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DBB vs PDBC

Invesco DB Base Metals Fund

DBBBNYSE Arca

Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF

PDBCANasdaq

Overlap

Expense ratio

PDBC −0.22pt a year

DBB0.81%PDBC0.59%

Avg volume · 30D

PDBC 31.5×the volume

DBB201KPDBC6.31M

10Y return · a year

PDBC +2.3pt

DBB+7.6%PDBC+9.9%

DBB vs PDBC Performance

Oct 29, 2021 – Oct 30, 2026

+35.3%DBB+78.6%PDBC

Oct 29, 2021 to Oct 30, 2026. DBB +35.3%. PDBC +78.6%. Use the arrow keys to read each point.−20%0%20%60%Oct 2021Apr 2024Oct 2026
Expense ratio
DBB 0.81%
PDBC 0.59%, better
Fund size
DBB $321M
PDBC $8.06B
1Y total return
DBB +16.2%
PDBC +53.1%, better
Yield (12M)
DBB 2.42%
PDBC 2.54%, better
Holdings
DBB 10
PDBC 3
Avg volume (30D)
DBB 201K sh
PDBC 6.31M sh, better
NAV per share
DBB $24.87
PDBC $20.12
52W range

ETF.net Grade

DBB: Cost 46, Risk 65, Mission not scored, Tradability 82, Holdings 29, Durability 80. PDBC: Cost 87, Risk 69, Mission not scored, Tradability 90, Holdings not scored, Durability 94.
Pillar letters and Scores for DBB, PDBC, with each pillar’s weight
PillarDBBPDBC
Cost30% weightC46A87Higher
Mission25% weightNot scoredNot scored
Risk15% weightB65B69Higher
Tradability15% weightA82A90Higher
Holdings10% weightD29Not scored
Durability5% weightA80A94Higher

Rank among Commodity Futures funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DBB and PDBC are both graded against the same 13 Commodity Futures funds, so their Grades compare head to head.

Commodity Futures⁠

Category · 13 funds
See all 13 ›

PDBC ranks 1st and DBB 6th of 13 funds in the Commodity Futures Category.

  1. Rank 1APDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETFScore 84
  2. Rank 2BSOYBTeucrium Soybean FundScore 65
  3. Rank 5BUSGUSCF Gold Strategy Plus Income FundScore 62
  4. Rank 6BDBBInvesco DB Base Metals FundScore 61
  5. Rank 7CACOMHarbor Active Commodity ETFScore 42

Our read on each fund

ETF.net Research

DBBBInvesco DB Base Metals Fund

PDBCAInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF

In short

DBB The metals that build things, not the ones that sit in vaults. Since 2007 DBB has held futures on industrial metals like copper, aluminum and zinc, with a roll rule that hunts for the best-priced contract instead of always buying the nearest one.

PDBC Broad 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

DBB The fund is designed to track the DBIQ Optimum Yield Industrial Metals Index Excess Return, which reflects changes in the market value of the base-metals sector.

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

Why people hold it

  • DBB A clean industrial-metals basket: futures on liquid base metals such as aluminum, zinc and copper, with no gold or oil muddying the signal.sec.gov
  • The Optimum Yield roll picks contracts to limit losses when the futures curve slopes up and to capture the benefit when it slopes down, rather than defaulting to the front month.sec.govinvesco.com
  • Trading since January 2007 through several full commodity cycles, and one of the steadier, more liquid names in its futures-commodity peer group.
  • Expense ratio of 0.81%, sitting right at the middle of the futures-based commodity pack (PDBC 0.74%, HARD 0.78%).
  • PDBC 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

  • DBB It is a commodity pool, so tax time brings a Schedule K-1 instead of a 1099. Peers like PDBC are built specifically to avoid that paperwork.invesco.com
  • Base metals track the global industrial cycle, and the prospectus materials describe the futures markets the fund trades as volatile and speculative.sec.gov
  • Invesco updated the underlying index methodology in November 2025 (wider eligible commodity list, liquidity screens, weight caps), so the metals mix can differ from the historic lineup.invesco.com
  • PDBC 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.

Full DBB profile⁠

Full PDBC profile⁠

DBB vs PDBC Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DBB vs PDBC Cost

Overpaying DBB vs PDBC

$3,883

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

  • DBB 0.81%

    $15,518

  • PDBC 0.59%

    $11,635

$10,000
30 years

Cost over time

  • DBB 0.81%
  • PDBC 0.59%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DBB $15,518PDBC $11,635

Year by year

YearDBBPDBCOverpaying
10$1,439$1,058$381
20$5,456$4,051$1,405
30$15,518$11,635$3,883

Expense ratio

  • 0.81%DBB
  • 0.59%PDBC, cheaper
  • Middle half of Commodity Futures funds
  • Median 0.79%

PDBC 2nd cheapest of 13 funds

DBB 8th cheapest of 13 funds

DBB vs PDBC Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DBB 2.42%
PDBC 2.54%, better
Payout (12M)
DBB $0.60
PDBC $0.51
Last payment
DBB $0.60
PDBC $0.51
Ex-dividend
DBB Dec 22, 2025
PDBC Dec 22, 2025
Paid on
DBB Dec 26, 2025
PDBC Dec 26, 2025
Frequency
DBB Annual
PDBC Annual

Distribution history

Per share, 2017 to 2026, same scale for both

DBBAnnual · 6 paymentsAll DBB payments⁠
One bar per payment. 6 payments from 2017 to 2026 YTD. Dec 24, 2018 $0.24; Dec 23, 2019 $0.27; Dec 19, 2022 $0.18; Dec 18, 2023 $1.32; Dec 23, 2024 $0.90; Dec 22, 2025 $0.60. Use the arrow keys to read each point.$0$52017202020232026YTD
PDBCAnnual · 10 paymentsAll PDBC payments⁠
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.$0$52017202020232026YTD

DBB vs PDBC Risk

Fall from peak · 5 years

  • DBB
  • PDBC
Oct 29, 2021 to Oct 30, 2026. Worst fall: DBB −35.0% · Sep 2022. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
DBB 15.2%, betterPDBC 16.8%
Return per unit of riskSharpe ratio, 3 years
DBB 0.77, betterPDBC 0.67
Worst fallMax drawdown, 5 years
DBB −35.0%PDBC −27.6%, better
Market sensitivityBeta, 5 years
DBB 0.49PDBC 1.06

DBB and PDBC in the news

All news⁠

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