XLU vs. PDBC
XLU (State Street Utilities Select Sector SPDR ETF) and PDBC (Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF) are both exchange-traded funds - XLU is a Utilities Equities fund tracking the Utilities Select Sector Index, while PDBC is a Commodities fund actively managed by Invesco. XLU is passively managed, while PDBC is actively managed. Over the past 10 years, XLU returned 9.14%/yr vs 8.06%/yr for PDBC. At a 0.07 correlation, their price movements are largely independent. XLU charges 0.08%/yr vs 0.58%/yr for PDBC.
Performance
XLU vs. PDBC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XLU achieves a 3.91% return, which is significantly lower than PDBC's 30.11% return. Over the past 10 years, XLU has outperformed PDBC with an annualized return of 9.14%, while PDBC has yielded a comparatively lower 8.06% annualized return.
XLU
- 1D
- 0.11%
- 1M
- -2.52%
- YTD
- 3.91%
- 6M
- 3.83%
- 1Y
- 11.99%
- 3Y*
- 13.37%
- 5Y*
- 9.18%
- 10Y*
- 9.14%
PDBC
- 1D
- -1.09%
- 1M
- -8.83%
- YTD
- 30.11%
- 6M
- 30.06%
- 1Y
- 36.08%
- 3Y*
- 13.30%
- 5Y*
- 11.21%
- 10Y*
- 8.06%
XLU vs. PDBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLU State Street Utilities Select Sector SPDR ETF | 3.91% | 16.03% | 23.31% | -7.18% | 1.44% | 17.70% | 0.51% | 25.93% | 3.94% | 12.05% |
PDBC Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 30.11% | 5.96% | 2.09% | -6.25% | 19.23% | 41.72% | -7.84% | 11.44% | -12.78% | 5.06% |
Correlation
The correlation between XLU and PDBC is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014 | 0.07 |
The correlation between XLU and PDBC shifts across timeframes, from -0.06 (1 year) to 0.08 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XLU vs. PDBC — Risk / Return Rank
XLU
PDBC
XLU vs. PDBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Utilities Select Sector SPDR ETF (XLU) 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.
| XLU | PDBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.34 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.31 | 4.11 | -2.79 |
| Martin ratioReturn relative to average drawdown | 2.84 | 10.05 | -7.21 |
Loading charts...
Drawdowns
XLU vs. PDBC - Drawdown Comparison
The maximum XLU drawdown since its inception was -51.98%, roughly equal to the maximum PDBC drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for XLU and PDBC.
Loading charts...
Drawdown Indicators
| XLU | PDBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.98% | -49.52% | -2.46% |
Max Drawdown (1Y)Largest decline over 1 year | -9.18% | -8.83% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -17.26% | -13.95% | -3.31% |
Max Drawdown (5Y)Largest decline over 5 years | -25.26% | -27.63% | +2.37% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | -40.73% | +4.66% |
Current DrawdownCurrent decline from peak | -7.06% | -8.83% | +1.77% |
Average DrawdownAverage peak-to-trough decline | -10.22% | -23.17% | +12.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.23% | 3.60% | +0.63% |
Volatility
XLU vs. PDBC - Volatility Comparison
State Street Utilities Select Sector SPDR ETF (XLU) has a higher volatility of 5.58% compared to Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at 4.92%. This indicates that XLU'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.
Loading charts...
Volatility by Period
| XLU | PDBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.58% | 4.92% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 11.63% | 16.08% | -4.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.63% | 18.88% | -4.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.34% | 19.16% | -1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.27% | 17.78% | +1.49% |
XLU vs. PDBC - Expense Ratio Comparison
XLU has a 0.08% expense ratio, which is lower than PDBC's 0.58% expense ratio.
Dividends
XLU vs. PDBC - Dividend Comparison
XLU's dividend yield for the trailing twelve months is around 2.70%, less than PDBC's 2.95% 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 | 2.95% | 3.84% | 4.42% | 4.21% | 13.05% | 50.83% | 0.01% | 1.40% | 1.00% | 3.83% | 6.51% | 0.00% |
XLU State Street Utilities Select Sector SPDR ETF | 2.70% | 2.71% | 2.96% | 3.39% | 2.92% | 2.79% | 3.14% | 2.95% | 3.33% | 3.33% | 3.41% | 3.67% |
Frequently Asked Questions
XLU and PDBC have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLU has higher volatility (5.58%) compared to PDBC (4.92%). In terms of maximum drawdown, XLU dropped -51.98% vs PDBC's -49.52%.
On 10-year performance, XLU leads with 9.14% vs 8.06% for PDBC. On fees, XLU is cheaper at 0.08% per year. On volatility, PDBC has been the lower-risk option at 4.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLU has performed better with a 9.14% return vs 8.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLU is cheaper with a 0.08% expense ratio, compared with 0.58% for PDBC.
PDBC has the higher dividend yield at 2.95%, compared with 2.70% for XLU.
XLU is categorized as Utilities Equities, while PDBC is Commodities. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.08% for XLU and 0.58% for PDBC.
PDBC currently has the higher Sharpe Ratio (1.93 vs 0.82), 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.
Find the right allocation for XLU and PDBC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer