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Trending ETFs

Name

As of 02/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$13.25

$5.62 B

4.23%

$0.56

0.64%

Vitals

YTD Return

-0.4%

1 yr return

-2.6%

3 Yr Avg Return

11.5%

5 Yr Avg Return

8.0%

Net Assets

$5.62 B

Holdings in Top 10

98.2%

52 WEEK LOW AND HIGH

$13.1
$13.13
$15.34

Expenses

OPERATING FEES

Expense Ratio 0.64%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 02/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$13.25

$5.62 B

4.23%

$0.56

0.64%

PDBC - Profile

Distributions

  • YTD Total Return -0.4%
  • 3 Yr Annualized Total Return 11.5%
  • 5 Yr Annualized Total Return 8.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.53%
DIVIDENDS
  • Dividend Yield 4.2%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF
  • Fund Family Name
    INVESCOETF
  • Inception Date
    Nov 07, 2014
  • Shares Outstanding
    478704000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Peter Hubbard

Fund Description

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.
Under normal circumstances, the Fund invests, either directly or through a wholly-owned subsidiary (the “Subsidiary”), in a combination of three categories of investments: (i) exchange-traded futures contracts on underlying commodities (“Commodities Futures”); (ii) other instruments whose value is derived from or linked to price movements of underlying physical commodities, represented by exchange-traded futures contracts on commodity indices, commodity-linked notes, exchange-traded options on Commodities Futures, swaps on commodities and commodity- related forward contracts (collectively, these are “Commodity-Linked Instruments”); and (iii) cash, cash-like instruments or high-quality securities (collectively, “Collateral”).The Collateral may consist of (1) U.S. Government securities, such as bills, notes and bonds issued by the U.S. Treasury; (2) money market funds; and/or (3) corporate debt securities, such as commercial paper and other short-term unsecured promissory notes issued by businesses that are rated investment grade or determined by the Adviser to be of comparable quality. Such Collateral is designed to provide liquidity, serve as margin or otherwise collateralize investments in the Commodities Futures and Commodity-Linked Instruments.
The Fund will not invest directly in physical commodities, Commodities Futures or Commodity-Linked Instruments. Instead, the Fund attempts to obtain investment returns that are highly correlated to the commodities markets by investing in these instruments indirectly through its Subsidiary. The Fund’s investment in the Subsidiary is expected to provide the Fund with exposure to Commodities Futures and Commodity-Linked Instruments in accordance with the limits of the federal tax laws, which limit the ability of investment companies like the Fund to invest directly in such investments. The Fund’s investment in the Subsidiary may not exceed 25% of the Fund’s total assets at each quarter-end of the Fund’s fiscal year. The Subsidiary operates under Cayman Islands law. It is wholly-owned and controlled by the Fund and advised by the Adviser. The Subsidiary has the same investment objective as the Fund and will follow the same general investment policies and restrictions, except that unlike the Fund, it may invest without limit in Commodities Futures and Commodity-Linked Instruments. Except as noted, for purposes of this Prospectus, references to the Fund’s investment strategies and risks include those of its Subsidiary.
The Subsidiary will invest in Commodities Futures (or gain exposure to Commodities Futures through the use of swaps) that generally are representative of the components of the DBIQ Optimum Yield Diversified Commodity Index Excess Return (the “Benchmark”), an index composed of futures contracts on 14 of the most heavily traded commodities across the energy, precious metals, industrial metals and agriculture sectors: aluminum, Brent crude oil, copper, corn, gold, New York Harbor Ultra Low Sulphur Diesel (“NY Harbor ULSD” previously referred to as Heating Oil), WTI crude oil, natural gas, “RBOB” gasoline, silver, soybeans, sugar, wheat and zinc. Although the Subsidiary generally provides exposure to the components of the Benchmark, the Fund is not an “index tracking” ETF and instead seeks to exceed the performance of the Benchmark. Therefore, the Subsidiary may not seek exposure to all of the Benchmark’s components or in the same proportion as the Benchmark. The Subsidiary may invest in Commodities Futures (or gain exposure to such Commodities Futures through the use of swaps) that are not included in the Benchmark, but reference a commodity represented in the Benchmark by a different futures contract. At times, it also may invest in Commodities Futures outside the
Benchmark, invest in Commodities Futures with expirations beyond those contained in the Benchmark or emphasize some commodity sectors more than others.
The Subsidiary also invests a portion of its assets in Commodity-Linked Instruments to seek to increase its investment returns or hedge against declines in the value of its other investments. Although the Fund does not seek leveraged returns, investing in Commodity-Linked Instruments may have a leveraging effect on the Fund. The Commodity-Linked Instruments may be exchange-traded or traded over-the-counter (“OTC”).
Because the Fund intends to qualify as a regulated investment company(“RIC”) under the Internal Revenue Code of 1986, as amended (“Code”), the Fund’s investments in the Subsidiary and Commodities Futures are limited by certain requirements of the Code and related Internal Revenue Service regulations. Accordingly, the Fund (and the Subsidiary, as applicable) invests its remaining assets directly in Collateral, which consists of high-quality securities such as U.S. Treasuries, other U.S. Government obligations, money market funds, cash and cash-like equivalents (e.g., high quality commercial paper and similar instruments that are rated investment grade or, if unrated, of comparable quality as the Adviser may determine) that provide liquidity, serve as margin or collateralize the Subsidiary’s investments in Commodities Futures and Commodity-Linked Instruments.
The phrase “No K-1“ in the Fund’s name means that the Fund does not issue a Schedule K-1, which is the tax reporting form issued by commodities partnerships. Schedule K-1 typically presents additional complexities. Instead, like most other ETFs, the Fund reports income on Form 1099.
As of October 31, 2022, the Fund had significant exposure to the energy sector. The Fund’s portfolio holdings, and the extent to which it concentrates its investments, are likely to change over time.
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PDBC - Performance

Return Ranking - Trailing

Period PDBC Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -23.0% 9.2% 33.58%
1 Yr -2.6% -56.4% 28.4% 41.79%
3 Yr 11.5%* -27.7% 291.9% 21.97%
5 Yr 8.0%* -30.9% 129.8% 32.81%
10 Yr N/A* -27.6% 44.5% 35.29%

* Annualized

Return Ranking - Calendar

Period PDBC Return Category Return Low Category Return High Rank in Category (%)
2023 -10.0% -64.0% 30.1% 57.46%
2022 5.1% -45.7% 2475.6% 25.56%
2021 -7.9% -23.3% 106.7% 80.30%
2020 -7.9% -71.9% 295.5% 75.19%
2019 9.9% -31.8% 53.9% 29.69%

Total Return Ranking - Trailing

Period PDBC Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -23.0% 9.2% 33.58%
1 Yr -2.6% -56.4% 28.4% 41.79%
3 Yr 11.5%* -27.7% 291.9% 21.97%
5 Yr 8.0%* -30.9% 129.8% 32.81%
10 Yr N/A* -27.6% 44.5% N/A

* Annualized

Total Return Ranking - Calendar

Period PDBC Return Category Return Low Category Return High Rank in Category (%)
2023 -6.3% -64.0% 41.1% 53.73%
2022 19.2% -15.1% 5648.8% 21.80%
2021 41.9% -23.3% 188.1% 12.12%
2020 -7.8% -67.8% 296.1% 76.74%
2019 11.4% -31.8% 53.9% 40.63%

PDBC - Holdings

Concentration Analysis

PDBC Category Low Category High PDBC % Rank
Net Assets 5.62 B 2.34 M 52.5 B 7.23%
Number of Holdings 29 1 1048 69.34%
Net Assets in Top 10 5.8 B 2.66 M 63.2 B 3.65%
Weighting of Top 10 98.21% 23.0% 157.4% 24.24%

Top 10 Holdings

  1. Invesco Premier U.S. Government Money Portfolio, Institutional Class 44.76%
  2. U.S. Treasury Bills 16.86%
  3. U.S. Treasury Bills 16.63%
  4. U.S. Treasury Bills 10.13%
  5. Invesco US Dollar Liquidity Portfolio, Institutional Class 9.70%
  6. LME Copper Future 0.05%
  7. Natural Gas Future 0.04%
  8. Sugar No. 11 Future 0.02%
  9. LME Primary Aluminum Future 0.01%
  10. Corn Future 0.00%

Asset Allocation

Weighting Return Low Return High PDBC % Rank
Cash
57.23% 0.00% 100.26% 25.19%
Bonds
43.62% 0.00% 105.95% 37.23%
Stocks
0.00% 0.00% 53.33% 69.34%
Preferred Stocks
0.00% 0.00% 0.06% 57.78%
Convertible Bonds
0.00% 0.00% 3.89% 68.66%
Other
-0.85% -47.59% 100.21% 67.41%

Bond Sector Breakdown

Weighting Return Low Return High PDBC % Rank
Cash & Equivalents
54.46% 0.00% 100.26% 44.26%
Government
45.17% 0.00% 100.00% 24.79%
Securitized
0.00% 0.00% 36.61% 70.25%
Corporate
0.00% 0.00% 42.72% 74.38%
Municipal
0.00% 0.00% 1.45% 59.50%
Derivative
-0.85% -10.00% 100.21% 51.64%

Bond Geographic Breakdown

Weighting Return Low Return High PDBC % Rank
US
43.62% 0.00% 103.88% 37.78%
Non US
0.00% 0.00% 21.42% 60.00%

PDBC - Expenses

Operational Fees

PDBC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.64% 0.21% 4.07% 90.74%
Management Fee 0.59% 0.00% 1.75% 37.35%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.45% N/A

Sales Fees

PDBC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

PDBC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PDBC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 162.00% N/A

PDBC - Distributions

Dividend Yield Analysis

PDBC Category Low Category High PDBC % Rank
Dividend Yield 4.23% 0.00% 21.91% 10.24%

Dividend Distribution Analysis

PDBC Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Annually Annually

Net Income Ratio Analysis

PDBC Category Low Category High PDBC % Rank
Net Income Ratio -0.53% -55.71% 52.26% 49.25%

Capital Gain Distribution Analysis

PDBC Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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PDBC - Fund Manager Analysis

Managers

Peter Hubbard


Start Date

Tenure

Tenure Rank

Nov 07, 2014

7.57

7.6%

Peter Hubbard, Vice President and Director of Portfolio Management of the Invesco PowerShares Capital Management LLC. Mr. Hubbard has been a Portfolio Manager of the Adviser since June 2007 and has been associated with the Adviser since 2005. Prior to joining the Invesco PowerShares Capital Management LLC, Hubbard was a research analyst and trader for Ritchie Capital from September 2003 to May 2005.

Theodore Samulowitz


Start Date

Tenure

Tenure Rank

Nov 07, 2014

7.57

7.6%

Theodore Samulowitz is a Vice President and Portfolio Manager of Invesco PowerShares Capital Management LLC. He has been a Portfolio Manager of Invesco PowerShares Capital Mgmt LLC since May 2012. Prior to that, he was the Managing Partner of Endurance Capital Markets LLC from 2010 to May 2012 and a Portfolio Manager of CMT Asset Management from 2006 to 2010.

David Hemming


Start Date

Tenure

Tenure Rank

Sep 21, 2016

5.69

5.7%

David Hemming, Senior Portfolio Manager of the Invesco Capital Management LLC, Commodities and Alternatives.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 17.03 5.76 11.51