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PDBA

GradeBNASDAQ Global Market

Invesco Agriculture Commodity Strategy No K-1 ETF

Commodities · Invesco · Inception 2022-08-24

$38.18+0.07 (+0.19%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Aug 24, 2022.
Intraday session: up, 54 prints from 38.10 to 38.18. Range 38.02 to 38.18. Use the arrow keys to read each point.$38.00$38.05$38.10$38.1510 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$513M
1Y return
+10.1%
Yield · Last 12 months
2.97%
Holdings
2
Volume · 30D
0.3M sh
NAV per share
$38.29
52W range
low $33.69high $39.41

The ETF.net PDBA Grade

B

58/ 100

Rank 1 of 6 in Agriculture Futures⁠

Confidence Low

Six-pillar profile for PDBA. Scores out of 100: Cost 43, Risk 70, Mission not scored, Tradability 79, Holdings not scored, Durability 64. Strongest: Tradability (79). Weakest: Cost (43). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 58 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 43
    Category rank4/6 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 70
    Category rank1/6 · top 17%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 79
    Category rank2/6 · top 33%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 64
    Category rank2/6 · top 33%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on PDBA

ETF.net Research

BThe broad farm-commodity basket without the partnership paperwork. PDBA tracks a diversified DBIQ agriculture index from inside a 1940 Act fund, which is exactly what the "No K-1" in its name is pointing at.

Stated mandate

The Fund seeks long-term capital appreciation.

Why people hold it

  1. 01One ticket, many crops: it follows the DBIQ Diversified Agriculture Index Excess Return instead of betting on a single commodity the way CORN or CANE do.
  2. 02Registered as a 1940 Act fund rather than a commodity pool, so shareholders skip the Schedule K-1 the fund's own name calls out.
  3. 03Fee sits at 0.75%, right on the category median and below Invesco's older ag fund DBA at 0.90%.

Worth knowing

  1. 010.75% is real money in commodity land. TAGS packages a diversified ag basket for 0.17%.
  2. 02Exposure runs through futures-linked instruments, not farmland or farm companies, so contract pricing and rolls shape the ride as much as crop prices do.
  3. 03Launched in 2022, a short history next to ag funds that have lived through more full commodity cycles.

PDBA Holdings

As of Sep 20, 2026, 1:49 PM
Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
Invesco Premier US Government Money Portfolio81.4%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Invesco Premier US Government Money Portfolio81.39%411,789,556$412M16
002—POWERSHARES CAYMAN FUND18.50%484,325$94M1
003—USD Pending Dividends0.11%0$575K240

Showing 1–3 of 3 holdings

PDBA Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

PDBA$11,007
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. PDBA $11,007. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for PDBA. Periods over one year show the average yearly return.
PeriodPDBA
Year to date+12.1%
1 month+0.7%
3 months+7.2%
1 year+10.1%
3 years+14.0%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for PDBA
YearReturn barPDBA
2026 YTD+12.1%
2025−0.8%
2024+34.2%
2023+7.8%
2022−1.6%

Since listing, Aug 24, 2022

PDBA in the news

PDBA Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
2.97%Last 12 months
Payout per share
$1.13Last 12 months
Last payment
$1.13 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2022–2026

One bar per payment. 4 payments from 2022 to 2026 YTD. Dec 19, 2022 $0.22; Dec 18, 2023 $2.04; Dec 23, 2024 $4.61; Dec 22, 2025 $1.13. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$1.13
Dec 23, 2024Dec 27, 2024$4.61
Dec 18, 2023Dec 22, 2023$2.04
Dec 19, 2022Dec 23, 2022$0.22

PDBA Risk

How much the fund’s monthly returns vary, scaled to a year.
12.4%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.84
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−12.5%
48 months · trough Aug 2024
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.33
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

PDBA Cost

Expense ratio0.75%
  • The middle half of Agriculture Futures funds
  • Median 0.68%

3 of the 6 Agriculture Futures funds charge less.

PDBA costs $75.00 a year on $10,000. The median Agriculture Futures fund costs $68.00.