PDBC vs. USOI
PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) and USOI (Credit Suisse X-Links Crude Oil Shares Covered Call ETN) are both Commodities funds. PDBC is actively managed, while USOI is passively managed. Over the past year, PDBC returned 45.46% vs 49.69% for USOI. Their correlation of 0.81 suggests significant overlap in exposure. PDBC charges 0.58%/yr vs 0.85%/yr for USOI.
Performance
PDBC vs. USOI - Performance Comparison
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Returns By Period
In the year-to-date period, PDBC achieves a 36.23% return, which is significantly lower than USOI's 50.53% 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%
USOI
- 1D
- 1.94%
- 1M
- 2.54%
- YTD
- 50.53%
- 6M
- 48.65%
- 1Y
- 49.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PDBC vs. USOI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 36.23% | 5.96% | -1.89% |
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 50.53% | -8.78% | 6.94% |
Correlation
The correlation between PDBC and USOI is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024 | 0.81 |
The correlation between PDBC and USOI has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.
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Return for Risk
PDBC vs. USOI — Risk / Return Rank
PDBC
USOI
PDBC vs. USOI - 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 Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI). 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 | USOI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.37 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 6.35 | 4.20 | +2.15 |
| Martin ratioReturn relative to average drawdown | 13.39 | 9.74 | +3.65 |
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 | USOI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 2.23 | +0.22 |
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 | 0.94 | -0.71 |
Drawdowns
PDBC vs. USOI - Drawdown Comparison
The maximum PDBC drawdown since its inception was -49.52%, which is greater than USOI's maximum drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for PDBC and USOI.
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Drawdown Indicators
| PDBC | USOI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -19.49% | -30.03% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -11.90% | +4.71% |
Max Drawdown (3Y)Largest decline over 3 years | -13.95% | — | — |
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% | -3.08% | -1.47% |
Average DrawdownAverage peak-to-trough decline | -23.21% | -7.21% | -16.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 5.12% | -1.71% |
Volatility
PDBC vs. USOI - Volatility Comparison
The current volatility for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is 6.20%, while Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI) has a volatility of 10.14%. This indicates that PDBC experiences smaller price fluctuations and is considered to be less risky than USOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBC | USOI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 10.14% | -3.94% |
Volatility (6M)Calculated over the trailing 6-month period | 15.78% | 18.25% | -2.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.61% | 22.35% | -3.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.12% | 22.59% | -3.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.78% | 22.59% | -4.81% |
PDBC vs. USOI - Expense Ratio Comparison
PDBC has a 0.58% expense ratio, which is lower than USOI's 0.85% expense ratio.
Dividends
PDBC vs. USOI - Dividend Comparison
PDBC's dividend yield for the trailing twelve months is around 2.82%, less than USOI's 36.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 2.82% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
USOI Credit Suisse X-Links Crude Oil Shares Covered Call ETN | 36.88% | 27.21% | 12.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PDBC and USOI have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USOI has higher volatility (10.14%) compared to PDBC (6.20%). In terms of maximum drawdown, PDBC dropped -49.52% vs USOI's -19.49%.
On 1-year performance, USOI leads with 49.69% vs 45.46% for PDBC. On fees, PDBC is cheaper at 0.58% 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 1-year period, USOI has performed better with a 49.69% return vs 45.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PDBC is cheaper with a 0.58% expense ratio, compared with 0.85% for USOI.
USOI has the higher dividend yield at 36.88%, compared with 2.82% for PDBC.
They also come from different issuers: Invesco and Credit Suisse. Their fees differ too: 0.58% for PDBC and 0.85% for USOI.
PDBC currently has the higher Sharpe Ratio (2.46 vs 2.23), 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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