PDN vs. COMT

Last updated Jun 4, 2026

PDN (Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF) and COMT (iShares Commodities Select 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 actively managed by iShares. PDN is passively managed, while COMT is actively managed. Over the past 10 years, PDN returned 8.41%/yr vs 9.09%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) and iShares Commodities Select Strategy ETF (COMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDN achieves a 10.22% return, which is significantly lower than COMT's 39.67% return. Over the past 10 years, PDN has underperformed COMT with an annualized return of 8.41%, while COMT has yielded a comparatively higher 9.09% annualized return.

PDN

• 1D: -0.74%
• 1M: 0.91%
• YTD: 10.22%
• 6M: 12.61%
• 1Y: 27.72%
• 3Y*: 18.02%
• 5Y*: 6.42%
• 10Y*: 8.41%

COMT

• 1D: 0.78%
• 1M: -4.35%
• YTD: 39.67%
• 6M: 39.06%
• 1Y: 47.51%
• 3Y*: 16.86%
• 5Y*: 13.50%
• 10Y*: 9.09%

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

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	10.22%	38.34%	0.57%	13.35%	-17.35%	9.03%	10.65%	19.17%	-18.38%	30.74%
COMT iShares Commodities Select Strategy ETF	39.67%	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 -0.21, 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	-0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Oct 17, 2014	0.35

The correlation between PDN and COMT shifts across timeframes, from -0.21 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.

PDN vs. COMT - Sectors Allocation Comparison

Sectors	PDN	COMT
Industrials	22.4%	-
Financial Services	11.4%	100.0%
Consumer Cyclical	11.1%	-
Technology	10.3%	-
Basic Materials	10.0%	-
Real Estate	8.6%	-
Healthcare	5.4%	-
Energy	5.1%	-
Consumer Defensive	4.7%	-
Communication Services	3.3%	-
Utilities	2.4%	-

Return for Risk

PDN vs. COMT — Risk / Return Rank

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

PDN

PDN Risk / Return Rank: 55
PDN Sharpe Ratio Rank: 56
PDN Sortino Ratio Rank: 56
PDN Omega Ratio Rank: 56
PDN Calmar Ratio Rank: 50
PDN Martin Ratio Rank: 56

COMT

COMT Risk / Return Rank: 71
COMT Sharpe Ratio Rank: 66
COMT Sortino Ratio Rank: 60
COMT Omega Ratio Rank: 64
COMT Calmar Ratio Rank: 91
COMT Martin Ratio Rank: 73

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.

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 Commodities Select 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.

	PDN	COMT	Difference
Sharpe ratio Return per unit of total volatility	1.91	2.24	-0.33
Sortino ratio Return per unit of downside risk	2.68	2.88	-0.20
Omega ratio Gain probability vs. loss probability	1.35	1.40	-0.05
Calmar ratio Return relative to maximum drawdown	2.47	5.95	-3.48
Martin ratio Return relative to average drawdown	9.64	14.11	-4.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PDN vs. COMT - Sharpe Ratio Comparison

The current PDN Sharpe Ratio is 1.91, which is comparable to the COMT Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of PDN and COMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PDN	COMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	2.24	-0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.64	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.48	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.20	+0.07

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.

Drawdown Indicators

	PDN	COMT	Difference
Max Drawdown Largest peak-to-trough decline	-59.32%	-51.89%	-7.43%
Max Drawdown (1Y) Largest decline over 1 year	-11.26%	-8.02%	-3.24%
Max Drawdown (3Y) Largest decline over 3 years	-13.25%	-13.31%	+0.06%
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 Drawdown Current decline from peak	-2.62%	-4.82%	+2.20%
Average Drawdown Average peak-to-trough decline	-11.59%	-24.07%	+12.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	3.38%	-0.50%

Volatility

PDN vs. COMT - Volatility Comparison

The current volatility for Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) is 4.74%, while iShares Commodities Select Strategy ETF (COMT) has a volatility of 7.37%. 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.

Volatility by Period

	PDN	COMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	7.37%	-2.63%
Volatility (6M) Calculated over the trailing 6-month period	12.11%	18.80%	-6.69%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	21.29%	-6.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.34%	21.06%	-4.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.06%	18.89%	-1.83%

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 3.08%, less than COMT's 5.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COMT iShares Commodities Select Strategy ETF	5.54%	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	3.08%	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

Can I hold both PDN and COMT in my portfolio?

PDN and COMT have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PDN or COMT?

COMT has higher volatility (7.37%) compared to PDN (4.74%). In terms of maximum drawdown, PDN dropped -59.32% vs COMT's -51.89%.

Which ETF is better, PDN or COMT?

On 10-year performance, COMT leads with 9.09% vs 8.41% for PDN. On fees, COMT is cheaper at 0.48% per year. On volatility, PDN has been the lower-risk option at 4.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PDN or COMT?

Over the 10-year period, COMT has performed better with a 9.09% return vs 8.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PDN or COMT?

COMT is cheaper with a 0.48% expense ratio, compared with 0.49% for PDN.

Which ETF pays a higher dividend yield, PDN or COMT?

COMT has the higher dividend yield at 5.54%, compared with 3.08% for PDN.

What is the main difference between PDN and COMT?

PDN is categorized as Foreign Small & Mid Cap Equities, while COMT is Commodities. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.49% for PDN and 0.48% for COMT.

Which has better risk-adjusted returns?

COMT currently has the higher Sharpe Ratio (2.24 vs 1.91), 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.