Fund · Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF · measured from SEC filings
PDBC holdings
PDBC reports 29 holdings and behaves like 1.5 equally weighted ones, computed from its SEC Form N-PORT filing for 2026-07-31. The fact sheet publishes the first number; this page computes the second, and traces it across 27 quarters of filings.
Measured concentration
as of 2026-07-31This figure is not comparable with other funds
swap and futures notional is 111% of net assets: the fund's exposure is delivered by derivatives, and a count of its filed positions does not describe it. See the exposure section for what the notional is written on
92% held in short-term investment vehicles: this is a cash-like fund, and its holding count measures something different
The figure below is what the filing says, published unchanged. What it may not do is sit beside a plain long-only fund and be read as the same quantity. How comparability is decided.
Computed by this site from the fund's SEC Form N-PORT filing; what the measure does not tell you · every fund in one table · hold it with other funds? X-ray the mix. Pricing: 92.95% at a quoted market price (level 1), 2 issuer countries.
What stands out
as of 2026-07-31The largest line in PDBC's filing is not a stock but Invesco Premier U.S. Government Money Portfolio, Institutional Class, a short-term position at 75.18% of net assets. Between the 2026-01-31 and 2026-04-30 filings 5 positions were added and 7 dropped; 1.9% of the weight moved. the United States is the largest country at 85.81% of the portfolio, across 2 countries in the filing.
Each sentence is read from the fund's own SEC filing; the class median is computed across the comparable short-term funds on this site. Nothing here is a view on the fund.
Every filing since 2019
27| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2026-04-30 * | 30 | 1.6 | 99.07% | 76.62% |
| 2026-01-31 * | 31 | 1.7 | 97.7% | 75.46% |
| 2025-10-31 * | 20 | 1.3 | 99.17% | 85.59% |
| 2025-07-31 * | 19 | 1.5 | 99.85% | 80.84% |
| 2025-04-30 * | 8 | 1.5 | 100% | 80.88% |
| 2025-01-31 * | 19 | 1.8 | 99.49% | 72.07% |
| 2024-10-31 * | 15 | 3.9 | 99.93% | 38.65% |
| 2024-07-31 * | 16 | 3.4 | 99.91% | 44.22% |
Earlier filings (19 more, back to 2019-10-31)
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2024-04-30 * | 16 | 3.4 | 99.99% | 46.65% |
| 2024-01-31 * | 19 | 4.1 | 99.72% | 35.65% |
| 2023-10-31 * | 12 | 3.5 | 100% | 45.57% |
| 2023-07-31 * | 22 | 3.5 | 98.17% | 38.86% |
| 2023-04-30 * | 10 | 3.8 | 100% | 34.04% |
| 2023-01-31 * | 22 | 3.4 | 98.29% | 38.78% |
| 2022-10-31 * | 11 | 3.6 | 99.99% | 36.08% |
| 2022-07-31 * | 17 | 3.9 | 97.88% | 39.46% |
| 2022-04-30 * | 25 | 2.5 | 96.61% | 62.04% |
| 2022-01-31 * | 23 | 2.4 | 95.99% | 62.17% |
| 2021-10-31 * | 29 | 3.2 | 97.64% | 53.22% |
| 2021-07-31 * | 28 | 5.2 | 86.8% | 39.98% |
| 2021-04-30 * | 27 | 5.5 | 84.54% | 38.32% |
| 2021-01-31 * | 25 | 3.8 | 91.57% | 46.84% |
| 2020-10-31 * | 20 | 4 | 91.49% | 44.08% |
| 2020-07-31 * | 24 | 3.8 | 89.76% | 47.66% |
| 2020-04-30 * | 18 | 3.7 | 88.64% | 47.48% |
| 2020-01-31 * | 18 | 4.6 | 91.47% | 39.92% |
| 2019-10-31 * | 26 | 5.9 | 87.7% | 32.66% |
One row per filed reporting period, newest first, read from EDGAR. Quarterly because that is the public filing cadence. Rows marked * are published but held out of the comparison above; the methodology page says when and why.
Largest positions, as filed
as of 2026-04-30The 8 largest of 29 positions in PDBC's Form N-PORT, weight as a share of net assets, securities-lending collateral excluded. Every position, every quarter: PDBC.csv.gz.
| # | Position | Weight | Cumulative |
|---|---|---|---|
| 1 | Invesco Premier U.S. Government Money Portfolio | 80.68% | 80.7% |
| 2 | Invesco Liquidity Funds PLC, Invesco US Dollar Liquidity Portfolio | 18.64% | 99.3% |
| 3 | N/A | 0.39% | 99.7% |
| 4 | N/A | 0.12% | 99.8% |
| 5 | N/A | 0.08% | 99.9% |
| 6 | N/A | 0.08% | 100.0% |
| 7 | N/A | 0.01% | 100.0% |
| 8 | N/A | 0.00% | 100.0% |
By country of issuer
as of 2026-04-30Share of PDBC's own investments by the issuer country the filer reported (incorporation, not revenue). Each country links to every fund that holds it.
| Country | Share |
|---|---|
| United States | 81.18% |
| Ireland° | 17.70% |
| Not stated in filing | 1.11% |
Returns the fund reported
2019-08 – 2026-04Monthly total returns from Item B.5 of PDBC's own filings, 81 months on record. Not computed here and not from a price feed.
Cross-checked against a series computed separately from prices: median difference 0.21 percentage points over 81 months, which is roughly the distributions. Every month with the filing it came from: PDBC.json · all funds.
Since the previous filing
2026-01-31 → 2026-04-3012 positions became 10: 5 added (0.5% of the fund at the later date), 7 dropped (1.7% at the earlier date). Half the sum of all weight changes, a turnover proxy: 1.9%. Positions are matched on identifiers, so a security whose identifier changed shows as one drop and one add. Every filing of PDBC compared this way, as a feed: changes.xml · all funds: filings received.
| Largest increases | 2026-01-31 | 2026-04-30 | Largest decreases | 2026-01-31 | 2026-04-30 |
|---|---|---|---|---|---|
| Invesco Premier U.S. Government Money Portfolio | 75.46% | 76.62% | N/A | 5.28% | 5.04% |
| Invesco Liquidity Funds PLC, Invesco US Dollar Liquidity Por | 17.56% | 17.70% | |||
| N/A | 0.00% | 0.12% | |||
| N/A | 0.01% | 0.08% |
New: N/A (0.37%), N/A (0.08%), N/A (0.01%), N/A (0.00%), N/A (0.00%). Gone: N/A (0.49%), N/A (0.39%), N/A (0.30%), N/A (0.29%), N/A (0.11%), N/A (0.11%).
Asset categories and pricing
as of 2026-07-3191.55% short-term investment, 8.45% DCO as filed; 93.0% carried at a quoted market price (fair-value level 1). Categories and levels are the filer's; what a low level-1 share does and does not mean is in the measure's page.
Derivative exposure and counterparties
as of 2026-04-30A position count cannot describe a fund that uses derivatives, because a swap is filed at its unrealised gain, not its exposure. These are the notionals the fund itself reported, against net assets of $6.34B. Notional of an interest-rate or currency swap is not equity exposure.
| Swap counterparty | Notional | % of net assets |
|---|---|---|
| Goldman Sachs International | $995M | 15.69% |
| Merrill Lynch International | $696M | 10.99% |
| RBC Capital Markets, LLC | $696M | 10.99% |
| MACQUARIE CAPITAL (USA) INC | $696M | 10.99% |
| Citibank NA | $696M | 10.98% |
| J.P. Morgan Securities PLC | $695M | 10.96% |
| BNP PARIBAS | $496M | 7.82% |
| Morgan Stanley & Co. International plc | $200M | 3.15% |
Full detail for every fund that files derivatives: leverage.json (CC BY 4.0).
Neighbours by effective holdings, short-term investment funds
7Every measured short-term investment fund lined up by how many holdings it behaves like; these sit either side of PDBC (1.5). Same filings, same arithmetic. Position in this list says nothing about which fund is better.
| Fund | Reports | Behaves like | Top ten | As of |
|---|---|---|---|---|
| BSJP Invesco BulletShares 2025 High Yield Corporate Bond ETF | 3 | 1.1 | 100% | 2025-11-30 |
| BSCP Invesco BulletShares 2025 Corporate Bond ETF | 11 | 1.2 | 99.71% | 2025-11-30 |
| CERY State Street(R) SPDR(R) Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 19 | 1.6 * | 99.29% | 2026-07-31 |
| NUGT Direxion Daily Gold Miners Index Bull 2X Shares | 3 | 1.8 * | 100% | 2026-07-31 |
| IBDQ iShares iBonds Dec 2025 Term Corporate ETF | 68 | 1.9 | 82.93% | 2025-10-31 |
| KORU Direxion Daily MSCI South Korea Bull 3X Shares | 5 | 2.2 * | 100% | 2026-07-31 |
| DBMF iMGP DBI Managed Futures Strategy ETF | 15 | 2.3 * | 98.6% | 2026-06-30 |
Essays that examine PDBC
1-
DBC vs PDBC vs GSG: What a Broad Commodity ETF Actually Holds — and Why Roll Yield Matters
All three hold futures, not physical barrels or bushels — so the return you receive is spot price movement plus (or minus) roll yield, and the roll term is...
Mentions are detected across the full text of every article, so an appearance may be a passing comparison rather than the subject. Nothing here is a recommendation to buy or sell — see the disclaimer.