Data as of Oct 28, 2026.
IVV vs PDBC: Differences, Returns & Fees
Over the year to Oct 28, 2026, IVV returned +13.7% to PDBC's +55.6%; 0% of their weight is in the same names.
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Net assets on Oct 27, 2026: $885.1bn for iShares Core S&P 500 ETF and $8.0bn for Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF.
Pair scorecard
IVV costs 0.56 points a year less; their one-year returns differ by 41.9 points; IVV is far larger, $885.1bn against $8.0bn.
| Measure | IVV | PDBC |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.7% | +55.6% |
| Benchmark | ||
| What it tracks | S&P 500 | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.03% | 0.59% |
| Net assets, as of Oct 27, 2026 | $885.1bn | $8.0bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 38.1% | |
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: IVV against SPY, May 26, 2000 to Oct 23, 2026; PDBC against DBC, Nov 14, 2014 to Oct 23, 2026.
IVV returned more: +356.8% to +85.7%. IVV swung slightly less: 16.6% to 18.0%. IVV fell less at its worst: −31.8% to −48.3%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | IVV | PDBC | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +356.8% | +85.7% | IVV | Price change plus distributions, reinvested. |
| Annualized | +13.5% | +5.3% | IVV | Total return as a yearly rate. |
| Price return | +271.3% | −17.2% | IVV | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 16.6% | 18.0% | IVV (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 11.6% | 12.3% | IVV (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −31.8% | −48.3% | IVV | Deepest fall from a high to the low after it. |
| Upside capture | 99.3% | 98.9% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 99.7% | 99.6% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.99 | 0.99 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 1.00 | 0.98 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.72 | 0.26 | IVV | Return above Treasury bills per unit of volatility. |
| Sortino | 1.03 | 0.38 | IVV | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.081 | 0.047 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.42 | 0.11 | IVV | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SPY | 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 | 0.33 | 0.02 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.4% to +0.5% | −1.5% to +1.5% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.00 | 0.00 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.2% | 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, IVV 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
IVV and PDBC on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IVV and PDBC do different jobs. What does each one do in a portfolio?
- What each follows. IVV follows S&P 500 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 IVV returned +13.7% and PDBC +55.6% with distributions reinvested, a gap of 41.9 points.
Data as of Oct 28, 2026.
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IVV
IVV tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested, against +13.6% for its benchmark, the S&P 500. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 505 positions, with the top ten at 38.1%.
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, IVV or PDBC?
- In the year to Oct 28, 2026, with distributions reinvested, IVV returned +13.7% and PDBC +55.6%.
- Which is cheaper, IVV or PDBC?
- IVV 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.
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, IVV against PDBC, data as of Oct 28, 2026. https://etfiq.com/compare/any/ivv-vs-pdbc
ETFIQ. (Oct 28, 2026). IVV against PDBC. Retrieved from https://etfiq.com/compare/any/ivv-vs-pdbc
[IVV against PDBC (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/ivv-vs-pdbc)
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