Data as of Oct 28, 2026.
ACWX vs PDBC: Differences, Returns & Fees
Over the year to Oct 28, 2026, ACWX returned +14.3% to PDBC's +55.6%; 0% of their weight is in the same names.
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Net assets on Oct 27, 2026: $17.9bn for iShares MSCI ACWI ex U.S. ETF and $8.0bn for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF.
Pair scorecard
ACWX costs 0.27 points a year less; their one-year returns differ by 41.3 points; ACWX is 2.2 times larger.
| Measure | ACWX | PDBC |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.3% | +55.6% |
| Drawdown | ||
| Below its high | 4.9%, high on Sep 4, 2026 | |
| Benchmark | ||
| What it tracks | MSCI ACWI ex USA Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.32% | 0.59% |
| Net assets, as of Oct 27, 2026 | $17.9bn | $8.0bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 0% | |
| Top ten holdings, share of the fund | 15.6% | |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Nov 14, 2014 to Oct 23, 2026 · 623 weekly returnsACWX returned more: +124.4% to +85.7%. ACWX swung slightly less: 16.5% to 18.0%. ACWX fell less at its worst: −34.2% to −48.3%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ACWX | PDBC | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +124.4% | +85.7% | ACWX | Price change plus distributions, reinvested. |
| Annualized | +7.0% | +5.3% | ACWX | Total return as a yearly rate. |
| Price return | +63.3% | −17.2% | ACWX | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 16.5% | 18.0% | ACWX (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 11.8% | 12.3% | ACWX (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −34.2% | −48.3% | ACWX | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.36 | 0.26 | ACWX | Return above Treasury bills per unit of volatility. |
| Sortino | 0.51 | 0.38 | ACWX | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.20 | 0.11 | ACWX | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 623 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ACWX and PDBC hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
ACWX and PDBC on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
ACWX and PDBC do different jobs. What does each one do in a portfolio?
- What each follows. ACWX follows MSCI ACWI ex USA Index and PDBC follows No index, actively managed.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 ACWX returned +14.3% and PDBC +55.6% with distributions reinvested, a gap of 41.3 points.
Data as of Oct 28, 2026.
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ACWX
ACWX tracks the MSCI ACWI ex U.S.. Over the year to Oct 28, 2026 it returned +14.3% with distributions reinvested. The prospectus expense ratio is 0.32% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1,939 positions, with the top ten at 15.6%. It sat 4.9% below its high of Sep 4, 2026 on Oct 28, 2026.
PDBC
PDBC is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +55.6% with distributions reinvested, against +54.6% for its benchmark, the DBIQ Optimum Yield Diversified Commodity Index Excess Return. The prospectus expense ratio is 0.59% a year.
Questions people ask
- Which returned more over the last year, ACWX or PDBC?
- In the year to Oct 28, 2026, with distributions reinvested, ACWX returned +14.3% and PDBC +55.6%.
- Which is cheaper, ACWX or PDBC?
- ACWX is cheaper, by 0.27 percentage points a year. That is about $27 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, ACWX against PDBC, data as of Oct 28, 2026. https://etfiq.com/compare/any/acwx-vs-pdbc
ETFIQ. (Oct 28, 2026). ACWX against PDBC. Retrieved from https://etfiq.com/compare/any/acwx-vs-pdbc
[ACWX against PDBC (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/acwx-vs-pdbc)
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