PDBC — Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF
Commodities Ranked #88 of 458 tracked ETFs · Issued by Invesco
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.
What If You'd Invested in PDBC?
See what a lump sum in PDBC would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is a commodities-focused ETF, issued by Invesco, a well-established financial services company. PDBC is ranked #88 out of 458 tracked ETFs across all categories, indicating a moderate position in the overall market. The fund carries an expense ratio of 0.59%, which is relatively low, and offers a dividend yield of 2.90%, providing a steady income stream for investors. With an asset under management (AUM) of $6.40B, PDBC is one of the larger funds in its category, suggesting strong investor adoption and confidence in its performance and management.
Over the past year, PDBC has shown a strong performance with a 1-year return of +48.69%, outpacing its closest peers BCI (+44.64%) and GLDM (+37.70%). The fund's returns have been consistently positive across all time horizons, with the 1-month return of +3.27% and the 3-month return of +1.86% indicating a steady growth trajectory. The 6-month return of +27.39% and the year-to-date (YTD) return of +40.44% further support this trend, suggesting that the fund has been able to capitalize on market opportunities. However, the 1-year return of +48.69% stands out, showing a significant acceleration in performance over the past year compared to shorter-term gains.
PDBC is categorized as having a moderate volatility label, which suggests that the fund experiences fluctuations in value but generally remains within a predictable range. The beta of 1.08 indicates that the fund's price tends to move in line with the overall market, making it a relatively stable investment in a diversified portfolio. The Sharpe ratio of 2.17 is quite high, indicating that the fund has provided a good risk-adjusted return, meaning that it has generated higher returns compared to its level of risk. The maximum drawdown of -16.55% reflects the fund's worst performance during a single period, highlighting its resilience during market downturns. Overall, these figures suggest that PDBC offers a balanced approach to commodity investing, providing both stability and potential for growth, suitable for investors seeking exposure to commodities without the extreme volatility often associated with the sector.
AI-generated summary based on the data on this page.
PDBC Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | Invesco Premier U.S. Government Money Portfolio | 75.18% | $4.77B |
| 2 | Invesco Liquidity Funds PLC, Invesco US Dollar Liquidity Portfolio | 17.37% | $1.10B |
| 3 | N/A | 0.85% | $54M |
| 4 | N/A | 0.61% | $39M |
| 5 | N/A | 0.61% | $39M |
| 6 | N/A | 0.60% | $38M |
| 7 | N/A | 0.60% | $38M |
| 8 | N/A | 0.60% | $38M |
| 9 | N/A | 0.42% | $27M |
| 10 | N/A | 0.36% | $23M |
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).
| ETF | Name | Shared Companies | PDBC Weight | Examples |
|---|---|---|---|---|
| RYLD | Global X Russell 2000 Covered Call ETF | 1 | 4.7% | N/A |
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: 4.69% (as of 2026-08-20) — 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): 16.01 (as of 2026-08-20) — 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 2026-07-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What PDBC's Fees Cost You
PDBC charges an expense ratio of 0.59% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
PDBC Dividend Income Estimator
PDBC currently yields 2.90%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
See it in a portfolio
PDBC isn't one of the twelve funds in the portfolio game, but GLD — Gold — sits in the same category and is. It is an equivalent, not a substitute: different holdings, different fee, different returns.
Free, no sign-up, virtual money only.
PDBC Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 0.12% 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 $6.40B 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
| Period | Return |
|---|---|
| 1-Day | +0.54% |
| 1-Week | +4.13% |
| 1-Month | +3.27% |
| 3-Month | +1.86% |
| 6-Month | +27.39% |
| YTD | +40.44% |
| 1-Year | +48.69% |
| 3-Year | +44.32% |
How PDBC Compares to Other Commodities ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #39 | B |
BCI | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | +44.64% | 0.26% | $2.98B |
| #88 | B |
PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | +48.69% | 0.59% | $6.40B |
| #98 | B |
GLDM | SPDR Gold MiniShares | +37.70% | 0.1% | $27.4B |
| #107 | B |
IAU | iShares Gold Trust | +37.48% | 0.25% | $59.7B |
| #127 | B |
GLD | SPDR Gold Shares | +37.29% | 0.4% | $130B |
| #128 | B |
DJP | iPath Bloomberg Commodity Index Total Return(SM) ETN | +51.06% | 0.7% | $935M |
| #131 | B |
IAUM | iShares Gold Trust Micro | +37.69% | 0.09% | $6.34B |
| #143 | B |
COMT | iShares GSCI Commodity Dynamic Roll Strategy ETF | +44.27% | 0.48% | $1.19B |
| #145 | B |
SGOL | abrdn Physical Gold Shares ETF | +37.63% | 0.17% | $6.73B |
| #167 | C |
DBC | Invesco DB Commodity Index Tracking Fund | +47.81% | 0.85% | $1.71B |
| #175 | C |
SLV | iShares Silver Trust | +82.17% | 0.5% | $28.1B |
| #181 | C |
GSG | iShares S&P GSCI Commodity-Indexed Trust | +51.84% | 0.75% | $928M |
| #190 | C |
OUNZ | VanEck Merk Gold Trust | +37.47% | 0.25% | $2.54B |
| #193 | C |
BAR | GraniteShares Gold Trust | +37.57% | 0.1749% | $1.31B |
| #203 | C |
DBB | Invesco DB Base Metals Fund | +35.01% | 0.75% | $362M |
| #224 | C |
USO | United States Oil Fund, LP | +83.13% | 0.86% | $1.99B |
| #266 | C |
CPER | United States Copper Index Fund, LP | +44.58% | 0.88% | $732M |
| #346 | C |
PPLT | abrdn Physical Platinum Shares ETF | +39.28% | 0.6% | $1.87B |
| #389 | C |
DBA | Invesco DB Agriculture Fund | +7.87% | 0.85% | $1.21B |
| #437 | F |
PALL | abrdn Physical Palladium Shares ETF | +20.23% | 0.6% | $615M |
| #446 | F |
WEAT | Teucrium Wheat Fund | +20.14% | 1% | $295M |
| #458 | F |
UNG | United States Natural Gas Fund, LP | -17.64% | 1.17% | $468M |