Invesco Agriculture Commodity Strategy No K-1… (PDBA) Performance
PDBA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +9.5% since Dec 31, 2025
- 1 year
- +7.4% total return
- 3 years
- +12.9% a year
- Since first price
- +11.0% a year since 2022
PDBA trailing returns vs SPY, QQQ, AGG
| Period | PDBA total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −2.4% | −2.4% | −1.0% | −5.0% | +0.9% |
| 3 months | −1.4% | −1.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.0% | +2.0% | +7.8% | +8.4% | −1.5% |
| YTD | +9.5% | +9.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +7.4% | +4.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +44.0%+12.9%/yr | +15.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionAug 24, 2022 | +54.6%+11.0%/yr | +23.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PDBA vs SPY
From Aug 24, 2022: PDBA grew to $15,464, SPY to $19,429.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PDBA returns by calendar year
2 of 3 full years positive. Best 2024 (+34.2%), worst 2025 (−0.8%). 2026 is year to date.
PDBA annual returns table
| Year | PDBA | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +9.5% | −8.6% | +12.3% | +15.1% | −1.0% |
| 2025 | −0.8% | −9.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +34.2% | −12.5% | +24.9% | +25.6% | +1.3% |
| 2023 | +7.8% | −5.4% | +26.2% | +54.9% | +5.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PDBA largest drawdowns
Now 5.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 24, 2024 | −12.5% | Aug 1, 2024 | Nov 22, 2024 | 3 months | 7 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PDBA risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +14.2% | +11.5% |
| Volatility (annualized) | 12.7% | 11.5% |
| Sharpe ratio | 0.77 | 0.63 |
| Sortino ratio | 1.50 | 1.19 |
| Best month | +11.8% | +11.8% |
| Worst month | −5.2% | −5.2% |
| Best 12 months | +34.2% | +34.2% |
| Worst 12 months | −3.6% | −3.6% |
| Positive months | 58% | 57% |
| Beta vs S&P 500 | 0.03 | — |
| Correlation with S&P 500 | 0.03 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PDBA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 39 | −3.6% | +11.8% | +34.2% | 95% |
| 3-year (a year) | 15 | +12.5% | +13.5% | +15.2% | 100% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
PDBA performance overview
Invesco Agriculture Commodity Strategy No K-1… (PDBA) returned +7.4% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned +11.0% a year, turning $10,000 into about $15,464. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −12.5%, from Apr 24, 2024 to Aug 1, 2024, and it took 4 months to get back to the old high. PDBA finished 2 of its 3 full calendar years with a gain; the best year was 2024 (+34.2%) and the worst 2025 (−0.8%). Volatility has been 11.5% a year.
Related: PDBA chart, PDBA dividends. See the PDBA overview for the latest quote and fund facts.
PDBA performance FAQ
What is the PDBA return over the past year?
PDBA returned +7.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 4.0%.
How much would $10,000 invested in PDBA be worth?
$10,000 invested in PDBA at its first recorded close on August 24, 2022 would be worth about $15,464 on October 23, 2026 with distributions reinvested.
What was the worst year for PDBA?
The worst calendar year was 2025, with a total return of −0.8%. The best was 2024 at +34.2%.
What is the biggest drawdown of PDBA?
The largest peak-to-trough decline was −12.5% between April 24, 2024 and August 1, 2024. It recovered to the old high on November 22, 2024, 4 months after the bottom.
How volatile is PDBA?
Over the past 3 years PDBA had an annualized volatility of 12.7% and a Sharpe ratio of 0.77 (excess return over 1–3 month T-bills per unit of risk).