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Launched · SEC filings

Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF

PDBCNasdaqInvescoA

$19.36−0.66 (−3.30%)

At close: Nov 2, 2026, 4:00 PM ET

A83/ 100

Rank 1 of 14 in Commodity Futures

A83/100Rank 1 of 14inCommodity Futures
Intraday session: down, 79 prints from 20.02 to 19.36. Range 19.30 to 19.57. Use the arrow keys to read each point.19.6019.8010 AM12 PM2 PM4 PM
Expense ratio
0.59%*
Fund size
$8.06B
1Y total return
+48.0%
Yield · Last 12 months
2.63%
Holdings
3
Avg volume · 30D
6.31M sh
52W range
low $13.22high $20.36
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Aug 31, 2027. Without it: 0.74%.

The ETF.net PDBC Grade

Based on 4 of 6 pillars

A

Score 83 out of 100

Category
Commodity Futures⁠
Rank
1 of 14
Six-pillar profile for PDBC. Scores out of 100: Cost 87, Risk 68, Mission not scored, Tradability 87, Holdings not scored, Durability 94. Strongest: Durability (94). Weakest: Risk (68). Based on 4 of 6 pillars.

Score 83 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A87 out of 100
    Rank 2 of 14

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B68 out of 100
    Rank 3 of 14

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A87 out of 100
    Rank 1 of 14

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A94 out of 100
    Rank 1 of 14

Our read on PDBC

ETF.net Research

In short

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

  • The K-1 dodge is right there in the name. It is built as a 1940 Act fund, not a commodity partnership.invesco.com
  • 0.74% a year, below the typical fee among commodity futures funds.
  • A 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.
  • Live since 2014 and one of the strongest implementations in its commodity futures peer group.

Worth knowing

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

PDBC Holdings

Asset class
Other
Holdings
3
Top-10 weight
100%
Largest holding
Invesco Premier US Government Money Portfolio80.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataInvesco Premier US Government Money Portfolio80.01%6,452,944,540$6.45B16
2No dataPowershares Cayman Fund19.74%387,352,836$1.59B1
3No dataUSD Pending Dividends0.25%0$20.1M239

Showing 1–3 of 3 holdings

PDBC Performance

Launched Nov 7, 2014

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

PDBC$14,803
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. PDBC $14,803. SPY $11,146. Use the arrow keys to read each point.$10,000$12,000$14,000$16,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 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−0.4%
3 months+10.3%
1 year+48.0%
3 yearsper year+13.8%
5 yearsper year+11.4%
10 yearsper year+9.6%

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 Nov 2, 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

$10,000 in PDBC 10 years ago paid $7,537 in dividends.

PDBC Risk

Risk pillarB68 out of 100Rank 3 of 14 in Commodity Futures
How much the fund’s monthly returns vary, scaled to a year.
16.8%
Annualised · 36 months to Oct 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.
0.67
vs 3-month T-bills · to Oct 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.

FMP measures it over up to five years of monthly returns.

PDBC Cost

Compare PDBC and USG

Overpaying vs USG, cheapest in Commodity Futures

$2,594

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PDBC 0.59%

    $11,635

  • USG 0.45% Cheapest

    $9,041

$10,000
30 years

Cost over time

  • PDBC 0.59%
  • USG 0.45%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530PDBC $11,635USG $9,041

Year by year

YearPDBCUSGOverpaying
10$1,058$812$246
20$4,051$3,128$923
30$11,635$9,041$2,594
How the 0.59% is worked out

Full fee 0.74%− waiver 0.15%= you pay 0.59%

The waiver ends Aug 31, 2027. After that the fee is 0.74% unless Invesco renews it. Source: prospectus, Feb 2026.

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