UCIB vs. PDBC
UCIB (ETRACS CMCI Total Return ETN Series B) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both Commodities funds. UCIB is passively managed, while PDBC is actively managed. Over the past 10 years, UCIB returned 10.30%/yr vs 8.79%/yr for PDBC. A 0.60 correlation means they provide meaningful diversification when combined. UCIB charges 0.55%/yr vs 0.58%/yr for PDBC.
Performance
UCIB vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, UCIB achieves a 20.67% return, which is significantly lower than PDBC's 36.23% return. Over the past 10 years, UCIB has outperformed PDBC with an annualized return of 10.30%, while PDBC has yielded a comparatively lower 8.79% annualized return.
UCIB
- 1D
- -1.83%
- 1M
- -5.93%
- YTD
- 20.67%
- 6M
- 21.76%
- 1Y
- 29.68%
- 3Y*
- 13.51%
- 5Y*
- 11.77%
- 10Y*
- 10.30%
PDBC
- 1D
- 0.39%
- 1M
- -3.37%
- YTD
- 36.23%
- 6M
- 36.27%
- 1Y
- 45.46%
- 3Y*
- 14.42%
- 5Y*
- 12.39%
- 10Y*
- 8.79%
UCIB vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UCIB ETRACS CMCI Total Return ETN Series B | 20.67% | 8.97% | 6.58% | -2.26% | 18.24% | 37.34% | 1.10% | 10.86% | -9.48% | 5.85% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 36.23% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between UCIB and PDBC is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015 | 0.60 |
The correlation between UCIB and PDBC shifts across timeframes, from 0.54 (3 years) to 0.79 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UCIB vs. PDBC — Risk / Return Rank
UCIB
PDBC
UCIB vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS CMCI Total Return ETN Series B (UCIB) 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.
| UCIB | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.43 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 6.35 | -4.43 |
| Martin ratioReturn relative to average drawdown | 6.55 | 13.39 | -6.83 |
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
| UCIB | PDBC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 2.46 | -1.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.65 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.50 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.23 | +0.15 |
Drawdowns
UCIB vs. PDBC - Drawdown Comparison
The maximum UCIB drawdown since its inception was -36.94%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for UCIB and PDBC.
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Drawdown Indicators
| UCIB | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.94% | -49.52% | +12.58% |
Max Drawdown (1Y)Largest decline over 1 year | -15.53% | -7.19% | -8.34% |
Max Drawdown (3Y)Largest decline over 3 years | -16.18% | -13.95% | -2.23% |
Max Drawdown (5Y)Largest decline over 5 years | -20.95% | -27.63% | +6.68% |
Max Drawdown (10Y)Largest decline over 10 years | -36.94% | -40.73% | +3.79% |
Current DrawdownCurrent decline from peak | -15.53% | -4.55% | -10.98% |
Average DrawdownAverage peak-to-trough decline | -9.06% | -23.21% | +14.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.54% | 3.41% | +1.13% |
Volatility
UCIB vs. PDBC - Volatility Comparison
ETRACS CMCI Total Return ETN Series B (UCIB) has a higher volatility of 16.62% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 6.20%. This indicates that UCIB'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.
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Volatility by Period
| UCIB | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.62% | 6.20% | +10.42% |
Volatility (6M)Calculated over the trailing 6-month period | 31.05% | 15.78% | +15.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.72% | 18.61% | +13.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.74% | 19.12% | +7.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.22% | 17.78% | +5.44% |
UCIB vs. PDBC - Expense Ratio Comparison
UCIB has a 0.55% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
UCIB vs. PDBC - Dividend Comparison
UCIB has not paid dividends to shareholders, while PDBC's dividend yield for the trailing twelve months is around 2.82%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 2.82% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
UCIB ETRACS CMCI Total Return ETN Series B | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UCIB and PDBC have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCIB has higher volatility (16.62%) compared to PDBC (6.20%). In terms of maximum drawdown, UCIB dropped -36.94% vs PDBC's -49.52%.
On 10-year performance, UCIB leads with 10.30% vs 8.79% for PDBC. On fees, UCIB is cheaper at 0.55% per year. On volatility, PDBC has been the lower-risk option at 6.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UCIB has performed better with a 10.30% return vs 8.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UCIB is cheaper with a 0.55% expense ratio, compared with 0.58% for PDBC.
PDBC has the higher dividend yield at 2.82%, compared with 0.00% for UCIB.
They also come from different issuers: UBS and Invesco. Their fees differ too: 0.55% for UCIB and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (2.46 vs 0.94), 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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