PDBC — Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF

PDBC Price Performance — Growth of $10,000

Value of a $10,000 investment in PDBC over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

PDBC Drawdown

The "underwater" chart: PDBC's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) operates within the Commodities category, which ETFValuer tracks with 22 funds. Issued by Invesco, this fund has accumulated assets under management of $5.33 billion while trading at a price of $17.06. It holds an overall rank of #126 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of B with a score of 68.8 out of 100. The fund carries an expense ratio of 0.59% and offers a dividend yield of 3.20%. The substantial asset size and moderate trading price suggest significant investor adoption relative to the broader universe of 458 tracked funds. These metrics collectively position the ETF as a mid-tier performer in terms of ranking despite its large capital base and competitive yield profile.

Recent price action shows a decline of 1.61% over one day and a further drop of 3.34% over one week. However, the fund reversed this short-term weakness with a 7.50% gain over the past month. The three-month return of -4.96% indicates a period of underperformance that contrasts with the stronger momentum seen in the six-month window of +18.31%. Year-to-date returns have accelerated significantly to +28.46%, building on a one-year return of +34.06%. This upward trajectory continues into the longer term, with a three-year return of +33.11%. The data reveals a pattern where short-term volatility has been overshadowed by robust gains over the six-month, year-to-date, and annual horizons.

The fund is assigned a Moderate volatility label and exhibits a beta of 1.06, indicating price movements that are slightly more sensitive than the broader market. A Sharpe ratio of 1.49 suggests the fund has generated a favorable amount of excess return per unit of risk taken over the measured period. Despite these positive risk-adjusted metrics, the fund experienced a maximum drawdown of -16.55%, highlighting the potential for significant temporary losses. This combination of moderate volatility and a beta slightly above one implies the fund tends to amplify market moves while maintaining a relatively efficient return profile. The substantial maximum drawdown serves as a reminder that the fund's exposure to commodities can lead to sharp declines even when long-term returns remain positive.

AI-generated summary based on the data on this page.

PDBC Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 97.2% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how PDBC's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With PDBC

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with PDBC's top 10 — RYLD overlaps most, holding 1 of the same companies as PDBC's top 10 (4.7% of PDBC's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

PDBC Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.41% and average daily volume is 7.1M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $5.33B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: PDBC is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

PDBC Performance History

How PDBC Compares to Other Commodities ETFs