DBA vs PDBA
Invesco DB Agriculture Fund vs Invesco Agriculture Commodity Strategy No K-1 ETF
Which is better, DBA or PDBA?
Nearly the same fund. PDBA costs less.
PDBA has a lower expense ratio. DBA led over 1Y, PDBA over 3Y and the full window. The two have moved almost in lockstep, correlation 0.98.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DBA | PDBA |
|---|---|---|
| Expense Ratio | 0.88% | 0.59%Best |
| AUM | $1.4B | $489M |
| Dividend Yield | 3.11% | 2.89% |
| Holdings | 64 | 17 |
| YTD Return | +11.23% | +11.35%Best |
| 1Y Return | +11.53%Best | +11.43% |
| 3Y Return (annualized) | +12.37% | +13.99%Best |
| 5Y Return (annualized) | +10.20% | - |
| Volatility (annualized) | 11.3%Tie | 11.3%Tie |
| Max Drawdown | -12.4%Tie | -12.4%Tie |
| $10,000 over 4.1 years | $14,953 | $15,689Best |
| Fund Family | Invesco (US) | Invesco (US) |
| Category | Commodity | Commodity |
| Style | Agriculture | Agriculture |
| Inception | Jan 5, 2007 | Aug 24, 2022 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.1 years row, are measured over the window both funds cover: Aug 24, 2022 to Oct 13, 2026 (4.1 years).
DBA vs PDBA growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4.1 years both funds cover.
DBA vs PDBA Performance
Invesco DB Agriculture Fund (DBA) is an ETF from Invesco (US) and Invesco Agriculture Commodity Strategy No K-1 ETF (PDBA) is an ETF from Invesco (US). Over the past year DBA returned +11.53% while PDBA returned +11.43%. Year to date, DBA is up 11.23% versus a gain of 11.35% for PDBA.
Over three years, DBA compounded at +12.37% per year against +13.99% for PDBA. Across the full 4-year window we track, PDBA has the edge at +11.61% annualized vs +10.31%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DBA and PDBA have been equally volatile, both at 11.3% annualized.
The deepest peak-to-trough decline in our data was -12.4% for DBA and -12.4% for PDBA. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DBA charges 0.88% per year while PDBA charges 0.59%. On a $10,000 position that is $88 vs $59 annually, a gap of $29 per year that compounds over a long holding period. On income, DBA currently yields 3.11% against 2.89% for PDBA.
Holdings Overlap
We hold position weights for 2 holdings in DBA and 1 in PDBA, totalling 99.9% and 86.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 2 positions we hold weights for in DBA and 1 in PDBA, against full books of 64 and 17.
You are not choosing between two funds in isolation.
Whichever of DBA and PDBA you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DBA or PDBA?
DBA has an expense ratio of 0.88% while PDBA charges 0.59%. PDBA is the cheaper option, by $29 a year on a $10,000 investment.
Which performed better, DBA or PDBA?
Over the past year DBA returned +11.53% vs +11.43% for PDBA, so DBA leads on 1-year performance. Over the longest common window we track (4 years), DBA annualized +10.31% vs +11.61% for PDBA. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DBA or PDBA?
DBA and PDBA have been equally volatile, both at 11.3% annualized. Worst drawdown: DBA -12.4% vs PDBA -12.4%.
Should I hold both DBA and PDBA?
DBA and PDBA have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, DBA or PDBA?
DBA yields 3.11% while PDBA yields 2.89%, so DBA currently pays the higher dividend yield.
Is PDBA better than DBA?
PDBA has a lower expense ratio. DBA led over 1Y, PDBA over 3Y and the full window. The two have moved almost in lockstep, correlation 0.98. Which one suits a particular account depends on what it is for. This is information, not a recommendation.