UBT vs. PDBC
Compare and contrast key facts about ProShares Ultra 20+ Year Treasury (UBT) and Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC).
UBT and PDBC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UBT is a passively managed fund by ProShares that tracks the performance of the Barclays Capital U.S. 20+ Year Treasury Index (200%). It was launched on Jan 19, 2010. PDBC is an actively managed fund by Invesco. It was launched on Nov 7, 2014.
Performance
UBT vs. PDBC - Performance Comparison
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UBT vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UBT ProShares Ultra 20+ Year Treasury | -1.06% | 2.03% | -21.81% | -3.68% | -55.54% | -12.14% | 31.87% | 24.46% | -6.54% | 16.12% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 30.72% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Returns By Period
In the year-to-date period, UBT achieves a -1.06% return, which is significantly lower than PDBC's 30.72% return. Over the past 10 years, UBT has underperformed PDBC with an annualized return of -7.69%, while PDBC has yielded a comparatively higher 9.86% annualized return.
UBT
- 1D
- -0.31%
- 1M
- -8.62%
- YTD
- -1.06%
- 6M
- -4.20%
- 1Y
- -6.78%
- 3Y*
- -12.29%
- 5Y*
- -17.12%
- 10Y*
- -7.69%
PDBC
- 1D
- -1.03%
- 1M
- 16.09%
- YTD
- 30.72%
- 6M
- 33.97%
- 1Y
- 32.00%
- 3Y*
- 11.28%
- 5Y*
- 14.29%
- 10Y*
- 9.86%
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UBT vs. PDBC - Expense Ratio Comparison
UBT has a 0.95% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Return for Risk
UBT vs. PDBC — Risk / Return Rank
UBT
PDBC
UBT vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra 20+ Year Treasury (UBT) 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.
| UBT | PDBC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.30 | 1.72 | -2.02 |
Sortino ratioReturn per unit of downside risk | -0.27 | 2.31 | -2.57 |
Omega ratioGain probability vs. loss probability | 0.97 | 1.31 | -0.34 |
Calmar ratioReturn relative to maximum drawdown | -0.28 | 3.04 | -3.32 |
Martin ratioReturn relative to average drawdown | -0.52 | 7.48 | -8.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UBT | PDBC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.30 | 1.72 | -2.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.55 | 0.76 | -1.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.26 | 0.56 | -0.82 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 0.22 | -0.19 |
Correlation
The correlation between UBT and PDBC is -0.17. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
UBT vs. PDBC - Dividend Comparison
UBT's dividend yield for the trailing twelve months is around 3.93%, more than PDBC's 2.94% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UBT ProShares Ultra 20+ Year Treasury | 3.93% | 4.26% | 4.50% | 3.54% | 0.30% | 0.00% | 0.26% | 1.50% | 1.55% | 1.37% | 0.75% | 1.56% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 2.94% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% | 0.00% |
Drawdowns
UBT vs. PDBC - Drawdown Comparison
The maximum UBT drawdown since its inception was -78.90%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for UBT and PDBC.
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Drawdown Indicators
| UBT | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.90% | -49.52% | -29.38% |
Max Drawdown (1Y)Largest decline over 1 year | -18.64% | -11.07% | -7.57% |
Max Drawdown (5Y)Largest decline over 5 years | -72.49% | -27.63% | -44.86% |
Max Drawdown (10Y)Largest decline over 10 years | -78.90% | -40.73% | -38.17% |
Current DrawdownCurrent decline from peak | -76.27% | -1.03% | -75.24% |
Average DrawdownAverage peak-to-trough decline | -31.82% | -23.53% | -8.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.11% | 4.50% | +5.61% |
Volatility
UBT vs. PDBC - Volatility Comparison
The current volatility for ProShares Ultra 20+ Year Treasury (UBT) is 7.28%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 8.15%. This indicates that UBT 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
| UBT | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.28% | 8.15% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 13.23% | 13.88% | -0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.59% | 18.72% | +3.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.38% | 18.92% | +12.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.38% | 17.69% | +11.69% |