 1.81), 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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