PDBC

Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF
B

N/A
*Unless otherwise stated, data provided by FactSet.

PDBC Fund Description

PDBC holds a diverse basket of commodity futures and aims to mitigate negative roll yield in its contract selection. The fund is structured as an ETF and is actively managed.

PDBC Factset Analytics Insight

PDBC offers a quasi-active broad-commodity strategy, delivered in a 1940-Act, plain-Jane ETF wrapper. PDBC investors therefore avoid K-1s, mark-to-market capital gains taxes, and counterparty risk, instead relying on the fund's investment in an offshore subsidiary to gain commodity exposure. PDBC's commodity portfolio is nearly identical to that of sister fund DBC, a giant in the segment, known for its "optimized" strategy of selecting futures contracts to mitigate contango. PDBC explicitly references DBC's underlying index, but says its active managers aim to beat it. Still, it may be that the fund claims active management simply for regulatory reasons. Popular with traders, PDBC trades in strong volumes with small spreads, and underlying liquidity is excellent for larger investors. PDBC charges a reasonable fee, which is notably less than DBC’s.

PDBC CHARTS AND PERFORMANCE

Price Chart ($)
Total Return Chart (%)
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
COMPARE
RESET
Select ETFs to compare their performance:
PERFORMANCE [as of 12/13/18] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
PDBC -2.17% -10.23% -6.93% -1.86% 4.51% -- --
PDBC (NAV) -2.59% -10.23% -7.25% -1.73% 4.57% -- --
No Underlying Index -- -- -- -- -- -- --
S&P GSCI -3.00% -11.00% -5.05% 1.09% 3.55% -12.62% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

PDBC Top 10 Holdings

PDBC Summary Data

Invesco
11/07/14
Open-Ended Fund
0.59%
$2.04B
$27.55M
0.06%

PDBC Portfolio Data

Futures
Optimized
N/A
--

PDBC Index Data

No Underlying Index
Proprietary
Proprietary
S&P GSCI

PDBC Portfolio Management

0.59%
--
--
--

PDBC Tax Exposures

20.00% / 39.60%
--
No

PDBC Fund Structure

Open-Ended Fund
No
No
N/A
N/A
Low
Daily
Bats Book Viewer
TOP OF BOOK
LAST 10 TRADES
Bats BZX Real-time Quote -
Daily Spread
Premium/Discount
Volume

PDBC Factset Analytics Block Liquidity

As of 12/14/18
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of PDBC. PDBC is rated a 5 out of 5.

PDBC Tradability

1,614,592
$27.55M
1,315,620
$22.02M
0.06%
$0.01
0.04%
0.70% / -0.76%
None
100.00%
100,000
13.16
0.03%
--
--
$16.22
5

PDBC TOP 10 TARGETED COMMODITY WEIGHTS

20.66%
16.34%
16.03%
10.92%
9.14%
9.03%
3.81%
2.76%
100%

PDBC Tenor Strategy

PDBC's optimized tenor selection uses a rules-based strategy for choosing contracts over the next 13 months that will give the best possible implied roll yield.

PDBC Rolling Strategy

PDBC rolls contracts between the 2nd and 6th business days each month.

PDBC Performance Statistics

0.96
0.85
0.00
0.00
0.00%