VABS vs. PDBC
VABS (Virtus Newfleet ABS/MBS ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - VABS is a Mortgage Backed Securities fund actively managed by Virtus Investment Partners, while PDBC is a Commodities fund actively managed by Invesco. Both are actively managed. Over the past 5 years, VABS returned 3.25%/yr vs 10.22%/yr for PDBC. At a correlation of -0.05, they often move in opposite directions. VABS charges 0.39%/yr vs 0.58%/yr for PDBC.
Performance
VABS vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, VABS achieves a 1.84% return, which is significantly lower than PDBC's 24.08% return.
VABS
- 1D
- -0.06%
- 1M
- 0.12%
- 6M
- 1.72%
- YTD
- 1.84%
- 1Y
- 3.89%
- 3Y*
- 6.25%
- 5Y*
- 3.25%
- 10Y*
- —
PDBC
- 1D
- 0.12%
- 1M
- -3.63%
- 6M
- 21.24%
- YTD
- 24.08%
- 1Y
- 27.16%
- 3Y*
- 9.96%
- 5Y*
- 10.22%
- 10Y*
- 7.69%
VABS vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VABS Virtus Newfleet ABS/MBS ETF | 1.84% | 5.40% | 7.59% | 7.61% | -5.24% | 0.37% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 24.08% | 5.96% | 2.09% | -6.25% | 19.23% | 28.81% |
Correlation
The correlation between VABS and PDBC is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2021 | -0.05 |
The correlation between VABS and PDBC shifts across timeframes, from -0.22 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VABS vs. PDBC — Risk / Return Rank
VABS
PDBC
VABS vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Newfleet ABS/MBS ETF (VABS) 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.
| VABS | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.27 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.90 | 1.75 | +2.15 |
| Martin ratioReturn relative to average drawdown | 10.21 | 6.25 | +3.96 |
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Drawdowns
VABS vs. PDBC - Drawdown Comparison
The maximum VABS drawdown since its inception was -7.12%, smaller than the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for VABS and PDBC.
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Drawdown Indicators
| VABS | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.12% | -49.52% | +42.40% |
Max Drawdown (1Y)Largest decline over 1 year | -0.98% | -16.55% | +15.57% |
Max Drawdown (3Y)Largest decline over 3 years | -1.42% | -16.55% | +15.13% |
Max Drawdown (5Y)Largest decline over 5 years | -7.12% | -27.63% | +20.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.73% | — |
Current DrawdownCurrent decline from peak | -0.19% | -13.06% | +12.87% |
Average DrawdownAverage peak-to-trough decline | -1.39% | -23.11% | +21.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 4.64% | -4.26% |
Volatility
VABS vs. PDBC - Volatility Comparison
The current volatility for Virtus Newfleet ABS/MBS ETF (VABS) is 0.37%, while Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) has a volatility of 5.48%. This indicates that VABS 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
| VABS | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 5.48% | -5.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.06% | 16.59% | -15.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.94% | 18.72% | -16.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.30% | 19.19% | -16.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.23% | 17.75% | -15.52% |
VABS vs. PDBC - Expense Ratio Comparison
VABS has a 0.39% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
VABS vs. PDBC - Dividend Comparison
VABS's dividend yield for the trailing twelve months is around 5.06%, more than PDBC's 3.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 3.09% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% |
VABS Virtus Newfleet ABS/MBS ETF | 5.06% | 4.94% | 5.05% | 4.13% | 2.47% | 1.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VABS and PDBC have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PDBC has higher volatility (5.48%) compared to VABS (0.37%). In terms of maximum drawdown, VABS dropped -7.12% vs PDBC's -49.52%.
On 5-year performance, PDBC leads with 10.22% vs 3.25% for VABS. On fees, VABS is cheaper at 0.39% per year. On volatility, VABS has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PDBC has performed better with a 10.22% return vs 3.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VABS is cheaper with a 0.39% expense ratio, compared with 0.58% for PDBC.
VABS has the higher dividend yield at 5.06%, compared with 3.09% for PDBC.
VABS is categorized as Mortgage Backed Securities, while PDBC is Commodities. They also come from different issuers: Virtus Investment Partners and Invesco. Their fees differ too: 0.39% for VABS and 0.58% for PDBC.
VABS currently has the higher Sharpe Ratio (1.98 vs 1.55), 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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