WEAT vs. PDBC
WEAT (Teucrium Wheat Fund) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - WEAT is a Agricultural Commodities fund tracking the Teucrium Wheat Index (TWEAT), while PDBC is a Commodities fund actively managed by Invesco. WEAT is passively managed, while PDBC is actively managed. Over the past 10 years, WEAT returned -5.23%/yr vs 7.69%/yr for PDBC. At a 0.28 correlation, their price movements are largely independent. WEAT charges 1.91%/yr vs 0.58%/yr for PDBC.
Performance
WEAT vs. PDBC - Performance Comparison
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Returns By Period
In the year-to-date period, WEAT achieves a 18.78% return, which is significantly lower than PDBC's 24.08% return. Over the past 10 years, WEAT has underperformed PDBC with an annualized return of -5.23%, while PDBC has yielded a comparatively higher 7.69% annualized return.
WEAT
- 1D
- 2.91%
- 1M
- 5.75%
- 6M
- 16.62%
- YTD
- 18.78%
- 1Y
- 5.42%
- 3Y*
- -10.15%
- 5Y*
- -5.12%
- 10Y*
- -5.23%
PDBC
- 1D
- 0.12%
- 1M
- -4.64%
- 6M
- 21.24%
- YTD
- 24.08%
- 1Y
- 27.16%
- 3Y*
- 9.96%
- 5Y*
- 10.22%
- 10Y*
- 7.69%
WEAT vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WEAT Teucrium Wheat Fund | 18.78% | -17.14% | -19.26% | -25.19% | 7.98% | 19.39% | 5.81% | -1.35% | -1.17% | -12.79% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 24.08% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between WEAT and PDBC is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.28 |
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Return for Risk
WEAT vs. PDBC — Risk / Return Rank
WEAT
PDBC
WEAT vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teucrium Wheat Fund (WEAT) 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.
| WEAT | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.27 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | 1.75 | -1.50 |
| Martin ratioReturn relative to average drawdown | 0.48 | 6.25 | -5.76 |
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Drawdowns
WEAT vs. PDBC - Drawdown Comparison
The maximum WEAT drawdown since its inception was -84.32%, which is greater than PDBC's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for WEAT and PDBC.
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Drawdown Indicators
| WEAT | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.32% | -49.52% | -34.80% |
Max Drawdown (1Y)Largest decline over 1 year | -14.44% | -16.55% | +2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -46.27% | -16.55% | -29.72% |
Max Drawdown (5Y)Largest decline over 5 years | -67.83% | -27.63% | -40.20% |
Max Drawdown (10Y)Largest decline over 10 years | -67.83% | -40.73% | -27.10% |
Current DrawdownCurrent decline from peak | -81.29% | -13.06% | -68.23% |
Average DrawdownAverage peak-to-trough decline | -63.23% | -23.11% | -40.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.21% | 4.64% | +3.57% |
Volatility
WEAT vs. PDBC - Volatility Comparison
Teucrium Wheat Fund (WEAT) has a higher volatility of 6.35% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 5.48%. This indicates that WEAT'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
| WEAT | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.35% | 5.48% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 18.74% | 16.59% | +2.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.95% | 18.72% | +3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.33% | 19.19% | +11.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.77% | 17.75% | +9.02% |
WEAT vs. PDBC - Expense Ratio Comparison
WEAT has a 1.91% expense ratio, which is higher than PDBC's 0.58% expense ratio.
Dividends
WEAT vs. PDBC - Dividend Comparison
WEAT has not paid dividends to shareholders, while PDBC's dividend yield for the trailing twelve months is around 3.09%.
| 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% |
WEAT Teucrium Wheat Fund | 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
WEAT and PDBC have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEAT has higher volatility (6.35%) compared to PDBC (5.48%). In terms of maximum drawdown, WEAT dropped -84.32% vs PDBC's -49.52%.
On 10-year performance, PDBC leads with 7.69% vs -5.23% for WEAT. On fees, PDBC is cheaper at 0.58% per year. On volatility, PDBC has been the lower-risk option at 5.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PDBC has performed better with a 7.69% return vs -5.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PDBC is cheaper with a 0.58% expense ratio, compared with 1.91% for WEAT.
PDBC has the higher dividend yield at 3.09%, compared with 0.00% for WEAT.
WEAT is categorized as Agricultural Commodities, while PDBC is Commodities. They also come from different issuers: Teucrium and Invesco. Their fees differ too: 1.91% for WEAT and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.55 vs 0.16), 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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