ETF Evaluator:
Invesco Optm Yd Dvrs Cdty Stra No K1 ETF (PDBC)
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(as of Jul 31)
Best Performing in Commodities Broad Basket Over the Last Year
| 40.7% | VanEck Commodity Strategy ETF (PIT) |
| 34.5% | DB Commodity Long ETN (DPU) |
| 30.7% | First Trust Global Tact Cmdty Strat ETF (FTGC) |
| 29.8% | Harbor Commodity All-Weather StrategyETF (HGER) |
| 29.4% | Neuberger Commodity Stgy ETF (NBCM) |
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ETF Details
Invesco Optm Yd Dvrs Cdty Stra No K1 ETF Overview
Invesco Optm Yd Dvrs Cdty Stra No K1 ETF (PDBC) is an actively managed Commodities Commodities Broad Basket exchange-traded fund (ETF). Invesco launched the ETF in 2014.
The investment seeks long term capital appreciation.
The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing in a combination of financial instruments that are economically linked to the world's most heavily traded commodities. Commodities are assets that have tangible properties, such as oil, agricultural produce or raw metals.
About Invesco Optm Yd Dvrs Cdty Stra No K1 ETF (PDBC)
There are 4 members of the management team with an average tenure of 8.86 years: Peter Hubbard (2014), Theodore Samulowitz (2014), David Hemming (2016) and Dave Sahota (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and Bloomberg Global Aggregate TR USD index with a weighting of 100%. Invesco Optm Yd Dvrs Cdty Stra No K1 ETF has 2 securities in its portfolio. The top 10 holdings constitute 84.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Invesco Optm Yd Dvrs Cdty Stra No K1 ETF is part of the Real Assets global asset class and is within the Commodities ETF group. Invesco Optm Yd Dvrs Cdty Stra No K1 ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco Optm Yd Dvrs Cdty Stra No K1 ETF has 84.1% of the portfolio in cash.
Assets Under Management
The fund has $5 billion in total assets, which is above the $728 million average for the Commodities Broad Basket category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PDBC Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco Optm Yd Dvrs Cdty Stra No K1 ETF expense ratio is average compared to funds in the Commodities Broad Basket category. Invesco Optm Yd Dvrs Cdty Stra No K1 ETF has an expense ratio of 0.59%, which is 11% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco Optm Yd Dvrs Cdty Stra No K1 ETF has a portfolio turnover rate of 18%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 23% for the Commodities Broad Basket category.
Recently, in the month of June 2026, Invesco Optm Yd Dvrs Cdty Stra No K1 ETF returned -9.4%, which earned it a grade of F, as the Commodities Broad Basket category had an average return of -7.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Invesco Optm Yd Dvrs Cdty Stra No K1 ETF has a trailing yield of 3.20%, which is below the 5.45% category average.
The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Invesco Optm Yd Dvrs Cdty Stra No K1 ETF Grades
Year to date, the ETF has returned 19.6%, 5.6 percentage points better than the category, which translates into a grade of A. The fund has returned 26.5% over the past year (grade of B), 9.6% over the past three years (grade of F) and 9.3% per year over the past five years (grade of D) and 7.2% per year over the past 10 years (grade of D).
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PDBC Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PDBC Return (NAV) | -9.4% | -8.0% | 26.5% | 9.6% | 9.3% | 7.2% |
| PDBC Return (Price) | -9.9% | -8.3% | 26.4% | 9.7% | 9.3% | 7.2% |
| NAV +/- Price Return | 0.463% | 0.319% | 0.101% | -0.061% | 0.037% | 0.041% |
| Commodities Broad Basket Avg | -7.8% | -6.4% | 24.6% | 13.0% | 10.4% | 7.2% |
| PDBC Grade (NAV) | F | D | B | F | D | D |
| +/- Category (NAV) | -1.7% | -1.6% | 2.0% | -3.4% | -1.1% | 0.0% |
| PDBC Tax-Cost Ratio | na | na | 1.5% | 1.6% | 5.1% | 3.1% |
PDBC Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PDBC Return (NAV) | 19.6% | 6.2% | 1.9% | -6.0% | 19.3% | 41.9% | -7.9% | 11.6% | -13.2% | 5.3% | 18.8% |
| PDBC Return (Price) | 19.8% | 5.9% | 2.1% | -6.3% | 19.2% | 41.9% | -7.8% | 11.4% | -12.8% | 5.0% | 18.0% |
| NAV +/- Price Ret | 0.014% | -0.052% | 0.073% | 0.044% | -0.002% | -0.000% | -0.002% | -1.5% | -3.2% | -4.7% | -4.2% |
| Commodities Broad Basket Avg | 13.9% | 15.5% | 7.4% | -4.2% | 15.9% | 31.9% | -4.8% | 7.3% | -10.7% | 5.9% | 11.7% |
| PDBC Grade (NAV) | A | F | F | C | B | A | D | B | F | D | A |
| +/- Category | 5.6% | -9.3% | -5.4% | -1.9% | 3.4% | 10.0% | -3.0% | 4.3% | -2.5% | -0.6% | 7.1% |
| Risk Measures | |
| Beta: | 1.06 |
| R-Squared: | 79% |
| Standard Deviation: | 16.0% |
| Category Risk Index: | 1.12 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.31 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 3.2% |
| Total Assets: | $ 5,329 Mil |
| Share Class Assets: | $ 5,329 Mil |
| Turnover: | 18.6% |
| Expense Ratio: | 0.59% |
| Index Fund: | No |
| Index Tracked: | MSCI ACWI NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 11.7 years | |||
| Average Tenure: 8.9 years | |||
| Managers (Year): Hubbard Peter (2014), Samulowitz Theodore (2014), Hemming David (2016), Sahota Dave (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 2 |
| % in Top 10 Holdings: | 84.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 15.9% |
| Cash: | 84.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Invesco |
| Phone Number: | 800-983-0903 |
| Website: | www.invescopowershares.com |
| Inception Date: | November 7, 2014 |
Expenses and Fees
| Expense Ratio (%): | 0.59% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.66% |
