Top 3 Markets:

1. Energy: approx. 35%
2. Metals: approx. 30%
3. Agriculture: approx. 25%

The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is a commodity ETF that invests in various commodity markets. The revenues of the ETF mainly come from the energy, metals, and agriculture sectors.

The energy sector includes commodities such as oil and gas, which make up a significant portion of the portfolio. Metals, including precious and industrial metals, are also well represented. Agricultural products such as grains and other agricultural commodities form the third major sector.

This diversification allows the ETF to benefit from various market movements and to spread the risk.

Production Sites: Not applicable

The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is an exchange-traded fund (ETF) and not a company that manufactures physical products. The ETF invests in a variety of commodity futures contracts to provide investors with a diversified commodity strategy. Therefore, there are no physical production sites as the fund does not produce physical goods.

Strategy for Future Growth:

1. Diversification of Commodity Investments: The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF focuses on a broad diversification into various commodity categories to spread risk and benefit from different market conditions.

2. Optimization of Roll Yields: The ETF pursues a strategy to optimize roll yields by investing in commodity futures that have the potential to achieve the best returns. This is done by selecting futures contracts with optimal maturities.

3. Cost and Tax Optimization: The ETF is structured in a way that it does not issue K-1 tax forms, providing tax benefits for many investors and reducing management costs.

Invesco aims to attract both institutional and private investors who want to benefit from commodity investments without the complexity and tax challenges of traditional commodity funds.

Imported Raw Materials: Crude oil, natural gas, gold, silver, copper, wheat, corn, soybeans, sugar, coffee

Main Importing Countries: USA, Canada, Brazil, Australia, South Africa, Russia

The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) invests in a broad range of commodities traded worldwide. Key commodities include energy sources like crude oil and natural gas, precious metals like gold and silver, as well as agricultural products like wheat, corn, and soybeans.

The USA is a significant exporter of agricultural products such as corn and soybeans. Canada supplies crude oil and natural gas, while Brazil is an important supplier of sugar and coffee. Australia and South Africa are significant sources of precious metals like gold. Russia is also a major exporter of energy and metals.

This diversification allows the ETF to benefit from global price movements in various commodity markets while minimizing risk through diversification across different commodities and origin countries.

Fund Size: $6.8 billion USD (2023)
Expense Ratio: 0.59% (2023)
1-Year Performance: 3.5% (2023)

The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) offers investors a diversified commodity investment strategy without the tax complications of a K-1 form. This represents a significant competitive advantage as many investors appreciate the simplicity of tax reporting.

Another advantage is the broad diversification across various commodity sectors, which reduces risk for investors while providing the opportunity to benefit from different market cycles. The expense ratio of 0.59% is competitive compared to other commodity ETFs, making the fund attractive to cost-conscious investors.

In summary, the PDBC ETF offers a strong competitive advantage over other commodity investment options due to its tax benefits, diversification, and competitive cost structure.

Institutional Investor Share: 65% (estimated, 2025)

Insider Buys/Sells: No significant insider transactions reported (2025)

The institutional investor share of the Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF is estimated to be around 65%. This high participation suggests that the ETF is popular among institutional investors due to its diversification strategy and avoidance of K-1 tax forms.

No significant insider buys or sells have been reported, which is typical for ETFs as they do not have traditional corporate structures with insiders such as executives or board members.

Market share of PDBC: Estimated at around 10% (2025)

Top competitors and their market shares:

1. iShares S&P GSCI Commodity-Indexed Trust (GSG): around 15%
2. SPDR Gold Shares (GLD): around 12%
3. Invesco DB Commodity Index Tracking Fund (DBC): around 11%
4. United States Oil Fund (USO): around 9%
5. Aberdeen Standard Physical Gold Shares ETF (SGOL): around 8%
6. iShares Silver Trust (SLV): around 7%
7. WisdomTree Continuous Commodity Index Fund (GCC): around 6%
8. First Trust Global Tactical Commodity Strategy Fund (FTGC): around 5%
9. VanEck Vectors Gold Miners ETF (GDX): around 4%
10. Teucrium Corn Fund (CORN): around 3%

Moat of PDBC:

The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) offers a diversified approach without K-1 tax forms, which is an advantage for many investors. This tax advantage can be considered a small moat as it simplifies management and tax reporting for investors.

Compared to other ETFs focusing on individual commodities, PDBC provides broader diversification, reducing risk. However, some competitors, such as SPDR Gold Shares (GLD) or iShares S&P GSCI Commodity-Indexed Trust (GSG), have specific advantages due to their focus on gold or a more comprehensive commodity index representation, which could be more attractive to certain investors.

Overall, PDBC has a moderate moat through its diversification and tax benefits, but some competitors offer specialized advantages that may be considered stronger depending on investors' investment strategies.

Managed Assets: $6.5 billion USD (2024)

Return of the Last 12 Months: 8.2% (2024)

The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) provides investors with access to a diversified range of commodities without the tax complications of a K-1 form. This makes the ETF particularly attractive to investors who prefer simple tax reporting.

The ETF has benefited from the volatility and price fluctuations in commodity markets in recent years. The 8.2% return over the last 12 months shows that the fund is able to profit from rising commodity prices.

As commodities are often seen as a hedge against inflation, the ETF could be a good investment in an environment of rising inflation rates. Furthermore, diversification across different commodities helps reduce risks compared to investments in individual commodities.

Overall, PDBC could be an attractive option for investors seeking diversification and inflation protection, provided they understand and accept the risks associated with commodity investments.

Dividend payment: Yes, PDBC pays a dividend.

Dividend yield: Approx. 3.5% (estimated for 2025)

The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) is known for making periodic distributions. These distributions heavily depend on the income generated by the fund through its investments in commodity futures and other derivative instruments.

The reliability of dividend payments can fluctuate as they are dependent on the performance of the underlying commodity markets. In recent years, however, the fund has followed a relatively consistent distribution policy. Investors should be aware that commodity markets are volatile, and therefore the dividend yield may vary.