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PDBC

GradeANASDAQ Global Market

Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF

Commodities · Invesco · Inception 2014-11-07 · SEC filings

$19.54+0.17 (+0.90%)

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

Intraday session: up, 59 prints from 19.36 to 19.54. Range 19.42 to 19.59. Use the arrow keys to read each point.$19.40$19.45$19.50$19.6010 AM12 PM2 PM4 PM
Expense ratio
0.74%
Fund size
$7.8B
1Y return
+51.7%
Yield · Last 12 months
2.63%
Holdings
2
Volume · 30D
6.5M sh
NAV per share
$19.46
52W range
low $13.11high $20.16

The ETF.net PDBC Grade

A

78/ 100

Rank 1 of 15 in Commodity Futures⁠

Confidence Medium

Six-pillar profile for PDBC. Scores out of 100: Cost 75, Risk 63, Mission not scored, Tradability 94, Holdings not scored, Durability 95. Strongest: Durability (95). Weakest: Risk (63). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 78 of 100 sits in the A 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.
    AScore 75
    Category rank5/15 · top 33%

  • 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.
    BScore 63
    Category rank5/15 · top 33%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 94
    Category rank1/15 · top 7%

  • 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.
    AScore 95
    Category rank1/15 · top 7%

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

Our read on PDBC

ETF.net Research

ABroad commodity exposure without the K-1 paperwork. Trading since 2014, PDBC packages a diversified futures basket inside an ordinary fund wrapper and aims to beat its commodity benchmark rather than simply mirror it.

Stated mandate

The fund seeks to outperform the excess-return version of its benchmark through a diversified commodity strategy.

Why people hold it

  1. 01The K-1 dodge is right there in the name. It is built as a 1940 Act fund, not a commodity partnership.invesco.com
  2. 020.74% a year, below the typical fee among commodity futures funds.
  3. 03A multi-billion-dollar fund and one of the busiest tickers in the commodity aisle, which tends to show up as tight spreads for buyers and sellers.
  4. 04Live since 2014 and one of the strongest implementations in its commodity futures peer group.

Worth knowing

  1. 01Commodities swing. Energy, metals and crops can move hard in both directions, and this basket rides every one of those moves.
  2. 02The mandate is to beat the benchmark, not hug it, so results can diverge from the index it measures itself against.invesco.com
  3. 03Payouts are lumpy by design: distributions land annually or semiannually, not on a monthly drip.

PDBC Holdings

As of Sep 20, 2026, 1:40 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 Portfolio81.45%6,411,271,368$6.4B16
002—POWERSHARES CAYMAN FUND18.41%387,352,836$1.4B1
003—USD Pending Dividends0.14%0$11M240

Showing 1–3 of 3 holdings

PDBC Performance

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

PDBC$15,171
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. PDBC $15,171. SPY $11,723. Use the arrow keys to read each point.$9,034$12,641$16,249Sep 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 PDBC. Periods over one year show the average yearly return.
PeriodPDBC
Year to date+46.1%
1 month+3.8%
3 months+18.3%
1 year+51.7%
3 years+13.1%per year
5 years+13.4%per year
10 years+9.7%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 PDBC
YearReturn barPDBC
2026 YTD+46.1%
2025+5.9%
2024+2.1%
2023−6.3%
2022+19.2%
2021+41.9%
2020−7.8%

PDBC in the news

PDBC 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.
2.63%Last 12 months
Payout per share
$0.51Last 12 months
Last payment
$0.51 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2017–2026

One bar per payment. 10 payments from 2017 to 2026 YTD. Dec 18, 2017 $0.67; Dec 24, 2018 $0.15; Dec 23, 2019 $0.23; Dec 21, 2020 $0.001; Dec 3, 2021 $5.39; Dec 20, 2021 $1.76; Dec 19, 2022 $1.93; Dec 18, 2023 $0.56; Dec 23, 2024 $0.57; Dec 22, 2025 $0.51. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$0.51
Dec 23, 2024Dec 27, 2024$0.57
Dec 18, 2023Dec 22, 2023$0.56
Dec 19, 2022Dec 23, 2022$1.93
Dec 20, 2021Dec 31, 2021$1.76
Dec 3, 2021Dec 10, 2021$5.39
Dec 21, 2020Dec 31, 2020$0.001
Dec 23, 2019Dec 31, 2019$0.23
Dec 24, 2018Dec 31, 2018$0.15
Dec 18, 2017Dec 29, 2017$0.67
Dec 16, 2016Dec 30, 2016$1.12

PDBC Risk

How much the fund’s monthly returns vary, scaled to a year.
16.8%
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.
0.52
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.
−27.6%
Trough Sep 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.
1.06
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.

PDBC Cost

Expense ratio0.74%
  • The middle half of Commodity Futures funds
  • Median 0.79%

3 of the 13 Commodity Futures funds charge less.

PDBC costs $74.00 a year on $10,000. The median Commodity Futures fund costs $79.00.