Data as of Oct 28, 2026.
AGG vs PDBC: Differences, Returns & Fees
Over the year to Oct 28, 2026, AGG returned −1.4% to PDBC's +55.6%; 0% of their weight is in the same names.
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Net assets on Oct 27, 2026: $139.4bn for iShares Core U.S. Aggregate Bond ETF and $8.0bn for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF.
Pair scorecard
AGG costs 0.56 points a year less; their one-year returns differ by 57.0 points; AGG is 17.4 times larger.
| Measure | AGG | PDBC |
|---|---|---|
| Return | ||
| Total return, 1 year | −1.4% | +55.6% |
| Drawdown | ||
| Below its high | 3.4%, high on Aug 4, 2020 | |
| Benchmark | ||
| What it tracks | Bloomberg U.S. Aggregate Bond Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.03% | 0.59% |
| Net assets, as of Oct 27, 2026 | $139.4bn | $8.0bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Nov 14, 2014 to Oct 23, 2026 · 623 weekly returnsEach against its own benchmark: AGG against SCHZ, Jul 22, 2011 to Oct 23, 2026; PDBC against DBC, Nov 14, 2014 to Oct 23, 2026.
PDBC returned more: +85.7% to +21.7%. AGG swung less: 5.0% to 18.0%. AGG fell less at its worst: −18.2% to −48.3%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | AGG | PDBC | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +21.7% | +85.7% | PDBC | Price change plus distributions, reinvested. |
| Annualized | +1.7% | +5.3% | PDBC | Total return as a yearly rate. |
| Price return | −12.7% | −17.2% | AGG | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 5.0% | 18.0% | AGG | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 3.6% | 12.3% | AGG | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −18.2% | −48.3% | AGG | Deepest fall from a high to the low after it. |
| Upside capture | 97.5% | 98.9% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 97.5% | 99.6% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.94 | 0.99 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.95 | 0.98 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | −0.07 | 0.26 | PDBC | Return above Treasury bills per unit of volatility. |
| Sortino | −0.10 | 0.38 | PDBC | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.004 | 0.047 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.09 | 0.11 | PDBC | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SCHZ | DBC | The ETF each fund is measured against. | |
| Alpha | +0.1% a year | 0.0% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.23 | 0.02 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.4% to +0.6% | −1.5% to +1.5% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.04 | 0.00 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.1% | 2.6% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
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, AGG 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
AGG and PDBC on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
AGG and PDBC do different jobs. What does each one do in a portfolio?
- What each follows. AGG follows Bloomberg U.S. Aggregate Bond 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 AGG returned −1.4% and PDBC +55.6% with distributions reinvested, a gap of 57.0 points.
Data as of Oct 28, 2026.
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AGG
AGG tracks an index of US aggregate bonds. Over the year to Oct 28, 2026 it returned −1.4% with distributions reinvested, against −1.3% for its benchmark, the Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.03% a year. It sat 3.4% below its high of Aug 4, 2020 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, AGG or PDBC?
- In the year to Oct 28, 2026, with distributions reinvested, AGG returned −1.4% and PDBC +55.6%.
- Which is cheaper, AGG or PDBC?
- AGG is cheaper, by 0.56 percentage points a year. That is about $56 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, AGG against PDBC, data as of Oct 28, 2026. https://etfiq.com/compare/any/agg-vs-pdbc
ETFIQ. (Oct 28, 2026). AGG against PDBC. Retrieved from https://etfiq.com/compare/any/agg-vs-pdbc
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