Symbols

PDBC

Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF·NASDAQ

--(--)

Key Stats

Assets Under Management

4.60BUSD

Fund Flows (1Y)

407.75MUSD

Dividend Yield

3.84%

Discount/Premium to NAV

-0.23%

Shares Outstanding

342.30M

Expense Ratio

0.59%

About Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF

Issuer

Invesco Capital Management LLC

Brand

Invesco

Home Page

https://www.invesco.com/us/financial-products/etfs/product-detail?productId=ETF-PDBC

Inception Date

Nov 7, 2014

Structure

Open-Ended Fund

Index Tracked

Management Style

Active

Dividend Treatment

Distributes

Distribution Tax Treatment

Ordinary income

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

Invesco Capital Management LLC

Distributor

Invesco Distributors, Inc.

PDBC offers a quasi-active broad-commodity strategy, delivered in a 1940-Act, plain ETF wrapper. PDBC investors therefore avoid K-1s, mark-to-market capital gains taxes, and counterparty risk, instead relying on the fund's investment in an offshore subsidiary to gain commodity exposure. PDBC's commodity portfolio is nearly identical to that of sibling fund DBC, known for its optimized strategy of selecting futures contracts to mitigate contango. PDBC is actively-managed but it explicitly references DBC's underlying index, which is composed of futures contracts on 14 commodities across the energy, precious metals, industrial metals and agriculture sectors with the aim of outperforming the reverence index.