PDBC vs COMT ETF comparison
PDBC vs COMT
PDBC is actively managed and holds futures on the same 27 commodities as DBC, plus swaps, Treasury securities and other short-term holdings, through a Cayman subsidiary, and COMT holds S&P GSCI futures chosen for the best roll yield, plus cash and short-term notes. The two funds follow different indexes. The DBIQ Optimum Yield Diversified Commodity Index Excess Return (benchmark, actively managed) follows the same 27-commodity universe as DBC but is actively managed, so it can choose contracts and hold Treasury securities, swaps and notes for extra return.
The S&P GSCI Dynamic Roll Index follows the S&P GSCI but chooses which contract month to hold using roll yield, so it holds the GSCI mix with a different roll rule. PDBC charges 0.59% and COMT charges 0.48%. This page lines up what each fund holds by commodity, how much they overlap, what each paid and how each performed, with the date next to every number.
PDBC vs COMT, the short answer
PDBC and COMT differ in what they hold and what they charge. The two funds follow different indexes. The DBIQ Optimum Yield Diversified Commodity Index Excess Return (benchmark, actively managed) follows the same 27-commodity universe as DBC but is actively managed, so it can choose contracts and hold Treasury securities, swaps and notes for extra return.
The S&P GSCI Dynamic Roll Index follows the S&P GSCI but chooses which contract month to hold using roll yield, so it holds the GSCI mix with a different roll rule. Expense ratios are 0.59% and 0.48%. NAV total returns, annualized (PDBC to Oct 31, 2026, COMT to Sep 30, 2026): 1 year 53.50% vs 48.38%; 3 years 15.74% vs 14.56%; 5 years 12.45% vs 13.55%; 10 years 10.00% vs 9.63%. Neither is better for everyone; the choice turns on cost, tax form (K-1 or 1099), and what you already own.
PDBC vs COMT overlap, if you own both
PDBC · ten largest holdings
As of Oct 31, 2026- 1Brent crude CO21.12%Both
- 2WTI crude CL17.38%Both
- 3Gold GC8.02%Both
- 4Gasoil QS6.63%Both
- 5Heating oil HO5.67%Both
- 6Copper HG5.35%Both
- 7Gasoline XB3.97%Both
- 8Soybeans S3.19%Only here
- 9Live cattle LC3.04%Both
- 10Corn C2.98%Both
Ten largest total 77.4%
COMT · ten largest holdings
As of Nov 9, 2026- 1Brent crude CO19.07%Both
- 2WTI crude CL18.07%Both
- 3Gold GC7.92%Both
- 4Gasoil QS7.90%Both
- 5Copper HG6.47%Both
- 6Heating oil HO5.38%Both
- 7Live cattle LC4.47%Both
- 8Aluminum LA4.00%Only here
- 9Corn C3.98%Both
- 10Gasoline XB3.38%Both
Ten largest total 80.6%
Shared by both · 9 commodities
| Commodity | PDBC weight | COMT weight | Gap |
|---|---|---|---|
| Brent crude CO | 21.12% | 19.07% | +2.05 pts |
| WTI crude CL | 17.38% | 18.07% | -0.69 pts |
| Gold GC | 8.02% | 7.92% | +0.10 pts |
| Gasoil QS | 6.63% | 7.90% | -1.27 pts |
| Heating oil HO | 5.67% | 5.38% | +0.29 pts |
| Copper HG | 5.35% | 6.47% | -1.12 pts |
| Gasoline XB | 3.97% | 3.38% | +0.59 pts |
| Live cattle LC | 3.04% | 4.47% | -1.43 pts |
| Corn C | 2.98% | 3.98% | -1.00 pts |
Only in PDBC’s top ten: Soybeans. Only in COMT’s top ten: Aluminum.
The twist
91.3% of the exposure sits in commodities both funds hold (matched by commodity, issuer holdings dated Oct 31, 2026 and Nov 9, 2026), and 9 commodities appear in both top-ten lists. Holding both adds almost no diversification: you are paying for two wrappers around nearly the same basket of commodities.
PDBC vs COMT, one goal, which fund?
PDBC vs COMT, where the money goes
PDBC · Invesco, Oct 31, 2026
COMT · BlackRock (iShares), Nov 9, 2026
PDBC vs COMT returns compared over 1, 3, 5 and 10 years
PDBC vs COMT, what each fund costs a year
The data room
Every figure behind the PDBC vs COMT cards above, with its source, date and evidence grade. Open the issuer documents before relying on any number.
PDBC vs COMT key facts
Evidence grade: Issuer issuer page · Mixed issuer plus provider · 3rd party| Metric | PDBC | COMT | Grade and source |
|---|
Portfolio characteristics
| Metric | PDBC | COMT | Grade and source |
|---|
Net assets are dated Nov 9, 2026 for both funds (PDBC $7.4B; COMT $1.29B). Figures that the issuers do not publish, such as beta, standard deviation and 52-week range, are left as Not captured rather than estimated.
PDBC vs COMT holdings and top ten
Click a commodity tile · PDBC: Invesco, Oct 31, 2026 · COMT: BlackRock (iShares), Nov 9, 2026Tile area is proportional to weight.
| # | Commodity | Weight |
|---|
| # | Commodity | Weight |
|---|
Top ten sums: PDBC 77.3% · COMT 80.6%. 9 shared top-ten commodities. Weights change.
PDBC vs COMT sector exposure
PDBC: Oct 31, 2026 · COMT: Nov 9, 2026The sector mirror
Same funds, different lenses
Contracts and collateral
Both funds hold futures contracts, not physical commodities. PDBC lists 27 commodities and COMT lists 24. Each contract expires and is replaced (rolled) before it ends, and the cash backing the contracts sits in Treasury bills, money market funds and similar holdings. That collateral earns interest and is not counted in the commodity weights here.
What you actually own
PDBC vs COMT performance
Matched dates, PDBC to Oct 31, 2026, COMT to Sep 30, 2026; issuer NAV rows dated separatelyReturn rows come from the issuer pages and are dated Oct 31, 2026 for PDBC and Sep 30, 2026 for COMT, so they are not matched and no return leader is named. NAV returns include fees; market price and benchmark returns are shown beside them where the issuer published them, and gaps are marked Not captured. “Since inception” starts in different years (PDBC 2014, COMT 2014). Past performance does not guarantee future results.
Growth of a hypothetical $10,000 · NAV total return, PDBC to Oct 31, 2026, COMT to Sep 30, 2026
Both funds derived from issuer NAV total returns on matched dates (compounded). Distributions reinvested; fund expenses are already in NAV. Illustration, not a forecast.
PDBC vs COMT yield, dividends and dividend growth
Yield and distribution facts| Measure | PDBC | COMT |
|---|---|---|
| 30-day SEC yield | 2.90% (Nov 6, 2026) | Not reported |
| Trailing 12-month | 2.71% 12-month distribution rate (Nov 6, 2026) | Not captured |
| Paid, last 12 months | $0.509 per share | Not captured |
| Frequency | Annual | Annual |
Distribution frequency: PDBC annual, COMT annual. Per-share payouts differ because share prices differ, so compare yields rather than dollars. Payouts depend on Treasury interest earned on collateral and on how each fund is structured, and some payouts are classed as return of capital. Payouts captured: PDBC 2, COMT 0; gaps are marked Not captured. See what is dividend yield and yield vs total return.
PDBC vs COMT concentration and overlap
Ten largest positions · shared holdingsRank by rank, the ten largest commodities of each fund, as a share of futures exposure. Top five: PDBC 58.8%, COMT 59.4%. Top ten: PDBC 77.3%, COMT 80.6%.
PDBC vs COMT trading and liquidity
Issuer fund pages · Nov 9, 2026The issuers report bid/ask spreads of 0.05% for PDBC and 0.25% for COMT (measures differ by issuer; see each fund page). A spread of 0.05% is about $50 between the buy and sell price on $100,000, so check the live quote before you trade.
Commodity prices can swing sharply when oil or metals move, so spreads can widen on volatile days. Use limit orders for large trades and avoid the first and last minutes of the session. See creation, redemption and trading for how NAV, premiums and spreads arise.
PDBC vs COMT expense ratio and fees in dollars
As stated by each issuer| Balance | PDBC (0.59%) | COMT (0.48%) | Gap per year |
|---|---|---|---|
| $10,000 | $59 | $48 | $11 |
| $50,000 | $295 | $240 | $55 |
| $100,000 | $590 | $480 | $110 |
Expense ratio is taken from fund assets, not billed. Net expense ratios are shown (PDBC: total 0.74% with 0.15% acquired fund fees; COMT: gross 0.49%, net 0.48% after a 0.01% waiver). Fees exclude the bid/ask spread, any premium or discount to NAV, brokerage commissions and taxes.
PDBC vs COMT, how each fund gets its commodity exposure
Index approach, in plain languagePDBC · DBIQ Optimum Yield Diversified Commodity Index Excess Return (benchmark, actively managed)
PDBC tracks the DBIQ Optimum Yield Diversified Commodity Index Excess Return (benchmark, actively managed). It holds futures on about 27 commodities and was launched in 2014; the ten largest commodities total 77.3% of futures exposure. Index rules and rebalance dates are in the fund’s prospectus.
COMT · S&P GSCI Dynamic Roll Index
COMT tracks the S&P GSCI Dynamic Roll Index. It holds futures on about 24 commodities and was launched in 2014; the ten largest commodities total 80.6% of futures exposure. Index rules and rebalance dates are in the fund’s prospectus.
Exact eligibility rules, caps and rebalance dates sit in each prospectus and index methodology; read them before relying on this summary.
PDBC vs COMT, why yield and returns differ
Sector mix explains much of the gapThe two funds follow different indexes. The DBIQ Optimum Yield Diversified Commodity Index Excess Return (benchmark, actively managed) follows the same 27-commodity universe as DBC but is actively managed, so it can choose contracts and hold Treasury securities, swaps and notes for extra return. The S&P GSCI Dynamic Roll Index follows the S&P GSCI but chooses which contract month to hold using roll yield, so it holds the GSCI mix with a different roll rule.
PDBC follows the DBIQ Optimum Yield Diversified Commodity Index Excess Return (benchmark, actively managed) and COMT uses the S&P GSCI Dynamic Roll Index. Because commodity funds hold futures, the return comes from three sources: the change in commodity prices, the roll yield or cost as contracts are replaced, and interest earned on the collateral. Differences in contract choice, roll timing and collateral income explain most of the gap between funds with similar baskets, and fees explain the rest.
How to decide between PDBC and COMT
A step-by-step frameworkStart with what separates them: The two funds follow different indexes. The DBIQ Optimum Yield Diversified Commodity Index Excess Return (benchmark, actively managed) follows the same 27-commodity universe as DBC but is actively managed, so it can choose contracts and hold Treasury securities, swaps and notes for extra return.
The S&P GSCI Dynamic Roll Index follows the S&P GSCI but chooses which contract month to hold using roll yield, so it holds the GSCI mix with a different roll rule. Then check what you already own: the funds overlap by 91.3%, so holding both adds little.
- Step 1 · Structure: PDBC is actively managed and holds futures on the same 27 commodities as DBC, plus swaps, Treasury securities and other short-term holdings, through a Cayman subsidiary; COMT holds S&P GSCI futures chosen for the best roll yield, plus cash and short-term notes.
- Step 2 · Cost: PDBC 0.59% vs COMT 0.48% net expense ratio.
- Step 3 · Tax form: PDBC issues a 1099; COMT issues a 1099. This matters most for tax-advanced accounts and for Canadian investors.
- Step 4 · Overlap: use the Diversification Calculator against what you own.
Size the position against your whole portfolio. Commodity funds are volatile and behave differently from stocks and bonds, so they usually play a small, deliberate role.
PDBC vs COMT for Canadian investors
Currency, withholding tax and account typePDBC and COMT are U.S.-listed and trade in U.S. dollars, so buying them from a Canadian account usually involves converting Canadian dollars, which adds a cost on both entry and exit. A move in the U.S. dollar also changes your return in Canadian dollars.
Tax treatment depends on the structure. A fund that files a Schedule K-1 can create extra reporting for a Canadian holder and may not suit an RRSP or TFSA, while a fund that issues a 1099 is simpler. Confirm the rules for your account with a tax professional. This is general education, not tax advice.
Risks of PDBC and COMT
What can go wrongShared risks
- Commodity prices can swing sharply: oil, metals and crops respond to supply shocks, weather, politics and demand, and a broad commodity fund can fall while stocks rise.
- Futures funds can lose value when the market is in contango, because rolling into a more expensive contract costs money even if the spot price does not change.
- Energy is 57% of PDBC and 56% of COMT, so oil and fuel prices drive a large share of the result.
- Commodities produce no earnings or dividends of their own; returns come from price changes, roll yield and interest on collateral.
Fund-specific risks
- PDBC: ten largest commodities total 77.3% of futures exposure (Oct 31, 2026); exposure to 27 commodities.
- COMT: ten largest commodities total 80.6% of futures exposure (Nov 9, 2026); exposure to 24 commodities.
- PDBC: is actively managed through a Cayman subsidiary and holds swaps, so it carries counterparty and management risk. COMT: follows the GSCI with a dynamic roll rule, and its roll choice can differ from the index in a given month.
- Both: not registered as ordinary stock funds; see each prospectus for legal form and the risks of futures.
PDBC vs COMT taxes and account placement
General education, not tax advicePDBC holds futures through a Cayman subsidiary and issues a standard 1099, but income from the subsidiary can be taxed as ordinary income. COMT is a regulated fund that issues a standard 1099 rather than a Schedule K-1, but income from its futures and cash holdings can be taxed as ordinary income. Issuer pages list after-tax returns only for some funds, and gaps are marked Not captured.
For Canadian account types and withholding tax, see the Canadian section above. Confirm the rules for your account with a tax professional, and read how to build an ETF portfolio.
Other ETFs people compare
For context, not recommendationsInvestors comparing PDBC and COMT often also look at the other broad commodity funds in this group: DBC, PDBC, GSG, USCI, BCI and COMT. See the other commodity ETFs comparisons and the ETF research hub.
PDBC vs COMT drawdown arithmetic
What a decline means in dollarsRecovery gain = decline ÷ (1 − decline). The scenarios use illustrative declines of 10%, 20% and 30% so you can see what a drop does to each fund. They are a rough guide to a bad year, not a worst-case figure. See the Position Size Calculator.
Tools to compare PDBC vs COMT
Static weights from this pageIgnores taxes, spreads and holdings differences. ETF Fee Calculator.
Check shared exposure with the Diversification Calculator.
PDBC vs COMT, which fits which job
Characteristics, not recommendationsPDBC may suit investors who want…
Actively managed exposure to the same 27 commodities, with a 1099.
Strengths
- Futures on 27 commodities
- Flatter top ten: 77.3% against 80.6%
- Exchange-traded and priced all day
- Holdings dated on this page
Watch points
- Higher fee: 0.59% against 0.48%
- Not a complete portfolio
- Futures roll costs
COMT may suit investors who want…
GSCI exposure with a roll-yield rule.
Strengths
- Lower fee: 0.48% against 0.59%
- Futures on 24 commodities
- Exchange-traded and priced all day
- Holdings dated on this page
Watch points
- Heavier top ten: 80.6% against 77.3%
- Not a complete portfolio
- Futures roll costs
PDBC vs COMT investor scenarios
Characteristics that fit, not recommendationsPDBC vs COMT key terms
Plain-language definitions
PDBC vs COMT, frequently asked questions
Answers use the figures and dates shown aboveIs PDBC or COMT better?
In the PDBC vs COMT question, neither is better for everyone. PDBC and COMT differ in what they hold and what they charge. The two funds follow different indexes. The DBIQ Optimum Yield Diversified Commodity Index Excess Return (benchmark, actively managed) follows the same 27-commodity universe as DBC but is actively managed, so it can choose contracts and hold Treasury securities, swaps and notes for extra return.
The S&P GSCI Dynamic Roll Index follows the S&P GSCI but chooses which contract month to hold using roll yield, so it holds the GSCI mix with a different roll rule. Expense ratios are 0.59% and 0.48%. NAV total returns, annualized (PDBC to Oct 31, 2026, COMT to Sep 30, 2026): 1 year 53.50% vs 48.38%; 3 years 15.74% vs 14.56%; 5 years 12.45% vs 13.55%; 10 years 10.00% vs 9.63%. Neither is better for everyone; the choice turns on cost, tax form (K-1 or 1099), and what you already own.
PDBC vs COMT, what are the expense ratios?
PDBC charges 0.59% and COMT charges 0.48%, which is $59 and $48 a year per $10,000.
PDBC vs COMT, how much do the funds overlap?
About 91.3% of the exposure is held by both funds, matched by commodity in issuer holdings dated Oct 31, 2026 and Nov 9, 2026. 9 commodities appear in both top-ten lists.
PDBC vs COMT, what does each ETF track?
PDBC tracks the DBIQ Optimum Yield Diversified Commodity Index Excess Return (benchmark, actively managed). COMT tracks the S&P GSCI Dynamic Roll Index.
PDBC vs COMT, what are the top commodities?
PDBC (Oct 31, 2026): Brent crude 21.12%, WTI crude 17.38%, Gold 8.02%, Gasoil 6.63%, Heating oil 5.67%. COMT (Nov 9, 2026): Brent crude 19.07%, WTI crude 18.07%, Gold 7.92%, Gasoil 7.9%, Copper 6.47%.
PDBC vs COMT, which has performed better?
NAV total returns, annualized (PDBC to Oct 31, 2026, COMT to Sep 30, 2026): 1 year 53.50% vs 48.38%; 3 years 15.74% vs 14.56%; 5 years 12.45% vs 13.55%; 10 years 10.00% vs 9.63%. Returns depend on commodity prices, roll yield and collateral income, and past performance does not guarantee future results.
PDBC vs COMT, can I own both?
On PDBC vs COMT, you can, but they overlap by about 91.3%. 9 top-ten commodities are shared. Holding both adds almost no diversification: you are paying for two wrappers around nearly the same basket of commodities.
PDBC vs COMT, how often do the funds pay dividends?
Distribution frequency: PDBC annual, COMT annual. Distribution rates are 2.90% for PDBC and 1.61% for COMT; check each issuer page for the schedule.
PDBC vs COMT, are they suitable for Canadian investors?
On PDBC vs COMT, both are U.S.-listed and trade in U.S. dollars, so Canadians face currency conversion costs. PDBC issues a 1099 and COMT issues a 1099, which can change reporting. Treatment differs across TFSA, RRSP and taxable accounts. This is general education, not tax advice.
PDBC vs COMT, how do the funds differ by sector?
PDBC (Oct 31, 2026): energy 56.7%, agriculture 16.0%, industrial metals 10.8%. COMT (Nov 9, 2026): energy 56.0%, agriculture 14.0%, industrial metals 12.7%.
PDBC vs COMT documents and sources
Open the issuer documents before relying on any figurePDBC · Invesco
COMT · BlackRock (iShares)
Third-party sources
Invesco PDBC fund page · iShares COMT fund page.
Methodology and limits
- PDBC figures come from Invesco fund pages and COMT figures from BlackRock (iShares) fund pages.
- Dates are shown beside each figure; the issuer documents are linked below.
- Overlap is the sum of the smaller weight of each commodity held by both funds. Treasury bills, cash and swaps used as collateral are excluded, and the dates and bases differ, so treat the overlap as an estimate. Weights are shares of each fund’s futures exposure by underlying commodity, so Treasury bills, cash and collateral are excluded. PDBC weights are the prior month-end commodity exposure published by Invesco (Oct 31, 2026). COMT weights are each commodity’s share of futures notional value in the iShares holdings file of Nov 9, 2026. Invesco groups livestock with agriculture in its PDBC sector chart; this page shows it separately.
- This page shows livestock as its own group for every fund.
- Figures that were unavailable (beta, standard deviation, 52-week range, calendar-year returns) are left as Not captured, and nothing was filled from memory or from another fund.
- Growth of $10,000 is derived from annualized NAV total returns on matched dates; dollar values are approximate.
- Returns are issuer-reported NAV total returns (dates shown beside each figure), with market price and benchmark figures where published.
Educational research, not personalized investment, tax or legal advice, and not a recommendation to buy or sell any fund. Investing involves risk, including loss of principal. Past performance does not guarantee future results. Calculators are hypothetical illustrations. Fund data are provided as published by the sources named and may differ from current figures.