PDN vs. COMT
PDN (Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both exchange-traded funds - PDN is a Foreign Small & Mid Cap Equities fund tracking the FTSE RAFI Developed x US Mid/Small, while COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index. Both are passively managed. Over the past 10 years, PDN returned 8.41%/yr vs 8.33%/yr for COMT. At a 0.35 correlation, their price movements are largely independent. PDN charges 0.49%/yr vs 0.48%/yr for COMT.
Performance
PDN vs. COMT - Performance Comparison
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Returns By Period
In the year-to-date period, PDN achieves a 8.59% return, which is significantly lower than COMT's 30.19% return. Both investments have delivered pretty close results over the past 10 years, with PDN having a 8.41% annualized return and COMT not far behind at 8.33%.
PDN
- 1D
- -0.64%
- 1M
- -2.38%
- 6M
- 4.64%
- YTD
- 8.59%
- 1Y
- 20.03%
- 3Y*
- 16.08%
- 5Y*
- 6.85%
- 10Y*
- 8.41%
COMT
- 1D
- -0.49%
- 1M
- 2.53%
- 6M
- 26.18%
- YTD
- 30.19%
- 1Y
- 33.20%
- 3Y*
- 12.71%
- 5Y*
- 11.75%
- 10Y*
- 8.33%
PDN vs. COMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PDN Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF | 8.59% | 38.34% | 0.57% | 13.35% | -17.35% | 9.03% | 10.65% | 19.17% | -18.38% | 30.74% |
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 30.19% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
Correlation
The correlation between PDN and COMT is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.35 |
The correlation between PDN and COMT shifts across timeframes, from -0.16 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PDN vs. COMT — Risk / Return Rank
PDN
COMT
PDN vs. COMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). 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.
| PDN | COMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.27 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 1.90 | -0.11 |
| Martin ratioReturn relative to average drawdown | 6.34 | 6.35 | 0.00 |
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Drawdowns
PDN vs. COMT - Drawdown Comparison
The maximum PDN drawdown since its inception was -59.32%, which is greater than COMT's maximum drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for PDN and COMT.
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Drawdown Indicators
| PDN | COMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.32% | -51.89% | -7.43% |
Max Drawdown (1Y)Largest decline over 1 year | -11.26% | -17.57% | +6.31% |
Max Drawdown (3Y)Largest decline over 3 years | -13.25% | -17.57% | +4.32% |
Max Drawdown (5Y)Largest decline over 5 years | -33.68% | -29.00% | -4.68% |
Max Drawdown (10Y)Largest decline over 10 years | -41.94% | -39.22% | -2.72% |
Current DrawdownCurrent decline from peak | -4.06% | -11.28% | +7.22% |
Average DrawdownAverage peak-to-trough decline | -11.54% | -23.95% | +12.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 5.24% | -2.07% |
Volatility
PDN vs. COMT - Volatility Comparison
The current volatility for Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) is 3.81%, while iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) has a volatility of 5.91%. This indicates that PDN experiences smaller price fluctuations and is considered to be less risky than COMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PDN | COMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.81% | 5.91% | -2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 13.26% | 19.67% | -6.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.35% | 21.54% | -6.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.47% | 21.20% | -4.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 18.85% | -1.95% |
PDN vs. COMT - Expense Ratio Comparison
PDN has a 0.49% expense ratio, which is higher than COMT's 0.48% expense ratio.
Dividends
PDN vs. COMT - Dividend Comparison
PDN's dividend yield for the trailing twelve months is around 3.28%, less than COMT's 5.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 5.95% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
PDN Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF | 3.28% | 3.36% | 3.36% | 3.16% | 2.68% | 2.42% | 1.79% | 2.60% | 2.21% | 2.42% | 2.16% | 2.06% |
Frequently Asked Questions
PDN and COMT have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COMT has higher volatility (5.91%) compared to PDN (3.81%). In terms of maximum drawdown, PDN dropped -59.32% vs COMT's -51.89%.
On 10-year performance, PDN leads with 8.41% vs 8.33% for COMT. On fees, COMT is cheaper at 0.48% per year. On volatility, PDN has been the lower-risk option at 3.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PDN has performed better with a 8.41% return vs 8.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 0.49% for PDN.
COMT has the higher dividend yield at 5.95%, compared with 3.28% for PDN.
PDN is categorized as Foreign Small & Mid Cap Equities, while COMT is Commodities. PDN tracks FTSE RAFI Developed x US Mid/Small, while COMT tracks S&P GSCI Dynamic Roll (USD) Total Return Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.49% for PDN and 0.48% for COMT.
COMT currently has the higher Sharpe Ratio (1.55 vs 1.31), 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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