PDBC vs. VNQ
PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) and VNQ (Vanguard Real Estate ETF) are both exchange-traded funds - PDBC is a Commodities fund actively managed by Invesco, while VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index. PDBC is actively managed, while VNQ is passively managed. Over the past 10 years, PDBC returned 7.99%/yr vs 5.65%/yr for VNQ. At a 0.11 correlation, their price movements are largely independent. PDBC charges 0.58%/yr vs 0.13%/yr for VNQ.
Performance
PDBC vs. VNQ - Performance Comparison
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Returns By Period
In the year-to-date period, PDBC achieves a 28.75% return, which is significantly higher than VNQ's 12.51% return. Over the past 10 years, PDBC has outperformed VNQ with an annualized return of 7.99%, while VNQ has yielded a comparatively lower 5.65% annualized return.
PDBC
- 1D
- -1.04%
- 1M
- -8.77%
- YTD
- 28.75%
- 6M
- 30.02%
- 1Y
- 34.56%
- 3Y*
- 12.43%
- 5Y*
- 10.98%
- 10Y*
- 7.99%
VNQ
- 1D
- 0.92%
- 1M
- 2.73%
- YTD
- 12.51%
- 6M
- 12.32%
- 1Y
- 12.92%
- 3Y*
- 10.14%
- 5Y*
- 2.55%
- 10Y*
- 5.65%
PDBC vs. VNQ - 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 | 28.75% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
VNQ Vanguard Real Estate ETF | 12.51% | 3.24% | 4.81% | 11.85% | -26.25% | 40.54% | -4.61% | 28.91% | -6.03% | 4.90% |
Correlation
The correlation between PDBC and VNQ is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.11 |
The correlation between PDBC and VNQ shifts across timeframes, from -0.14 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PDBC vs. VNQ — Risk / Return Rank
PDBC
VNQ
PDBC vs. VNQ - 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 Vanguard Real Estate ETF (VNQ). 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 | VNQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.17 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 1.56 | +1.99 |
| Martin ratioReturn relative to average drawdown | 9.49 | 4.90 | +4.59 |
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Drawdowns
PDBC vs. VNQ - Drawdown Comparison
The maximum PDBC drawdown since its inception was -49.52%, smaller than the maximum VNQ drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for PDBC and VNQ.
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Drawdown Indicators
| PDBC | VNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -73.07% | +23.55% |
Max Drawdown (1Y)Largest decline over 1 year | -9.78% | -8.34% | -1.44% |
Max Drawdown (3Y)Largest decline over 3 years | -13.95% | -17.46% | +3.51% |
Max Drawdown (5Y)Largest decline over 5 years | -27.63% | -34.48% | +6.85% |
Max Drawdown (10Y)Largest decline over 10 years | -40.73% | -42.40% | +1.67% |
Current DrawdownCurrent decline from peak | -9.78% | 0.00% | -9.78% |
Average DrawdownAverage peak-to-trough decline | -23.16% | -13.61% | -9.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.65% | 2.65% | +1.00% |
Volatility
PDBC vs. VNQ - Volatility Comparison
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) and Vanguard Real Estate ETF (VNQ) have volatilities of 4.91% and 4.72%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDBC | VNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.91% | 4.72% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 16.12% | 9.77% | +6.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.85% | 13.54% | +5.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.16% | 18.84% | +0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.79% | 20.72% | -2.93% |
PDBC vs. VNQ - Expense Ratio Comparison
PDBC has a 0.58% expense ratio, which is higher than VNQ's 0.13% expense ratio.
Dividends
PDBC vs. VNQ - Dividend Comparison
PDBC's dividend yield for the trailing twelve months is around 2.98%, less than VNQ's 3.54% 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 | 2.98% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% | 0.00% |
VNQ Vanguard Real Estate ETF | 3.54% | 3.92% | 3.85% | 3.95% | 3.91% | 2.56% | 3.93% | 3.39% | 4.74% | 4.23% | 4.82% | 3.92% |
Frequently Asked Questions
PDBC and VNQ have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (4.91%) compared to VNQ (4.72%). In terms of maximum drawdown, PDBC dropped -49.52% vs VNQ's -73.07%.
On 10-year performance, PDBC leads with 7.99% vs 5.65% for VNQ. On fees, VNQ is cheaper at 0.13% per year. On volatility, VNQ has been the lower-risk option at 4.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PDBC has performed better with a 7.99% return vs 5.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VNQ is cheaper with a 0.13% expense ratio, compared with 0.58% for PDBC.
VNQ has the higher dividend yield at 3.54%, compared with 2.98% for PDBC.
PDBC is categorized as Commodities, while VNQ is REIT. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.58% for PDBC and 0.13% for VNQ.
PDBC currently has the higher Sharpe Ratio (1.84 vs 0.96), 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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