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

Issued by Invesco, the Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF is a $7.70 billion fund ranked second among 22 peers in the Commodities category. It holds an overall grade of B with a score of 73.6 out of 100, placing it at number 77 across all 458 tracked ETFs. The expense ratio of 0.59% aligns closely with the category median of 0.595%, while its dividend yield of 2.62% trails the peer average of 2.91%. Despite its commodity focus, the fund’s top ten holdings account for 97.5% of assets, with the largest position being the Invesco Premier U.S. Government Money Portfolio at 78.3%.

The fund has delivered a 1-year return of 49.47%, significantly outperforming the category median of 15.34%. This strong long-term momentum is supported by a year-to-date gain of 46.16% and a 3-year return of 51.44%, contrasting with modest short-term movements of 0.57% over both one week and one month. The current price of $19.41 sits at 89.4% of its 52-week range, indicating it is near the upper end of its recent trading band. The ETFValuer grade of B has remained unchanged over the last 35 tracked days, reflecting stable assessment metrics. Historical data is available for 3.0 years, providing a limited but consistent record for evaluation.

With an annualized volatility of 20.73%, the fund is classified as having moderate risk. Its beta of 1.07 suggests it moves slightly more than the broader market, while a Sharpe ratio of 2.14 indicates strong risk-adjusted returns relative to its volatility. The maximum drawdown of -16.55% highlights the extent of its recent peak-to-trough decline. Liquidity is robust, evidenced by an average daily volume of 6,784,506 shares, which supports efficient trading. These metrics collectively describe a fund that has generated substantial returns despite moderate price fluctuations.

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

PDBC Top Holdings

Holdings as of 2026-07-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 97.5% 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 (7.3% 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: 5.27% (as of 2026-10-06) — 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): 15.01 (as of 2026-10-06) — 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: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

PDBC Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 6.8M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $7.70B 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