PDBC: Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF returns, drawdowns and risk
Funds that invest in commodity futures: oil, natural gas, agriculture, copper or a broad basket.
Data updated October 2026
PDBC · US exchange · USDCategory: Oil, gas and commodity ETFsData from November 2014
From November 2014 to October 2026 PDBC returned 2.3% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $13,054.
Its deepest fall was 49.5%, from November 2014 to April 2020, and it took about 83 months to get back to the previous high. Annual volatility was 19.8%; at the last close it was 0.6% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 143 months both have data, the correlation of monthly returns was 0.29: they moved largely independently. Beta was 0.36. In months when SPY rose, PDBC moved 44% as much on average; in months when SPY fell, 54% as much.
Key figures
- Annual return (CAGR)
- +2.3%
- 1-year return
- +57.4%
- 5 years, a year
- +5.3%
- 10 years, a year
- +6.3%
- Annual volatility
- 19.8%
- Maximum drawdown
- −49.5%
- Sharpe ratio
- 0.12
- Worst year
- 2015: −26.9%
Trailing returns
| Period | PDBC | SPY |
|---|---|---|
| 1 year | +57.4% | +16.6% |
| 3 years, a year | +14.6% | +23.1% |
| 5 years, a year | +5.3% | +12.7% |
| 10 years, a year | +6.3% | +15.4% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: PDBC vs SPY
Month-end values from December 2014, the first month both funds have data.
PDBC drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | PDBC | SPY |
|---|---|---|
| 2026(partial) | +50.8% | +13.3% |
| 2025 | +6.0% | +17.7% |
| 2024 | +2.1% | +24.9% |
| 2023 | −6.1% | +26.2% |
| 2022 | +19.2% | −18.2% |
| 2021 | +4.1% | +28.7% |
| 2020 | −7.8% | +18.3% |
| 2019 | +11.4% | +31.2% |
| 2018 | −12.8% | −4.6% |
| 2017 | +5.1% | +21.7% |
| 2016 | +18.0% | +12.0% |
| 2015 | −26.9% | +1.2% |
| 2014(partial) | −15.5% | — |
PDBC compared
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of PDBC?
From November 2014 to October 2026 PDBC returned 2.3% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: +5.3% a year. Over the last 12 months: +57.4%.
What was the worst drawdown of PDBC?
49.5%, from November 2014 to April 2020; it took about 83 months from the previous high to get back to it.
How volatile is PDBC?
Annual volatility was 19.8% over the period. Its worst month was −21.7% and 56% of months were positive. Worst calendar year: 2015 (−26.9%).
How closely does PDBC follow SPY?
Over 143 months the correlation of monthly returns was 0.29, so they moved largely independently, with a beta of 0.36.
Use PDBC in a free tool
Other Oil, gas and commodity ETFs
- All Oil, gas and commodity ETFsReturns and risk side by side
- USO — United States Oil FundCAGR +32.1%
- DBC — Invesco DB Commodity Index Tracking FundCAGR +2.8%
- UNG — United States Natural Gas FundCAGR −20.7%
- DBA — Invesco DB Agriculture FundCAGR +1.5%
- CPER — United States Copper Index FundCAGR +3.1%
- GSG — iShares S&P GSCI Commodity-Indexed TrustCAGR −0.5%
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.