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PDBC vs USG

Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF

PDBCANasdaq

USCF Gold Strategy Plus Income Fund

USGBNYSE Arca

Overlap

Expense ratio

USG −0.14pt a year

PDBC0.59%USG0.45%

Avg volume · 30D

PDBC 1492.8×the volume

PDBC6.31MUSG4.23K

3Y return · a year

USG +3.9pt

PDBC+15.5%USG+19.4%

PDBC vs USG Performance

Oct 31, 2025 – Oct 30, 2026

+53.1%PDBC−6.4%USG

Oct 31, 2025 to Oct 30, 2026. PDBC +53.1%. USG −6.4%. Use the arrow keys to read each point.10%20%30%40%Oct 2025Apr 2026Oct 2026
Expense ratio
PDBC 0.59%
USG 0.45%, better
Fund size
PDBC $8.06B
USG $9M
1Y total return
PDBC +53.1%, better
USG −6.4%
Yield (12M)
PDBC 2.54%
USG 32.00%, better
Holdings
PDBC 3
USG 3
Avg volume (30D)
PDBC 6.31M sh, better
USG 4.23K sh
NAV per share
PDBC $20.12
USG $29.84
52W range

ETF.net Grade

PDBC: Cost 87, Risk 69, Mission not scored, Tradability 90, Holdings not scored, Durability 94. USG: Cost 99, Risk 32, Mission not scored, Tradability 27, Holdings not scored, Durability 39.
Pillar letters and Scores for PDBC, USG, with each pillar’s weight
PillarPDBCUSG
Cost30% weightA87A99Higher
Mission25% weightNot scoredNot scored
Risk15% weightB69HigherD32
Tradability15% weightA90HigherD27
Holdings10% weightNot scoredNot scored
Durability5% weightA94HigherD39

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. PDBC and USG 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 USG 5th 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 4BCMDTPIMCO Commodity Strategy Active Exchange-Traded FundScore 64
  4. Rank 5BUSGUSCF Gold Strategy Plus Income FundScore 62
  5. Rank 6BDBBInvesco DB Base Metals FundScore 61

Our read on each fund

ETF.net Research

PDBCAInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF

USGBUSCF Gold Strategy Plus Income Fund

In short

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.

USG Gold with a paycheck attached. USG holds claims on real gold bars plus collateralized futures, sells call options against that gold, and distributes quarterly, at one of the lowest fees in the commodity-futures crowd.

Stated mandate

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

USG The Fund seeks long-term results that generally correspond to gold-price performance while generating dividend income from selling gold call options and collateral interest. It obtains gold exposure through gold warrants, collateralized futures, and related derivatives.

Why people hold it

  • 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.
  • USG At 0.45% a year it charges well under the 0.79% cohort median, and less than top-ranked commodity peers PDBC, SOYB and WEAT.
  • Gold that throws off cash: the fund writes call options against its gold exposure and earns collateral interest, then pays shareholders quarterly.uscfinvestments.com
  • Exposure comes via COMEX gold warrants (ownership claims on bars in licensed depositories) and fully collateralized futures, actively run through a Cayman subsidiary capped at 25% of assets.alpsinc.com
  • USCF states the fund delivers its gold-plus-income strategy without a K-1, sparing the tax-form headache common to commodity products.uscfinvestments.comalpsinc.com

Worth knowing

  • 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.
  • USG Covered calls swap upside for income. Above the strike plus premium collected, further gold gains go to the option buyer, while the fund keeps the downside if gold slides.alpsinc.com
  • A small fund that trades thinly, so bid-ask spreads can run wider than on the household-name gold ETFs.
  • Payouts can include return of capital, meaning part of a distribution may be capital coming back rather than income the fund earned.

Full PDBC profile⁠

Full USG profile⁠

PDBC vs USG 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.

PDBC vs USG Cost

Overpaying PDBC vs USG

$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%

    $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

Expense ratio

  • 0.59%PDBC
  • 0.45%USG, cheaper
  • Middle half of Commodity Futures funds
  • Median 0.79%

USG cheapest of 13 funds

PDBC 2nd cheapest of 13 funds

PDBC vs USG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
PDBC 2.54%
USG 32.00%, better
Payout (12M)
PDBC $0.51
USG $9.52
Last payment
PDBC $0.51
USG $0.17
Ex-dividend
PDBC Dec 22, 2025
USG Sep 21, 2026
Paid on
PDBC Dec 26, 2025
USG Sep 23, 2026
Frequency
PDBC Annual
USG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

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$102017202020232026YTD
USGQuarterly · 18 paymentsAll USG payments⁠
One bar per payment. 18 payments from 2017 to 2026 YTD. Jun 27, 2022 $0.17; Sep 27, 2022 $0.44; Dec 27, 2022 $0.12; Mar 21, 2023 $0.18; Jun 20, 2023 $0.26; Sep 19, 2023 $0.84; Dec 19, 2023 $0.80; Mar 19, 2024 $0.17; Jun 20, 2024 $0.09; Sep 20, 2024 $1.59; Dec 23, 2024 $0.33; Mar 19, 2025 $0.16; Jun 20, 2025 $0.21; Sep 22, 2025 $0.21; Dec 22, 2025 $8.92; Mar 20, 2026 $0.19; Jun 18, 2026 $0.25; Sep 21, 2026 $0.17. Use the arrow keys to read each point.$0$102017202020232026YTD

PDBC vs USG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PDBC 16.8%, betterUSG 17.1%
Return per unit of riskSharpe ratio, 3 years
PDBC 0.67USG 0.87, better
Worst fallMax drawdown, 5 years
PDBC −27.6%USG −28.8%since Nov 2021
Market sensitivityBeta, 5 years
PDBC 1.06USG 0.28

PDBC and USG in the news

All news⁠

Popular comparisons

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