Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC)
Market Price (8/22/2026): $18.72
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC)
Market Price (8/22/2026): $18.72
Key Takeaways
- PDBC has returned +40.8% YTD vs +12.6% for SPY; +42.0% over the past 12 months (SPY +21.5%). details →
- Priced in gold, PDBC has returned -42.8% over the past 3 years, vs +40.6% in dollars — its dollar gains have lagged gold. details →
- Over the past month, PDBC has seen net inflows of +$317M (+4.8% of assets). details →
- Risk-adjusted returns trail SPY: 3-year Sharpe ratio of 0.3 vs 0.9. details →
- PDBC is trading within 1.4% of its all-time high. details →
Asset Allocation with PDBC
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PDBC Return | 42% | 19% | -6% | 2% | 2% | 40% | 131% |
| Peers Return | 34% | 18% | -6% | 5% | 8% | 34% | 126% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| PDBC Win Rate | 75% | 58% | 33% | 50% | 75% | 75% | |
| Peers Win Rate | 75% | 62% | 28% | 48% | 68% | 80% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| PDBC Max Drawdown | -12% | -23% | -13% | -12% | -13% | -17% | |
| Peers Max Drawdown | -11% | -22% | -10% | -11% | -12% | -13% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DBC, COMT, GSG, BCI, FTGC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/21/2026 (YTD)
Sharpe Ratios Compared
One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.
Results as of 7312026.How Low Can It Go
| Event | PDBC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -12.3% | -18.8% |
| % Gain to Breakeven | 14.1% | 23.1% |
| Time to Breakeven | 287 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -27.7% | -33.7% |
| % Gain to Breakeven | 38.2% | 50.9% |
| Time to Breakeven | 252 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.0% | -19.2% |
| % Gain to Breakeven | 28.2% | 23.8% |
| Time to Breakeven | 858 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -22.0% | -12.2% |
| % Gain to Breakeven | 28.3% | 13.9% |
| Time to Breakeven | 139 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -45.2% | -6.8% |
| % Gain to Breakeven | 82.6% | 7.3% |
| Time to Breakeven | 2094 days | 15 days |
In The Past
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF's stock fell -12.3% during the 2025 US Tariff Shock. Such a loss loss requires a 14.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | PDBC | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -27.7% | -33.7% |
| % Gain to Breakeven | 38.2% | 50.9% |
| Time to Breakeven | 252 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.0% | -19.2% |
| % Gain to Breakeven | 28.2% | 23.8% |
| Time to Breakeven | 858 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -22.0% | -12.2% |
| % Gain to Breakeven | 28.3% | 13.9% |
| Time to Breakeven | 139 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -45.2% | -6.8% |
| % Gain to Breakeven | 82.6% | 7.3% |
| Time to Breakeven | 2094 days | 15 days |
In The Past
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF's stock fell -12.3% during the 2025 US Tariff Shock. Such a loss loss requires a 14.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Current Dip Buy Opportunities Across ETFs
ETFs currently down 5% or more from trailing 6M peaks.
| Ticker | Name | Dip % | Mkt Price | Price Date | Peak Price | Peak Date | # Days |
|---|---|---|---|---|---|---|---|
| MAGS | Roundhill Magnificent Seven ETF | -5.2% | 67.28 | 8212026 | 70.94 | 5142026 | 99 |
| IEMG | iShares Core MSCI Emerging Markets ETF | -5.2% | 81.57 | 8212026 | 86.00 | 6222026 | 60 |
| EEM | iShares MSCI Emerging Markets ETF | -5.7% | 67.12 | 8212026 | 71.21 | 6222026 | 60 |
| ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | -7.5% | 34.49 | 8212026 | 37.30 | 6222026 | 60 |
| EWY | iShares MSCI South Korea ETF | -18.6% | 178.34 | 8212026 | 219.20 | 6212026 | 61 |
| EWZ | iShares MSCI Brazil ETF | -16.0% | 35.06 | 8212026 | 41.73 | 4142026 | 129 |
| FXI | iShares China Large-Cap ETF | -7.6% | 35.86 | 8212026 | 38.81 | 2222026 | 180 |
| ILF | iShares Latin America 40 ETF | -9.0% | 34.68 | 8212026 | 38.10 | 4142026 | 129 |
| KWEB | KraneShares CSI China Internet ETF | -18.5% | 26.66 | 8212026 | 32.70 | 2222026 | 180 |
| MTUM | iShares MSCI USA Momentum Factor ETF | -11.6% | 305.17 | 8212026 | 345.22 | 6222026 | 60 |
| SPMO | Invesco S&P 500 Momentum ETF | -8.0% | 148.73 | 8212026 | 161.66 | 6222026 | 60 |
| URA | Global X Uranium ETF | -20.9% | 46.07 | 8212026 | 58.26 | 5062026 | 107 |
| BOTZ | Global X Funds Global X Robotics & Artificial Intelligence ETF | -13.4% | 36.04 | 8212026 | 41.63 | 5132026 | 100 |
| ROBO | ROBO Global Robotics & Automation Index ETF | -10.2% | 81.17 | 8212026 | 90.34 | 6022026 | 80 |
| LIT | Global X Lithium & Battery Tech ETF | -16.4% | 76.61 | 8212026 | 91.62 | 5112026 | 102 |
| ICLN | iShares Global Clean Energy ETF | -25.9% | 17.59 | 8212026 | 23.75 | 6022026 | 80 |
| ARKQ | ARK Autonomous Technology & Robotics ETF | -12.7% | 125.58 | 8212026 | 143.82 | 5282026 | 85 |
| ARKX | ARK Space & Defense Innovation ETF | -11.9% | 33.25 | 8212026 | 37.74 | 5282026 | 85 |
| NASA | Tema Space Innovators ETF | -41.2% | 24.64 | 8212026 | 41.89 | 5272026 | 86 |
| AGIX | KraneShares Artificial Intelligence ETF | -9.2% | 44.85 | 8212026 | 49.40 | 6012026 | 81 |
| VGT | Vanguard Information Technology ETF | -5.7% | 118.42 | 8212026 | 125.62 | 6022026 | 80 |
| XLK | State Street Technology Select Sector SPDR ETF | -7.5% | 183.31 | 8212026 | 198.21 | 6022026 | 80 |
| XLC | State Street Communication Services Select Sector SPDR ETF | -6.5% | 111.40 | 8212026 | 119.10 | 4192026 | 124 |
| XLU | State Street Utilities Select Sector SPDR ETF | -9.8% | 42.77 | 8212026 | 47.40 | 3012026 | 173 |
| SMH | VanEck Semiconductor ETF | -16.2% | 560.42 | 8212026 | 668.91 | 6222026 | 60 |
| SOXX | iShares Semiconductor ETF | -20.6% | 520.05 | 8212026 | 655.01 | 6222026 | 60 |
| ITA | iShares U.S. Aerospace & Defense ETF | -6.3% | 237.34 | 8212026 | 253.22 | 8162026 | 5 |
| MISL | First Trust Indxx Aerospace & Defense ETF | -10.1% | 45.53 | 8212026 | 50.66 | 3022026 | 172 |
| RING | iShares MSCI Global Gold Miners ETF | -8.6% | 90.85 | 8212026 | 99.42 | 3012026 | 173 |
| SOXQ | Invesco PHLX Semiconductor ETF | -19.7% | 92.42 | 8212026 | 115.11 | 6222026 | 60 |
| TLT | iShares 20+ Year Treasury Bond ETF | -8.0% | 82.05 | 8212026 | 89.15 | 3012026 | 173 |
| VGLT | Vanguard Long-Term Treasury ETF | -6.7% | 52.75 | 8212026 | 56.53 | 3012026 | 173 |
| SPTL | State Street SPDR Portfolio Long Term Treasury ETF | -7.1% | 25.09 | 8212026 | 26.99 | 3012026 | 173 |
| TLH | iShares 10-20 Year Treasury Bond ETF | -6.2% | 96.69 | 8212026 | 103.08 | 3012026 | 173 |
| EDV | Vanguard World Funds Extended Duration ETF | -11.7% | 59.51 | 8212026 | 67.42 | 3012026 | 173 |
| SPLB | State Street SPDR Portfolio Long Term Corporate Bond ETF | -5.3% | 21.33 | 8212026 | 22.52 | 2262026 | 176 |
| GSG | iShares GSCI Commodity | -5.8% | 30.01 | 8212026 | 31.85 | 3182026 | 156 |
| GLD | SPDR Gold Trust | -13.6% | 423.36 | 8212026 | 490.00 | 3022026 | 172 |
| IAU | iShares Gold Trust | -13.5% | 86.79 | 8212026 | 100.38 | 3022026 | 172 |
| GLDM | SPDR Gold MiniShares Trust | -13.5% | 91.32 | 8212026 | 105.54 | 3022026 | 172 |
| SGOL | ETFS Physical Swiss Gold Shares | -12.1% | 44.66 | 8212026 | 50.81 | 3022026 | 172 |
| BAR | Direxion Daily Gold Bull 3X Shares | -15.6% | 44.34 | 8212026 | 52.53 | 3022026 | 172 |
| SLV | iShares Silver Trust | -26.2% | 62.72 | 8212026 | 84.99 | 3012026 | 173 |
| SIVR | ETFS Physical Silver Shares Trust ETF | -6.6% | 83.39 | 8212026 | 89.26 | 3012026 | 173 |
| PPLT | ETFS Physical Platinum Shares | -20.7% | 17.02 | 8212026 | 21.47 | 3012026 | 173 |
| CPER | United States Copper Index Fund ETV | -9.6% | 33.33 | 8212026 | 36.88 | 3012026 | 173 |
| PALL | ETFS Physical Palladium Shares | -24.9% | 24.45 | 8212026 | 32.54 | 2242026 | 178 |
| USO | United States Oil Fund LP | -12.0% | 134.64 | 8212026 | 152.96 | 5192026 | 94 |
| UNG | United States Natural Gas Fund LP | -23.4% | 9.99 | 8212026 | 13.04 | 3122026 | 162 |
| BNO | United States Brent Oil Fund LP ETV | -7.1% | 55.85 | 8212026 | 60.13 | 5042026 | 109 |
| IBIT | iShares Bitcoin Trust ETF | -6.0% | 43.68 | 8212026 | 46.47 | 5112026 | 102 |
| FBTC | Fidelity Wise Origin Bitcoin Fund | -6.1% | 67.02 | 8212026 | 71.35 | 5112026 | 102 |
ETF Fund Flows
Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.
Asset allocation rotation · Past month
- Equity ETFs drew the largest net inflows (+$53.1B), followed by Bond (+$17.1B), while Real Estate (−$135M) saw the largest outflows.
- Within the mix, money rotated into US Nasdaq Growth (+$20.0B) and out of Industry Subsector (−$3.2B).
- Relative to fund size, CNEQ drew the largest inflow (+88.9% of AUM) and FTXL the largest outflow (−69.6%).
| # | Ticker | Name | Net flow | % of AUM |
|---|---|---|---|---|
| 1 | QQQ | Invesco QQQ Trust, Series 1 | +$16.16B | +3.4% |
| 2 | VOO | Vanguard S&P 500 ETF | +$15.84B | +1.5% |
| 3 | GLD | SPDR Gold Shares | +$5.8B | +4.2% |
| 4 | SGOV | iShares 0-3 Month Treasury Bond ETF | +$5.8B | +5.7% |
| 5 | SPYM | State Street SPDR Portfolio S&P 500 ETF | +$5.56B | +3.3% |
| 6 | TLT | iShares 20+ Year Treasury Bond ETF | +$5.25B | +12.3% |
| 7 | VTI | Vanguard Morningstar Total Stock Market ETF | +$4.36B | +0.6% |
| 8 | SPY | State Street SPDR S&P 500 ETF | +$4.14B | +0.5% |
| 9 | SCHD | Schwab U.S. Dividend Equity ETF | +$4.06B | +3.8% |
| 10 | QQQM | Invesco NASDAQ 100 ETF | +$3.86B | +3.8% |
| # | Ticker | Name | Net flow | % of AUM |
|---|---|---|---|---|
| 1 | IVV | iShares Core S&P 500 ETF | -$16.29B | -1.8% |
| 2 | IEF | iShares 7-10 Year Treasury Bond ETF | -$4.27B | -9.1% |
| 3 | XLF | State Street Financial Select Sector SPDR ETF | -$1.79B | -3.1% |
| 4 | LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | -$1.59B | -4.8% |
| 5 | IWM | iShares Russell 2000 ETF | -$1.44B | -1.8% |
| 6 | SOXX | iShares Semiconductor ETF | -$1.4B | -3.2% |
| 7 | SMH | VanEck Semiconductor ETF | -$1.39B | -2.0% |
| 8 | MTUM | iShares MSCI USA Momentum Factor ETF | -$1.07B | -4.2% |
| 9 | XLV | State Street Health Care Select Sector SPDR ETF | -$971M | -2.3% |
| 10 | FTXL | First Trust Nasdaq Semiconductor ETF | -$932M | -69.6% |
Largest ETF fund flows across ~2622 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.
About PDBC
| Holdings Count: 2Expense Ratio: 0.74%Inception Date: 2014-11-07 | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETFInvesco Actively Managed Exchange-Traded Commodity Fund Trust- Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF is an exchange traded fund launched and managed by Invesco Capital Management LLC. It invests in the commodity markets. The fund invests directly, through derivatives, and through other funds in commodities. The fund primarily invests in energy, precious metals, industrial metals, and agriculture commodities. It invests through the wholly owned Cayman Islands subsidiary. The fund seeks to benchmark the performance of its portfolio against the MSCI ACWI Index (Net), the Bloomberg Global Aggregate Index, the DBIQ Optimum Yield Diversified Commodity Index Excess Return index and the DBIQ Optimum Yield Diversified Commodity Index Total Return, the MSCI ACWI (Net) and the Bloomberg Global Aggregate Index. Invesco Actively Managed Exchange-Traded Commodity Fund Trust- Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF was formed on November 5, 2014 and is domiciled in the United States.Asset Class: Alternatives | ETF Website |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Profile
| Median | |
|---|---|
| Name | |
| Asset Class | - |
| AUM ($ Bil) | 2.5 |
| Expense Ratio | 0.74% |
| 10-D Avg Volume (Mil) | 1.03 |
| Latest Day Volume (Mil) | 0.34 |
| Holdings Count | 35 |
| Inception Date | - |
Fundamentals
| Median | |
|---|---|
| Name | |
| Net Asset Value | - |
| Premium/Discount | 4.0% |
| Distribution Yield | 5.5% |
| Sales Yield | - |
| Earnings Yield | - |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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