TD vs. PDBC
TD (The Toronto-Dominion Bank) is a stock, while PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) is Commodities fund actively managed by Invesco. Over the past 10 years, TD returned 15.56%/yr vs 8.61%/yr for PDBC. Their 0.30 correlation means their historical movements had little consistent relationship.
Performance
TD vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, TD achieves a 31.57% return, which is significantly higher than PDBC's 28.15% return. Over the past 10 years, TD has outperformed PDBC with an annualized return of 15.56%, while PDBC has yielded a comparatively lower 8.61% annualized return.
TD
- 1D
- 1.47%
- 1M
- 1.09%
- 6M
- 28.78%
- YTD
- 31.57%
- 1Y
- 71.44%
- 3Y*
- 29.06%
- 5Y*
- 17.43%
- 10Y*
- 15.56%
- ALL TIME*
- 15.67%
PDBC
- 1D
- 0.47%
- 1M
- 5.47%
- 6M
- 18.25%
- YTD
- 28.15%
- 1Y
- 35.58%
- 3Y*
- 9.41%
- 5Y*
- 11.02%
- 10Y*
- 8.61%
- ALL TIME*
- 3.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $121.86M | $152.61M | $122.20M | |
| $272.16M | $365.78M | $290.47M |
TD vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TD The Toronto-Dominion Bank | 31.57% | 85.32% | -13.40% | 5.04% | -12.19% | 41.25% | 5.58% | 17.45% | -12.10% | 22.85% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 28.15% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between TD and PDBC is -0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.28 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.30 |
The correlation between TD and PDBC shifts across timeframes, from -0.08 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TD vs. PDBC — Risk / Return Rank
TD
PDBC
TD vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Toronto-Dominion Bank (TD) 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.
| TD | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.24 | ||
| Sortino ratioReturn per unit of downside risk | +2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.31 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 9.57 | 2.16 | +7.41 |
| Martin ratioReturn relative to average drawdown | 35.54 | 7.07 | +28.47 |
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Drawdowns
TD vs. PDBC - Drawdown Comparison
The maximum TD drawdown since its inception was -64.18%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for TD and PDBC.
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Drawdown Indicators
| TD | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.18% | -49.52% | -14.66% |
Max Drawdown (1Y)Largest decline over 1 year | -7.50% | -16.55% | +9.05% |
Max Drawdown (3Y)Largest decline over 3 years | -19.19% | -16.55% | -2.64% |
Max Drawdown (5Y)Largest decline over 5 years | -30.93% | -27.63% | -3.30% |
Max Drawdown (10Y)Largest decline over 10 years | -41.98% | -40.73% | -1.25% |
Current DrawdownCurrent decline from peak | -2.92% | -10.21% | +7.29% |
Average DrawdownAverage peak-to-trough decline | -11.18% | -23.02% | +11.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 5.05% | -3.03% |
Volatility
TD vs. PDBC - Volatility Comparison
The current volatility for The Toronto-Dominion Bank (TD) is 6.83%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 7.58%. This indicates that TD experiences smaller price fluctuations and is considered to be less risky than PDBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TD | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.83% | 7.58% | -0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 13.63% | 16.65% | -3.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.73% | 19.73% | -2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.89% | 19.28% | +0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.76% | 17.85% | +3.91% |
Dividends
TD vs. PDBC - Dividend Comparison
TD's dividend yield for the trailing twelve months is around 2.56%, less than PDBC's 3.00% 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 | 3.00% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% | 0.00% |
TD The Toronto-Dominion Bank | 2.56% | 3.17% | 5.65% | 4.80% | 4.24% | 3.27% | 4.10% | 3.89% | 4.08% | 3.03% | 3.58% | 5.11% |
Frequently Asked Questions
TD and PDBC have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (7.58%) compared to TD (6.83%). In terms of maximum drawdown, TD dropped -64.18% vs PDBC's -49.52%.
TD currently has the higher Sharpe Ratio (4.06 vs 1.81), 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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