ETF Versus

DBC vs PDBC

Invesco DB Commodity Index Tracking Fund vs Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF

Last updated: 2026-04-02

DBC

Invesco DB Commodity Index Tracking Fund (DBC) is an exchange-traded fund that provides exposure to broad commodities securities. It charges a high expense ratio of 0.84%. The fund offers an attractive dividend yield of 2.60%. Launched in 2006, the fund has a 20-year track record.

AUM: $1.7B ER: 0.84% Yield: 2.60% Since: Feb 3, 2006

Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is an exchange-traded fund that provides exposure to broad commodities securities. It charges a high expense ratio of 0.59%. The fund offers an attractive dividend yield of 2.97%. Launched in 2014, the fund has a 12-year track record.

AUM: $6.4B ER: 0.59% Yield: 2.97% Since: Nov 7, 2014

Quick Verdict

PDBC is significantly cheaper at 0.59% vs 0.84% expense ratio, saving you approximately $471 per $10,000 invested over 10 years. DBC has edged ahead over the past year (27.4% vs 25.3%).

Key Metrics

Metric DBC PDBC
Expense Ratio 0.84% 0.59%
Dividend Yield 2.6% 3.0%
Fund Family N/A N/A
Category Broad Commodities Broad Commodities

Performance Chart

Indexed to 100 at start (5-year comparison)

70 93 116 139 162 185 2021-04 2022-06 2023-09 2024-12 2026-04
DBC +72.4%
PDBC -0.9%

Performance Comparison

Period DBC PDBC Difference
1 Month +11.12% +11.33% -0.21%
3 Months +28.09% +28.77% -0.68%
6 Months +27.98% +28.09% -0.11%
YTD +28.09% +28.77% -0.68%
1 Year +27.41% +25.27% +2.14%
3 Years +18.86% +18.26% +0.60%
5 Years +72.36% -0.93% +73.29%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period DBC Fees PDBC Fees You Save
$10.000 10 years $1.622 $1.151 $471
$10.000 20 years $6.739 $4.837 $1.902
$10.000 30 years $21.014 $15.249 $5.765
$50.000 10 years $8.108 $5.754 $2.354
$50.000 30 years $105.070 $76.247 $28.823
$100.000 30 years $210.141 $152.494 $57.646

Risk Metrics

Based on 5 years of daily returns

Metric DBC PDBC
Annualized Volatility 19.2% 23.8%
Max Drawdown -34.0% -46.2%
Sharpe Ratio 0.43 -0.07

Dividend Comparison

Metric DBC PDBC
Annual Dividend (per share) $0.74 $0.51
Dividend Yield 2.59% 2.98%
Distribution Frequency Semi-Annual or Annual Semi-Annual or Annual

Top Holdings

DBC Top Holdings

NameWeight
Short-Term Investment Trust - Invesco Government & Agency Portfolio!mutf/AGPXX40.03%
Brent Crude Future June 26CO308.98%
Invesco Short Term Treasury ETF#TBLL6.81%

Which One Should You Choose?

Choose PDBC if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose DBC if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Choose PDBC if...

you prioritize dividend income and want higher regular distributions from your portfolio.

Either works if...

you just need broad broad commodities exposure. Both are solid options — pick whichever your brokerage offers commission-free.

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