PIT vs. PDBC

Last updated Jun 24, 2026

PIT (VanEck Commodity Strategy ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both Commodities funds. Both are actively managed. Over the past 3 years, PIT returned 18.98%/yr vs 10.03%/yr for PDBC. Their correlation of 0.94 suggests significant overlap in exposure. PIT charges 0.55%/yr vs 0.58%/yr for PDBC.

Performance

PIT vs. PDBC - Performance Comparison

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

Returns By Period

In the year-to-date period, PIT achieves a 25.62% return, which is significantly higher than PDBC's 22.11% return.

PIT

• 1D: -1.32%
• 1M: -11.78%
• YTD: 25.62%
• 6M: 23.58%
• 1Y: 39.64%
• 3Y*: 18.98%
• 5Y*: —
• 10Y*: —

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%

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

PIT vs. PDBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PIT VanEck Commodity Strategy ETF	25.62%	21.63%	6.77%	-4.54%	1.67%
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	22.11%	5.96%	2.09%	-6.25%	1.30%

Correlation

The correlation between PIT and PDBC is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	0.94

The correlation between PIT and PDBC has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.

Return for Risk

PIT vs. PDBC — Risk / Return Rank

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

PIT

PIT Risk / Return Rank: 57
PIT Sharpe Ratio Rank: 59
PIT Sortino Ratio Rank: 52
PIT Omega Ratio Rank: 56
PIT Calmar Ratio Rank: 56
PIT Martin Ratio Rank: 63

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

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.

PIT vs. PDBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Commodity Strategy ETF (PIT) and Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC). 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.

	PIT	PDBC	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.38	+0.47
Sortino ratio: Return per unit of downside risk	2.40	1.92	+0.48
Omega ratio: Gain probability vs. loss probability	1.33	1.24	+0.09
Calmar ratio: Return relative to maximum drawdown	2.62	1.76	+0.87
Martin ratio: Return relative to average drawdown	10.88	7.71	+3.18

PIT vs. PDBC - Sharpe Ratio Comparison

The current PIT Sharpe Ratio is 1.85, which is higher than the PDBC Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of PIT and PDBC, 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

PIT vs. PDBC - Drawdown Comparison

The maximum PIT drawdown since its inception was -15.19%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for PIT and PDBC.

Drawdown Indicators

	PIT	PDBC	Difference
Max Drawdown Largest peak-to-trough decline	-15.19%	-49.52%	+34.33%
Max Drawdown (1Y) Largest decline over 1 year	-15.19%	-14.44%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-15.19%	-14.44%	-0.75%
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	-15.19%	-14.44%	-0.75%
Average Drawdown Average peak-to-trough decline	-4.08%	-23.14%	+19.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.66%	3.31%	+0.35%

Volatility

PIT vs. PDBC - Volatility Comparison

VanEck Commodity Strategy ETF (PIT) has a higher volatility of 4.72% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 4.42%. This indicates that PIT's price experiences larger fluctuations and is considered to be riskier than PDBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIT	PDBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	4.42%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	19.40%	16.20%	+3.20%
Volatility (1Y) Calculated over the trailing 1-year period	21.66%	18.73%	+2.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.50%	19.15%	-1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	17.77%	-0.27%

PIT vs. PDBC - Expense Ratio Comparison

PIT has a 0.55% expense ratio, which is lower than PDBC's 0.58% expense ratio.

Dividends

PIT vs. PDBC - Dividend Comparison

PIT's dividend yield for the trailing twelve months is around 7.10%, more than PDBC's 3.14% 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%
PIT VanEck Commodity Strategy ETF	7.10%	8.92%	3.59%	6.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PIT and PDBC in my portfolio?

With a correlation of 0.94, PIT and PDBC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PIT or PDBC?

PIT has higher volatility (4.72%) compared to PDBC (4.42%). In terms of maximum drawdown, PIT dropped -15.19% vs PDBC's -49.52%.

Which ETF is better, PIT or PDBC?

On 3-year performance, PIT leads with 18.98% vs 10.03% for PDBC. On fees, PIT is cheaper at 0.55% per year. On volatility, PDBC has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PIT or PDBC?

Over the 3-year period, PIT has performed better with a 18.98% return vs 10.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PIT or PDBC?

PIT is cheaper with a 0.55% expense ratio, compared with 0.58% for PDBC.

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

PIT has the higher dividend yield at 7.10%, compared with 3.14% for PDBC.

What is the main difference between PIT and PDBC?

They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.55% for PIT and 0.58% for PDBC.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.85 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.