LIVE
DBC
Invesco DB Commodity Index Tracking Fund · Commodities - Broad Commodity / ETF
$27.63
-12.59% this month
VERSUS
⟷
COMPARE
PDBC
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF · Commodities - Broad Commodity / ETF
$16.50
-12.42% this month
Scoreboard verdict
Across expense ratio, momentum, yield, fund size, risk
DBC
0
PDBC
5
Comparison scoreboard
PDBC LEADS 5/5Exp. Ratio
DBC 0.85%
PDBC ✓0.59%
1Y Return
DBC +23.42%
PDBC ✓+23.62%
Div. Yield
DBC 2.53%
PDBC ✓2.90%
AUM
DBC $1.87B
PDBC ✓$6.07B
Beta
DBC 0.11
PDBC ✓0.06
Metrics last refreshed: 6/20/2026
Quick take
DBC vs PDBC Stock Comparison: AI Score, Valuation, Performance and Upside
DBC and PDBC are both Invesco broad commodity ETFs providing diversified exposure to energy, metals, and agricultural commodity futures. The primary practical difference is tax structure — DBC issues K-1 forms (partnership structure) while PDBC is structured to issue standard 1099 forms, making PDBC generally more convenient for retail investors and compatible with tax-advantaged accounts.
DBC vs PDBC is essentially the same commodity exposure offered in two different tax structures — choose DBC for longer-established track record, or PDBC for K-1-free tax simplicity, depending on your account type and tax situation.
Live analysis · updated 6/20/2026
PDBC holds the edge across 5 of 5 key metrics in this comparison. PDBC has delivered stronger 1-year price return (+23.62% vs +23.42% for DBC).
Normalized 1Y performance
DBC
PDBC
Recent returns
DBC
PDBC
Who should consider this stock?
DBC may suit investors who:
- →Want the longest-established broad commodity futures ETF with institutional credibility and track record
- →Are comfortable managing K-1 tax forms and hold DBC in taxable accounts where the complexity is manageable
- →Want Invesco's optimum yield roll strategy for broad commodity diversification across energy, metals, and agriculture
PDBC may suit investors who:
- →Want broad commodity futures exposure without the K-1 tax form complications from DBC's partnership structure
- →Are holding commodity exposure in tax-advantaged accounts (IRA, 401k) where partnership K-1s create UBTI complications
- →Value tax simplicity and standard 1099 reporting as the primary decision factor when choosing between broadly similar commodity exposures
Performance & AI score
| Metric | DBC | PDBC |
|---|---|---|
| ETF score | 41.0 | 42.0 |
| Latest close | $27.63 | $16.50 |
| 1M return | -12.59% | -12.42% |
| 6M return | +24.99% | +26.03% |
| 1Y return | +23.42% | +23.62% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | DBC | PDBC |
|---|---|---|
| 1Y ago | $12.75K (+27.5%) started 2025-06-18 | $12.84K (+28.4%) started 2025-06-18 |
| 5Y ago | $19.71K (+97.1%) started 2021-06-18 | $39.05K (+290.5%) started 2021-06-18 |
| 10Y ago | $25.35K (+153.5%) started 2016-06-20 | $62.01K (+520.1%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Fund characteristics
| Metric | DBC | PDBC |
|---|---|---|
| Expense ratio | 0.85% | 0.59% |
| Total assets (AUM) | $1.87B | $6.07B |
| Dividend yield | 2.53% | 2.90% |
| Trailing P/E | 6.68 | N/A |
| Beta | 0.11 | 0.06 |
| 52-week change | 23.42% | 23.62% |
Risk & fund metrics
| Metric | DBC | PDBC |
|---|---|---|
| 1Y return | +23.42% | +23.62% |
| 6M return | +24.99% | +26.03% |
| 1M return | -12.59% | -12.42% |
| 1Y Sharpe ratio | 0.98 | 0.99 |
| Beta | 0.11 | 0.06 |
| Dividend yield | 2.53% | 2.90% |
| 5Y CAGR | +11.27% | +10.88% |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
DBC max drawdown12.81%
PDBC max drawdown12.74%
DBC max wkly drop6.71%
PDBC max wkly drop6.58%
5Y risk snapshot
DBC max drawdown27.34%
PDBC max drawdown27.63%
DBC max wkly drop12.40%
PDBC max wkly drop12.70%
10Y risk snapshot
DBC max drawdown41.71%
PDBC max drawdown40.73%
DBC max wkly drop13.25%
PDBC max wkly drop13.55%
Performance metrics by period
| Period | Metric | DBC | PDBC |
|---|---|---|---|
| 1Y | Growth | +23.42% | +23.62% |
| CAGR | +23.44% | +23.64% | |
| Sharpe ratio | 0.98 | 0.99 | |
| Max drawdown | 12.81% | 12.74% | |
| Max daily drop | 4.11% | 4.27% | |
| Max wkly drop | 6.71% | 6.58% | |
| 5Y | Growth | +70.53% | +67.61% |
| CAGR | +11.27% | +10.88% | |
| Sharpe ratio | 0.42 | 0.40 | |
| Max drawdown | 27.34% | 27.63% | |
| Max daily drop | 7.94% | 7.87% | |
| Max wkly drop | 12.40% | 12.70% | |
| 10Y | Growth | +112.08% | +106.25% |
| CAGR | +7.81% | +7.51% | |
| Sharpe ratio | 0.26 | 0.24 | |
| Max drawdown | 41.71% | 40.73% | |
| Max daily drop | 7.94% | 7.87% | |
| Max wkly drop | 13.25% | 13.55% |
Fund overview
| Category | DBC | PDBC |
|---|---|---|
| Fund name | Invesco DB Commodity Index Tracking Fund | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF |
| Type | ETF | ETF |
| Expense ratio | 0.85% | 0.59% |
| Total assets (AUM) | $1.87B | $6.07B |
| Dividend yield | 2.53% | 2.90% |
DBC strengths
- →Diversified commodity exposure across energy, metals, and agricultural commodities provides a broad inflation hedge
- →Optimum yield roll strategy attempts to minimize negative roll yield from contango by rolling into the contract with the most favorable forward curve structure
- →One of the most established broad commodity ETFs with a long track record for institutional and retail investors
PDBC strengths
- →No K-1 tax form — issues standard 1099 like a regular ETF, greatly simplifying tax filing for retail investors holding commodity exposure
- →Broad commodity diversification similar to DBC across energy, metals, and agricultural futures
- →Can be held in tax-advantaged accounts (IRA, 401k) without the unrelated business taxable income (UBTI) complications from partnership K-1 structures
Risks to watch — DBC
- →DBC issues K-1 tax forms due to its partnership structure, which creates complexity for retail investors versus standard brokerage 1099 reporting
- →Commodity futures ETFs have complex tax treatment and may not be suitable for tax-advantaged accounts
- →Commodity futures performance can diverge significantly from spot commodity prices due to roll costs in contango markets
Risks to watch — PDBC
- →PDBC may hold commodity exposure through subsidiary structures that add complexity versus direct futures holding in DBC
- →Expense ratio may differ slightly from DBC — investors should compare current expense ratios when choosing
- →Broad commodity ETF performance depends heavily on the commodity cycle and futures curve dynamics that affect all commodity futures products similarly
Frequently asked questions
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