PDBC vs. ZSC

Last updated Jun 24, 2026

PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) and ZSC (USCF Sustainable Commodity Strategy Fund) are both Commodities funds. Both are actively managed. Over the past year, PDBC returned 25.24% vs 30.50% for ZSC. At a 0.25 correlation, their price movements are largely independent. PDBC charges 0.58%/yr vs 0.59%/yr for ZSC.

Performance

PDBC vs. ZSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) and USCF Sustainable Commodity Strategy Fund (ZSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDBC achieves a 22.11% return, which is significantly higher than ZSC's 5.64% 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%

ZSC

• 1D: -0.88%
• 1M: -4.02%
• YTD: 5.64%
• 6M: 6.63%
• 1Y: 30.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PDBC vs. ZSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	22.11%	5.96%	2.09%	-5.48%
ZSC USCF Sustainable Commodity Strategy Fund	5.64%	28.43%	-14.39%	-10.63%

Correlation

The correlation between PDBC and ZSC is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (All Time) Calculated using the full available price history since Aug 9, 2023	0.25

Return for Risk

PDBC vs. ZSC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PDBC

PDBC Risk / Return Rank: 40
PDBC Sharpe Ratio Rank: 40
PDBC Sortino Ratio Rank: 39
PDBC Omega Ratio Rank: 39
PDBC Calmar Ratio Rank: 37
PDBC Martin Ratio Rank: 47

ZSC

ZSC Risk / Return Rank: 78
ZSC Sharpe Ratio Rank: 82
ZSC Sortino Ratio Rank: 77
ZSC Omega Ratio Rank: 83
ZSC Calmar Ratio Rank: 82
ZSC Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PDBC vs. ZSC - 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 USCF Sustainable Commodity Strategy Fund (ZSC). 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	ZSC	Difference
Sharpe ratio: Return per unit of total volatility	1.38	2.40	-1.02
Sortino ratio: Return per unit of downside risk	1.92	3.15	-1.23
Omega ratio: Gain probability vs. loss probability	1.24	1.46	-0.21
Calmar ratio: Return relative to maximum drawdown	1.76	3.99	-2.23
Martin ratio: Return relative to average drawdown	7.71	11.17	-3.46

PDBC vs. ZSC - Sharpe Ratio Comparison

The current PDBC Sharpe Ratio is 1.38, which is lower than the ZSC Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of PDBC and ZSC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PDBC vs. ZSC - Drawdown Comparison

The maximum PDBC drawdown since its inception was -49.52%, which is greater than ZSC's maximum drawdown of -26.49%. Use the drawdown chart below to compare losses from any high point for PDBC and ZSC.

Drawdown Indicators

	PDBC	ZSC	Difference
Max Drawdown Largest peak-to-trough decline	-49.52%	-26.49%	-23.03%
Max Drawdown (1Y) Largest decline over 1 year	-14.44%	-7.69%	-6.75%
Max Drawdown (3Y) Largest decline over 3 years	-14.44%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.73%	—	—
Current Drawdown Current decline from peak	-14.44%	-6.12%	-8.32%
Average Drawdown Average peak-to-trough decline	-23.14%	-14.55%	-8.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	2.74%	+0.57%

Volatility

PDBC vs. ZSC - Volatility Comparison

Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a higher volatility of 4.42% compared to USCF Sustainable Commodity Strategy Fund (ZSC) at 3.16%. This indicates that PDBC's price experiences larger fluctuations and is considered to be riskier than ZSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDBC	ZSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	3.16%	+1.26%
Volatility (6M) Calculated over the trailing 6-month period	16.20%	9.45%	+6.75%
Volatility (1Y) Calculated over the trailing 1-year period	18.73%	12.78%	+5.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.15%	12.24%	+6.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.77%	12.24%	+5.53%

PDBC vs. ZSC - Expense Ratio Comparison

PDBC has a 0.58% expense ratio, which is lower than ZSC's 0.59% expense ratio.

Dividends

PDBC vs. ZSC - Dividend Comparison

PDBC's dividend yield for the trailing twelve months is around 3.14%, more than ZSC's 1.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	3.14%	3.84%	4.42%	4.21%	13.05%	50.83%	0.01%	1.40%	1.00%	3.83%	6.51%
ZSC USCF Sustainable Commodity Strategy Fund	1.65%	1.75%	2.18%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PDBC and ZSC in my portfolio?

PDBC and ZSC have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PDBC or ZSC?

PDBC has higher volatility (4.42%) compared to ZSC (3.16%). In terms of maximum drawdown, PDBC dropped -49.52% vs ZSC's -26.49%.

Which ETF is better, PDBC or ZSC?

On 1-year performance, ZSC leads with 30.50% vs 25.24% for PDBC. On fees, PDBC is cheaper at 0.58% per year. On volatility, ZSC has been the lower-risk option at 3.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PDBC or ZSC?

Over the 1-year period, ZSC has performed better with a 30.50% return vs 25.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PDBC or ZSC?

PDBC is cheaper with a 0.58% expense ratio, compared with 0.59% for ZSC.

Which ETF pays a higher dividend yield, PDBC or ZSC?

PDBC has the higher dividend yield at 3.14%, compared with 1.65% for ZSC.

What is the main difference between PDBC and ZSC?

They also come from different issuers: Invesco and USCF. Their fees differ too: 0.58% for PDBC and 0.59% for ZSC.

Which has better risk-adjusted returns?

ZSC currently has the higher Sharpe Ratio (2.40 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.